June 2012 Archive

Mortgage repayments outstrip borrowing for the first time

Brits opting for debt repayments over spending

Mortgage repayments have exceeded mortgage borrowing for the first time as households become more wary about the economy, according to new data.

Blow for first time buyers as banks prepare to tighten lending

First time buyers faced another setback today as a new report revealed lenders are set to toughen up on mortgage lending to borrowers with low deposits.

Barking and Dagenham tops repossession hotspot list

London local authority Barking and Dagenham has the highest repossession risk in England, new research by charity Shelter has revealed.

House prices down 0.6% in June, says Nationwide

The price of a typical UK house fell by 0.6 per cent in June to around £165,738, according to latest data from Nationwide.

King warns economic outlook has deteriorated in last six weeks

The Governor of the Bank of England, Sir Mervyn King issued a downbeat assessment of the UK economy today

Appearing at a Treasury Select Committee today, the Governor of the Bank of England, Sir Mervyn King warned that the UK economy will not fully recover until 2017.

Halifax to refund valuation costs if house purchase falls through

Halifax launches valuation costs refund deal

The Halifax has become the first high street lender to offer to refund valuation costs to homebuyers if their property purchase collapses.

House prices in boom locations soar by £110,000 in 10 years

Brighton house prices have leapt 206% in 10 years

Property prices in areas with the strongest economies have climbed by £110,000 in the past decade, new research indicates.

Cameron calls for housing benefit for under 25's to be cut

David Cameron has suggested that housing benefit could be cut for the under-25's

In an interview with the Mail On Sunday, the Prime Minister, David Cameron has said that housing benefit for under 25's could be cut.

Rents rise to £712 a month in May, reports LSL

LSL Property Services report a rise in rental costs for May

Average rental costs increased to £712 a month in May in the UK, with London seeing a larger increase with rents reaching a record high of £1,038 a month in the capital.

Leeds BS launches 10 year fixed rate mortgage at 4.58%

New 10 year fixed rate mortgages at the Leeds

Leeds Building Society has launched a 10 year fixed rate mortgage available up to 75 per cent loan to value at 4.58 per cent.

Mortgage lending up 24% in May, says CML

Gross mortgage lending leapt 24% during May

UK mortgage lending recovered in May, rising 24 per cent over the month, according to industry figures published today.

Bank reforms a ‘game changer’ for UK mortgage market

Will £80bn cash boost encourage lending?

Bank reform proposals unveiled last week could potentially be a game changer for the UK mortgage market, according to Ray Boulger of mortgage adviser John Charcol.

Base rate cut considered by MPC as King joins call for QE

Sir Mervyn King joined the call for more QE at the June meeting of the MPC

The Governor of the Bank of England, Sir Mervyn King voted for an extension of the asset purchase programme to the tune of £50 billion at the June meeting of the MPC.

More young Brits opting to buy a house with their friends

Friends are opting to buy property together

Tough mortgage lending criteria for first time buyers, coupled with a rise in the number of singles, is resulting in alternative ‘family’ units being created.

ONS house price data reveals London prices hide regional falls

The London factor is helping to skew nationwide house price data

Official data from the Office for National Statistics (ONS) reveals that house prices in London increased by 3.5 times more than the rest of the UK.

Buying beats renting by almost £200,000 over lifetime

Study suggests it could pay to own your home

Owning your home instead of renting accommodation could save you as much as £194,000 over a 50 year period, a new study suggests.

House asking prices reach record high in June

Property market 'ruled by style and location'

UK property asking prices have climbed to a new record high – but still lag behind their 2007 peak once inflation is factored in, latest figures show.

UK trade deficit widens as exports dip to both EU and non-EU

UK exports slumped in April, says the ONS

The likelihood of the UK's recession becoming deeper increased today after disappointing official trade and construction sector figures were released.

CML data shows 30% drop in mortgage lending in April

A fall in lending to FTB's marked April's mortgage data

The latest report from the Council of Mortgage Lenders reveals a 30 per cent fall in mortgage lending due to a slowdown in lending to first-time buyers after the stamp duty holiday ended.

Recession-hit Brits still long to be homeowners, study shows

Despite the fall-out from the credit crunch and a double-dip recession, most Brits still want to buy their own home, according to research.

RICS reports 40% fall in house sales since boom of 2007

RICS reports a fall in completed house sales

The Royal Institute of Chartered Surveyors (RICS) says UK house sales are 40 per cent down on the boom years partly due to the difficulty in accessing mortgage finance.

Leeds BS unveils new buy to let mortgage deals

Leeds launches latest landlord mortgage deals

Leeds Building Society has announced new fixed rate buy to let mortgages with a choice of fee-paying and fees-assisted versions.

‘Second steppers’ going back to the bank of mum and dad

One in six ‘second steppers’ – first home owners looking to move up the property ladder – is turning to their parents to help them bridge the price gap.

Homes in picturesque settings rise by £110,000 in past decade

House prices soar in England's prettiest locations

Homeowners in some of the most picturesque locations in England have seen their property value soar by more than £900 a month over the past 10 years.

Mortgage fees rising as lending rates fall

Take account of all the charges before choosing

Picking a mortgage based on the lowest headline interest rate can be tempting, but it may not be the best deal once the fees are factored in, research suggests.

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