Gordon Brown on Sunday warned
Although he insisted
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Monday, January 7
UK faces dangerous year, says Brown
by
Jet-to-Let Magazine
on Mon 07 Jan 2008 17:02 GMT
Action urged over US economy woes
by
Jet-to-Let Magazine
on Mon 07 Jan 2008 16:59 GMT
Top economists have warned that a
Former US Treasury Secretary Lawrence Summers, called for a $75bn (£38bn) package to help stimulate the economy. And National Bureau of Economic Research president, Martin Feldstein said that the chances of a ... more » Tuesday, December 18
Confidence in US housing market spirals lower
by
Jet-to-Let Magazine
on Tue 18 Dec 2007 12:30 GMT
Permits for new home builds in the The number of home building projects that were started in November also took a big hit, in yet another sign ... more » Friday, December 14
Hips extended to all properties
by
Jet-to-Let Magazine
on Fri 14 Dec 2007 17:27 GMT
All one- and two-bedroom properties put up for sale in England and Wales now need a Home Information Pack (Hip). The rule, which came into force at midnight, extends the new selling process, which was applied first to larger properties during the summer. Hips are supposed to improve the sale ... more »
Eurozone inflation hits 6-year high
by
Jet-to-Let Magazine
on Fri 14 Dec 2007 17:25 GMT
Eurozone inflation hit 3.1 per cent in November, the highest for more than six years, according to revised figures that will encourage the European Central Bank to keep talking tough on future interest rate moves. Preliminary figures had shown an annual inflation rate of 3 per cent, up from 2.6 ... more » Thursday, December 13
Tax cut as Irish housing market cools
by
Jet-to-Let Magazine
on Thu 13 Dec 2007 17:33 GMT
Brian Cowen, the Irish finance minister, has moved to stimulate the country's housing market in his annual budget, cutting the tax paid on house sales in a bid to prevent a hard landing for the economy. The move comes amid new evidence that house builders are slowing down their activities ... more »
Tax cut as Irish housing market cools
by
Jet-to-Let Magazine
on Thu 13 Dec 2007 09:30 GMT
Brian Cowen, the Irish finance minister, has moved to stimulate the country's housing market in his annual budget, cutting the tax paid on house sales in a bid to prevent a hard landing for the economy. The move comes amid new evidence that house builders are slowing down their activities ... more » Friday, November 30
Hopes that Fed will cut rates lead to world stock market
by
Jet-to-Let Magazine
on Fri 30 Nov 2007 09:29 GMT
Shares leapt on both sides of the Atlantic yesterday after market hopes that the Federal Reserve will try to calm credit conditions with further interest rate cuts were boosted by soothing comments from the US central bank’s vice-chairman. Stock markets surged in London, New York and across Europe after Donald ... more »
UK property market 'turning down'
by
Jet-to-Let Magazine
on Fri 30 Nov 2007 09:16 GMT
UK house prices saw their biggest fall in 12 years during November, mortgage lender Nationwide has said. The firm's data suggests the cost of an average home slid by 0.8% from a month earlier - the first drop in price seen since February last year. The annual rate of house ... more » Thursday, November 22
US housing woes continue as building demand falls to 14-year low
by
Jet-to-Let Magazine
on Thu 22 Nov 2007 17:05 GMT
The number of homes built in the United States is set to decline further as the volume of housebuilding permits fell to a 14-year low last month. The demand for construction permits, which is directly linked to the outlook for the housing market, fell by 6.6 per cent in October ... more »
Hips home packs get full roll-out
by
Jet-to-Let Magazine
on Thu 22 Nov 2007 17:02 GMT
Home information packs (Hips) will be required for all properties being sold in England and Wales from 14 December, the government has announced. The packs have proved controversial, with many critics claiming ... more » Wednesday, November 21
6% growth in mortgage lending
by
Jet-to-Let Magazine
on Wed 21 Nov 2007 10:40 GMT
Gross mortgage lending grew to an estimated £32.4 billion in October, rising nearly 6% from £30.6 billion in September and £30.6 billion in October last year, according to the Council of Mortgage Lenders (CML). While the increase is higher than the 3% seasonal rise that might typically be ... more » Friday, November 9
Bernanke gives fresh warning on US economy
by
Jet-to-Let Magazine
on Fri 09 Nov 2007 17:22 GMT
A warning by the Federal Reserve chairman, Ben Bernanke, that the US economy will remain sluggish until the middle of 2008, combined with one from the corporate bellwether Cisco Systems that it had been hit by "dramatic decreases" in orders, triggered a fresh bout of selling on Wall Street. With ... more »
1 In 4 Landlords Plans To Grow Property Portfolio Over Next Five Years
by
Jet-to-Let Magazine
on Fri 09 Nov 2007 17:16 GMT
Almost a quarter (23.4%) of landlords plan to expand their property portfolios over the next five years, according to research carried out by the National Landlords Association. Nearly 60% of landlords believe the size of their property portfolios will remain unchanged over the same period. Thursday, November 8
Halifax record fall in house prices
by
Jet-to-Let Magazine
on Thu 08 Nov 2007 15:49 GMT
The latest monthly survey carried out by Halifax suggests evidence of a slowdown. The results contradict the latest research from Nationwide, which illustrated prices picking up during October. According to Halifax, house prices fell by 0.5% in October. Overall, house prices in the three months to October were 0.3% higher ... more »
UK rates stay unchanged at 5.75%
by
Jet-to-Let Magazine
on Thu 08 Nov 2007 15:47 GMT
The Bank of England has kept UK interest rates unchanged at 5.75% for the fourth month in a row in a widely expected move.
