Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it
Homebuyers look to advisers |
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Monday, 24 May 2010 09:22 |
Figures showing that homebuyers continue to place their trust with advisers when choosing a mortgage deal have been welcomed by the Investment management Association (IMA). Data from the FSA and Council of Mortgage lenders show that mortgage lending via intermediaries accounted for 62% of total mortgage lending in the first three months of the year, both by volume and value. The IMA said the figures 'highlight the value that homebuyers and remortgagers continue to place on the expertise and service levels offered by the mortgage broker community.' First time buyers looked to brokers most frequently, with 71% of first time buyer loans being arranged by intermediaries in Q1 |
Average house price up £25K |
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Monday, 24 May 2010 09:19 |
The average house price in England and Wales has risen by more than £25,000 in the last 12 months, although the number of sales being made is still historically low. A 0.5% rise in prices during April took the average house price up to £225,963. It marks the twelfth month in succession that values have risen, according to Academetrics. The rising house prices are not translating into sales however, as transactions fell by 5% in April, compared with March. The level of sales in April, was the second lowest figure for the month since1995. Dr Peter Williams, chairman of Academetrics, said that increased buyer competition in a market characterised by weak supply had affected sales. |
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HIPs suspended with immediate effect |
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Thursday, 20 May 2010 14:06 |
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Communities Secretary Eric Pickles and Housing Minister Grant Shapps today announced that with immediate effect, they are suspending the requirement for homeowners to provide a Home Information Pack when selling their homes. Pickles today laid an Order suspending HIPs in England and Wales with immediate effect, pending primary legislation for a permanent abolition. The Secretary of State says he has taken this swift action in order to avoid uncertainty and prevent a slump in an already fragile housing market. He believes HIPs are currently holding back the housing market because sellers are having to fork-out extra cash, sometimes hundreds of pounds, just to be able to put their home up for sale.The government believes suspending HIPs will reduce the cost of selling a home, remove a layer of regulation from the process and provide a welcome help to the housing market during the recovery. |
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Read more... [HIPs suspended with immediate effect]
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Treasury urged not to regulate BTL |
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Wednesday, 17 February 2010 09:19 |
The Treasury has been urged not to regulate buy-to-let lending by the Council of Mortgage Lenders (CML). While agreeing with proposals to extend regulation to cover second-charge mortgages and to ensure borrowers are protected when mortgage books are sold on, the CML said that regulating buy-to-let loans would not result in increased consumer protection and would almost certainly capture too wide a range of commercial transactions. In addition, the Treasury proposals failed to help buy-to-let borrowers decide whether to invest in property at all, the CML said. "Fundamentally, the CML still believes that buy-to-let loans are essentially commercial transactions with an investment dimension, and should not be subject to retail mortgage regulation," it added. |
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