Property market news
Mortgages disappearing from the market
Potential homebuyers have been advised to try to secure deals on mortgages as soon as possible.
It comes as the global credit crunch continues to affect the mortgage market, leading to many lenders pulling some products from the market.
Michael Coogan, director general of the Council of Mortgage Lenders (CML), told BBC Radio Four’s ‘Today’ programme that […]
Gross lending declines in February
Gross lending declined to an estimated £24 billion in February, down 7% from £25.9 billion in January and 6% from £25.6 billion February 2007, according to the Council of Mortgage Lenders.
The Bank of England approvals data for January showed subdued levels of house purchase activity and a sharp rise in remortgage approvals, which is likely […]
First time buyers attracted to tracker mortgage deals
Expectations of future cuts in interest rates have led to a “greater appetite” for tracker rate mortgages, one expert has claimed.
Sue Anderson, a spokesperson for the Council of Mortgage Lenders, explained that while first-time buyers have traditionally been more attracted to fixed rate mortgages, changing economic conditions are also changing attitudes.
Anderson said: “At the moment […]
Poverty ‘blights 1m rural homes’
Almost one million households in rural England live in poverty, a study says.
The report, by the government’s rural advocate, Stuart Burgess, says many people living and working in the countryside have prosperous lifestyles.
But the picture is “not so rosy” for more than 928,000 households with incomes below the official poverty line of £16,492, he adds.
It […]
Build or regret
Institutional fund managers have resisted the temptations of housing, and left it for the enthusiastic amateurs to live their buy-to-let dreams. But would the big investors be so dismissive if there were something of scale, stability and high returns called ‘build to let’?
A recent research by the British Property Federation and the Greater London Authority […]
