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Thursday, April 30
UK house prices 'down in April'
by
Jet-to-Let Magazine
on Thu 30 Apr 2009 10:53 BST
House prices in the UK fell by 0.4% in April reversing some of the rise seen in March, according to the Nationwide. The building society's figures show that the pace of decline in house prices slowed, but the typical home still cost 15% less than a year ago. The price ... more » Wednesday, April 29
Price split in home rental market
by
Jet-to-Let Magazine
on Wed 29 Apr 2009 17:19 BST
Rents for UK homes are cheaper than a year ago, according to a survey, but while flats have come down in price larger houses are bucking the trend. The average rent stood at £819 a month in April, falling from £827 in March and £873 a year earlier, said website ... more » Tuesday, April 28
US house prices continue to fall
by
Jet-to-Let Magazine
on Tue 28 Apr 2009 09:01 BST
US house prices continued to fall in February, but the rate of decline in some markets is slowing down, a leading index has indicated. Prices were 18.6% lower than in February 2008, the Standard & Poor's/Case-Shiller Home Price index said. This was slightly better than the 19% annual fall seen ... more » Monday, April 27
Nationwide axes mortgage promise
by
Jet-to-Let Magazine
on Mon 27 Apr 2009 10:22 BST
The UK's biggest building society, the Nationwide, will no longer promise new borrowers that it will peg its variable rate mortgages to the Bank rate. Existing customers on the Nationwide's variable rate home loan, called BMR, are guaranteed to pay no more than 2% above the Bank rate, currently at ... more » Friday, April 24
Banks face fines for poor service
by
Jet-to-Let Magazine
on Fri 24 Apr 2009 09:38 BST
Banks will face fines for poor treatment of their customers when the City watchdog takes over regulation of retail banking conduct in November. The Financial Services Authority (FSA) will replace a voluntary banking code with its own rules for banks, building societies and credit unions. It said this would ensure ... more » Thursday, April 23
Borrowers flock to Northern Rock
by
Jet-to-Let Magazine
on Thu 23 Apr 2009 17:21 BST
The nationalised Northern Rock bank has reported an upsurge in potential mortgage customers. The number of new mortgage applications rose by 70% between February and March. The bank said its deals had become more competitive, even before it embarks on its plan to lend an extra £14bn in the next ... more » Wednesday, April 22
Pound hit as debt burden to soar
by
Jet-to-Let Magazine
on Wed 22 Apr 2009 09:20 BST
The pound has fallen against the dollar and the euro after Chancellor Alistair Darling forecast a massive increase in UK public debt. In his Budget speech, Mr Darling said that debt would increase to 68% of the UK's economic output next year. Analysts said the rise had triggered concerns about ... more » Tuesday, April 21
Mortgage support scheme underway
by
Jet-to-Let Magazine
on Tue 21 Apr 2009 16:31 BST
A scheme to allow some mortgage borrowers to stay in their homes if they fall on hard times has begun. The Homeowners Mortgage Support Scheme (HMSS) will allow borrowers to defer up to 70% of mortgage interest payments if they lose some of their income. The plan is one of ... more » Monday, April 20
Economy 'no longer in free fall'
by
Jet-to-Let Magazine
on Mon 20 Apr 2009 09:27 BST
The economy is no longer in free fall and a recovery next spring is likely, a renowned economic think tank has said. Stabilising markets and the easing of credit conditions may well mean that the worst of the recession is over, the Ernst & Young Item Club said. It is ... more » Thursday, April 16
CML research on housing equity through the downturn
by
Jet-to-Let Magazine
on Thu 16 Apr 2009 17:17 BST
At the depth of the last housing market recession in 1993, 1.5 million households or more were estimated to have negative equity. Most sat tight, saved, continued to pay their mortgages and eventually recovered their equity position. And, according to the Council of Mortgage Lenders, this is what most of today's ... more » Wednesday, April 15
Mortgage lending shows signs of stabilising
by
Jet-to-Let Magazine
on Wed 15 Apr 2009 10:57 BST
The housing market is showing signs of stabilising, albeit at very low levels, with average sales up slightly in March and a smaller majority of estate agents still reporting falling prices, according to a leading survey. The monthly findings from the Royal Institution of Chartered Surveyors show that the number ... more »
Dominic Farrell: Is The UK Property Market Reaching A Bottom?
