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Monthly Archives: March 2010
Skipton risks action over broken promise
Skipton Building Society’s decision to renege on a guarantee given to 64,000 mortgage borrowers could yet come back to haunt it. London law firm Leon Kaye confirmed last week that after seeking legal counsel it believed that Skipton customers affected … Continue reading
New guarantor mortgage ‘innovative product for first-time buyers’
A new guarantor mortgage that has been launched by The Mortgage Works – a subsidiary of Nationwide Building Society – has been described by one expert as the most innovative first-time buyer product that he has seen in recent years. … Continue reading
Mortgage product availability up 70%
When the financial crisis hit, the mortgage market haemorrhaged products hitting a low of 1,209 on 1 April 2009, say Moneyfacts.co.uk. Since then, lenders have become accustomed to the post financial crisis world and the number of products available has … Continue reading
UK house prices up 6.2% in 12 months
UK house prices were 6.2 per cent higher than in January 2009 and 2.2 per cent higher than in December 2009, reveals the latest House Price Index – January 2010. The UK average house price rose by 6.2 per cent … Continue reading
Buy-to-let tax break plan attacked as further blow to first-time buyers
Thousands of first time buyers will be priced out of the housing market if the Treasury presses ahead with plans to offer new tax breaks to buy-to-let investors, campaigners warn today. The sharp rise in buy-to-let mortgages during the housing … Continue reading
Posted in Financial News, Mortgage Lenders, Mortgage News
Tagged Buy to Let, First-time buyer, Investment, Mortgages
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House market stalls, fuels double-dip recession fears
Fears are growing that the housing market could be facing a double-dip recession, as data released today shows house prices in March have risen by the smallest margin on record. Prices are up a measly 0.1pc compared to February, the … Continue reading
Posted in Financial News, Mortgage Lenders, Mortgage News
Tagged House Prices, Mortgages, Recession
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Sales of second homes increase by 40%
There has been a sharp growth in sales and values of second homes in the UK as the weakness of sterling and fall in prices from the market peak have encouraged buyers to stay in the country rather than look … Continue reading
Posted in Financial News, Mortgage News
Tagged Mortgages, Overseas, Property, Retirement
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Societies offer cheap niche deals
Building societies are leading the mortgage market with innovative products, mortgage brokers say, while state-supported banks have less competitive rates than the rest of the market. Mortgage deals from bailed-out banks account for just eight out of 50 best-buy products … Continue reading
Posted in Financial News, Mortgage Lenders, Mortgage News
Tagged Building Societies, Mortgages. Banks
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Property supply rise stifles prices
A rise in supply of properties for sale saw asking prices record their lowest ever March rise, Rightmove has revealed. An improvement in the weather was attributed with a 34% rise in sellers coming to the market compared with March … Continue reading
Posted in Financial News, Mortgage News
Tagged First-time buyer, House, Mortgages, Property
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Stamp duty holiday hits loan approvals
Mortgage lending to homebuyers slumped by almost a half in January, as the end of the stamp duty holiday took its toll on the property market. The Council of Mortgage Lenders (CML) approved only 32,000 loans during the month, 49% … Continue reading
Justin Moy