News

CML Data Shows Drop in House Sales

An unusual drop in house sales has seen in January this year compared to December last. The CML data shows 29% fall in house sales, which was mainly because of the adverse weather, rising inflation and government spending cuts. The Council of Mortgage Lenders (CML) said that potential home buyers might have discouraged due to […]

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Lenders Offer Attractive Schemes to First Time Buyers

Many lenders now offer more Loans to Value (LTV) mortgages to borrowers with limited deposit. The first time buyers have been facing problems due to the non availability of mortgages since a long time. It was difficult for a person to find an affordable mortgage without a minimum deposit of 20% or more. Santander has […]

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Record fall in Mortgage Lending

According to the figures released by the Bank of England, the net mortgage lending in UK stood at £8.15 billion during 2010 which was down from £11.33 billion in 2009.This was the lowest level since 1987 as per the records available with the Bank. The number of mortgages approved for house purchases dropped by 10 […]

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Mortgage Lending Declines in December

According to the reports released by the Council of Mortgage Lenders(CML),mortgage lending has reduced by 6% in December, to an estimated £11bn from its November’s £11.7bn.In December 2009 an estimated £13.3bn were advanced as mortgage loans, 18% lower than the same month in 2010. The CML expects an increase in interest rate due to high […]

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Lenders to Help First Time Buyers

Attractive new lending schemes are now offered in the housing market by some of the leading lenders aimed at the first time buyers. They have designed products with better terms and conditions so that first time buyers could save some money and the same utilized for adding furniture or for other home improvements. A two […]

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Nationwide Reports Rise in House Prices in December

A recent report by Nationwide showed 0.4% increase in house prices in December 2010.The value of an average house at present is £162, 763, while it was £162,103 at the end of 2009.According to Nationwide, the prices are expected to fall during the first quarter of the new year. Mr. Martin Gahbauer,chief economist, Nationwide, said […]

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Next Year Best Time for Home Buying-Shows BSA Survey

According to a recent survey done by the Building Societies Association (BSA), 2011 will be the best time for buying a home. About 59% of the 2,047 consumers surveyed told that they would buy property within the next year. A third of the people surveyed viewed that the house prices would rise next year but […]

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UK Housing Societies against FSA Move on Mortgage Regulations

The housing organizations and the law society in UK have warned the Financial Services Authority (FSA) against its proposed move to regulate the mortgage sector with its strict rules and regulations. The organizations include the National Housing Federation, House Builders Federation and the Law Society. The joint bodies of these organizations said that the proposals […]

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Lenders Cut Remortgage Rates

Banks have made significant cuts to their remortgage rates to attract the borrowers. The fall in rates has been mainly due to the increased competition faced by lenders. For a two year fixed rate mortgage with a twenty five percent deposit, the rate is dropped to 3.72 percent and the cost of a five year […]

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Sellers Reduce Asking Prices

Majority of the property sellers in UK have reduced the asking prices of their properties, according to a recent report published by the property website zoopla.co.uk. About 36.4% of the venders had reduced the asking price at least once since August, the report said. Homeowners in northern cities reduced their prices in high proportions; it […]

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Nationwide Reports Steep Fall in House Prices

The monthly house price index released by Nationwide showed 0.7% fall in October. This fall was the biggest decline since April-2009 and twice as steep as economists expected. The average house price in October reached to £164,381. Mr. Adam Posen, member of the monetary policy committee of the Bank of England told that George Osborneā€™s […]

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Interest Rates to Rise Sooner

Interest rates are expected to increase in the near future according to the rise in economic growth as predicted by the Office of the National Statistics,UK.There was 2 percent growth over the past six months, the fastest growth rate over two consecutive quarters since 2000. The credit rating agency, Standard & Poor’s, has given AAA […]

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