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Thursday, March 11
Gordon Brown warns economic storm not over
by
Jet-to-Let Magazine
on Thu 11 Mar 2010 10:53 GMT
Prime Minister Gordon Brown has warned Britain of economic "bumps in the road" ahead but vowed "we will weather the storm together". And in a pre-election swipe at his political rivals, he said "now is not the time to turn back", adding: "I will not let you down." He also ... more » Thursday, March 4
UK economy's outlook improving, surveys suggest
by
Jet-to-Let Magazine
on Thu 04 Mar 2010 09:36 GMT
Surveys from two industry bodies suggest there is growing optimism about the recovery of the UK economy. The employers' organisation the CBI said service sector firms saw business stabilise in the last three months. The manufacturers' lobby group the EEF also said its members were seeing improved levels of business. ... more » Monday, March 1
Mortgage approvals drop sharply
by
Jet-to-Let Magazine
on Mon 01 Mar 2010 11:05 GMT
Figures revealing a sharp drop in mortgage approvals in January have confirmed that the UK housing market made a slow start to the year. The Bank of England said that the number of home loans approved for house purchases in January fell by 17% compared with the previous month. The ... more » Thursday, February 18
House prices rose by 2.9% in 2009, says government
by
Jet-to-Let Magazine
on Thu 18 Feb 2010 10:16 GMT
House prices in the UK rose by 2.9% last year, according to the latest government house price survey. Prices rose by 3% in England, 3.8% in Scotland and 1% in Wales, but fell 6% in Northern Ireland, the Department for Communities and Local Government said. The figures suggest that the ... more » Monday, February 15
Stamp duty change prompts rush by house buyers
by
Jet-to-Let Magazine
on Mon 15 Feb 2010 10:20 GMT
A rush to beat the end of the stamp duty concession saw a big rise in loans made to house buyers in December, says the Council of Mortgage Lenders (CML). There were 62,800 such loans, up by 23% from November and 90% higher than in December 2008. The number of ... more » Thursday, February 11
Bank of England warns inflation will exceed 3%
by
Jet-to-Let Magazine
on Thu 11 Feb 2010 09:54 GMT
The UK's inflation rate will rise above 3% in the coming weeks, the governor of the Bank of England, Mervyn King, has predicted. Presenting the Bank's quarterly inflation report, Mr King said the increase in VAT and higher petrol costs would push up prices. But, he added, inflation would then ... more » Thursday, February 4
House prices rise by another 0.6%, the Halifax says
by
Jet-to-Let Magazine
on Thu 04 Feb 2010 11:56 GMT
House prices have risen for the seventh consecutive month - rising by 0.6% in January compared with December, the Halifax has said. The average UK home was valued some 3.6% higher in January than a year earlier, at £169,777. The figures show the continued trend of rising prices which has ... more » Monday, February 1
Davos 2010 ends with bankers on the defensive
by
Jet-to-Let Magazine
on Mon 01 Feb 2010 10:02 GMT
Bankers have indicated that they may agree to far-reaching reforms, as the World Economic Forum in Davos ends. Top regulators warned that they could take drastic action to take some of the risk out of the financial industry. However, the annual meeting of some of the world's most powerful business ... more » Thursday, January 28
Home buyers get more options
by
Jet-to-Let Magazine
on Thu 28 Jan 2010 16:19 GMT
‘Cash is King’ has been the rule for some time for those buying a property, but new analysis from moneysupermarket.com has shown that providers are beginning to loosen the purse strings with more products now available to mortgage borrowers with lower deposits or equity in their properties. Deals with an ... more » Monday, January 25
Spending cuts 'could hit affordable housing'
by
Jet-to-Let Magazine
on Mon 25 Jan 2010 10:07 GMT
The number of planned affordable homes built over the next 10 years could be halved by government spending cuts, a housing campaign group has warned. The government has pledged to build three million new homes by 2020, a third of which would be affordable. The National Housing Federation said pre-Budget ... more » Thursday, January 21
