There will be several potential stumbling blocks for the property market during 2012. Lenders will make it much tougher to take out cheap interest-only loans, which have helped prop up the property market. This is a reduction in credit and will exert downward pressure on prices. The second problem is that lenders are still cash-strapped [...]
Continue reading " The Challenges Facing the Property Market "
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 "
Figures from the Council of Mortgage Lenders show the dramatic uplift in the value of deposits needed by first-time house buyers: from just £12,000 in 2007 to £26,000 today. This represents 87 per cent of their median salary compared to 41 per cent four years ago. The CML described the issue as the “biggest challenge” [...]
Continue reading " First Time House Buyer Deposits Equal To A Year’s Salary "
As winter turns to spring and people’s minds turn to the likely upshot of the economic turmoil in Britain and its impact on the property market (at least mine does), we present a snapshot of the sentiment among property experts and commentators: Simon Rubinsohn, chief economist at Royal Institution of Chartered Surveyors (RICS): “I think [...]
Today I’m going to stare into my crystal ball (actually it’s a crystal whiskey glass) to forecast what will transpire in the property world in 2011. Don’t hold me to any of this though The trend towards tightening mortgage conditions will continue for the first half of the year, with lenders remaining reluctant to extend [...]
‘Look out, SHAAAAAARK…’ With the current dearth of contradictory information regarding the property market and whether house prices are rising, falling or whatever, consumers could be forgiven for thinking they were being duped by various authorities, providers and other sources of market data. My very strong piece of advice here is this: When you are [...]
Continue reading " UK property: A startling view of some facts behind the figures… "
Homeowners who bought their home between 2006 and 2008 are being urged to take a look at the best mortgage deals being offered in the marketplace because the latest research indicates that homes bought within this period should have enough equity to allow savings to be made through remortgaging. Quite an interesting report until you [...]
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