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Friday, July 31
UK's mortgage market 'still weak'
by
Jet-to-Let Magazine
on Fri 31 Jul 2009 10:36 BST
Despite recent figures from the Bank of England (BoE) indicating a rise in mortgage approvals last month, the market remains weak, it has been suggested. According to the Council of Mortgage Lenders (CML), the statistics are still low compared with previous levels. The BoE data showed that mortgage approvals for ... more » Thursday, July 30
House Prices Could Rise This Year
by
Jet-to-Let Magazine
on Thu 30 Jul 2009 09:56 BST
The house price trend is now pointing upwards, according to Nationwide, and the average value could end the year higher than it started it. Do you expect prices to continue rising or are we merely seeing a blip on the market? Sign in to join the debate. Nationwide says that ... more » Wednesday, July 29
UK rent rise
by
Jet-to-Let Magazine
on Wed 29 Jul 2009 17:06 BST
Latest research from LSL Property Services shows rents rising in June, for the first time in three months... As a result, yields rose to an average 5.1 per cent last month, reaching their highest point in five years.Average rents increased 1per cent, to £649, compared with May but remained ... more » Tuesday, July 28
Lack of buy-to-let mortgages 'holding back investors'
by
Jet-to-Let Magazine
on Tue 28 Jul 2009 16:35 BST
Landlords are being prevented from purchasing properties due to a lack of available buy-to-let mortgages, according to Paragon Mortgages. In its latest PRS Trends Report, it suggested that 43 per cent of landlords questioned reported that a lack of finance is the main obstacle preventing them from expanding their property ... more » Monday, July 27
Property prices down 3.2%, claims Zoopla
by
Jet-to-Let Magazine
on Mon 27 Jul 2009 10:20 BST
The average property price in England has declined 3.2% to £207,020 since January, according to Zoopla.co.uk. This compares to the 11.97% decline reported in the second half of last year, according to the figures from the portal, which bought Thinkproperty.com earlier this month and which remains locked in talks about ... more » Friday, July 24
Mortgage approvals hit 15 month high
by
Jet-to-Let Magazine
on Fri 24 Jul 2009 09:41 BST
Mortgage approvals by UK banks hit a 15 month high in June, fuelling hopes of a property market recovery, according to the British Bankers’ Association. A total of 35,235 mortgages were approved for house purchase last month, bettering May’s number of 31,919. Approvals were up by 65 per cent compared ... more » Thursday, July 23
Banks 'approving more mortgages'
by
Jet-to-Let Magazine
on Thu 23 Jul 2009 15:10 BST
Mortgage approvals by the major banks increased to a 15-month high in June, according to the British Bankers' Association (BBA). Some 35,235 mortgages were approved for house purchases in June, up from 31,919 the previous month, the BBA said. The figures reflected the banks' increased ability to lend and was ... more » Wednesday, July 22
Bank unanimous on rate decision
by
Jet-to-Let Magazine
on Wed 22 Jul 2009 15:15 BST
The Bank of England's interest rate setters voted unanimously to hold interest rates at the record low of 0.5% earlier this month. The Monetary Policy Committee (MPC) also agreed to maintain its £125bn quantitative easing (QE) programme. Minutes of the committee's July meeting showed it expected growth data for the ... more » Tuesday, July 21
Long-term fixed rate mortgages come to an end
by
Jet-to-Let Magazine
on Tue 21 Jul 2009 16:23 BST
The long-term fixed rate mortgage market has come to an end, as Manchester Building Society withdraws its 30-year fixed rate product. Now, according to Moneyfacts.co.uk, the longest period which a borrower can fix their mortgage for is 15 years. In July 2007, Prime Minister Gordon Brown said that longer term ... more » Monday, July 20
Summer rise in mortgage lending
by
Jet-to-Let Magazine
on Mon 20 Jul 2009 15:57 BST
The total amount of UK mortgage lending rose sharply in June compared with the previous month, according to lenders. The amount lent by members of the Council of Mortgage Lenders (CML) reached £12.3bn in June, up from £10.5bn a month earlier. However, the rise was mainly the result of the ... more » Friday, July 17
