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Rise in first-time buyer mortgage approvals

The number of mortgages approved for first-time buyers increased by seven per cent in February compared to January, according to figures from the Council of Mortgage Lenders (CML). But this is still a 46 per cent decrease in lending figures from 12 months ago. In February there were 9,400 mortgages approved to first-time buyers, the average value of the loans was ...

14th Apr 2009

New mortgage deal announced

Britain's biggest bank has announced that it has reserved £1 billion to go towards 90 per cent mortgages. HSBC revealed its new range of mortgages which it said reflects the bank's commitment to its customers. Joe Garner, group manager of HSBC's personal financial services, said the bank would "stand by its customers through thick and thin." "These ...

9th Apr 2009

House prices news archive

House prices 'scaremongering' unhelpful

The housing market is not being helped by scaremongering over house prices , experts have observed. Although property prices have been falling, this has been taken out of proportion, according to FirstRungNow. It claimed that some of the figures suggested for house prices in the UK are "very irresponsible" as they could contribute to first-time buyers and other ...

13th Mar 2009

'Don't be fooled' by property market

First-time buyers and other people looking to purchase property should not get fooled into waiting too long due for the housing market to bottom out. There will be fewer opportunities to find high quality homes for bargain house prices once the market does hit the bottom, according to Ducalian. The property investment firm suggested that now is a great time to buy property ...

12th Mar 2009

House prices fall 2.3 per cent

There was an average 2.3 per cent fall in property prices last month, new data has shown. This comes after a two per cent increase in January, according to the latest Halifax House Price Index. On an annual basis, this has made homes worth 17.7 per cent less than they were at the same time last year, with the average house value now being close to its August 2004 level. ...

9th Mar 2009

'Distressed' property recovery boosts market

A recovery in distressed house prices could result in values rising across other areas of the housing market, experts believe. As property prices recover, this could boost economic confidence on a wider scale, according to Ducalian. It has noted that the housing market is "due a correction" and a return to lending that is fair to all parties. Timothy Lambert, ...

6th Mar 2009

House price expectations moderate

The expectations of people in the UK regarding house prices have moderated in the last month, figures have shown. According to the Nationwide Consumer Confidence Index, Brits expect property prices to fall by 4.7 per cent over the next six months. However, this is far less than the 6.2 per cent decrease in value for homes predicted in January. Nationwide believes that this ...

5th Mar 2009

House prices 'stuck in time warp'

While house prices have dropped, property developers are stuck in a time warp at 2007 values, experts have claimed. New builds are being priced at "ridiculous" levels that do not take into account the current economic climate, according to Firstrung. Paul Holmes, chief executive of the firm, said that while homeowners have seen their properties lose 20 per cent of ...

12th Feb 2009

House prices 'will level out'

House prices are likely to level out and return to levels they have been at in the past, experts have claimed. The Property Investors Network believes that homeowners can expect increases in house values in the future, which makes now a good time to buy. Simon Zutshi, founder of the Property Investors Network, noted that it is possible to purchase properties that are well ...

9th Feb 2009

House price expectations decrease

House prices are expected to decrease further by the majority of UK citizens, a new study has suggested. Nationwide's Consumer Confidence Index recorded an overall fall in January, dropping from 48 in December to 40 last month. This was reflected in the optimism shown for property prices , with homeowners expecting values to fall by 6.2 per cent over the next six months. ...

5th Feb 2009

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