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UK interest rates kept on hold at record low of 0.5%

Sat, 14 Jan 2012 23:59:59 -0000

UK interest rates kept on hold at record low of 0.5% UK interest rates have been held at their record low of 0.5% by the Bank of England's Monetary Policy Committee. Interest rates have been kept at 0.5% since March 2009. The Bank did not announce any increase ...

Top 10 places to buy abroad

Sat, 14 Jan 2012 23:59:59 -0000

Top 10 places to buy abroad The housing market may be slow at home, but for Britons looking for an overseas investment property, the message from the experts is simple: buy now. Research by Lloyds TSB International shows price falls of up to 25 per cent in Florida and even more in troubled Spai...

Unrealistic asking prices will hinder housing market in 2012

Wed, 11 Jan 2012 23:59:59 -0000

Unrealistic asking prices will hinder housing market in 2012 Rics report expects the housing market to be flat for the next 12 months, despite a rise in the number of new instructions More houses were put up for sale in December 2011, but "unrealistic" asking prices are expected to hinder transactions, according to the Royal Institution of Chartered ...

Mortgage rationing becomes worse, Bank of England warns

Wed, 11 Jan 2012 23:59:59 -0000

Mortgage rationing becomes worse, Bank of England warns Home buyers will find it even harder to obtain a mortgage in the coming months, the Bank of England says. Its quarterly survey of lending activity shows that lenders are going to be even fussier about prospective customers. "Lenders expected a tightening of credit scoring criteria for granting ne...

Overseas property purchases affected by poor exchange rates

Mon, 14 Nov 2011 23:59:59 -0000

Overseas property purchases affected by poor exchange rates People buying homes overseas could be losing thousands of pounds as a result of poor exchange rates, a new report shows. Independent analysis on the Europ...

Britain 'to become nation of renters'

Mon, 14 Nov 2011 23:59:59 -0000

Britain 'to become nation of renters' The UK's housing shortage and the problems around obtaining a mortgage mean that Britain is becoming a nation of renters, according to a new survey. More than half (54pc) of Britons questioned in a poll commissioned by Grainger, the UK's largest listed residential landlord, expect that in 15 years more people in the ...

Interest rates held despite UK growth fears

Mon, 14 Nov 2011 23:59:59 -0000

Interest rates held despite UK growth fears The Bank of England kept its powder dry despite the escalating eurozone crisis, leaving rates on hold at 0.5pc and deciding against another injection of cash into the economy. Economists said the Bank is likely to reveal next week that it expects inflation to drop below its target within ...

Mortgage approvals fall as banks favour richer borrowers

Mon, 14 Nov 2011 23:59:59 -0000

Mortgage approvals fall as banks favour richer borrowers The number of home loans approved last month fell with lower income buyers hit the hardest. Mortgage approvals fall as banks favour richer borrowers Home loan approvals fell for the second month in a row in October, as mortgage lenders favoured richer borrowers. Those who managed to save a ...

House prices drop 1.2% says the HalifaxHouse prices drop 1.2% says the Halifax

Thu, 15 Sep 2011 23:59:59 -0000

House prices drop 1.2% says the Halifax House prices dropped 1.2% last month, the Halifax said, ending three months of price rises. The average price of a house fell month-on-month to �161,743 in August, although the "more reliable" quarterly change showed a 1% rise. Martin Ellis, housing economist at Halif...

Mortgage lending picks up, but fewer first-time buyers

Thu, 15 Sep 2011 23:59:59 -0000

Mortgage lending picks up, but fewer first-time buyers Mortgage lending picked up in July, according to figures from the Council of Mortgage Lenders (CML). The overall value of mortgage lending increased to �7.3bn from �6.9bn in June. In volume terms 48,800 were signed, up from 37,800. The value of mortgages extended to first-time buyers a...

Bank of England renews calls for more quantitative easing

Thu, 15 Sep 2011 23:59:59 -0000

Bank of England renews calls for more quantitative easing Adam Posen, the Bank of England's leading "dove", has urged his colleagues on Threadneedle Street's monetary policy commitee to ignore rising inflation and back urgent moves to boost Britain's flagging economy. Warning that the Bank and its counterparts from the other G7 countries might have already wai...

House prices steady in July, says Halifax

Wed, 17 Aug 2011 23:59:59 -0000

House prices steady in July, says Halifax Further signs of a steadying in the UK house market have emerged after figures from the Halifax showed prices rose by 0.3pc in July. The bank in its latest house price index said that prices were up on a quarter-to-quarter basis for the first time in 14 months, following a 0.5pc rise in the three months to July....

Mortgage approvals pick up

Wed, 17 Aug 2011 23:59:59 -0000

Mortgage approvals pick up Mortgage approvals hit a 13-month high last month, the Bank of England reported, but economists cautioned that they remained low by long-term standards. The number of mortgages lenders approved for house purchase rose 4pc to 48,421 in June, the Bank said, from 46,418 in May. Approvals, which offer a clue to demand and so to future ...

