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Thursday, July 2
Tracker mortgages 'may become more costly'
by
Jet-to-Let Magazine
on Thu 02 Jul 2009 16:13 BST
Although they may be attractively priced currently, tracker mortgages could become more costly over coming months. This is according to moneysupermarket.com, which pointed out that the UK's base rate of interest is predicted to rise this year. It said that, while many trackers are now cheaper than their fixed-rate counterparts, ... more » Wednesday, July 1
Interim regime for property sale and rent back begins today in UK
by
Jet-to-Let Magazine
on Wed 01 Jul 2009 16:13 BST
A new interim regime for landlords that operate property sale and rent back businesses comes into force in the UK today. SRB landlords and companies have one month to submit an application to the Financial Services Authority for permission to continue their business activities as full regulation kicks in. Under ... more » Tuesday, June 30
House prices 'rose 0.9% in June'
by
Jet-to-Let Magazine
on Tue 30 Jun 2009 16:23 BST
UK house prices rose by 0.9% in June, according to the latest survey from the Nationwide building society. It said this was the third rise in the past four months, and shrank the annual rate of decline to just 9.3%, from 11.3% in May. The increase in prices during the ... more » Monday, June 29
Mortgage approvals still rising
by
Jet-to-Let Magazine
on Mon 29 Jun 2009 17:29 BST
The property market continued to pick up in May, according to figures from the Bank of England. The number of mortgages approved for house buying rose to 43,414, up from the figure of 43,191 the month before. It was the fourth month in a row that approvals have risen, suggesting ... more » Thursday, June 25
OECD says recession 'near bottom'
by
Jet-to-Let Magazine
on Thu 25 Jun 2009 10:20 BST
The Organisation for Economic Cooperation and Development says the world economy is near the bottom of the worst recession in post-war history. The body that represents the 30 most industrialised nations said that those economies would shrink 4.1% this year. But it adds that recovery is likely to be "weak ... more » Wednesday, June 24
House sales 'continuing to rise'
by
Jet-to-Let Magazine
on Wed 24 Jun 2009 17:30 BST
The number of homes sold in the UK has continued to rise, according to HM Revenue and Customs (HMRC). Some 62,000 residential properties costing more than £40,000 were sold in May, up 7% on the previous month. The figure was the highest since October but still well down on the ... more » Monday, June 22
Repossession risk 'overestimated'
by
Jet-to-Let Magazine
on Mon 22 Jun 2009 15:48 BST
The Council of Mortgage Lenders has cut its forecast for the number of homes expected to be repossessed in 2009. The lenders' group predicted that 65,000 homes would be repossessed this year, 10,000 fewer than the estimate it made in December. The figure would still mark a sharp rise from ... more » Friday, June 19
Mortgage lending falls back again
by
Jet-to-Let Magazine
on Fri 19 Jun 2009 17:27 BST
Mortgage lending fell back in May, according to the latest figures from the Council of Mortgage Lenders (CML). Gross lending totalled £10.3bn, which was 2% lower than in April and 58% lower than in May 2008. The CML said that while lending for home buyers had been rising recently, lending ... more » Thursday, June 18
Public borrowing at record levels
by
Jet-to-Let Magazine
on Thu 18 Jun 2009 17:12 BST
UK public sector borrowing was the highest on record in May, the Office for National Statistics said. Public sector net borrowing was £19.9bn in May, and has already reached £30bn in the first two months of the financial year. This is double the level of one year ago, and even ... more » Wednesday, June 17
US inflation lower than expected
by
Jet-to-Let Magazine
on Wed 17 Jun 2009 17:38 BST
US consumer prices rose less than had been expected in May, as the recession continued to keep inflation down. The Consumer Prices Index (CPI) from the Labor Department rose a seasonally adjusted 0.1% last month, well under the 0.3% rise that had been expected. Although petrol prices rose 9.6% in ... more » Monday, June 15
UK to recover slowly from 2010
by
Jet-to-Let Magazine
on Mon 15 Jun 2009 09:30 BST
The UK economy is stabilising but it will not be until early next year that a "slow and gradual" recovery will begin, business leaders have said. The economy will contract by 3.9% over 2009 before seeing a return to growth of 0.7% next year, the CBI predicted. "The harshest period ... more » Friday, June 12
