The latest figures from the Land Registry show that house prices fell by 1.3 per cent in England and Wales in 2011, with the average property costing £160,384 in December. Prices remained stable at the end of the year, with no change between November and December 2011. The only place in England and Wales where [...]
Norwich & Peterborough Building Society (N&P) has launched a low rate, low fee mortgage to attract buyers who plan to stay in their property for a longer period of time. The ten-year fixed rate mortgage offers an interest rate of just 3.99 per cent APR, making it one of the cheapest deals on the market. [...]
House sales fell 1 per cent in 2011, with just 869,000 residential properties sold, according to HM Revenue and Customs (HMRC). In January 2011, traditionally the weakest month for property transactions, just 45,000 houses were sold. However, the market did improve at the end of the year, with 76,000 sold in December. The property market [...]
Although more new houses were put up for sale in December, transactions were hampered by sellers asking too high a price for their properties, according to the Royal Institution of Chartered Surveyors (RICS). December saw the number of houses put up for sale increase for the third month in a row, especially in London where [...]
Mortgage lender the Halifax claims that house prices fell by 1.3 per cent last year to an average of £160,063, their lowest level since July 2009. According to the Halifax House Price Index, house prices fell 0.9 per cent in December, compared with the previous month. Although prices rose in the third quarter of 2010, [...]
The Halifax reported a 0.9 per cent fall in house prices in November, compared with the previous month, and it expects the housing market to remain steady over the winter. November’s fall in house prices came despite a 3 per cent increase in the number of mortgages approved during the month to 52,700, according to [...]
The latest house price figures from Nationwide Building Society contradict yesterday’s news from the Land Registry that house prices have fallen over the past year. Nationwide today said that house prices are ‘surprisingly resilient’ with November’s figures showing a year-on-year increase of 1.6%. In contrast the latest Land Registry figures showed a 3.2 per cent [...]
House prices fell at a faster rate in October than they did in the previous month, according to Land Registry figures, with the average house price dropping to £160,000. The house price index fell 3.2 per cent in October, compared with a 2.6 per cent fall in September. Although house prices in London fell by [...]
Not so long ago houseowners could rely on the equity in their existing property, generated by its growing market value, to fund a move to a larger home, but new research from HSBC confirms that this is often no longer an option. The bank suggests that a fall in property prices means that first time [...]
Although the mortgage market is currently stable, the outlook remains uncertain in the face of the eurozone crisis. The Council of Mortgage Lenders (CML) has reported that 48,200 mortgages were taken out to buy homes in September, two per cent less than in the previous month. However there was a 3 per cent improvement in [...]
New figures from the Halifax show a 1.2 per cent increase in house prices in October, however compared with a year ago they have fallen by 1.8 per cent. In the three months to the end of October, house prices fell by 0.3 per cent, compared with the previous quarter, representing the first fall since [...]
The latest house price index from the Nationwide Building Society has revealed prices rose by 0.4% in October on a monthly basis. On an annual basis, house prices are now 0.8% higher than this time last year – representing the first yearly rise in six months – with the average UK home costing £165,650. However, [...]
US consumer confidence slumped in October, the Conference Board has reported. The closely-monitored Consumer Confidence Index from the Conference Board dived to 39.8 this month from September’s reading of 46.4. Not only was the reading less than forecasts of a level of 46.0, it was the lowest since March 2009, when the US was in [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market is suffering due to fears over the economy. However, the Institution said the number of enquiries from potential new buyers increased marginally in the month, with 3% more surveyors reporting a rise rather than a fall. First-time buyers, in particular, [...]
The Council of Mortgage Lenders (CML) has today reported the number of loans for house purchase rose in August. According to the Council, there were 52,000 loans advanced for house purchase (worth £7.9 billion) in the month – up from 48,700 (£7.2 billion) in July. The Council described today’s figures as “welcome signs of life” [...]
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices rose by 0.6% in August compared with July. However, on an annual basis, house prices are 1.3% lower, taking the average UK house price to £208,476. The data from the DCLG is based on mortgage completions figures collected by [...]
The Halifax has today revealed UK house prices fell by 0.5% in September on a monthly basis and follows a 1.2% fall in August. The latest fall takes the average cost of a UK home to £161,132, the Halifax said. On an annual basis, meanwhile, prices are 2.3% lower, said the lender, which is now [...]
According to housing intelligence group, Hometrack, house prices in England and Wales fell in September – the 15th consecutive monthly fall. According to Hometrack, house prices dipped by 0.1% in September on a monthly basis and are 3.5% lower on the year. Hometrack attributes the ongoing trend to weak demand for housing on the uncertainty [...]
The latest house price index from the Nationwide Building Society has revealed prices rose by just 0.1% in September on a monthly basis. On an annual basis, house prices are now 0.3% lower than this time last year with the average UK home costing £166,256. Meanwhile, when comparing prices in the three months to the [...]
According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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