2012 Archive

Cheap mortgages help first-time buyer levels reach 5-year high

First-time buyers reached a five-year high in 2012, according to the Halifax

Cheaper mortgages have helped first-time buyer levels reach a five year high but they are still at barely half the level they were before in 2006 the credit crunch.

Southend property values rise fastest in 2012, says Halifax

Southend has seen the biggest rise in property prices in the UK in 2012

A new report from Halifax shows property values in Southend have risen at a faster pace than any other town in the UK in 2012 as the north-south divide increases.

Chelsea BS cut mortgage rates on two-year fixed rate deals

The Chelsea Building Society has cut rates on several of its two-year fixed rate mortgage deals and introduced cashback incentives for first-time buyers.

CML forecasts growing property market in 2013

The Council for Mortgage Lenders has published its review of 2012

The Council for Mortgage Lenders believes there are cautious grounds for optimism for the UK property market in 2013 after it beat the CML's predictions for 2012.

Bank of England says FLS won't have an impact until 2013

The Bank of England's Funding for Lending Scheme is being hampered by market conditions

The Bank of England says that because of the time lag in loans becoming effective the Funding for Lending Scheme won't have a major impact until 2013.

FLS bank lending reserved for low-risk mortgage borrowers

First time buyers are not benefiting from FLS, according to new research

New research from Moneyfacts suggests that the cheap funds accessed through the Bank of England's Funding for Lending Scheme is failing to reach borrowers with small deposits.

Rightmove reports record monthly fall in asking prices

Rightmove reports a record monthly drop in asking prices

The latest house price index from Rightmove reveals a record 3.3 per cent drop in asking prices in December as sellers try and finalise a deal this side of Christmas.

RICS: Rents to rise twice as fast as house prices in 2013

Rics sees rental cost increasing in 2013

The Royal Institute of Chartered Surveyors (Rics) predicts a 3% rise in the number of transactions in 2013 and that rents will go up by 4% and house prices by 2%.

CML reports rise in lending to first-time buyers

The CML reports a rise in lending to FTB's

The Council of Mortgage Lenders reports a rise in lending to first-time buyers and a small rise in other types of mortgage lending which remain well below historical levels.

RICS: House prices flat as sales edge upwards

Rics reports a rise in enquiries from house hunters

The Royal Institute of Chartered Surveyors reports that would be buyers are testing the water on potential new property purchases and that confidence is returning.

Google launches new mortgage price comparison site

Google has launched a mortgage price comparison service

Google has relaunched its mortgage price comparison site as it adds to its portfolio of products since its acquisition of BeatThatQuote in March 2011 for £37.7 million.

Halifax expects house prices to remain flat in 2013

Halifax says it expects house prices to remain stable in 2013

The latest Halifax house price index shows a one per cent rise in UK house prices in November after four consecutive falls and predicts that prices will remain stable in 2013.

Construction PMI dips to lowest level for almost four years

Activity in the construction sector fell in November

The latest purchasing managers' index for the construction sector shows a decline in confidence, job losses and a fall in new orders as the sector continues to struggle.

FLS data shows banks still reluctant to lend

The Bank of England's Funding for Lending Scheme is in its early stages

New data published by the Bank of England shows that in the first two months of the Funding for Lending Scheme UK banks have borrowed £4.4 billion and lent out £496 million.

Nationwide cuts mortgage rates for first-time buyers

Nationwide has announced further mortgage rate cuts

Nationwide has announced rate cuts of up to 0.70 per cent for first-time buyers and further cuts across its entire mortgage range for tracker and fixed rate deals.

NatWest and RBS pull out of interest-only mortgage market

RBS and NatWest have will stop offering interest-only mortgages

Two other major lenders, NatWest and RBS have pulled out of the interest-only mortgage market with experts predicting that they could become a niche product.

Yorkshire BS cut rates on all 85% LTV mortgages

The Yorkshire BS has cut rates by 0.20 per cent on all 85% LTV mortgages

The Yorkshire Building Society has cut rates on all mortgages in the 85 per cent loan-to-vale ratio by 0.20 per cent.

Coventry BS launch 4-year fix at 2.99%

Coventry BS has a range of new mortgages

The Coventry Building Society has launched a new four-year fixed rate mortgage at just 2.99 per cent for borrowers with a 35 per cent deposit and has a range of other deals.

HSBC offers cheapest ever two-year fixed rate mortgage deal

HSBC has launched its cheapest ever two-year fixed rate mortgage

HSBC is offering a two-year fixed rate mortgage deal at a rate of just 1.99 per cent for borrowers with a 40% deposit. The bank continues to offer a competitive five year fix too.

Bank of England reports increase in mortgage approvals

The Bank of England reports a rise in mortgage loans in October

The latest Bank of England lending to individuals data shows an increase in the number of loans for house purchases and remortgages but that consumers repaid debt in October.

Nationwide reports no change in UK house prices

Nationwide reports the UK property market is stable

The latest Nationwide house price index shows that there was no change in UK house prices in November and that there has been a decline of 1.2 per cent in the last year.

Fixed rates slashed in mortgage lending price war

There is a mortgage price war on fixed rate mortgages

This week saw a five-year fixed rate deal available from the Co-op at just 2.79 per cent with a fee under £1,000 as reduced wholesale rates allow lenders to offer cheap mortgages

Leeds BS cut rate on two-year fixed rate mortgage to 2.54%

Leeds BS has cut rates on its two-year fixed rate mortgage

The Leeds Building Society has cut the rate on its two-year fixed rate mortgage by 0.41 per cent to 2.54 per cent taking the product to the top of the best-buy tables.

Chelsea BS offer first-time buyers offset mortgage option

Chelsea BS has unveiled a new offset mortgage aimed at first-time buyers

The Chelsea Building Society has launched a new mortgage product aimed at first-time buyers allowing them a free offset option to use their saving to overpay on their mortgage.

Co-op unveils five-year fixed rate mortgage at just 2.79%

The Co-op has cut mortgage rates for all types of borrowers

The Co-operative Bank has cut mortgage rates and introduced the cheapest five-year fix on the market at just 2.79 per cent for borrowers with a 40 per cent deposit.

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