Falling house prices could mean that as many as 1.6 million homeowners will be in negative equity within the next few months, according to mortgage administrators Homeloan Management Limited (HML). Currently more than 800,000 home owners – 7.3 per cent of all households with a home loan – have a mortgage that is bigger than [...]
Continue reading " Negative Equity to Hit 1 in 7 Homeowners! "
Billionaires’ homes in London now change hands for an average of more than £3,000 per square foot and the capital has the fourth most expensive house prices in the world, according to new analysis by international estate agents Savills. The global super-rich invested more than £3.3 billion in London property last year. While middle class [...]
Cooler days, everyone back to work, and the property exhibition season gets under way. 1. First up is a small do for property investors (mainly buy to let) in Birmingham on 23 September, called West Midlands Property Tribes. They’re meeting at the Irish Centre in Digbeth, which sounds quite low rent, but it’s only a [...]
Lenders approved 49,239 mortgage loans in August 2011, the most since May 2010, although still well below pre-crisis levels. “The latest rise in mortgage lending may be a response to the increasingly competitive mortgage interest rates available to some borrowers,” said Capital Economics analysts. The average effective rate on new mortgages fell by 0.16 of [...]
The Mortgage Verification Scheme, which came into force at the end of August 2011, means that lenders can choose to pass on applicants’ details to Her Majesty’s Revenue & Customs (HMRC) for additional checking. If they don’t match what is written on their tax returns, they could face an investigation. A spokesman for the Council [...]
Continue reading " Mortgage Fraud – The HMRC Are Watching You! "
In contrast to the typical pattern of bursts of sales and lettings in spring and autumn, both have been unusually busy despite the holidays, according to agents W A Ellis. “The lettings market in prime Central London is as busy as it has been for over a decade with tenants eager to secure properties in [...]
Continue reading " Summer Property Activity Unusually High "
Rising rent inflation has forced more than 100,000 more home renters into the flat-share market over the past year, according to the latest research from easyroommate.co.uk, a flat-sharing website. The average number of renters living as flat-mates or lodgers has increased since a year ago as renters abandon living alone to save on increasing rents. [...]
Fifty three per cent of would-be home buyers believe that they won’t ever be able to afford to buy a home, according to a new report from the Post Office. Half of them said that in order to save enough money for a deposit, they would need to either get a better-paid job with a [...]
The end of the stagnant housing market is in sight, according to the Centre for Economics and Business Research (CEBR). The think tank has predicted that by 2015 house prices across the UK will have risen on average 14 per cent – to an historical record. A new report from the CEBR predicts that the [...]
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