There was some good news for the UK housing market’s cheerleaders yesterday.
In August, the number of loans agreed for UK house purchases rose to 52,410. That was up from 49,644 in July. If more mortgages are being approved, that normally means greater demand for property.
Meanwhile, the average UK house price nudged higher by 0.1% in September following a 0.6% drop last month. Prices are still down year-on-year, but the fall has been cut to just 0.3%.
So are things looking up? As you might have guessed, we don’t think so. And it’s not just us.
Now the ‘insiders’ want out of the property market.
Mortgage approvals aren’t as good as they look
Posted in Finances Important Mortgage News Real Estate by .
READ this before making a comment, please :)
All comments are held for moderation. This can take a while and your comment may not be posted at all.
Make sure your name and email is correct.
Speech is free, but this website IS moderated! Please, comment the relevant post and stay on topic, link to your website in the field provided. Thank you!
The U.K.-based property fund manager has issued a memorandum of green lease principles – including clauses relating to the use of environmental contractors and upholding energy performance certificates – that will now be considered whenever it drafts a standard lease.
Posted in Finances Mortgage News Real Estate by .
It’s being hosted by PlumLife, the government-appointed HomeBuy agency for Greater Manchester and supported by Manchester City Council.
“The average age of first time buyers here in the north west has risen to 37 years old. People trying to get on the property ladder face a really tough challenge.”
Some of the UK’s top developers will also be there with information about private new-build homes available to buy across the region with the help of the government’s latest scheme, FirstBuy.
Posted in First Time Buyer Important News Real Estate by .
Aug 11
24
Ten tips for buy-to-let
1 Look further afield
It may be that you can find more affordable houses, or keener demand for rented property, in a different part of the country from where you live.
2 Do your sums
Work out the monthly rent you can expect against the cost of your monthly mortgage repayments. Factor in the size of the deposit required (some mortgage firms now want 25 per cent), plus what happens if the property sits empty for a month or two.
3 Research the market as a whole
Consider the effects of the Government’s decision to cap the amount of rent it allows housing-benefit recipients. The same applies to the Article Four restrictions (on the type of tenants you can take) that some councils are planning to impose on landlords.
4 Students may no longer = money
Traditionally, they turn up …
Posted in Education Interesting Real Estate by .
Selling a home when buyers are on the beach is hard at any time, but 2011 is extra tough. Some 70 per cent of homes on the market since January remain unsold and each estate agent is handling an average 78 homes for sale. This is far higher than usual in summer, says Rightmove.
So sellers have to go to extreme lengths to make their home stand out. You would think, for example, that a rare eight-bedroom penthouse with two terraces overlooking Lord’s cricket ground would sell in a strong central London market. But even here, sellers go the extra mile.
Posted in Interesting News Real Estate by .
Maps have been used in a variety of imaginative ways to help those looking to sell or buy property but this latest one from Zoopla offers an easy, at-a-glance overview. It shows the average current value of homes – colour coded by area from High to Low. And while it may not come as a surprise to many to see London and the south-east in the red-coloured high zone, there are some interesting revelations as you zoom in.
Posted in Interesting News Real Estate by .
The loan was underwritten by Irish Nationwide, a bank that collapsed during the global financial crisis, and extended to the property’s developer, Leslie Allen-Vercoe of Rhymer Investments. When the bank went belly up many of its loans were assumed by the Irish government, which created NAMA in 2009, in response to the financial crisis. Now NAMA wants its mortgage money.
Posted in Construction Interesting Luxury Real Estate by .
When Robert and Marguerite Antell told architect James Johnson they wanted to build a fun, artistic home, he handed the couple a coke bottle with a flowering sprig of Queen Anne’s lace. “This is your new home,” he explained. Forty years later the cream-colored pod that they built from his plans hit the market for $1.1 million in Pittsford, N.Y.
The “Mushroom House,” as locals call it, is comprised of five connected “pods,” or housing structures, including two living areas, a patio, a master suite with office, and a guest pod with two bedrooms. More than 10,000 tiles bedazzle the walls, floors and counters throughout. Completed in 1971, the distinctive building has undergone an extensive update and garnered landmark status.
Posted in Funny Interesting Real Estate by .
In February 2010, the OFT secured an enforcement order from the High Court when it ruled that Foxtons’ renewal commission terms were not transparent, which led to Foxtons amending some of their letting agreement terms. The evaluation finds that the OFT intervention has resulted in positive benefits for consumer landlords that use Foxtons with an estimated annual benefit of at least £4.4 million.
However, the OFT is embarking on further engagement and awareness raising as the evaluation report found that some consumer landlords and letting agents remain unaware of the High Court ruling and its implications for the sector, with similar potentially unfair terms still appearing in some contracts.
Posted in Important News Real Estate by .
The latest figures from the Council of Mortgage Lenders show that gross mortgage lending totaled an estimated £12.6 billion in June, a 16% increase from the £10.8 billion lent in May. However, it was 3% lower than June 2010.
CML chief economist Bob Pannell said that it is disappointing economic growth, strong consumer price pressures, falling disposable incomes and an uncertain jobs market that is preventing people from buying property.
‘This backdrop weighs negatively on purchase decisions relating to home ownership. By contrast, landlord activity appears to have picked up recently and, with evidence of strong rental demand, this should help to underpin activity over the coming months,’ he said.
Posted in Finances Mortgage News Real Estate by .
