Record fall for properties
The Nationwide building society has been keeping records since 1991 when conducted their first housing survey, this now acts a guideline for the current state of how the property in the UK is doing and it is not a pretty sight.
The data collected has shown that the average house price has fallen 1.7% last month [...]
Woman escapes repossession by suicide
It is a sad sign of the times when people feel that they have no choice other than to end their lives.
However, this just highlights the pressures that some people are finding themselves in, as the financial pressures build on ordinary people who have done nothing wrong, apart from trying to get on in [...]
Average UK house price falls
The UK average house price has fallen this month on the same time last year. This is the first time that something like this has happened in the UK property for a number of years. The property marketing company Rightmove Plc started keeping records in 2002 and this is the first time since their record [...]
July 17, 2008First time buyers find it hard
First time buyers are having to come up with a whole load of cash in order to get that first step on the property ladder according to the Royal Institution of Chartered Surveyors first time buyers need to find around £27,738 just to get the key to the door of their new home and these [...]
July 1, 2008Average property prices down
House prices may have fallen by around two per cent this year, but with figures due out from various building societies saying that new mortgages are at an all time low, then it will not come as a surprise to hear that house prices for the year from June 2007 to June 2008 have fallen [...]
June 13, 2008Giant Greenhouses come to the UK
Commercial property is a very funny area of the property business, this is mainly because of the cheap availability of ready made units and the fact that where companies have moved on from the premises these may not be suitable for other businesses.
But to buck the trend in Kent there is a commercial property being [...]
Mortgage arrears on the rise
The first quarter of the year has seen some increases in the rate of mortgage payment defaults, this has particularly hit the UK sub prime mortgage market, and these are home buyers who do not have a brilliant credit history.
During this period the total amount of mortgage holders who have arrears of more than thirty [...]
Is the housing market that bad?
Whatever the current state of the property market is, or rather what we are all being told. Maybe it is not as bad as some people may fear. Yes there are not many first time buyers, mortgage lender are getting tough and the property prices are falling slightly, but it that all?
For the property market [...]
Just how bad is the housing market?
As if anyone needs to be told the housing market is suffering one of the worst slumps for almost thirty years, that is not to say that prices have fallen down to those prices or that they ever will. It is just that the confidence in someone or a couple to commit to paying off [...]
March 5, 2008Preparing houses for sale
There could be tough times ahead for anyone wanting to sell their property in the coming months, simply because there are going to be a limited amount of buyers and more houses on the market, so when there are two identical houses in the same road there is a need for them to compete against [...]
February 1, 2008Mortgage broker tales
This is a good on how mortgage brokers work in the states, from reading this you will be able to get a better understanding of how and why the mortgage sector in the USA is in such a terrible state.
Brokers pad genuine fees and invent new ones to make more money.
Brokers have another name for [...]
Landlords selling up
With the property market hitting a bit of a slump, the first sign is the lack of first time buyers and then we see that the landlords who have bought their properties as an investment, but they rely on a tenant pays the landlord rent and this goes towards the mortgage.
But as mortgage repayments have [...]
Home repossessions still on the rise
It is a sorry sign of the times when property experts are predicting the house market crash etc, but even more disturbing is the forecast that around seventy thousand homes could be at risk of being repossessed in 2008.
These calculations have virtually tripled over the past year; this is because of the raising of interest [...]
Interest rate cut for property boost
Homeowner had some welcome news when the Bank of England cut interest rates for the first time since the middle of 2005, there has been growing concerns that inflation, high oil prices and the cost of mortgages could be slowing down the economy, something had to be done.
The interest rate has been cut by just [...]
Lenders worried about the future
This is going to be a tricky time for the UK’s mortgage lenders, on the one hand due to the sub prime problem in the States they have to take more care on who they lend money to by tightening up their application processes and on the hand they are facing a fall in mortgage [...]