UK interest rates remain on hold at 0.5%

Wed, 17 Aug 2011 23:59:59 -0000

UK interest rates remain on hold at 0.5% UK interest rates have now been held at 0.5% for more than two years UK interest rates have been kept at a record low of 0.5% by the Bank of England's Monetary Policy Committee (MPC). Economists had expected interest rates would remain unchanged due to the subdued economy. GDP figures for the second quarter sh...

House prices surge in wealthy areas

Sat, 25 Jun 2011 22:59:59 -0000

House prices surge in wealthy areas The value of homes in the most economically prosperous locations of the UK surged ahead of properties in the country's poorest areas, a survey has shown. Homeowners in the 10 areas with highest growth rates in economic activity per person including Edinburgh, Cornwall and the Isles of Scilly and Cambridgeshire&nbs...

Bank ponders new help for UK's weak economy

Sat, 25 Jun 2011 22:59:59 -0000

Bank ponders new help for UK's weak economy Interest rates are unlikely to rise before early next year, City analysts' reading of the latest minutes of the Monetary Policy Committee suggest "and there is an increasing possibility that another round of quantitative easing could be on the way if the economy remains weak. Members of the MP...

Rise in mortgage lending 'fuelled by remortgaging'

Sat, 25 Jun 2011 22:59:59 -0000

Rise in mortgage lending 'fuelled by remortgaging' Figures from the Council of Mortgage Lenders show 12% increase on previous month, but this shouldn't be seen as a sign of strength in the market Gross mortgage lending was up �1.2bn in May, a 12% increase on the previous month and 1% higher than May 2010, according to figures published by the Council of Mortgage Lenders (CML). ...

Property buyers keen to invest abroad

Sat, 25 Jun 2011 22:59:59 -0000

Property buyers keen to invest abroad New research out this week from the Worldwide Property Group suggests that the overseas housing market is looking increasingly attractive despite the fact that people are still undecided regarding the future direction of house prices." According to its latest confidence survey, "77% of respondents feel that now is a good time...

House prices fall at fastest rate for 19 months

Tue, 7 Jun 2011 22:59:59 -0000

House prices fall at fastest rate for 19 months Homes lost 4.2% of their value during the past year, based on average prices during the three months to the end of May House prices fell at their fastest annual rate for 19 months during May as buyers continued to stay away from the market, figures showed today. Homes lost 4.2% of their value during the past year, based on average...

Interest rates set to stay on hold

Tue, 7 Jun 2011 22:59:59 -0000

Interest rates set to stay on holdThe Bank of England will defy inflation and hold interest rates at a record low this week, amid signs that Britain's economic recovery is faltering. The latest estimate of gross domestic product - showing a tepid 0.5% rise between January and March - revealed a slowdown in consumer spending and business investment, which analysts said raised concerns o...

Mortgage approvals hit new low, Bank of England reports

Tue, 7 Jun 2011 22:59:59 -0000

Mortgage approvals hit new low, Bank of England reports The number of mortgages approved for house purchases hit a new low in April, Bank of England figures show. At just 45,166, the number of new approvals was the lowest April figure since the Bank's records began in 1992. Analysts said the data may have been affected by the number of public holidays in April. However, the figu...

Bleak surveys pose interest rate rise dilemma for Bank of England

Sun, 17 Apr 2011 22:59:59 -0000

Bleak surveys pose interest rate rise dilemma for Bank of England Number of profit warnings in first quarter up 50% Confidence lower than in recession, say finance chiefs Britain's stagnating economy faces months of gloom after a series of business surveys showed profits down and confidence among industry bosses waning. A report by the accou...

Housing recovery still some way off, say surveyors

Sun, 17 Apr 2011 22:59:59 -0000

Housing recovery still some way off, say surveyors House prices across the UK remained flat during March,but are expected to fall in the next three months, according to the Royal Institution of Chartered Surveyors (Rics). For the second month in a row London was the only area in the country to report a rise in prices. Demand for property meanwhile fell last mo...

Mortgage applications up 11.6 per cent

Sun, 17 Apr 2011 22:59:59 -0000

Mortgage applications up 11.6 per cent Mortgage applications were up 11.6% in March compared to February and 20% higher than applications in March 2010. This good news comes from the latest National Mortgage Index compiled by Mortgage Advice Bureau and Coreco Group. The majority of new borrowers are overwhelmingly choosing fixed mortgages, with 80% of all mortgage applications i...

Mediterranean countries see rise in interest from overseas buyers

Sun, 17 Apr 2011 22:59:59 -0000

Mediterranean countries see rise in interest from overseas buyers Overseas property buyers based in the UK are currently showing more interest in southern Mediterranean European countries with a rise in searches in Spain, Portugal Cyprus and Greece. The latest report from Rightmove Overseas shows that overall searches are up by 1.2% this month. The province of...

