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Friday, January 30
Mortgage approvals rise slightly
by
Jet-to-Let Magazine
on Fri 30 Jan 2009 12:28 GMT
The number of new mortgages approved for home buyers picked up slightly in December, says the Bank of England. There were 31,000 mortgage approvals, up from 27,000 in November, but still the second lowest figure on record. Lending slumped by 58% during 2008, with just 519,000 home loans approved, compared ... more » Thursday, January 29
Bank of England Forecast To Cut Interest Rates To Another Historic Low
by
Jet-to-Let Magazine
on Thu 29 Jan 2009 14:25 GMT
LONDON (Reuters) - The Bank of England is very likely to cut interest rates to another 300-year low in February to deaden the blow from what is already the fastest pace of economic decline in nearly three decades. Sixty-one of 68 economists polled by Reuters January 28-29 said the Monetary ... more »
London homeowners see prices fall by £900 a week
by
Jet-to-Let Magazine
on Thu 29 Jan 2009 11:58 GMT
London homeowners saw almost £900 a week fall off the value of their properties last year. Prices of flats and houses slumped a further 2.3 per cent last month, the ninth consecutive monthly fall, according to official Land Registry figures It brought an end to the worst year for the ... more » Wednesday, January 28
Irish Economy Vulnerable - EU
by
Jet-to-Let Magazine
on Wed 28 Jan 2009 13:38 GMT
The European Commission has warned the Irish economy is particularly vulnerable in the wake of the housing boom and the erosion of its competitive position. In a report released today, the Commission recommends careful prioritisation of public spending, strengthening productivity and rebuilding competitiveness as key factors in helping the country ... more »
US interest rates kept near zero
by
Jet-to-Let Magazine
on Wed 28 Jan 2009 11:29 GMT
The US Federal Reserve has kept interest rates unchanged but has pledged to "employ all available tools" to revive the economy. Last month, the central bank cut rates as low as they can go - to a range of zero to 0.25%. The Fed said it was prepared to use ... more » Tuesday, January 27
The Mortgage Myth – You can secure one
by
Jet-to-Let Magazine
on Tue 27 Jan 2009 15:24 GMT
A look at a newspaper or a listen to the daily news may give the impression that mortgages are as rare as hens’ teeth, but the truth is somewhat different. It is possible to get a mortgage, even in these days of financial crisis and house price gloom, but it ... more » Monday, January 26
Is housing market starting to pick up?
by
Jet-to-Let Magazine
on Mon 26 Jan 2009 09:30 GMT
Norwich has been hit hard over the past year by a fall in house prices and a slowdown in the property market. But city estate agents say signs are slowly beginning to emerge that confidence and interest in the market is growing. REBECCA GOUGH reports. Homeowners in East Anglia saw ... more » Friday, January 23
Dominic Farrell: A Year Of Opportunities - It's Just Beginning
by
Jet-to-Let Magazine
on Fri 23 Jan 2009 14:32 GMT
Dear Investor
I am now back in the Liverpool office full-time after the Christmas break and looking forward to an exciting 2009. There has been a lot going on in the world recently, from the fighting in Gaza, a new President of the United States and the Recession, which has ... more »
UK in recession as economy slides
by
Jet-to-Let Magazine
on Fri 23 Jan 2009 13:08 GMT
The UK is now in recession for the first time since 1991, official government figures have confirmed. Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter. That means that the widely accepted definition of a recession - two ... more » Thursday, January 22
Pound still close to 23-year low
by
Jet-to-Let Magazine
on Thu 22 Jan 2009 12:19 GMT
Sterling has fallen back close to a 23-year low against the dollar, erasing earlier gains. The pound stood at $1.3915 against the dollar and was worth 1.0688 euros. On Wednesday, the pound fell to $1.3620, its weakest level since late 1985, on worries over the strength of the UK economy ... more » Wednesday, January 21
Mortgages 'fell by 30% in 2008'
by
Jet-to-Let Magazine
on Wed 21 Jan 2009 14:27 GMT
