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Mortgage, loan,property & finance news


Annual house price fall in to single digits

The price of a typical house rose by a seasonally adjusted 0.9% in June, according to the Nationwide. At £156,442, the average house price across the UK was still 9.3% lower than a year ago, but this marks the first time since July 2008 that the

Bank of England reports negative equity over 1 million

Property price falls mean that 1.1m homes are now worth less than their mortgages, according to figures from the Bank of England. In the first quarter, some 12,800 houses were repossessed 51% higher year on year.

Britain's biggest repossession

Britain's priciest repossession is to be offered in a residential receivership sale next month. The £20 million 19th Century luxury property in Mayfair is making credit crunch history as it is nearly twice as valuable as Britain's previous largest

Buy-to-let rent falls as supply increases

Rental on buy-to-let properties have fallen by 6% over the past 12 months with rising supply the key issue. The supply of rental flats, in particular, is up by between 50% and 100% depending on location, according to a recent residential review.

Demand for mortgage adviers soars

Online search specialist Infoserve has recorded a 94% increase in the number of searches for mortgage advisers on the internet since September 2008. Data from Infoserve’s local search directories, which receive 32 million hits a month.

May gross lending still subdued

Gross mortgage lending totalled an estimated £10.3 billion in May, a 2% decline from the £10.5 billion in April and down 58% from May 2008, according to new data from the Council of Mortgage Lenders.
OFT puts estate agent register online

The Office of Fair Trading (OFT) has launched an online version of its register of estate agents who have been given official warnings or prohibition orders under the Estate Agents Act 1979.

Property asking and selling prices narrowing

Almost 60 percent of surveyors are now reporting that the gap between asking and selling prices are narrowing says RICS research published today. In contrast, last August results of the same survey revealed that the gap was widening.

Tax warning on commercial property 

Due to government tax changes it has been suggested that fewer people will be maintaining commercial property holdings in their pensions in future. It is widely felt that only people with high levels of cash holdings in their self-invested personal

Tenant Arrears over £250m in UK

Around 133,000 tenants faced potential eviction for arrears at the end of May, equivalent to one in twenty five rental occupants, according to new monthly research. Although the figures look bad, they actually represent an improvement on the picture

UK housing repossessions to peak within 2 years
A leading economist has predicted it will be another two years at least before repossessions reach their peak, and the outlook for the UK’s economy remains ‘hideous’ for the next decade. 
 
 

 

 
 

 

 

 

 
 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

 

 

 

 

 

 

 
 
 
 
 

 

 

 

 

 

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