Top locations for property investment in 2011

Sun, 13 Mar 2011 23:59:59 -0000

Top locations for property investment in 2011 United Kingdom Familiarity with the domestic market and buying procedures should make many, especially first-time buyers, confident about investing at home in 2011, said Steve Worboys, MD of Experience International. And rightly so, property prices have indeed fallen quite considerably in recent times but the o...

House prices head for 6% fall

Sun, 13 Mar 2011 23:59:59 -0000

House prices head for 6% fall House prices are heading for a 6 per cent fall in real terms this year, according to the latest data from the country's biggest mortgage lender. The Halifax House Price Index, published, showed a weakening in property values of 0.9 per cent in February, wiping out the 0.8 per cent gain in January. Earlier th...

Bank holds record low interest rate

Sun, 13 Mar 2011 23:59:59 -0000

Bank holds record low interest rateThe Bank of England refused to bow to pressure over surging inflation today as it held interest rates at their historic low of 0.5%. The debate among the nine-strong Monetary Policy Committee (MPC) was likely to have been heated as new pressures on inflation emerged and recent voting evidence showed an increase in the num...

Sudden slump in mortgage lending, lenders reveal

Sun, 13 Mar 2011 23:59:59 -0000

Sudden slump in mortgage lending, lenders reveal The number of new mortgages lent to house buyers slumped by 29% in January compared to December, the Council of Mortgage Lenders (CML) said. At just 28,500 the figure was also 12% lower than in January last year. The CML said the fall was larger than expected at the time of year and du...

UK house prices rose 0.8% in January, Halifax says

Sun, 13 Feb 2011 23:59:59 -0000

UK house prices rose 0.8% in January, Halifax says UK house prices rose by 0.8% in January compared wit...

UK interest rates held at 0.5% by Bank of England

Sun, 13 Feb 2011 23:59:59 -0000

UK interest rates held at 0.5% by Bank of England The Bank of England's Monetary Policy Committee (MPC) has kept UK interest rates on hold at 0.5%, and unveiled no new quantitative easing (QE) measures. Both decisions were expected, but the level of division will not be clear until the minutes of the meeting are released. At the MPC's January meeting, there was a three-way s...

Mortgage borrowing rose slightly in 2010, lenders say

Sun, 13 Feb 2011 23:59:59 -0000

Mortgage borrowing rose slightly in 2010, lenders say Mortgage lending to house buyers rose slightly in 2010, according to the Council of Mortgage Lenders (CML). There were 529,300 new loans made to house buyers last year, up 3% from 2009, with their value rising 11% to �77.1bn. The CML said lending was now "stable but subdued", although it was still at "historically low...

House prices suffer November fall

Fri, 10 Dec 2010 23:59:59 -0000

House prices suffer November fall House prices fell by 0.1% in November but there are hopes the market may be stabilising, Halifax has said. Property prices in the three months to November were 0.7% lower than a year earlier, which was their first annual decline since November 2009. However, Halifax said there were signs homeowners were becoming more reluctant to put p...

UK interest rates held at 0.5% by Bank of England

Fri, 10 Dec 2010 23:59:59 -0000

UK interest rates held at 0.5% by Bank of England The Bank of England's Monetary Policy Committee (MPC) has kept UK interest rates on hold at 0.5%, and unveiled no new quantitative easing (QE) measures. The Bank of England's Monetary Policy Committee (MPC) has kept UK interest rates on hold at 0.5%, and unveiled no new quantitative easing (QE) measures. Both decisions were expected...

House prices drop amid mortgage deep freeze

Fri, 10 Dec 2010 23:59:59 -0000

House prices drop amid mortgage 'deep freeze' House prices have dropped �5,000 since the beginning of the year amid the mortgage market's own deep freeze, it has been revealed. The typical value of a home in Britain has dropped from �169,500 at the beginning of this year to �164,700 last month, according to the latest house price index fro...

The World Interest Rate

Thu, 18 Nov 2010 23:59:59 -0000

World Interest Rates TableThe World Interest Rate Table covers the current interest rates of 23 different countries including previous rates and the latest dates when they were changed by Central Banks. ...

House prices dropped 0.8% in September

Thu, 18 Nov 2010 23:59:59 -0000

House prices dropped 0.8% in September House prices fell by 0.8% during September as the property market continued to slow down, figures showed today. The drop, which wiped out the 0.7% increase seen during the previous month, left the average UK home costing �211,815, according to Communities and Local Government. The quarter-on-quarter growth rate, generally seen as a smoot...

Mortgage lending still subdued, lenders say

Thu, 18 Nov 2010 23:59:59 -0000

Mortgage lending still subdued, lenders say Mortgage lending continues to be subdued, the Council of Mortgage Lenders (CML) says. Total mortgage lending in October was �12.4bn, the same as in September but the lowest October figure since 2000. The continued rationing of lending has been the main factor behind the recent fall in house prices. The CML said lending in the c...

No relief for house prices next year, Bank warns

Sat, 23 Oct 2010 22:59:59 -0000

No relief for house prices next year, Bank warnsHouse prices will fall next year, the Bank of England has warned, as home loans become harder to secure amid government spending cuts.The warning will add to growing fears about fragile house prices after...