UK mortgage lending fell by 30% in 2008 to the lowest level since 2002, the Council of Mortgage Lenders (CML) says. Lending totalled £256.4bn last year, compared with £363.7bn in 2007, as the credit crunch triggered a mortgage drought making it harder to get a loan. Analysts say that even ... more » Tuesday, January 20
3 Day Economics Course – Understanding Economics To Beat The Recession
by
Jet-to-Let Magazine
on Tue 20 Jan 2009 16:04 GMT
BUSINESS AND INVESTMENT TRAINING
3 Day Economics Course – Understanding Economics To Beat The Recession Whether you are a business leader, property or stock market investor, work in financial services or have a keen interest in economics then this 3 day course is a must and will assist you in ... more »
Bank woes push pound below $1.40
by
Jet-to-Let Magazine
on Tue 20 Jan 2009 13:54 GMT
Concerns about the UK banking sector have further undermined the pound, with the currency sliding below $1.40. Sterling also hit a record low against the Japanese currency at 127.47 yen. Against the dollar, it reached $1.3965, its lowest level since 2001. Some analysts have suggested a fresh bail-out for the ... more » Sunday, January 18
AS INTEREST HITS RECORD LOW, GET YOURSELF IN A FIX
by
Jet-to-Let Magazine
on Sun 18 Jan 2009 10:45 GMT
BORROWERS with tracker mortgages have had plenty to smile about in recent months, as falling interest rates have heralded a series of cuts in their monthly repayments. But it’s been a different story for savers with money in variable-rate savings accounts, as they have seen interest decimated in the wake ... more » Friday, January 16
ECB Rate Cut Appropriate Says the IMF
by
Jet-to-Let Magazine
on Fri 16 Jan 2009 11:36 GMT
WASHINGTON (Reuters) - The European Central Bank's half point interest rate cut on Thursday is appropriate and reflects a further weakening in the global and European economies, the International Monetary Fund said. "The cut reflects further weakening in global and European economies and is necessary to stem disinflationary pressures from ... more » Wednesday, January 14
Mortgage rescue plan is extended
by
Jet-to-Let Magazine
on Wed 14 Jan 2009 10:34 GMT
A scheme aimed at stopping thousands of vulnerable people losing their homes is being extended across England. Not-for-profit housing associations will buy homes from people struggling to pay their mortgage - who will then be allowed to continue to live there. The government says the £200m scheme could help up ... more »
German GDP contracts sharply in fourth quarter
by
Jet-to-Let Magazine
on Wed 14 Jan 2009 10:29 GMT
Germany’s economy could have contracted by as much as 2 per cent in the final quarter of last year, the country’s statistical office warned on Wednesday. Preliminary estimates, indicating that gross domestic product fell by between 1.5 per cent and 2 per cent compared with the previous three months, highlight ... more » Tuesday, January 13
"Disneyland Of The Mediterranean" in Larnaca
by
Jet-to-Let Magazine
on Tue 13 Jan 2009 14:37 GMT
Translation from Greek to English
RUSSIANS WISH TO INVEST 800 MILLION EUROS AND BRING HALF MILLION TOURISTS TO CYPRUS “DISNEYLAND OF THE MEDITERRANEAN” IN PYLA Russian investors wish to build a theme park in Pyla in a land of over 600 donums. The project is estimated at a cost ... more »
Dominic Farrell: Awesome News From Cyprus, My New Blog And Paranoia
by
Jet-to-Let Magazine
on Tue 13 Jan 2009 14:22 GMT
Dear Investor,
We received a press release from Cyprus over the weekend of potentially gigantic proportions for the economy and property investors in the Larnaca area. Russian investors, backed by the Russian government, are proposing to invest €800 million to build a “Disneyland of the Mediterranean” in Larnaca . Originally ... more »
Slowest house sales in 30 years reported
by
Jet-to-Let Magazine
on Tue 13 Jan 2009 11:49 GMT
The rate at which houses are sold has fallen to its lowest in at least 30 years, according to figures from the Royal Institution of Chartered Surveyors, which has conducted monthly surveys since 1978. Rics said the average number of house sales per surveyor’s office fell to 10.1 in the ... more » Monday, January 12
