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Mortgage hunters urged to buy
Now could be a good time to take advantage of falling house prices , a mortgage analyst has suggested. An independent advisor at Gordon Brown Associates has commented that right now first-time buyers and other people seeking mortgages can take advantage of some good value deals. Craig Armstrong told Homemaker: "At the moment there are some excellent mortgage products ...
22nd Sep 2008
Property crisis 'could last until 2010'
There is unlikely to be a full recovery for house prices until 2010, according to experts. Property prices could even fall further and the UK could find itself in a recession similar to that of the 1930s, Opal Property Group has suggested. Stuart Wall, the group's chairman, told the first Crain's Commerical Property Market Forecast: "Property values have dropped by 30 ...
22nd Sep 2008
Property news archive
Bank merger affects mortgage market
The merger between HBOS and Lloyds TSB could result in less competitiveness in the mortgage market, according to experts. In a reported £12 billion takeover this week, a deal between the two major banks was reached, with Scottish first minister Alex Salmond complaining the deal was forced through by "spivs and speculators". A knock-on effect could be ...
19th Sep 2008
Property 'more secure' than stocks and shares
Investing in property is a much safer move than going into the stocks and shares market, according to one expert. Young Group has pointed to house prices dropping just five times in the last 55 years, signalling long-term investors and homeowners can reap the rewards of owning property. Chief executive of Young Group, Neil Young, commented that the relative simplicity of ...
19th Sep 2008
Dropping Hips 'would be a shame' for first-time buyers
Suspending Home Information Packs (Hips) would have a negative effect on first-time buyers, according to experts. Hips remain worthwhile despite recent criticism, although their full influence is not yet known, having only been introduced since house prices have fallen and the market has stagnated, FirstRungNow has claimed. Helen Adams, managing editor of FirstRungNow, ...
18th Sep 2008
Housing market 'to recover' in Wales
The housing market in Wales is set for recovery in the next few years and the crash is being exaggerated, according to a new report. Property prices are likely to stabilise in the near future, despite the "widespread doom and gloom" being forecast, the Housing and Economy report by Cardiff Business School and Atisreal suggests. Patrick Minford, professor of ...
18th Sep 2008
Government confirms house price drop
The house price index has confirmed the drop in property prices over the past year. Compared to 2007 figures, prices in July were 0.3 per cent lower in the UK , the department for communities and local government (DCLG) revealed. This is the ninth month in succession that prices, which are calculated by looking at completed transactions, have dropped. Howard Archer, chief ...
17th Sep 2008
Mortgage costs fall
In the last six weeks, the cost of two-year fixed-rate mortgages in the UK has dropped by more than one per cent on average, according to new statistics. For the best buy fixed-rate two-year deals on homes , interest rates have been cut by 1.16 per cent since the start of last month, mform figures have revealed. Rates have been cut but falling house prices have failed to ...
17th Sep 2008
Property owners 'making most of homes'
Homeowners are making the most out of their current properties rather than speculating on finding a new house, a new survey indicates. The market downturn is causing many people to try to add value to their house by adding features such as extensions, according to the National Association of Estate Agents (NAEA). With house prices in general dropping, 92 per cent of people ...
17th Sep 2008
First-time buyers receive help from parents
More than half of the UK 's first-time buyers have received help from their parents in order to raise the amount of money required to get on the property ladder, according to research. Despite falling house prices , people are struggling to find affordable mortgages without having to seek financial aid from their mums and dads, Moneysupermarket has revealed. Many parents ...
16th Sep 2008