First 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 15, 2008The sign of a good or bad agent
With the property market in the state that it is in at the moment, it is essential for someone wanting to sell their house that they find the right estate agent, failure to do so could result in being a very expensive mistake to make.
But how on earth can you tell if an agent is [...]
The state of the UK mortgage market
How the mortgage market has changed over the past year or so. It was not that long ago when borrows were inundated with so many different mortgages from equally as many lenders, but that was before the credit crunch and now things could not be any more different.
The problem now for borrowers is that the [...]
Average 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 30, 2008House prices remain low until 2015
It may be some time before the prices of property return to levels of what they were before the credit crunch; according to a top government advisor these prices will not reach that level until 2015! This is a daunting prospect for many people who have seen their property prices drop slightly, but it does [...]
June 27, 2008Mexicans to claim land in Texas
No, this is not a call to arms, or an attempt by the people of Mexico to retake parts of Texas, although to some people who live in the lone star state, could be thinking that an invasion is on the cards. But it is rather a call to the wealthy Mexicans to get onto [...]
June 25, 2008Even the wealthy fear property prices
With the property market being a bit unsettled the last people that you would have thought of as giving up and selling off would be the wealthy investors who have made so much out of investing in the UK property market.
But it would appear that even these wealthy people have become a little scared at [...]
Housing sector looking worse
It has been said that we are looking at a situation that could be worse than in the late 1980’s when the property market was certainly dire! But without have to seem too of a doom and gloom merchant but things could be the same or worse.
According to the Building Societies Association, the rescue plan [...]
Now could be a time to buy
There has been a one sector of growth within the property sector which has seen some significant growth. They are called “Property Finders” and they follow the lead that we have seen on the TV where house buyers get help in buying their dream home.
They are considered to be the other side of the coin [...]
More mortgages to choose from
There is no wonder that the finance industry is in such a state, you just have to look at the amount of weird and wonderful mortgages that are available in the market:
Muslim mortgages
Unusual home mortgages
125% mortgages
Builder deposit mortgages
Self certification mortgages
Shared equity mortgages
Shared ownership mortgages
Euro mortgages
Commercial mortgages
Guarantor mortgages
Buy-to-let mortgages
Clearly these products have been created for a [...]
Getting priced out of buying a home
Despite the so called credit crunch, there are literally thousand of first time buyers waiting to find their dream home. This you would think, sort of goes against the current trend.
However, according to a recent report by Professor Steve Wilcox, of the University of York, there are around twenty five per cent of these [...]
House prices in the US falling fast
Any hopes of a quick recovery from the slump in the value of houses may have taken a bit of a hit today as it has been announced that the property sector in the US is falling faster than property prices did during the Great Depression.
In the first quarter of the year house prices were [...]
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 [...]
The price of homes still falling
With house values dropping for the eighth month in a row in England and Wales there has to be some concern as to where this is going to stop, are the prices going to fall further or will the price of property recover?
The problem that faces all of us at the moment is the simple [...]
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 [...]
May 9, 2008Surviving property repossession
As bad as it may seem to normal people, house repossessions are on the rise; around seventeen thousand homes were repossessed last year alone. That’s a huge amount of families who have been left without a home.
But this figure is set to rise, despite the government’s advice; if you fall behind on your mortgage payments [...]
BBC makes repossession programme
It makes no difference what TV channel you watch you are almost guaranteed that at some stage there will be some sort of property programme which explains how easy it is to up and sell on at a huge profit. But rarely is this happening these days, prices are high and buyers are virtually non [...]
April 28, 2008Housing market at lowest for thirty years
For the first time in over thirty years confidence in the UK housing market has fallen to its lowest point, this follows a report from the Royal Institution of Chartered Surveyors (RiCS) which stated that nearly eighty per cent of their members are reporting falls in property values for the month of March.
It is believed [...]
Options for first time buyers
Even though there is a potential house buying crisis going on at the moment and it is new home buyers who getting the raw end of deal. Despite what is being said about new buyers trying to get a foot on the property ladder there some decent opportunities out their for the first time home [...]