Interest-rate and stimulus decision split MPC vote

Sat, 23 Oct 2010 22:59:59 -0000

Interest-rate and stimulus decision split MPC vote The Bank of England's Adam Posen voted for another 50bn of quantitative easing, while Andrew Sentance again called for a 0.25 per cent interest rate riseThe Bank of England's Monetary Policy Committee (MPC) was split three ways over whether to raise interest rates or to begin a second ...

Mortgage lending in fresh decline, lenders say

Sat, 23 Oct 2010 22:59:59 -0000

Mortgage lending in fresh decline, lenders say This year's revival in lending appears to have stopped, the CML figures suggest UK mortgage lending remained subdued last month, figures from the Council of Mortgage Lenders (CML) suggest. Total lending was 12bn in September, the lowest September total since 2000. The CML's figures, which cover borrowing for house purchases ...

More Britons investing in property overseas

Sat, 23 Oct 2010 22:59:59 -0000

More Britons investing in property overseas An increasing number of retired British people are investing in property overseas, according to new research. The British are the most enthusiastic overseas property investors in Europe, according to new research The research, conducted by FindaProperty.com, shows that the British are the most enthusiastic property investors ...

House prices: Surveyors expect property values to fall

Wed, 15 Sep 2010 22:59:59 -0000

House prices: Surveyors expect property values to fall A bigger proportion of surveyors are expecting house prices to fall in the coming months than at any time since March last year. Some 38% more of those asked, in the survey by the Royal Institution of Chartered Surveyors (Rics), expected prices to fall rather than rise in the next three months. They said that property values f...

UK interest rates remain at record low of 0.5%

Wed, 15 Sep 2010 22:59:59 -0000

House prices: Surveyors expect property values to fall The Bank of England has kept UK interest rates on hold at a record low of 0.5% for the 18th consecutive month. The Monetary Policy Committee's (MPC) decision had been expected, but calls have been growing for an increase in rates to curb inflation. CPI inflation was 3.1% in July, above the Bank of En...

Mortgage lending remains tight for first-time buyers

Wed, 15 Sep 2010 22:59:59 -0000

Mortgage lending 'remains tight' for first-time buyers First-time buyers' share of the mortgage market fell to its lowest level for three years in July, according to new figures. The proportion of new mortgages taken by first-time buyers fell to 34% of all loans granted to home buyers, the Council of Mortgage Lenders (CML) said. Although they had to put down ...

UK residents show increased interest in overseas property outside euro zone

Wed, 15 Sep 2010 22:59:59 -0000

UK residents show increased interest in overseas property outside euro zone There is increasing interest from UK residents in overseas property outside of the eurozone where prices are often cheaper than in countries which have adopted the euro. The report shows that the company's sales have increased compared to...

House prices rise 0.1 percent in June

Sat, 3 Jul 2010 22:59:59 -0000

House prices rise 0.1 percent in June House prices rose just 0.1 percent on the month in June, down from a 0.5 percent rise in May, the Nationwide building society said Wednesday, in a further sign that the housing market recovery is cooling. House price increases have dipped from stronger rises of around one percent in March and April, Nationwide said, and the annual rat...

Interest rates 'won't go up until mid-2011'

Sat, 3 Jul 2010 22:59:59 -0000

Interest rates 'won't go up until mid-2011' Expectations for the first rate hike from the Bank of England have been pushed back further into next year, according to a new survey of experts. As the Bank of England's monetary policy committee prepares for its July meeting next week, a new poll from Reuters shows that econ...

Warning of second credit crunch as Bank of England predict loans will plunge over next three months

Sat, 3 Jul 2010 22:59:59 -0000

Warning of second credit crunch as Bank of England predict loans will plunge over next three months Britain could be on the brink of another mortgage drought, the Bank of England warned yesterday. Lenders expect the number of loans to plunge over the next three months, research published by the Bank showed, as fears of a second credit crunch grow. The claim will alarm m...

Most First-Time Buyers 'Giving Up' On UK

Sat, 3 Jul 2010 22:59:59 -0000

Most First-Time Buyers 'Giving Up' On UK Buying a house in UK seems an unlikely reality for most potential first-time buyers, according to a new survey. Almost three-quarters (70%) of people who do not own property say they have abandoned plans to buy here because of sky-high prices. In addition, uncertainty in the housing market has led to a cautious mood, causing a t...

House prices up 6.6% in past year, the Halifax says

Sat, 8 May 2010 22:59:59 -0000

House prices up 6.6% in past year, the Halifax saysHouse prices have gone up by 6.6% in the past year, according to the latest Halifax house ...

Interest rates may rise before the end of the year

Sat, 8 May 2010 22:59:59 -0000

Interest rates may rise before the end of the yearThe Bank of England may raise interest rates sooner than expected after the cost of goods leaving factories surged to an 18-month high last month. As the Bank of England's rate-setting committee started its two-day rate meeting yesterday delayed because of th...