Spring bounce in mortgage lending
by
Jet-to-Let Magazine
on Fri 12 Jun 2009 10:36 BST
The number of loans handed out for house purchases in the UK rose by 16% in April compared with the previous month, according to lenders. But the figure remains 28% down on the same month the previous year, the Council of Mortgage Lenders (CML) said. The data adds further evidence ... more » Thursday, June 11
Pound hits 2009 high against euro
by
Jet-to-Let Magazine
on Thu 11 Jun 2009 09:10 BST
Sterling has reached its highest level against the euro since the start of the year after data suggested the UK recession may be over. One pound was worth 1.1756 euros in late trading, having closed the previous day at 1.1672 euros. On Wednesday the National Institute of Economic and Social ... more » Tuesday, June 9
Market interest on the up
by
Jet-to-Let Magazine
on Tue 09 Jun 2009 13:30 BST
A further increase in both new buyer enquiries and sales, as well as a reduction in the level of stocks on surveyors books has begun to provide some support for property prices, says RICS' UK housing market survey. The number of chartered surveyors seeing an increase in new enquiries edged ... more » Monday, June 8
Interest in property 'up again'
by
Jet-to-Let Magazine
on Mon 08 Jun 2009 09:16 BST
Rising interest from potential buyers coupled with falling numbers of sellers is stabilising UK house prices, according to surveyors. New buyer inquiries increased for the seventh month in a row in May - at the fastest rate since 1999, said the Royal Institution of Chartered Surveyors. But there were fewer ... more » Friday, June 5
Pound slides on political turmoil
by
Jet-to-Let Magazine
on Fri 05 Jun 2009 17:16 BST
The pound has fallen against the dollar and euro, hit by uncertainty over the UK's political situation after several ministers resigned from the cabinet. The pound slid 1% against the dollar to $1.6022, a one-week low, but recovered slightly. Sterling hit a two-week low against the euro of 1.1277 euros. ... more » Thursday, June 4
UK house prices 'up 2.6% in May'
by
Jet-to-Let Magazine
on Thu 04 Jun 2009 17:19 BST
UK house prices rose by 2.6% in May compared with April but activity remains low in the market, according to the latest survey from the Halifax. The lender, now part of the Lloyds Banking Group, warned against placing too much weight on one month's figures. The rise came after three ... more » Wednesday, June 3
Pound hits new seven-month high
by
Jet-to-Let Magazine
on Wed 03 Jun 2009 16:59 BST
The pound has hit its highest level against the dollar in seven months, as the US currency has continued to fall out of favour with traders. One pound was worth $1.6664 on Wednesday morning. Sterling was also stronger against the euro with one pound buying 1.16 euros. It also reached ... more » Tuesday, June 2
Mortgage approvals rose in April
by
Jet-to-Let Magazine
on Tue 02 Jun 2009 16:04 BST
The number of new mortgages approved for home buyers in the UK rose in April for the third month in a row, according to the Bank of England. Lenders approved 43,201 new loans to home buyers, although the number of loans to people changing lenders or topping up existing loans ... more » Monday, June 1
House prices may have hit bottom of market
by
Jet-to-Let Magazine
on Mon 01 Jun 2009 16:08 BST
House prices fell by the smallest monthly amount in almost a year in April, down by 0.3 per cent to an average of £152,898, according to official figures published on Monday. The latest data from the Land Registry offers further evidence that the housing market has begun to stabilise and ... more » Friday, May 29
Rise reported in UK house prices
by
Jet-to-Let Magazine
on Fri 29 May 2009 09:45 BST
House prices rose 1.2% in May on April, offering evidence of activity in the UK housing market, according to figures from the Nationwide building society. The annual rate of house price falls eased from 15% in April to 11.3%, with a typical home now costing £154,016. Over the past three ... more » Thursday, May 28
Pound falls back against dollar
by
Jet-to-Let Magazine
on Thu 28 May 2009 10:01 BST
Sterling has fallen back against the dollar after the US currency rallied in early trade and a Bank of England policymaker warned of "false dawns". The pound capped a rise in recent weeks by hitting $1.60 on Wednesday for the first time since November last year. But it fell to ... more » Wednesday, May 27