Houses 'are less affordable' than 50 years ago
by
Jet-to-Let Magazine
on Thu 21 Jan 2010 10:32 GMT
Houses are less affordable than 50 years ago although the quality of homes has improved, according to the Halifax. The lender, now owned by Lloyds Banking Group, said that over the last five decades UK house prices have risen by 2.7% a year, allowing for inflation. This was above the ... more » Monday, January 18
Mortgage lending sees 'seasonal dip'
by
Jet-to-Let Magazine
on Mon 18 Jan 2010 09:49 GMT
There has been a "seasonal dip" in mortgage lending, according to the Council of Mortgage Lenders (CML). The number of new mortgages granted to home buyers fell to 53,000 in November, a 4% drop from the previous month. However, reflecting the upward trend seen for most of last year, the ... more » Monday, January 11
Many homes 'using credit cards to pay mortgage'
by
Jet-to-Let Magazine
on Mon 11 Jan 2010 11:50 GMT
Up to one million households have borrowed money on a credit card to pay their mortgage or rent over the past year, a charity's study suggests. Housing charity Shelter said this figure represented 6% of UK homes. Shelter said people in lower social groups had been most likely to need ... more » Thursday, December 17
House prices set to rise in 2010
by
Jet-to-Let Magazine
on Thu 17 Dec 2009 10:10 GMT
Property prices are set to rise in 2010 but sellers may have to wait until the end of the year to benefit, according to the latest predictions. With the New Year looming, industry bodies are already making their forecasts on the housing market, with the Building Societies Association (BSA) expecting ... more » Monday, December 14
Households' fortunes 'mixed' in recession
by
Jet-to-Let Magazine
on Mon 14 Dec 2009 17:35 GMT
Householders' disposable income has dipped sharply in the downturn but low interest rates have saved many from debt problems, a report suggests. A safety-first attitude to savings was inspired, in part, by a fear of redundancy, the survey for the Bank of England found. The poll, carried out in the ... more » Thursday, December 10
UK interest rate remains at 0.5%
by
Jet-to-Let Magazine
on Thu 10 Dec 2009 15:45 GMT
recovery
The Bank of England has held UK interest rates at the record low of 0.5% in a widely-expected move. It also announced no changes to its programme of pumping newly-created money into the economy - so-called quantitative easing (QE). In November, the Bank of England said it would inject ... more » Tuesday, December 8
House prices up for fifth month in a row, says Halifax
by
Jet-to-Let Magazine
on Tue 08 Dec 2009 12:21 GMT
House prices have risen for the fifth month in a row, says the Halifax, one of the UK's biggest mortgage lenders. Its latest survey says prices went up by 1.4% in November, pushing the cost of the average UK home to £167,664. Although that is still 1.6% lower than a ... more » Saturday, November 21
Nationwide sees risk of house price fall in 2010
by
Jet-to-Let Magazine
on Sat 21 Nov 2009 09:47 GMT
House prices could retreat in 2010 if unemployment rises sharply, Britain's third-largest mortgage lender Nationwide warned on Friday. A lack of supply and low interest rates have boosted the housing market this year, but Nationwide said prices could go into reverse with unemployment set to rise further and a stock ... more » Thursday, November 19
Seasonal rise in mortgage lending
by
Jet-to-Let Magazine
on Thu 19 Nov 2009 10:27 GMT
UK mortgage lending rose by 5% in October compared with the previous month, according to a lenders' group. However, the £13.5bn of gross mortgage lending recorded by the Council of Mortgage Lenders was down 27% compared with the same month a year ago. The group said that the month-on-month rise ... more » Wednesday, November 18
Bank split over stimulus package
by
Jet-to-Let Magazine
on Wed 18 Nov 2009 10:00 GMT
Bank of England rate-setters were split three ways about the decision taken earlier this month to pump £25bn more into the economy, meeting notes show. Seven of the nine members of the Monetary Policy Committee (MPC) voted for the £25bn extension, one voted for a higher amount and one for ... more » Monday, November 16