Mortgage rates to climb higher as gilt yields surge

Sat, 8 May 2010 22:59:59 -0000

Mortgage rates to climb higher as gilt yields surge Property experts today warned that the hung parliament could trigger rising mortgage costs, claiming indecision at Westminster could add �52 a month to the average home loan. Long-term lenders link mortgages to gilt yields, and today alone the rate of return demanded from 10-yea...

House market stalls, fuels double-dip

Mon, 15 Mar 2010 23:59:59 -0000

House market stalls, fuels double-dip Fears are growing that the housing market could be facing a double-dip recession, as data released today shows house prices in March have risen by the smallest margin on record. The near standstill in prices has fuelled concerns that a decline in the housing market could lead to a s...

Mortgage deals at 6-year low

Mon, 15 Mar 2010 23:59:59 -0000

Mortgage deals at 6-year low Figures reveal that fixed-rate home loans have fallen to their cheapest level for six years as savers are hit by falling returns Homeowners who are able to secure a new mortgage are benefitting from the lowest interest rates in more than six years, Bank of England figures show. The average cost of a two-year fixed-rate deal has...

Bank rates steady to mark year at record low

Mon, 15 Mar 2010 23:59:59 -0000

Bank rates steady to mark year at record lowThe Bank of England's Monetary Policy Committee left interest rates unchanged at 0.5 per cent and also held back from any increases to its asset purchase programme.The decision means that the rate, by the time of the Bank's next monthly meeting, will have remained at 0.5 per cent for 13 months. Today ma...

Buying Overseas

Mon, 15 Feb 2010 23:59:59 -0000

Buying Overseas The Association of International Property Professionals reveals how to avoid pitfalls when buying property abroad. Non-profit organisation The Association of International Property Professionals, aims to improve standards of professionalism in the international property market. If you're thinking of buying pro...

Interest rates and quantitative easing on hold

Tue, 2 Feb 2010 23:59:59 -0000

Interest rates and quantitative easing on hold Thread needle Street's nine-strong monetary policy committee leaves bank rate at 0.5% The Bank of England adopted a "wait-and-see" approach to the economy today when it pegged interest rates at record low levels and left its �200bn money-creation programme unchanged. In a widely anticipated move, Thread need...

New rules on mortgage arrears proposed by FSA

Tue, 2 Feb 2010 23:59:59 -0000

New rules on mortgage arrears proposed by FSANew rules to protect mortgage holders who are in arrears have been proposed by the Financial Services Authority. The FSA says it wants to ensure that those borrowers are treated fairly, especially ones who have borrowed from specialist lenders. It wants to ensure that repossession is a last resort and that borrowers i...

Property sales hit two-year high

Tue, 2 Feb 2010 23:59:59 -0000

Property sales hit two-year high Further evidence of the recovery in the UK housing market has come from figures showing completed residential property sales hit a two-year high in December. Provisional figures from HM Revenue and Customs (HMRC) show 104,000 deals involving properties priced above �40,000 were completed in December. It wa...

Interest rates rise on the horizon as MPC leaves QE unchanged

Wed, 30 Dec 2009 23:59:59 -0000

Interest rates rise on the horizon as MPC leaves QE unchanged The prospect of interest rate rises and an unwinding of the country's �200bn "money printing" programme moved a step closer after policymakers at the Bank of England voted unanimously to leave both unchanged this month. Minutes from the Monetary Policy Committee's December meeting show that...

UK homeowners pay down mortgage debt for sixth quarter

Wed, 30 Dec 2009 23:59:59 -0000

UK homeowners pay down mortgage debt for sixth quarterUK homeowners reduced their outstanding mortgage debt for a sixth quarter between July and September, paying down �4.9bn. Bank of England figures on Tuesday showed homeowners injected the equivalent of 2pc of post-tax income into their homes in the third quarter. This is a far cry from the final qua...

House price rises may stall next year, says MPC's Kate Barker

Wed, 30 Dec 2009 23:59:59 -0000

House price rises may stall next year, says MPC's Kate Barker The rebound in house prices this year is unlikely to be sustained in 2010, one of Britain's most senior policymakers has warned "I would be pretty surprised if we saw the strength of house prices sustained into next year," said Kate Barker, an external member of the Bank of England's Monetary Policy Committee and former h...

Top 10 Overseas Property Destinations in the Sun

Wed, 30 Dec 2009 23:59:59 -0000

Top 10 Overseas Property Destinations in the SunIntroduction It says something for the Great British summer when the past two years have been marked by flooding and torrential rain in August. In the past couple of weeks there have been incidents of a whole month of rain falling in one day, roads being closed, trains derailed by landslides a...

When will interest rates rise?

Mon, 30 Nov 2009 23:59:59 -0000

When will interest rates rise? Latest predictions: Rates were left unchanged again at 0.50% in November, the eighth month in a row. So when will rates be raised again? The average forecast of economists polled by Reuters in October was for the MPC to hold the bank rate at 0.5% until at least July 2010. Rates were then seen rising to 0.75% by September and 1.0% by the end of of 2010....