House prices to 'cool not fall'
by
Jet-to-Let Magazine
on Thu 08 Nov 2007 11:27 GMT
A new economic forecast says there is a one-in-three chance of UK houses prices being lower in real terms in 2010 than they are now. But it ... more » Monday, November 5
US spending slow despite rate cut
by
Jet-to-Let Magazine
on Mon 05 Nov 2007 17:37 GMT
Growth of spending by Spending grew by 0.3% in September after August's revised growth of 0.5%, according to the Commerce Department. A separate report showed that Wednesday, October 31
House prices show surprise rise
by
Jet-to-Let Magazine
on Wed 31 Oct 2007 12:26 GMT
The month-on-month rise was the strongest since June, taking the annual rate of ... more » Friday, October 19
Public display confidence in house price growth
by
Jet-to-Let Magazine
on Fri 19 Oct 2007 14:21 BST
Consumers have expressed confidence that the housing market will continue its price boom despite strong evidence to the contrary, research by the Association of Investment Companies (AIC) has revealed. In the AIC’s survey, almost two-thirds (62%) of the general public (1,004 people) stated a belief that the housing market ... more » Thursday, October 11
Lending remains buoyant as affordability worsens, says CML
by
Jet-to-Let Magazine
on Thu 11 Oct 2007 14:44 BST
The total of gross lending in August was £34 billion, little changed from July’s £34.1 billion and £1 billion higher than in August last year. But the make up of lending has changed significantly since a year ago. Both lending for house purchase and re-mortgage have declined by 11% ... more » Friday, October 5
BoE leaves interest rates at 5.75pc
by
Jet-to-Let Magazine
on Fri 05 Oct 2007 09:38 BST
The Bank of England has resisted increasing pressure to cut interest rates as policy makers take more time to assess the impact of the credit crunch on the broader economy. The decision by the Bank's Monetary Policy Committee to leave the cost of borrowing at 5.75pc was predicted by all but one of the 60 economists surveyed by financial news agency Bloomberg. Governor Mervyn King has come under heavy fire for his handling of last month's Northern Rock crisis, which has dented consumer confidence and called into doubt the Bank's earlier projection that rates would need to rise to 6pc. While the members of the MPC are taking more time to examine the impact of the financial turmoil on the rest of the economy, housing data today from the The Bank had indicated in its quarterly Inflation Report in August that rates might have to rise keep inflation on track, but since then the CPI has dropped and the economy has been beset by profound threats. Today's decision to leave rate on hold will come as a disappointment to the British Retail Consortium. Kevin Hawkins, its director general, yesterday called for the bank to take immediate action on rates. The plea from the country's retailers comes after a warning from the Ernst & Young Item Club over the weekend that a cut would be the smartest move for the economy and the struggling financial services sector. Source: The Telegraph Thursday, October 4
Mortgage prices will rise with lenders cashing in on rival's turmoil, says HBOS chief
by
Jet-to-Let Magazine
on Thu 04 Oct 2007 11:01 BST
Andy Hornby, the boss of "Looking forward, we can already see that mortgage pricing is starting to adjust ... more » Wednesday, September 26
France calls for lower European interest rates
by
Jet-to-Let Magazine
on Wed 26 Sep 2007 12:44 BST
The new French finance minister Christine Lagarde has called on the European Central Bank to lower interest rates at its meeting next month to try to counter the rise of the euro. Ms Lagarde, one of the key ministers driving Nicolas Sarkozy's ambitious reform programme, said in an interview ... more » Thursday, September 20
House price growth turned negative in August says RICS.