Tracker mortgages offer lowest rates
by
Jet-to-Let Magazine
on Fri 17 Jul 2009 14:22 BST
Tracker mortgages, which are traditionally attractive when interest rates are falling, are starting to offer better value to borrowers than some fixed deals even though the base rate is at a historical low. The sharp increases to fixed rates in recent weeks mean many borrowers have missed the opportunity to ... more » Thursday, July 16
Over half mortgage brokers want FSA to regulate buy-to-let
by
Jet-to-Let Magazine
on Thu 16 Jul 2009 13:48 BST
Just over half of all mortgage brokers believe buy-to-let should be regulated by the FSA, according to new research from Exact mortgage specialists. The research showed that two out of every five brokers said at least 90 per cent of their BTL clients were amateur landlords. Nearly two-thirds of brokers ... more » Wednesday, July 15
UK commercial property values drop 44% from peak
by
Jet-to-Let Magazine
on Wed 15 Jul 2009 13:42 BST
British commercial property markets have recorded the shallowest fall since August 2007, at -0.9%, according to June’s IPD UK Monthly Index. But the all property peak-to-trough now stands at -44.1%, while the 12-month change in capital values is -30.8%. Over this two-year period, the nature of this property recession has ... more » Tuesday, July 14
London house prices 'continuing to fall'
by
Jet-to-Let Magazine
on Tue 14 Jul 2009 10:12 BST
House prices in the capital are continuing to fall despite a nationwide improvement in the annual rate of decline, official figures have shown. Prices in the region have dropped by 16.3% during the past year, while most of the UK has witnessed a slight improvement in the rate of price ... more » Monday, July 13
Economy 'to dampen house prices'
by
Jet-to-Let Magazine
on Mon 13 Jul 2009 11:03 BST
The sluggish UK economy is likely to mean that house prices will not see any "meaningful" recovery for some time, two separate surveys suggest. There will be no "sustained" upturn until mortgages become more available, the Royal Institution of Chartered Surveyors (RICS) says. Meanwhile PricewaterhouseCoopers has warned further price falls ... more » Friday, July 10
Bank holds base rate at 0.5%
by
Jet-to-Let Magazine
on Fri 10 Jul 2009 13:33 BST
The Bank of England has held base rate at 0.5% for the fourth month in a row, while continuing with its £125bn programme of quantitative easing. Purchases of £112bn have been made under this facility since its use for monetary policy purposes was first announced after the Monetary Policy Committee’s ... more » Thursday, July 9
House prices down again in June
by
Jet-to-Let Magazine
on Thu 09 Jul 2009 12:19 BST
House prices fell by 0.5% in June, according to Halifax's house price index published this week, taking the average cost of a home down to £157, 713. House price inflation was still down by 1.9% in the second quarter of this year, though this is the smallest fall recorded since ... more » Wednesday, July 8
Nationwide offers 125% mortgages
by
Jet-to-Let Magazine
on Wed 08 Jul 2009 12:14 BST
Nationwide says 'negative equity' mortgage will only be available in special circumstances Mortgages allowing people to borrow up to 125% of a property's value are making a surprise comeback after Nationwide launched a deal aimed at homeowners trapped in negative equity who are keen to move house. Britain's biggest building ... more » Tuesday, July 7
Financing in housing market improving
by
Jet-to-Let Magazine
on Tue 07 Jul 2009 11:15 BST
LONDON (Reuters) - Lending activity has picked up in the country's troubled housing market, with more financing becoming available for higher loan-to-value transactions, Treasury minister Paul Myners said Tuesday. "There is an increase in the lending activity," Myners told parliament's Treasury Committee, citing data from the Bank of England. "There ... more » Monday, July 6
House price slide hits recovery hopes
by
Jet-to-Let Magazine
on Mon 06 Jul 2009 09:27 BST
European house prices fell more quickly in the first three months of this year than even in the fourth quarter of 2008 when global recession struck, a trend that looks set to dim the region’s hopes for economic recovery. more »Thursday, July 2