New mortgage lending still nudging ahead

Mon, 30 Nov 2009 23:59:59 -0000

New mortgage lending still nudging ahead Figures from the Bank of England show the value of mortgages approved for house purchases rising for the 11th consecutive month in October, to �8 billion. The total is up from �7.6 billion a month earlier and compares with a previous six month average of �6.7 billion. Volumes increased to 57,345, up from 56,205 in September and 18% higher than a year...

House prices still increasing, Land Registry says

Mon, 30 Nov 2009 23:59:59 -0000

House prices still increasing, Land Registry says House prices in England and Wales continued rising in October, climbing by 0.6% according to the latest survey from the Land Registry. It was the fifth month in a row that prices had risen, the Land Registry said. That put the average house price at �159,546, although that was still 3.4% lower than a year ago. The biggest month...

Top 10 Overseas Property Investments In 2010

Mon, 30 Nov 2009 23:59:59 -0000

Top 10 Overseas Property Investments In 2010 1. Brazil The Brazilian property market has got a lot going for it. The country is attracting a lot of inward investment, has one of the world's fastest growing economies, a rapidly emerging mortgage market, a general shortage of quality homes, and has been selected to host the 2014 football World Cup and 2016 Olympic Games. This will lead to the con...

House prices rise again

Sat, 14 Nov 2009 23:59:59 -0000

House prices rise again The average UK house price rose by 0.7% in October, reducing the annual drop in prices to 2.4%. According to the Financial Times House Price Index (FTHPI) compiled by Acadametrics, there were 166,319 housing transactions recorded by the Land Registry for the third quarter of 2009, a 12.9% increase on the third quarter of 2008. Acadametrics chairman Dr Peter W...

Bank of England extends quantitative easing by £25bn – but is it enough?

Sat, 14 Nov 2009 23:59:59 -0000

Bank of England extends quantitative easing by �25bn - but is it enough? Mervyn King resists call to pump �50bn into economy to reverse six quarters of falling output - and holds rates at 0.5% The Bank of England has held interest rates at a historic low. The Bank of England came under fire from the City and business after it slowed the rate of electronic money growth to bo...

UK mortgage rates moving down

Sat, 14 Nov 2009 23:59:59 -0000

UK mortgage rates moving down Despite the fact that the Bank of England's monetary policy committee decided to leave UK base rates unchanged, we have seen a number of UK mortgage providers reduce their rates. Indeed we saw Nationwide reduce its fixed rate by 0.31% and tracker rate by 0.2%, Northern Rock reduce its tracker mortgage by 0.5% and its fixed rate by 0....

Is the rise in mortgage lending a positive sign?

Mon, 26 Oct 2009 23:59:59 -0000

Is the rise in mortgage lending a positive sign? Reports that mortgage lending increased during September are a "very positive sign" for the UK housing market, an industry expert has claimed. Stuart Law, chief executive of property investment firm Assetz, made the remarks after the Council of Mortgage Lenders (CML) reported a 2% rise in mortgage lending during September. Law said he is...

The decision by the Bank of England on interest rates and quantitative easing was broadly in line with City expectations.

Wed, 21 Oct 2009 23:59:59 -0000

The decision by the Bank of England on interest rates and quantitative easing was broadly in line with City expectations. The pound rose to a one-month high against the dollar today after it was revealed that the Bank of England's monetary policy committee had voted to keep its money-printing programme on hold. The policymakers voted unanimously earlier this month to leave interest ra...

House prices 'have further 17pc to fall'

Wed, 21 Oct 2009 22:59:59 -0000

House prices 'have further 17pc to fall' The recent rises in house prices will prove to be a false dawn because of the broader problems facing the British economy, Fitch Ratings said yesterday. The ratings agency predicted that house prices in Britain would fall by around 30pc in total from the October 2007 peak, indicating that they have a further 17pc left to fall. T...

Traditional hot spots top overseas property investment list

Wed, 21 Oct 2009 22:59:59 -0000

Traditional hot spots top overseas property investment list British buyers are sticking to the more traditional overseas locations in the current economic climate, especially those with history of providing good rental returns claims Conti, the UK based overseas mortgage specialist. According to the company's latest 'hot spots' report, France is in top spot by accounting for 31 percent of enquir...

House sales 'stalled in August'

Tue, 22 Sep 2009 22:59:59 -0000

House sales 'stalled in August' UK house sales fell in August from July, the first drop this year, according to HM Revenue & Customs. Figures from HMRC show that 83,000 homes were sold last month, down from 87,000 in July. House sales had been rising steadily this year, with the property market reviving from the sudden slump triggered by the credit cru...

Euro property boost tip for Sterling

Tue, 22 Sep 2009 22:59:59 -0000

Euro property boost tip for Sterling Sterling is set to rise in value against the euro as the government starts to tackle public sector debt, it has been predicted. City analyst Duncan Higgins of currency broker Caxton FX said that the pound will benefit from reductions in ...