by
Jet-to-Let Magazine
on Thu 20 Sep 2007 16:25 BST
House prices growth turned negative for the first time since October 2005. 1.8% more Chartered Surveyors reported a fall than rise in house prices, down from 10.8 reporting a rise in July. Demand continued to weaken as rising interest rates weighed on buyer affordability. The trend ... more »
Abbey under fire for 125% mortgage
by
Jet-to-Let Magazine
on Thu 20 Sep 2007 16:24 BST
Britain's third biggest mortgage lender was last night accused of fuelling the national debt crisis by launching a new home loan worth up to 125% of a property's sale price. The Abbey loan, the biggest of its type ever offered to Monday, September 17
Buy-to-let investors return as rental market sees record growth
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 17:14 BST
Buy-to-let investors returned to the market as rental growth reached record levels. Tenant demand for rental property has been boosted by declining accessibility, rising uncertainty and a slowing housing market which has reduced the impetus on would-be home buyers to enter into the market, says the RICS Lettings Market ... more »
Bank lending rate rises on Northern Rock woes
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 17:12 BST
The short-term lending cost between banks has shot up in the wake of the run on Northern Rock, figures show today. The overnight interbank Libor rate surged to 6.47 per cent this morning compared with 5.87 per cent on Friday and above the 5.75 per cent Bank of England ... more »
Mortgage borrowers and savers told not to panic
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 16:45 BST
Borrowers and savers have little to fear, despite Northern Rock's need for an emergency loan from the Bank of England, industry experts said, though they believe liquidity problems could slow the property market. Mortgage borrowers and savers with Northern Rock -- the country's eighth-largest listed bank -- can have ... more » Thursday, September 13
Fall in loans to buyers and re-mortgagors
by
Jet-to-Let Magazine
on Thu 13 Sep 2007 12:25 BST
The number and value of mortgages taken out by both home-buyers and those re-mortgaging fell in July, according to the Council of Mortgage Lenders. But lending not accounted for by house purchase or re-mortgaging (primarily made up of further advances and buy-to-let) rose to its highest-ever value - £7.8 billion ... more »
'Mis-priced' risk at heart of credit turmoil
by
Jet-to-Let Magazine
on Thu 13 Sep 2007 12:22 BST
Mervyn King, the governor of the Bank of England, today blamed risky behaviour by banks for the current financial turmoil and warned that an over-generous bail out by Releasing evidence that he will give to next week's ... more »
Slowdown fuels tenant frenzy
by
Jet-to-Let Magazine
on Thu 13 Sep 2007 12:17 BST
Tenant demand for rented accommodation is growing strongly on the back of a slowing housing market, higher borrowing costs and the uncertain outlook for house prices, three key sources of independent research on the private rented sector have confirmed. The increased level of demand is creating an upward pressure ... more » Monday, September 10
Hips rolled out to three-bed homes
by
Jet-to-Let Magazine
on Mon 10 Sep 2007 16:53 BST
Owners of three-bedroom homes who put their property up for sale will have to provide a home information pack (Hip) from today, as the government's controversial scheme is extended. The change comes just over a month after the packs became compulsory for four-bedroom homes, and means 60% of the total ... more » Friday, September 7
Report says UK will avoid property valuations crisis
by
Jet-to-Let Magazine
on Fri 07 Sep 2007 16:56 BST
The UK property market is unlikely to suffer the kind of valuations crisis that brought some of Germany's largest open-ended property funds close to collapse in 2005 and early 2006, according to industry research. But the report by independent UK industry group Investment Property Forum (IPF.L: Quote, Profile, Research) warned ... more »
Property in Hungary
by
Jet-to-Let Magazine
on Fri 07 Sep 2007 15:26 BST
When Soviet tanks rumbled through the streets of Budapest in 1956 to crush an anti-communist revolt, who'd have thought that Hungary would, under Prime Minister Janos Kadar, become one of the most liberal of the Eastern bloc nations? A range of policies enacted under Kadar’s leadership from 1956 to 1988 ... more » Tuesday, September 4
Tighter mortgage lending seen from subprime impact
by
Jet-to-Let Magazine
on Tue 04 Sep 2007 12:43 BST