Tracker mortgages 'may become more costly'
by
Jet-to-Let Magazine
on Thu 02 Jul 2009 16:13 BST
Although they may be attractively priced currently, tracker mortgages could become more costly over coming months. This is according to moneysupermarket.com, which pointed out that the UK's base rate of interest is predicted to rise this year. It said that, while many trackers are now cheaper than their fixed-rate counterparts, ... more » Wednesday, July 1
Interim regime for property sale and rent back begins today in UK
by
Jet-to-Let Magazine
on Wed 01 Jul 2009 16:13 BST
A new interim regime for landlords that operate property sale and rent back businesses comes into force in the UK today. SRB landlords and companies have one month to submit an application to the Financial Services Authority for permission to continue their business activities as full regulation kicks in. Under ... more » Tuesday, June 30
House prices 'rose 0.9% in June'
by
Jet-to-Let Magazine
on Tue 30 Jun 2009 16:23 BST
UK house prices rose by 0.9% in June, according to the latest survey from the Nationwide building society. It said this was the third rise in the past four months, and shrank the annual rate of decline to just 9.3%, from 11.3% in May. The increase in prices during the ... more » Monday, June 29
Mortgage approvals still rising
by
Jet-to-Let Magazine
on Mon 29 Jun 2009 17:29 BST
The property market continued to pick up in May, according to figures from the Bank of England. The number of mortgages approved for house buying rose to 43,414, up from the figure of 43,191 the month before. It was the fourth month in a row that approvals have risen, suggesting ... more » Thursday, June 25
OECD says recession 'near bottom'
by
Jet-to-Let Magazine
on Thu 25 Jun 2009 10:20 BST
The Organisation for Economic Cooperation and Development says the world economy is near the bottom of the worst recession in post-war history. The body that represents the 30 most industrialised nations said that those economies would shrink 4.1% this year. But it adds that recovery is likely to be "weak ... more » Wednesday, June 24
House sales 'continuing to rise'
by
Jet-to-Let Magazine
on Wed 24 Jun 2009 17:30 BST
The number of homes sold in the UK has continued to rise, according to HM Revenue and Customs (HMRC). Some 62,000 residential properties costing more than £40,000 were sold in May, up 7% on the previous month. The figure was the highest since October but still well down on the ... more » Monday, June 22
Repossession risk 'overestimated'
by
Jet-to-Let Magazine
on Mon 22 Jun 2009 15:48 BST
The Council of Mortgage Lenders has cut its forecast for the number of homes expected to be repossessed in 2009. The lenders' group predicted that 65,000 homes would be repossessed this year, 10,000 fewer than the estimate it made in December. The figure would still mark a sharp rise from ... more » Friday, June 19
Mortgage lending falls back again
by
Jet-to-Let Magazine
on Fri 19 Jun 2009 17:27 BST
Mortgage lending fell back in May, according to the latest figures from the Council of Mortgage Lenders (CML). Gross lending totalled £10.3bn, which was 2% lower than in April and 58% lower than in May 2008. The CML said that while lending for home buyers had been rising recently, lending ... more » Thursday, June 18
Public borrowing at record levels
by
Jet-to-Let Magazine
on Thu 18 Jun 2009 17:12 BST
UK public sector borrowing was the highest on record in May, the Office for National Statistics said. Public sector net borrowing was £19.9bn in May, and has already reached £30bn in the first two months of the financial year. This is double the level of one year ago, and even ... more » Wednesday, June 17
US inflation lower than expected
by
Jet-to-Let Magazine
on Wed 17 Jun 2009 17:38 BST
US consumer prices rose less than had been expected in May, as the recession continued to keep inflation down. The Consumer Prices Index (CPI) from the Labor Department rose a seasonally adjusted 0.1% last month, well under the 0.3% rise that had been expected. Although petrol prices rose 9.6% in ... more » |
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