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Monday, January 28
Call to continue Hips concession
by
Jet-to-Let Magazine
on Mon 28 Jan 2008 17:16 GMT
Campaigners want sellers to keep the right to put their home on the market before their home information pack (Hip) is completed. At present owners can market their properties as soon as they have commissioned a Hip, but from June it will have to be completed first. Pressure ... more »
House prices slip -0.3% in January
by
Jet-to-Let Magazine
on Mon 28 Jan 2008 16:52 GMT
House prices fell for the fourth month in a row in January with average values falling by 0.3%, the same decline as last month. Research by Hometrack found that the year on year rate of growth has also slipped back, to +2.3%, which represents the lowest rate of growth ... more » Friday, January 25
Darling bows to pressure on CGT reform
by
Jet-to-Let Magazine
on Fri 25 Jan 2008 10:29 GMT
The Chancellor has said that tens of thousands of small business owners will benefit from a new "entrepreneurs' relief" after he bowed to business pressure to amend his capital gains tax reform plans. Alistair Darling told the House of Commons that he would spend £200m of the £900m he ... more »
Mortgage approvals hit by credit crunch
by
Jet-to-Let Magazine
on Fri 25 Jan 2008 10:22 GMT
The number of mortgages granted to new home buyers plunged to a record low last month as banks struggled with the credit crunch and potential buyers hesitated in the face of higher mortgage rates. Only 42,088 mortgages were approved for new buyers by banks in December, lower than at ... more » Wednesday, January 23
MPC damps aggressive cut expectations
by
Jet-to-Let Magazine
on Wed 23 Jan 2008 17:12 GMT
The Bank of England’s monetary policy committee voted eight to one to leave interest rates unchanged last month, according to minutes of the meeting published on Wednesday, while official statistics showed growth slowed slightly less than expected in the fourth quarter. The MPC felt that “the short-run inflation outlook ... more »
CBI director Lambert forecasts 'soft landing'
by
Jet-to-Let Magazine
on Wed 23 Jan 2008 17:10 GMT
Richard Lambert, the director general of the CBI, predicts a "soft landing" in the Mr Lambert was speaking ahead of a surprise three-quarter point cut in US interest rates that saw the FTSE 100 index bounce by 161.9 ... more » Tuesday, January 22
Record mortgage lending in 2007
by
Jet-to-Let Magazine
on Tue 22 Jan 2008 15:18 GMT
Last year saw the strongest gross mortgage lending to date, but the market is weakening, the Council for Mortgage Lenders (CML) has said. CML figures showed gross lending reached £362bn in 2007, up 5% from £345bn in 2006, and above its forecast. However, gross lending was £22.6bn last month, ... more » Wednesday, January 16
Rate cut in doubt as unemployment falls
by
Jet-to-Let Magazine
on Wed 16 Jan 2008 17:46 GMT
The number of people claiming unemployment benefit fell to its lowest level for more than 30 years, while British average earnings unexpectedly rose in the three months to November. Figures from the Office for National Statistics (ONS) show that average earnings growth, including bonuses, remained steady at 4 per ... more » Tuesday, January 15
UK inflation steady in December
by
Jet-to-Let Magazine
on Tue 15 Jan 2008 16:31 GMT
Last month's Consumer Prices Index figure - the government's preferred measurement - held at 2.1% for a third month in succession. The biggest inflationary pressure was continuing high food prices, the Office for National Statistics (ONS) said. The ... more » Friday, January 11
Northern Rock starts to repay taxpayer
by
Jet-to-Let Magazine
on Fri 11 Jan 2008 16:21 GMT
Northern Rock is to repay £2.2bn of its £26bn Bank of England loan after selling a portfolio of mortgages to The ailing lender has agreed to sell its "Lifetime Portfolio" of equity release mortgages, which account for just 2pc of its total assets, for ... more » Thursday, January 10
Bank keeps interest rates on hold
by
Jet-to-Let Magazine
on Thu 10 Jan 2008 12:14 GMT
Bank of England policymakers have decided to keep The decision is likely to disappoint some retailers, who had called for a ... more » Wednesday, January 9
PM tells banks to pass on rate cuts
by
Jet-to-Let Magazine
on Wed 09 Jan 2008 17:00 GMT
Gordon Brown and Alistair Darling last night warned mortgage lenders they should pass on interest rate cuts to homeowners. The Prime Minister said the banks had a duty to pass on the cuts after it emerged almost one in five had not done so. Their inaction leaves hundreds of ... more » Tuesday, January 8
UK mortgage market continues to respond to global credit conditions
by
Jet-to-Let Magazine
on Tue 08 Jan 2008 13:37 GMT
Data released today showed that affordability in the mortgage market continued to show some resilience to tightening credit market conditions in November. Income multiples again declined modestly, reinforcing the trend that began in early autumn. First-time buyers typically borrowed 3.33 times their income, a figure that has fallen each month ... more »