Dominic Farrell Press Release: Repossessed Property Investment Is The New Buy-To-Let
by
Jet-to-Let Magazine
on Wed 27 May 2009 17:06 BST
A significant by-product of the credit crunch and subsequent recession in the UK is the number of properties repossessed by banks and financial institutions as a consequence of borrowers defaulting on their repayments. The Council of Mortgage Lenders has reported that the number of properties repossessed in the UK rose to ... more »
Protection scheme hits Nationwide
by
Jet-to-Let Magazine
on Wed 27 May 2009 16:46 BST
Nationwide, the UK's biggest building society, said profits had been hit by its "unfair" level of contribution to a savings protection scheme. Pre-tax profits fell by 69% to £212m for the year to 4 April. It said the £241m it had to pay into the Financial Services Compensation Scheme - ... more » Tuesday, May 26
Dominic Farrell: UK Repossessed Property Bargains And Cyprus Update
by
Jet-to-Let Magazine
on Tue 26 May 2009 16:56 BST
Dear Investor, I spent last week in Cyprus, where the temperatures were close to 35C and the skies clear and blue. I attended the monthly site meeting at The Grove Spa Resort in Mazotos, Cyprus and had a number of meetings with the banks, contractors, consultants and of course our ... more »
Mortgage market recovery 'contingent on return of FTBs'
by
Jet-to-Let Magazine
on Tue 26 May 2009 16:38 BST
The recovery of the UK's mortgage market is contingent on the return on first-time buyers (FTBs), it has been claimed. According to chartered financial planner at Fairinvestment.co.uk Sharon Bratley, it is "about time" that big high street lenders begin offering competitive products to such people. She made her comments following ... more » Friday, May 22
Biggest spending drop since 1980
by
Jet-to-Let Magazine
on Fri 22 May 2009 17:18 BST
The output of the UK economy fell by an unrevised 1.9% in the first three months of 2009, new figures from the Office of National Statistics show. However, spending by households fell by 1.2%, the biggest drop since 1980. The only sector of the economy making a positive contribution to ... more » Thursday, May 21
Tenants 'let down by extra costs'
by
Jet-to-Let Magazine
on Thu 21 May 2009 10:09 BST
Some tenants face "unjustified and excessive" charges from lettings agents in England and Wales, says a charity. A report by Citizens Advice says that extra costs, including administration fees and reference checks, could add up to £600 to the cost of renting a home. The charity claimed the charges often ... more » Wednesday, May 20
Pound strengthens against dollar
by
Jet-to-Let Magazine
on Wed 20 May 2009 09:32 BST
The pound has strengthened against the dollar, after Bank of England minutes revealed that policymakers considered boosting money supplies. The prospect of the move, which could encourage lending - stimulating the economy - boosted sterling. On Wednesday, the pound rose as high as $1.5794 against the dollar, its strongest level ... more » Tuesday, May 19
Property slump worsens across the globe
by
Jet-to-Let Magazine
on Tue 19 May 2009 17:24 BST
The slump across global commercial property markets has accelerated since the turn of the year, with the emerging markets in particular struggling under the combination of capital value and rental falls. The pace of decline in capital values accelerated in the first quarter, while almost every country in the world ... more » Monday, May 18
UK housing market: Asking prices for properties 'on the up'
by
Jet-to-Let Magazine
on Mon 18 May 2009 09:59 BST
Asking prices for properties have risen for the fourth month in a row as new sellers continued to quote optimistic prices for their homes, research showed today. The average asking price of a property in England and Wales increased by 2.4%, or £5,000, during the four weeks to May 9, ... more » Friday, May 15
UK repossessions up 50% in a year
by
Jet-to-Let Magazine
on Fri 15 May 2009 17:30 BST
The number of homes repossessed in the UK rose to 12,800 in the first three months of the year, the Council of Mortgage Lenders (CML) has said. This was up 23% from the 10,400 in the previous three months and 50% up on the 8,500 in the same period last ... more » |
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