Tag: new build

NewBuy mortgage scheme launched

NewBuy mortgage scheme launched

The government launched its NewBuy scheme today, to help people afford a mortgage on a new property. The mortgage indemnity scheme will help people borrow up to 95 per cent of the value of new homes, for example on a newly built £200,000 property they would have to provide a £10,000 deposit. Since the credit […]

March 12, 2012 More
Property coming to market at record low levels

Property coming to market at record low levels

Despite record levels of search activity on its website this month, estate agency Rightmove reports that the number of new homes being put up for sale has fallen to the lowest level ever recorded. More than 44 million property searches were carried out on Rightmove’s site during the first ten days of 2012, a 27% […]

January 16, 2012 More
Concerns raised over mortgage guarantee scheme

Concerns raised over mortgage guarantee scheme

Lenders and financial experts have highlighted a number of potential problems with the Government’s mortgage indemnity scheme, which was announced yesterday. Banks and building societies have commented that the scheme was rushed through with insufficient thought, while financial commentators warned that first time buyers taking advantage of the scheme could end up owning a house […]

November 22, 2011 More
Barratt completions take a tumble

Barratt completions take a tumble

Barratt Developments completed 11,377 homes in the year to the end of June, down from 13,277 in the previous 12 month period. Furthermore, over the 10 weeks since the group’s financial year end, net private reservations averaged 0.48 per active site per week, down from 0.51 in the same period of 2009. Cancellation rates remained […]

September 9, 2010 More
New regulations for property valuations

New regulations for property valuations

New regulations aimed at preventing inflated property valuations have come into force this week. The measures are aimed at protecting mortgage lenders who have in the past become the victim of deliberately inflated valuations. In the case of new build city centre flats and apartments, prices have plummeted in the past year because of a […]

September 2, 2008 More
NHA urges action on new builds and mortgage rescue scheme

NHA urges action on new builds and mortgage rescue scheme

The National Housing Association (NHA), which represents 1,300 not-for-profit housing associations in England, is asking the Government to use up to £1 billion to buy new homes from housing developers who cannot sell the properties they have built. The sale of new homes has plummeted since the beginning of the year and many developers have […]

June 20, 2008 More
CML acts on new build property valuations

CML acts on new build property valuations

The Council of Mortgage Lenders (CML) has published plans that will sharpen up lending practices in relation to new homes. From 1st September, new standards for the professionals who act for lenders on newly-built property transactions will apply. They aim to ensure that valuations and conveyancing procedures reflect the market value of a property and […]

June 11, 2008 More