by
Jet-to-Let Magazine
on Wed 15 Apr 2009 09:54 BST
Dear Investor,
There has been some encouraging news recently concerning the UK property market. The news can be summarised as follows:
Tuesday, April 14
Surveyors report market momentum
by
Jet-to-Let Magazine
on Tue 14 Apr 2009 10:40 BST
Interest from home-buyers is starting to gain "real momentum", although sales remain low, UK surveyors say. New enquiries in the housing market increased for the fifth consecutive month, the Royal Institution of Chartered Surveyors (Rics) poll found. However, surveyors were still selling fewer than 10 homes on average each over ... more » Monday, April 13
Sales of UK country property increasing in some areas
by
Jet-to-Let Magazine
on Mon 13 Apr 2009 10:28 BST
Sales volumes for country property in the UK are increasing in some areas but average prices have now fallen by 20% in the last 12 months, according to research. Prices for prime country houses dropped on average by 4.7% in the first quarter of 2009, compared with a 9% fall ... more » Friday, April 10
House prices 'about to start rising' as market reaches bottom
by
Jet-to-Let Magazine
on Fri 10 Apr 2009 10:20 BST
THE housing market may be about to start rising again, economists have predicted. The Centre for Economics and Business Research (CEBR) says house prices may have less than 10 per cent left to fall before they reach rock bottom, and that purchases were likely to begin to rise over the ... more » Thursday, April 9
Bank keeps interest rates at 0.5%
by
Jet-to-Let Magazine
on Thu 09 Apr 2009 15:54 BST
The Bank of England has kept interest rates on hold at 0.5%, in a widely expected move following a number of rate cuts in recent months. Rates remain at an all-time low after six cuts since October last year, when interest rates stood at 5%. The Bank is also continuing ... more » Wednesday, April 8
Dominic Farrell: The Money Tsunami, Economy And Property Investment Seminar In London
by
Jet-to-Let Magazine
on Wed 08 Apr 2009 15:08 BST
Dear Investor,
It’s been a few weeks since my last e-newsletter and from both a business and personal perspective it has been extremely busy. I had lunch at Anfield (thanks Colin, Peter and John), lost some money at Aintree Races (great to see the Patel and Smith families), and went ... more » Tuesday, April 7
Lenders still want high deposits
by
Jet-to-Let Magazine
on Tue 07 Apr 2009 12:06 BST
Mortgage lenders are still demanding high deposits from buyers as the number of deals expands. More than two-thirds of the 1,485 mortgage deals on offer require the customer to put up a deposit of at least 25%, according to Moneyfacts. This crept up slightly to 68% of home loans on ... more » Monday, April 6
Tougher home pack rules in force
by
Jet-to-Let Magazine
on Mon 06 Apr 2009 10:20 BST
New rules have come into force which mean home owners must have a home information pack (Hip) in place before putting their property on the market. Previously, sellers could simply order a Hip before erecting a for-sale sign. Vendors must also set out extra details such as the home's council ... more » Friday, April 3
House prices 'drop 1.9% in March'
by
Jet-to-Let Magazine
on Fri 03 Apr 2009 09:17 BST
UK house prices fell by 1.9% in March compared with the previous month, according to the Halifax. The lender - now part of Lloyds Banking Group - said that conditions in the housing market would remain tough for the rest of the year. The average UK home now costs £157,226, ... more » Wednesday, April 1
G20 call for action amid protests
by
Jet-to-Let Magazine
on Wed 01 Apr 2009 15:00 BST
US President Barack Obama has spoken of a "sense of urgency" needed to confront the global economic crisis. The President met UK Prime Minister Gordon Brown at Downing Street ahead of the G20 summit of world leaders. Mr Brown said the G20 leaders were hours away from agreeing a plan ... more » Monday, March 30
Surprise mortgage approvals jump
by
Jet-to-Let Magazine
on Mon 30 Mar 2009 16:57 BST
Mortgage approvals for house purchases in Britain rose more than expected in February, according to official figures from the Bank of England. There were 38,000 approvals in the month, up from 32,000 in January. There was also the biggest net repayment of consumer debt since records began in April 1993. ... more » Wednesday, March 25
