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September 24, 2008
Three million Britons look to overseas property investment
Permalink: Three million Britons look to overseas property investment
by Gill Montia
The downturn in the UK housing market is prompting Britons to consider investing in property overseas.
Research from Cater Allen Private Bank suggests that over three million people are likely to buy a property overseas within the next two years.
Forty-two ...
September 23, 2008
Demand for rental property up by 76%
Permalink: Demand for rental property up by 76%
by Gill Montia
Demand for rental property rose by 76% in the 12 months to the end of July.
Latest research from property and letting agent, Your Move, also shows that tenant demand remains strong, with new leases in July rising 18% on June.
The ...
Restriction on shorting should be extended to commercial property market
Permalink: Restriction on shorting should be extended to commercial property market
by Lin Freestone
Reita, the education and awareness campaign for property investment and REITs, has asked the Financial Services Authority to extend the ban on short-selling to the commercial property sector.
The FSA announced new regulations last week, clamping down on ...
Hefty deposits required in order to get onto the property ladder
Permalink: Hefty deposits required in order to get onto the property ladder
by Kay Murchie
Research from mform.co.uk has discovered that first-time buyers looking to borrow more than 90% of a property’s value will struggle to obtain a mortgage.
The online mortgage company found that mortgages for first-time buyers without a sizeable ...
BBA: August mortgage lending falls to record low
Permalink: BBA: August mortgage lending falls to record low
by Kay Murchie
Figures from the British Bankers' Association (BBA) have revealed that UK mortgage lending by the major banks fell to a fresh low in August.
The BBA’s members make up for around two-thirds of mortgage lending.
Some 21,086 mortgages were approved during ...
September 22, 2008
Sellers flee market as asking price falls
Permalink: Sellers flee market as asking price falls
by Kay Murchie
According to Rightmove, the property website, home sellers are disappearing from the property market after the organisation reported a further 1% fall in the average asking price in September.
While the fall in the average asking price for September is ...
FSA seeks buyer for Bradford & Bingley
Permalink: FSA seeks buyer for Bradford & Bingley
by Gill Montia
The Financial Services Authority (FSA) has renewed its attempts to facilitate the sale of Bradford & Bingley (B&B), the troubled buy-to-let mortgage lender.
While B&B’s says its capital position is sound, the lender's falling share price has led to speculation ...
Pensioners warned equity release must be last resort
Permalink: Pensioners warned equity release must be last resort
by Kay Murchie
Consumer group, Which?, is warning those considering equity release should do so as a last resort.
Equity release, which is a scheme designed to allow homeowners to release cash from the value of their property, can provide pensioners with a ...
Boris Johnson’s plans for a new airport for London
Permalink: Boris Johnson’s plans for a new airport for London
by Lin Freestone
The Mayor of London is to initiate a feasibility study into the provision of a new 24-hour airport in the Thames estuary, which could avoid the controversial expansion of Heathrow.
All alternatives to the expansion of Heathrow will be ...
September 21, 2008
Prospective buyers to benefit as sellers cut prices at auction
Permalink: Prospective buyers to benefit as sellers cut prices at auction
by Kay Murchie
Auction specialist, the Essential Information Group (EIG), has revealed that auctioneers are forcing sellers to slash their prices.
The news will no doubt be welcomed by first-time buyers looking for a bargain in the wake of falling property ...
September 18, 2008
Boost your finances by taking in a lodger
Permalink: Boost your finances by taking in a lodger
by Kay Murchie
Rising mortgage payments and higher food and energy costs has meant that many homeowners’ finances are being stretched to the limit.
In a bid to help with the mortgage payments, there has been an 8.3% rise in homeowners taking in ...
August mortgage lending falls
Permalink: August mortgage lending falls
by Kay Murchie
The latest figures from the Council of Mortgage Lenders (CML) have revealed a further decline in mortgage lending.
According to the organisation, gross lending totalled £21.8 billion in August, a 12% fall compared with July and a 36% fall from August last year.
The CML ...
September 17, 2008
Tips for successful remortgaging in the credit crunch
Permalink: Tips for successful remortgaging in the credit crunch
by Lin Freestone
Property owners and buy-to-let investors have been advised to be well organised if they want to secure the best deals from banks and lenders now that lower rates have started to appear.
By leaving it too late, it could ...
Edinburgh property management company appoints operations director
Permalink: Edinburgh property management company appoints operations director
by Lin Freestone
Cullen Property, an Edinburgh-based company that manages more than 270 properties within the city, has appointed Steve Coyle to be its new Operations Director.
Steve will join Managing Director Malcolm Warrack on the board of the company, where he has ...
Gatwick Airport is for sale
Permalink: Gatwick Airport is for sale
by Lin Freestone
Gatwick Airport has been placed on the market by its owner, BAA. The decision to sell is the result of a Competition Commission ruling that BAA should sell up to three of its UK airports because of market dominance concerns.
Based in Sussex, ...
September 16, 2008
DCLG confirms house price falls
Permalink: DCLG confirms house price falls
by Kay Murchie
The slump in the housing market has been confirmed today after the Government's own house price index revealed that prices in July fell for the ninth consecutive month.
The index, which is published by the Department of Communities and Local Government (DCLG), established ...
September 14, 2008
Homeowners to benefit from ease of planning restrictions
Permalink: Homeowners to benefit from ease of planning restrictions
by Kay Murchie
The Government has announced an easing of planning restrictions on extensions and loft conversions.
It is hoped the new measures, which come into effect next month, will help families who can’t afford to move to extend their homes instead.
The ...
Government announces changes to Hips as housing market continues to slow
Permalink: Government announces changes to Hips as housing market continues to slow
by Kay Murchie
The controversial Home Information Packs have long been the subject of criticism since they were introduced over a year ago and have been branded a waste of time, according to a recent survey by YouGov.
Last ...
September 12, 2008
Galliford’s hybrid approach brings 35% increase in profits
Permalink: Galliford’s hybrid approach brings 35% increase in profits
by Lin Freestone
Construction company Galliford Try has warned that the housing downturn is starting to spread to private sector commercial construction. There are signs that demand from the private commercial sector for new building is falling as a result of ...
Buy-to-let investors regain confidence in US markets
Permalink: Buy-to-let investors regain confidence in US markets
by Gill Montia
Property investors are once more attracted to the US, despite the uncertain state of the housing market.
According to Carlo Walther, head of business development at property portal Rightmove Overseas, buy-to-let investors with UK portfolios are now looking at alternative options ...
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