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Monthly Archives: November 2009
Average house price rises £7,000 in past six months
Home owners have banked a £7,000 property bonus over the last six months, official figures showed yesterday. The cost of a typical three-bedroom semi is now almost £160,000 – up from £152,815 in May. Property experts hailed the news as … Continue reading
AMI: increase mortgage market competition
The Association of Mortgage Intermediaries (AMI) has called on the Government to introduce a range of measures to increase competition in the mortgage market. The request comes ahead of the Pre-Budget Report, in which the AMI has urged a … Continue reading
BTL remortgaging activity falls
The proportion of landlords remortgaging their investment properties has fallen to its lowest level for over two years, according to Paragon Mortgages. A survey of mortgage brokers found that 39% of landlords obtained a buy-to-let mortgage via a financial … Continue reading
Posted in Mortgage News
Tagged Business, Buy to Let, Financial services, Loan, Mortgage, Mortgage broker
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Protection for mortgage borrowers
The protections enjoyed by mortgage borrowers in the UK are to be strengthened under new proposals, the Treasury has said. The Government’s consultation document has outlined plans for the Financial Services Authority to protect borrowers whose mortgages are sold onto … Continue reading
Brighter spots in housing sector
At the start of the year, the group that represents Britain‘s lenders predicted that property repossessions would hit 75,000 – almost precisely the figure last seen in 1991 at the peak of the previous recession. This month the Council … Continue reading
Posted in Financial News
Tagged Business, Financial services, Government, Interest rate, John Healey, Mortgage, Recession, Unemployment
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Treasury hands FSA powers to protect homeowners from repossession
Buy to let mortgages are to fall under the remit of the Financial Services Authority for the first time as a result of plans to be announced by the Treasury today. The City regulator is also to be given oversight … Continue reading
Buy-to-let spree as investors exploit discounts dangled by developers
Investors are snapping up newly built flats in northern cities at substantial discounts, clearing out the unsold stock of several leading housebuilders. Many such buyers are accountants, doctors and solicitors who are becoming landlords for the first time, weary of … Continue reading
Posted in Financial News
Tagged Business and Economy, Buy to Let, Discounts, East Sussex, England, Estate agent, Estate Agents, Lenders, London, Mortgages, Property, Real estate, Times
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Banks win Supreme Court case on overdraft charges
Millions of bank customers seeking billions of pounds of overdraft charge refunds have been dealt a major blow by a Supreme Court ruling. The court has overturned earlier court rulings that allowed the Office of Fair Trading to investigate the … Continue reading
Paragon expects to resume lending next year
Paragon, the buy-to-let mortgage specialist, expects to restart lending in 2010 after seeing evidence that the money markets are beginning to open up again. The lender, which is entirely wholesale market funded, has been in hibernation since late 2007. However, … Continue reading
Justin Moy