Pound eases after record run
by
Jet-to-Let Magazine
on Mon 12 Jan 2009 12:44 GMT
The pound retreated on Monday, as traders took profits following a strong run last week and as Ireland accused the UK of engineering sterling’s recent slump. Sterling put in it best performance against the euro since the inception of the single currency in 1999 last week and posted its largest ... more » Sunday, January 11
Property predictions after an historic year
by
Jet-to-Let Magazine
on Sun 11 Jan 2009 13:46 GMT
Predicting the future of any market is treacherous , so with that in mind I will attempt the impossible and predict what will happen in the residential property market in 2009. But before looking forward it is wise to review the past, and in particular the recent past. When the ... more » Saturday, January 10
Interest rates hit all-time low
by
Jet-to-Let Magazine
on Sat 10 Jan 2009 16:26 GMT
The Bank of England has cut interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery. The half percentage point reduction brings interest rates below 2% for the first time since the Bank of England was founded in 1694. Manufacturers' ... more » Thursday, January 8
Dominic Farrell: An Exciting Year Ahead As Those Who Dare Win
by
Jet-to-Let Magazine
on Thu 08 Jan 2009 15:52 GMT
Dear Investor,
Happy New Year!
With the exception of me, we are all now back in the offices in Liverpool and Larnaca after a well-earned Christmas leave. However, I will be part-time for a couple of weeks and will be back in the office full-time mid-January.
more »
Bank of England cuts rates by 50 basis points
by
Jet-to-Let Magazine
on Thu 08 Jan 2009 12:27 GMT
The Bank of England’s Monetary Policy Committee (MPC) has just cut rates by 0.5%, in line with analysts’ expectations. This brings UK Central Bank rates to just 1.5%, the lowest since the Bank was established in 1694. The move is the latest dramatic step towards tackling the increasingly severe downturn ... more »
Rates tipped to hit all-time low
by
Jet-to-Let Magazine
on Thu 08 Jan 2009 10:49 GMT
The Bank of England is expected to cut interest rates to the lowest level in its 315-year history when it makes its monthly decision later. With rates currently at 2%, the Bank's Monetary Policy Committee is tipped to announce a reduction of between 0.5 and one percentage point. This would ... more » Tuesday, January 6
London house prices "could explode"
by
Jet-to-Let Magazine
on Tue 06 Jan 2009 09:31 GMT
LONDON (Reuters) - London can expect a future explosion in house prices unless there is an increase in construction during the economic downturn, one of the city's key figures said on Tuesday. Peter Rogers, chief executive at the London Development Agency (LDA), said prices will rocket because of pent-up demand.... more » Thursday, January 1
City flats may have bottomed
by
Jet-to-Let Magazine
on Thu 01 Jan 2009 09:06 GMT
Flats in Leeds, Liverpool, Manchester and Sheffield have been selling for between 30pc-60pc below their peak value of 2007 at auction but Allsop said it has begun to see prices of repossessed properties steadying as potential buyers identify bargains. The value of the northern apartments has fallen rapidly amid low ... more » Monday, December 29
US consumer confidence at low with record fall in house prices
by
Jet-to-Let Magazine
on Mon 29 Dec 2008 17:24 GMT
American house prices fell by their fastest rate on record last month amid deep pessimism over the economy and the expectation of the worst Christmas shopping figures for 40 years. The data reveal that the world's biggest economy shows no sign of recovery. This will increase pressure on Barack Obama, ... more » Sunday, December 28
After the pain, America prepares to bounce back
by
Jet-to-Let Magazine
on Sun 28 Dec 2008 17:20 GMT
We Americans can now fill the capacious tanks of our 4x4s at almost half the price that prevailed a few months ago. The interest rate on mortgages is lower than it has been in almost four decades, so applications are soaring to levels not seen in five years. The unemployment ... more » Saturday, December 27
Mortgage supply is key to continuing house price decline
by
Jet-to-Let Magazine