House prices rise as 2007 ends
by
Jet-to-Let Magazine
on Tue 08 Jan 2008 12:16 GMT
House prices rose by 1.3% in December, following three months of falls, the Monday, January 7
UK faces dangerous year, says Brown
by
Jet-to-Let Magazine
on Mon 07 Jan 2008 17:02 GMT
Gordon Brown on Sunday warned Although he insisted Monday, December 17
CBI cuts economy growth forecast to 2pc
by
Jet-to-Let Magazine
on Mon 17 Dec 2007 14:26 GMT
The CBI employers' organisation has cut its forecast for
House prices drop by 3.2% 'on Hips effect'
by
Jet-to-Let Magazine
on Mon 17 Dec 2007 14:24 GMT
The website's latest survey of asking prices showed a dramatic fall from an average of £239,986 ... 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 » Friday, November 30
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 » Tuesday, November 27
Darling hints at capital gains tax U-turn
by
Jet-to-Let Magazine
on Tue 27 Nov 2007 11:46 GMT
Alistair Darling today signalled that he may backtrack on his unpopular changes to capital gains tax, as critics continued to attack his decision to announce the proposal without consulting the business community first. Speaking at the CBI annual conference this lunchtime, the chancellor said he was "open to suggestions" ... more » Thursday, November 22
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 »
New legislation for greener, more affordable housing
by
Jet-to-Let Magazine
on Wed 21 Nov 2007 10:38 GMT
A new Bill which will drive forward the Government’s pledge to build 3 million greener, more affordable new homes by 2020 to help first-time buyers and families was published today by Housing Minister Yvette Cooper. New measures in the Housing and Regeneration Bill include legislation to remove barriers to ... more » Friday, November 9
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 » 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 » Tuesday, October 16
Tories to vote against CGT change
by
Jet-to-Let Magazine
on Tue 16 Oct 2007 14:53 BST
Conservative MPs will vote against part of the upcoming finance bill if it includes controversial changes to the capital gains tax (CGT), detailed in last week's pre-budget report, the shadow chancellor George Osborne said yesterday. As a growing number of lobby groups and business people voiced their dismay at the ... more » Thursday, October 11
Banks hold rates as UK house prices slow
by
Jet-to-Let Magazine
on Thu 11 Oct 2007 14:45 BST
The British and European central banks keep their interest rates unchanged in the face of more volatility in the financial marketsDearbail The Bank of England’s Monetary Policy Committee's (MPC) voted today to keep the interest rates unchanged at 5.75 per cent, as the six-year high in borrowing costs ... more »
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
House prices drop for first time this year
by
Jet-to-Let Magazine
on Thu 04 Oct 2007 09:56 BST
House prices have fallen for the first time this year, according to the latest monthly survey from The slide was led by prices in
No change expected for UK rates
by
Jet-to-Let Magazine
on Thu 04 Oct 2007 09:54 BST
The Bank of England is expected to keep interest rates on hold at 5.75% later while it assesses the economic impact of the recent financial turmoil. Most experts believe policymakers will adopt a "wait and see" policy on rates until a clearer picture emerges of the effects of the ... 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 » Tuesday, September 18
One-in-ten chance of housing crash, says RICS
by
Jet-to-Let Magazine
on Tue 18 Sep 2007 14:19 BST
There is a one-in-ten chance of a crash in the housing market over the next year, according to the Royal Institution of Chartered Surveyors. Simon Rubinsohn, chief economist for the RICS, also said there was a 20-per-cent chance of a 10-per-cent drop in 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 »
Alan Greenspan warns of UK house prices drop
by
Jet-to-Let Magazine
on Mon 17 Sep 2007 17:13 BST
Alan Greenspan, the former head of
Alan Greenspan warned recent increases in house prices were unsustainable He warns of "difficulties" ahead for
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 » Wednesday, September 12
House price inflation ‘slowing’
by
Jet-to-Let Magazine
on Wed 12 Sep 2007 09:37 BST
House prices increased by 0.4% in August, according to reports by the
Buy-to-let alive and well
by
Jet-to-Let Magazine
on Wed 12 Sep 2007 09:36 BST
Buy-to-let investors are continuing to pile into the property market in spite of rising interest rates, lured by strong rises in rents, the Royal Institution of Chartered Surveyors said today. Demand for rental property is being supported by the inability of many would-be first-time buyers to afford anything. It is ... more » |
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