Tenants 'haggling' as rents fall
by
Jet-to-Let Magazine
on Wed 25 Mar 2009 13:12 GMT
The cost of renting a home has continued to fall as UK householders let out their homes in a bid to beat the recession. Two surveys suggest that there has been a surge in properties available to rent, pushing down costs for tenants. Tenants, aware of the falling prices, have ... more » Tuesday, March 24
Key inflation measure hits zero
by
Jet-to-Let Magazine
on Tue 24 Mar 2009 10:03 GMT
A key measure of UK inflation has fallen to zero for the first time in 49 years, official figures show. The Retail Prices Index (RPI), which includes housing costs, fell to 0% in February on an annual basis from 0.1% in January. There are concerns that if prices keep falling, ... more » Friday, March 20
Dominic Farrell: Sterling, Euro, The Global Economy And Distressed Assets Seminar In London
by
Jet-to-Let Magazine
on Fri 20 Mar 2009 16:23 GMT
Dear Investor I am now back in Liverpool having been around the country at various events, including my annual university football club reunion, lunches in London with various professional advisors and a catch-up with a couple of military friends. Notable successes last week were the cracking results for Liverpool against ... more » Thursday, March 19
Dollar slides after US Fed plan
by
Jet-to-Let Magazine
on Thu 19 Mar 2009 11:25 GMT
The dollar has fallen against all major currencies after the US Federal Reserve announced a plan to buy $1.2tn (£843bn) of debt to boost its economy. The dollar fell by 2.9% against the euro and by 2.5% against the pound. The US currency also declined against the yen, the Norwegian ... more » Tuesday, March 17
UK house prices slump but hold up best in Scotland
by
Jet-to-Let Magazine
on Tue 17 Mar 2009 15:59 GMT
House prices across the UK fell 11.5 per cent in January from a year earlier, the government reported today. The average price dropped to £195,724 in January, the Department for Communities and Local Government said. But prices held up best in Scotland, where they were 6.3 perc ent below the ... more » Monday, March 16
Nationwide raises mortgage tracker rates
by
Jet-to-Let Magazine
on Mon 16 Mar 2009 17:02 GMT
Nationwide Building Society announced plans to increase some of its mortgage rates by up to 0.3% today. The lender has repriced its two-year tracker mortgage for people remortgaging with a 40% deposit to 3.93%, up from 3.63% previously. Thursday, March 12
Dominic Farrell: PRESS RELEASE: Astute Investors Buck The Trend And Snap Up UK Distressed Property Assets
by
Jet-to-Let Magazine
on Thu 12 Mar 2009 13:23 GMT
Distressed Assets, a Liverpool based property research and acquisition company has seen a sharp increase in the number of enquiries from investors for its bespoke property purchase service. As UK property prices tumble and recessionary woes continue, astute investors are seeing the opportunities that the present economic situation presents. Most ... more »
Mortgage lending slump continues
by
Jet-to-Let Magazine
on Thu 12 Mar 2009 11:30 GMT
Mortgage lending continued to fall in January, according to the Council of Mortgage Lenders (CML). Just 23,400 mortgages were completed for all house buyers, a new record low, with only 8,900 first-time buyers able to take out home loans. The number of mortgages lent was down by 28% from December, ... more » Wednesday, March 11
Bank to use 'newly created' money
by
Jet-to-Let Magazine
on Wed 11 Mar 2009 09:31 GMT
The Bank of England is to launch its latest attempt to boost the supply of credit and stimulate the UK economy, using £75bn it has, in effect, created. It will offer to buy up to £2bn of government bonds from investment institutions and individuals, in the first of a series ... more » Tuesday, March 10
Housing market 'still in a slump'
by
Jet-to-Let Magazine
on Tue 10 Mar 2009 09:13 GMT
UK property sales between December and February remained at their lowest level in at least 31 years, the country's surveyors have reported. Nine homes were sold per surveyor in the three months, the lowest since the Royal Institution of Chartered Surveyors' (Rics) survey began in 1978. This was despite the ... more » |
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