First-time buyers foiled as mortgages disappear

Tue, 22 Sep 2009 22:59:59 -0000

First-time buyers foiled as mortgages disappear Number of mortgages available at 90% loan-to-value have plummeted by 75% over the past 12 months, figures show First-time buyers with a 10% deposit are struggling for choice. Photograph: Rex/E M Welch The problems faced by first-time buyers were highlighted today as research showed a 75% fall in the number of loans available ove...

Interest rates: News and predictions

Tue, 22 Sep 2009 22:59:59 -0000

Interest rates: News and predictions Interest rates have a direct impact on everyone's finances. We round up expert views on where rates are headed, followed by the latest news, analysis and advice on the site. Latest predictions: Rates were left unchanged again at 0.50% in September, the sixth month in a row, and the overwhelming expectation is for 'hold' again at the November ann...

Bank of England holds interest rate at 0.5%

Sun, 13 Sep 2009 22:59:59 -0000

Bank of England holds interest rate at 0.5% The Bank of England has opted to keep the Base Rate on hold for the sixth straight month, amid signs of increased confidence in the economy. The Monetary Policy Committees (MPC) decision to freeze the Bank Base Rate at 0.5% continues the recent stability in rates, after six cuts took it from 5% last October to its current record low. Simon Gammon, h...

Banks triple profit margin on mortgages, despite low interest rates

Sat, 12 Sep 2009 22:59:59 -0000

Banks triple profit margin on mortgages, despite low interest rates High-street banks and building societies have almost tripled their profit margin on five-years fixed-rate mortgages over the past year, denying consumers the benefit of the lowest interest rates in history. Homeowners are now being offered less competitive mortgages than at the height of the global credit crisis despit...

House prices rise again, says Halifax

Thu, 10 Sep 2009 22:59:59 -0000

House prices rise again, says Halifax Prices rose by 0.8% in August but remain 10.1% down on the same month last year, says Halifax House prices rose for a second consecutive month in August as demand for homes continued to grow at a faster rate than availability, mortgage lender Halifax said today. Figures from the bank showed a 0.8% rise in prices over the month, while in the three months to ...

A place in the sun

Sun, 6 Sep 2009 22:59:59 -0000

A place in the sun Continental house prices are falling and the pound is stronger. Perhaps the dream holiday home is within our grasp // //]]> The dream of owning a holiday home abroad is a difficult one to shake. British buyers have helped fuel a global property boom from Tuscany and Tangier to Burgundy and Bulgaria which has, of late, come to a...

Gross Mortgage Lending up 26% in July

Mon, 24 Aug 2009 22:59:59 -0000

Gross mortgage lending up 26% in July Gross mortgage lending totalled an estimated �16bn in July, a 26% increase from �12.7bn in June but down 36% from �24.9bn in July 2008, according to the Council of Mortgage Lenders (CML). This is further evidence of a modest improvement in the market over the summer after an exceptionally weak winter. However, activity is still subdued on any historic co...

House prices are now rising

Sun, 23 Aug 2009 22:59:59 -0000

House prices rising, says Halifax House prices are now rising, according to the latest survey from the Halifax mortgage lender. The cost of the average house went up by 1.1% in July to �159,623. Prices in the three months to July were 0.8% higher than in the previous three months, the first increase in the underlying trend since October 2007. Housebuilder Taylor Wimpe...

Latest Predictions for Mortgage Interest Rates

Sun, 23 Aug 2009 22:59:59 -0000

Latest Predictions for Mortgage Interest Rates The Bank of England has been stuck in a dilemna between the high inflation rates and the slowing economy. However, recently, the economic slowdown has accelerated. Given ongoing problems in the credit market, it makes it more likely interest rates will fall. Interest rates could well fall by 1% in the next 12 months. Forecast for Inflation Inflat...

Time to Bag a Spanish Property Bargain?

Sun, 23 Aug 2009 22:59:59 -0000

Time to Bag a Spanish Property Bargain? Nowhere in Europe has more bargain-basement holiday homes. Yet in spite of falls of between 30% and 50% in some areas, many Britons appear to be waiting to see if prices fall further before the pain in Spain ends. Though some estate agents and desperate developers claim the recession is over and prices are rising, most market watchers say t...

Drop in Spanish property prices and revival of pound adds up to a tempting offer for investors

Thu, 16 Jul 2009 22:59:59 -0000

Drop in Spanish property prices and revival of pound adds up to a tempting offer for investors Overseas investors are taking advantage of a situation in Spain which has led to a 38 percent discount in property prices says one of the countrys specialist agents. Average property prices are down by 20 percent on the western Costa de la Luz. This coupled with the pound making a...