on Sat 27 Dec 2008 16:07 GMT
To date, the property market downturn has been the most palpable effect of the recession for the majority of households. There will be no respite in the new year, with rising unemployment causing more homeowners to fall into arrears. The numbers behind with their repayments may rise from 210,000 to ... more » Tuesday, December 23
Lending Levels Will Increase In 2009
by
Jet-to-Let Magazine
on Tue 23 Dec 2008 15:58 GMT
The 2009 housing market forecast from Assetz predicts that although there will be some moderate house price falls in the first half of the year, the second half will see the property market start to bottom out. Sales activity is also expected to pick up in the latter half of ... more » Friday, December 19
More first time buyers entering the market
by
Jet-to-Let Magazine
on Fri 19 Dec 2008 15:56 GMT
House prices across the UK plummeted in November, according to the monthly market report from the National Association of Estate Agents (NAEA). However amongst the gloomy figures revealed by the survey there were glimmers of hope, as for the third month in a row the percentage of first time buyers ... more » Wednesday, December 17
Nationwide in 95% mortgage market
by
Jet-to-Let Magazine
on Wed 17 Dec 2008 15:51 GMT
Nationwide has launched a new mortgage for existing borrowers who have just 5 per cent equity in their homes. The lender is the first to re-enter the high loan-to-value market following a mass withdrawal by mortgage providers earlier this year as property prices started to fall. Nationwide’s new deal is, ... more » Tuesday, December 16
Will 2008 be a watershed for the buy-to-let sector?
by
Jet-to-Let Magazine
on Tue 16 Dec 2008 15:46 GMT
By any measure 2008 has been a grim year for most people who invested in the housing market. The freezing up of credit has sent property prices tumbling, and made it virtually impossible to get a decent buy-to-let mortgage without a deposit of at least 25pc. And while rents initially ... more » Monday, December 15
Dominic Farrell: Investors Who Dare In 2009 Will Win
by
Jet-to-Let Magazine
on Mon 15 Dec 2008 17:58 GMT
Dear Investor
Since the last newsletter we completed three days of staff training and development in Germany and also managed to squeeze in a very enjoyable staff Christmas dinner on the River Mosel. The flight home was ‘interesting’ with a fire in one of the engines starting with a loud ... more »
New housing starts at lowest level since 1924
by
Jet-to-Let Magazine
on Mon 15 Dec 2008 15:42 GMT
Homebuilding in Britain has fallen to a 84-year low as falling house prices and dwindling numbers of buyers hit construction firms, a new report shows. Some 135,000 private houses were started this year, down from 203,500 last year, figures from the Construction Products Association and Ernst & Young show. It ... more » Friday, December 12
When will the UK property market recover?
by
Jet-to-Let Magazine
on Fri 12 Dec 2008 15:38 GMT
This year has been one that most home-owners would rather forget. Price falls, currently wiping about £80 off the average property each day, show no sign of abating and will continue well into next year. So say the forecasters, many of whom were caught out by the steeper than anticipated ... more » Wednesday, December 10
Mortgage lenders seek greater clarity as the lending slump continues
by
Jet-to-Let Magazine
on Wed 10 Dec 2008 15:27 GMT
There were 39,900 house purchase loans in October, worth £5.5 billion, according to new data from the Council of Mortgage Lenders. This was an increase of 14% in volume and 10% in value from September, but an annual decline of 52% in volume and 57% in value. The rise in ... more » Tuesday, December 9
Mortgages issued for house purchases rise for first time in six months
by
Jet-to-Let Magazine
on Tue 09 Dec 2008 15:13 GMT
The number of loans for house purchase - issued to first-time buyers and home movers - rose to 39,900 in October, up 4,900 on the previous month. And the number of remortgages rose to 70,000 in October, up 8,000 on the previous month, according to the Council of Mortgage Lenders.... more » |
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