Firms 'struggle to get finance'
by
Jet-to-Let Magazine
on Mon 16 Nov 2009 10:27 GMT
Access to finance remains a problem for small and medium-sized firms, despite the extra £200bn pumped into the UK financial system, a report says. The British Chambers of Commerce (BCC) said a third of the companies it had questioned found access to finance had become harder in the past three ... more » Thursday, November 12
Small rise in home repossessions
by
Jet-to-Let Magazine
on Thu 12 Nov 2009 11:03 GMT
The number of properties repossessed in the July to September period rose by 3% to 11,700, according to figures from the Council of Mortgage Lenders (CML). The total was up 5% from the same period a year ago. But the CML said it was now cutting its forecast for total ... more » Tuesday, November 10
House prices are to "keep on rising"
by
Jet-to-Let Magazine
on Tue 10 Nov 2009 11:35 GMT
House prices are likely to keep on rising for the time being, says the Royal Institution of Chartered Surveyors (Rics). Its latest monthly survey shows that sellers are now beginning to return to the property market. But they are still being outweighed by the number of potential buyers registered with ... more » Monday, November 9
Prices to fall in 2010?
by
Jet-to-Let Magazine
on Mon 09 Nov 2009 17:34 GMT
Property group Savills is predicting ups and downs within the housing market over the next five years - according to the group, after a 3.7% rise in values this year, the market will see peaks and troughs... Next year will see a drop of around 6-7%, while values will rise ... more » Thursday, November 5
Decision due on economic stimulus
by
Jet-to-Let Magazine
on Thu 05 Nov 2009 11:01 GMT
The Bank of England's rate-setters are due to announce at midday if they want to pump extra cash into the economy. They have spent £175bn on quantitative easing, which involves printing money to buy assets from banks and other companies to stimulate the economy. The decision is due alongside their ... more » Monday, November 2
House prices edge higher
by
Jet-to-Let Magazine
on Mon 02 Nov 2009 09:54 GMT
House prices have edged upwards for the third consecutive month in spite of signs of a slowdown in demand from new buyers, according to Hometrack, a research company. Its monthly survey of estate agents and surveyors in England and Wales showed that house prices grew by 0.2 per cent in ... more » Monday, October 26
HBOS overdraft fees criticised
by
Jet-to-Let Magazine
on Mon 26 Oct 2009 10:29 GMT
Most customers with an authorised overdraft will pay £1 a day whilst those whose overdrafts are unauthorized will pay £5 per day from 6 December. HBOS says the change will make its charges simpler for customers. But Which? says anyone who regularly uses their overdraft facility will see a big ... more » Friday, October 23
Record recession for UK economy
by
Jet-to-Let Magazine
on Fri 23 Oct 2009 12:13 BST
The UK economy unexpectedly contracted by 0.4% between July and September, according to official figures, meaning the country is still in recession. It is the first time UK gross domestic product (GDP) has contracted for six consecutive quarters, since quarterly figures were first recorded in 1955. But the figures could ... more » Thursday, October 22
Banks 'to lend more in mortgages'
by
Jet-to-Let Magazine
on Thu 22 Oct 2009 15:49 BST
Lenders expect the availability of mortgages to rise in the coming months as the outlook for the UK economy improves, a report has said. The projection comes after availability dipped in the third quarter of the year, according to the Bank of England's Trends in Lending report. New mortgages became ... more » Wednesday, October 21
Home sales rise in summer months
by
Jet-to-Let Magazine
on Wed 21 Oct 2009 11:39 BST
Property sales in the UK picked up over the summer, according to figures from HM Revenue & Customs (HMRC). Sales rose from 80,000 in August to 82,000 in September. More significantly, sales in the third quarter of the year, covering July to September, were 11% higher than in the previous ... more » |
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