Mortgage rate rises defy calls for fairer lending

Thu, 16 Jul 2009 22:59:59 -0000

Mortgage rate rises defy calls for fairer lending Banks are refusing to cut mortgage costs for borrowers, and some are still pushing rates up, in spite of sharp falls in their own funding costs in recent weeks. Swap rates, which determine the price of fixed-rate lending, jumped at the beginning of June, triggering an immediate ripple of price increases on mortgage deals. These underlyin...

U.K. Housing Market Turns Up

Wed, 15 Jul 2009 22:59:59 -0000

U.K. Housing Market Turns Up LONDON -- The U.K. housing market shows signs of improvement and developers are looking to acquire land again, but economists say a sustained housing recovery remains far off. Home prices fell for six quarters beginning in February 2007 to about �158,000 ($256,500), down from nearly �200,000 at the peak, according to Halifax Bank. But prices have risen 1.9% sinc...

Ultra-low interest rates here to stay after inflation falls below government target

Tue, 14 Jul 2009 22:59:59 -0000

Ultra-low interest rates here to stay after inflation falls below government target Cheaper food and soft drinks helped push the annual rise in the cost of living down to 1.8% from 2.2%, according to the Office for National Statistics The City was braced tonight for a prolonged period of ultra-low interst rates after a combination of a slowing economy and cheaper food prices dragged Britain'sinf...

Bank of England voted 9-0 to keep interest rates at record low

Wed, 17 Jun 2009 22:59:59 -0000

Bank of England voted 9-0 to keep interest rates at record lowNo arguments were advanced for either reducing or increasing the process of quantitative easing Bank Of England policy makers voted unanimously this month to keep interest rates at a record low of 0.5%. Minutes of the 3-4 June meeting showed that the Bank's monetary policy committee agreed that the medium-term outlook for the economy ...

Investors Looking at Overseas Properties, Prompted by Low Prices, Bubbly Domestic Market

Wed, 17 Jun 2009 22:59:59 -0000

Investors Looking at Overseas Properties, Prompted by Low Prices, Bubbly Domestic Market A frothy market in Chinamakesboth developers and investorsinterested in real estate nervous. But with overseas property markets often quite undervalued, Chinese investors are heading offshore to take advantage of fire sale prices. The China Investment Corporation (CIC), a sovereign wealth fund, has announce...

UK house price 'gap' smaller, says survey

Tue, 16 Jun 2009 22:59:59 -0000

UK house price gap smaller, says survey The gap between the asking and selling price for homes has begun to narrow according to most estate agents, reinforcing suggestions that the slump in prices may be slowing. Almost 60 per cent of surveyors reported that the gap had narrowed in the past three months, said the Royal Institution of Chartered Surveyors, noting that sellers still had to factor ...

The best fixed rate mortgage deals

Mon, 15 Jun 2009 22:59:59 -0000

The best fixed rate mortgage deals The cost of fixed-rate mortgages is already beginning to rise, and experts are predicting that it will go higher still in the coming months. This is bad news for consumers because, according to new data from the Council of Mortgage Lenders (CML), 69 per cent of mortgages taken out in April were fixed-rate deals the highest share since June 2008 at...

Rate-setter warns of 'false dawn'

Mon, 1 Jun 2009 22:59:59 -0000

The Bank of England official who warned of recession has said that the worst of the downturn is not over and signs of improvement may be "false dawns". David Blanchflower was a lone voice on the Bank's Monetary Policy Committee (MPC) calling for interest rate cuts as he accurately predicted the recession. Speaking at the end of his stint on the MPC, he said signs of green shoots in the economy...

House Prices Level After 20 Months Of Falls

Mon, 1 Jun 2009 22:59:59 -0000

House Prices Level After 20 Months Of Falls House prices were unchanged in May for the first time in 20 months, further supporting claims that the housing market is beginning to stabilise. Over 90% of asking prices were achieved by sellers in May Housing market analysis group Hometrack said the average cost of a home in England and Wales stayed the same from April to May at �155,600. ...

Now is the time to bag a bargain abroad

Sun, 31 May 2009 22:59:59 -0000

Now is the time to bag a bargain abroad Buying a property abroad can offer the opportunity of an enhanced lifestyle for you and your family, an appealing prospect in the current climate. Following a year or two of caution, UK investors are now being tempted back into the overseas property market. Following a downturn in people buying abroad, developers in places such as North America, Fr...

Sunny side of the street

Fri, 29 May 2009 22:59:59 -0000

Sunny side of the street The new Nationwide house price survey has revealed further signs of recovery in the UK housing market, with news that property prices rose by 1.2 per cent this month, the second rise in three months... Buyers continued to return to the market in May as house prices rose for the second time in three months. TheNationwide Building Society research showed that th...

UK House Prices Bottom or Temporary Summer Bounce?

Thu, 14 May 2009 22:59:59 -0000

UK House Prices Bottom or Temporary Summer Bounce? Therefore the UK housing market is definitely seeing liquid buyers return to the market which 'should' be reflected in rising house prices during the summer months that undoubtedly will increasingly be taken by the mainstream press to conclude that the house prices have bottomed. However the flaw in the analysis for those that will jump ...