Existing loan books effecting market
The question being asked by potential borrowers in the UK is why after receiving billions of pounds from the government are lenders still not issuing mortgages at a rate that suits buyers.
The problem is that even after getting their hands on the governments handouts the lenders are still saddled with mortgages secured on properties that [...]
Millionaires drop by half
In 2007, there was an estimated 500,000 millionaires in the UK, but according to recent figures this has now halved to 250,000 and the main culprit is the fall in property values.
The research carried out by the Centre for Economics and Business Research found that in 2007, there were 489,000 millionaires in the UK, but [...]
Average UK rents
There has been much spoken about the value of property and how the market could be on the verge of bottoming out, but when it comes to rents there is never much said and yet the rental market is a significant part of the property sector.
The average monthly rent is currently £589.68 this is calculated [...]
Man sets house on fire chasing a spider
Some stories are just too odd to be true, like this guy in Portsmouth who clearly suffers from arachnophobia has apparently set his home on fire. Fortunately, for the man in his forties his home was not that bad, but it could have been so much different.
What is amusing in a crazy sort of way [...]
MP buys retirement home on expenses
MP’s expenses are a political hot topic at the moment therefore it’s sensible to take a look at one particular MP, Rudi Vis aged 68 naturally he his thinking of retirement and where better than the Suffolk coast?
However, the purchase of a £520,000 home for the North London MP has been made with expenses from [...]
The state of the rental market
Usually when the price of property falls, the cost of renting increases and visa versa, but we find ourselves in an exceptional marketplace these days and due to the amount of property on the market at the moment, rental prices are also in the decline.
London is a good place to look as the market is [...]
Is renting better than buying?
A couple of years ago people who rented property were in fact simply throwing their money down the drain, whereas on the other hand those people with mortgages were in fact the shrewd investor who could only make money. How times have changed and yet is renting better than buying?
Some people believe so, at least [...]
Getting back into the market
It is like the holy grail of the property market, when to get onto the property ladder. In the past, this was not a problem, in fact, banks and building societies were literally falling over themselves in order to get new business, but we all know where that led us.
The property market has seen prices [...]
Property prices in Spain still dropping
Spain had been the dream for many Brits to either retire to or even just to start a new life, yet with a community that has been estimated to be as high a one million people things may not be so good over there these days.
For some enough is enough and it is time to [...]
Interest rate cuts to move market
Will the UK property market begin to show signs of a turnaround now that the Bank of England have reduced interest rates down to their lowest levels ever, or is this just going to hurt even more people and continue the cycle of decline.
For the property investor this would seem to be an ideal time [...]
UK entry level open ups
Could the UK property market be about to open up for the first time buyer? Property prices have been falling over the past year and now they have reached a point where it could be the time where those first time buyers who have been holding back, finally decide to make the jump.
On paper, the [...]
£591 billion mark down on property
It is a terrifying thought but property experts have come up with the figure that shows how much property prices have fallen by throughout the UK during the past year.
The average price drop per property is £22,083, this makes the total loss in values stands at £591 Billion, but the figure although looking high is [...]
Don’t blame the estate agents
Who is to blame for the current housing crisis? Like with any crisis there is always someone to blame but in this there are many angles to the story and they all seem to be blaming each other.
The banking sector has taken the main hit for allowing people to borrow money that clearly they had [...]
House prices still set to fall
The UK is split up into a lot of different markets when it comes to the values of property and not surprisingly these markets all act in very different ways, but there is one thing that all have in common the prices are falling.
On average it is believed that the figure will have fallen by [...]
TV Prop guru expects property to rise
There is just one thing that property want owners want to hear and that is will the market ever recover from this down turn, which has seen thousands of pounds being wiped of the value of their properties.
Well one of the most respected TV property experts Phil Spencer from the Channel Four series “Location, Location, [...]
Results of property survey not good
Not only is there a collapse in the property market itself, but there is according to a recent study a total collapse in the consumer confidence in the property market, this is bad news for those who hope to see a recovery in the property market soon.
The study found that in 2006 buyer’s confidence was [...]
Mortgage protection insurance
Now more than ever the interest in mortgage protection insurance should be on the top of any home buyers list of things to do, but what exactly does this insurance actually do for you should the worse happen?
Most mortgage protection schemes are there in case of emergency, this is why in the past there has [...]
The mistakes sellers make
For someone who is selling a property getting potential buyers around to have a look at the place is a great thing, especially in the current climate. However, sometimes sellers are inclined to put the buyers off by making some very fundamental mistakes and end up losing the sale.
This is sometimes because the seller is [...]
First impressions count
Getting a potential buyer to have a look at your property in this type of climate means that you are onto a good thing, so why do so many viewings fail to end up in a sale? The main reason is the first impression, as soon as a potential buyer sees the property, they virtually [...]
September 17, 2008Changes to stamp duty
The government has made a small attempt to try and help revive the ailing UK property market, but will cutting the stamp duty thresholds actually make any difference at all?
Well what they have done is to suspend the stamp duty on a property, which is valued at £175,000, or less, this is supposed to help [...]