The U.S. subprime crisis could herald tighter mortgage policies in Europe and retail lenders could be especially reluctant to grant 100 percent loans on property purchases, analysts said. Arturo de Frias, chief banking analyst at Dresdner Kleinwort in London, forecast a "widening of spreads but that is good for the ... more » Friday, August 31
Rightmove predicts housing 'soft landing'
by
Jet-to-Let Magazine
on Fri 31 Aug 2007 17:15 BST
Rightmove, the UK’s biggest property website, moved to dispel fears surrounding the housing market today by insisting that, while price growth was slowing, there was no reason to panic. Ed Williams, group managing director, said that, although affordability was becoming more of a problem for potential homebuyers, the housing market ... more » Thursday, August 30
Gloomy outlook for regional house prices but London roars on
by
Jet-to-Let Magazine
on Thu 30 Aug 2007 17:43 BST
House prices are rising at the slowest rate for more than a year, with some regions suffering a highly unusual sustained drop in property values, according to authoritative government figures. Property prices rose by only 0.1pc in July, taking the annual inflation rate down from 9.1pc to 8.8pc, according to ... more » Wednesday, August 29
House price growth slows to 0.1%
by
Jet-to-Let Magazine
on Wed 29 Aug 2007 17:45 BST
House price inflation eased last month to its slowest pace in a year, new data showed today, suggesting that five interest rates rises in a year are taking their toll on the housing market. Figures from the Land Registry showed that house price growth in England and Wales slowed in ... more » Tuesday, August 28
House prices suffer worst fall since 1987
by
Jet-to-Let Magazine
on Tue 28 Aug 2007 17:24 BST
NEW YORK (Reuters) - House prices suffered their worst decline since at least 1987 in the second quarter from a year earlier as the housing downturn has deepened, according to the S&P/Case-Shiller U.S. National Home Price Index. The national index, which dates from 1987, fell 3.2 percent to 183.89 last ... more »
Figures show buy-to-let market is weathering interest rate storm
by
Jet-to-Let Magazine
on Tue 28 Aug 2007 17:17 BST
The buy-to-let market held up in July, despite the increased cost of borrowing, according to Paragon's buy-to-let index. Increasing property prices and higher borrowing costs mean that the mainstream mortgage market has slowed down, but as the demand for property has remained strong, landlords have been able to raise rents ... more » Friday, August 24
Buyers 'pick home in 17 minutes'
by
Jet-to-Let Magazine
on Fri 24 Aug 2007 11:17 BST
UK homebuyers spend on average just 17 minutes looking at a new property before deciding to buy it, according to a survey for bank ING Direct.
That is less time than the 54 minutes they take to pick out the new curtains. Speaking to 1,000 people who bought homes over ... more » Wednesday, August 22
Rate increases start to bite
by
Jet-to-Let Magazine
on Wed 22 Aug 2007 17:40 BST
Research from the Building Societies Association has uncovered a dramatic drop in mortgage lending figures. Building society gross advances amounted to £4,465m in July 2007, compared to £4,888m in July 2006. Net Advances were £598m in July 2007, versus £1,662m in July 2006. Approvals were £4,014m in July ... more » Monday, August 20
Societies losing mortgage share
by
Jet-to-Let Magazine
on Mon 20 Aug 2007 13:36 BST
The pace of approvals for mortgages rose last month, despite a surprise drop in lending by building societies. The British Bankers’ Association said that mortgage lending by its members rose by £5.7 billion in July, up from £5.4 billion the previous month. However, lending by members of the Building Societies’ ... more »
Loophole 'makes Hips redundant', says RICS
by
Jet-to-Let Magazine
on Mon 20 Aug 2007 13:33 BST
A report claiming to have found a loophole in rules governing Home Information Packs (Hips) today has sparked fresh controversy over the beleaguered scheme. The report from the Royal Institution of Chartered Surveyors (RICS) said that new regulations published by the Department for Communities and Local Government (DCLG) on Monday ... more » Tuesday, August 14
Buy-to-let sector remains buoyant
by
Jet-to-Let Magazine
on Tue 14 Aug 2007 17:24 BST
Borrowers took out 171,800 new buy-to-let mortgages, worth £21.2 billion, in the first half of 2007, according to data released by the Council of Mortgage Lenders (CML). By the end of June, the number of buy-to-let loans outstanding had reached a record 938,500. The value of outstanding loans totalled £108 ... more » |
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