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Britons 'prepared to move' before Christmas

Although spring is traditionally the busiest time for people moving houses, new research from Alliance & Leicester (A&L) has revealed that one quarter (22 per cent) of house buyers will make the move in the 12 weeks before Christmas. And while most people set aside money for presents and parties in December, the mortgage provider found that one in 12 (eight per ...

16th Nov 2007

Buying 'still tops renting' in UK

While it still remains cheaper to pay a mortgage than pay rent in most parts of the UK, the gap between the two expenditures is shrinking. That is according to an annual report from Abbey, which reveals that the average homeowner paying a mortgage over 25 years will spend £437,925, while a tenant over the same period will pay an average of £443,736 on rent. That ...

14th Nov 2007

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One in four landlords to grow property portolio

Almost a quarter of landlords are planning to buy more properties over the coming five years. Figures from the National Landlords Association (NLA) show that 23.4 per cent are looking to grow their portfolios in that time, although 60 per cent believe their portfolios will remain the same size. NLA chairman David Salusbury said: "The fall-out from the so-called credit ...

9th Nov 2007

Rics report: Only wealthy can afford to become landlords

Only wealthy individuals can now afford to become landlords, a new report from the Royal Institution of Chartered Surveyors (Rics) concludes. Rising house prices, higher interest rates and levels of rental cover ratios for mortgages "have made investment an unattractive proposition for vast swathes of the population". Buying an average home today would require a ...

8th Nov 2007

Land Registry takes down digital deeds and leases

The Land Registry has taken down the electronic versions of mortgage deeds and leases from its website. This move, which came into effect last night (November 5th), means that individuals will not longer be able to view these documents online, but will have to apply in writing to the Land Registry if they wish to see them. Customers had expressed concerns that fraudsters ...

6th Nov 2007

More Brits set to buy second homes in Blighty

More and more Britons are set to purchase a second home in the UK over the coming ten years. That is the prediction of Direct Line Home Insurance, which published a report finding that the number of people buying a second home in Britain would probably rise by around a quarter by 2015. Should this scenario pan out, it would mean that 405,000 properties would be bought in ...

30th Oct 2007

Consumers 'should use only regulated equity release providers'

Consumers should be careful to use only regulated providers of equity release schemes. Peter Couch of provider Bridgewater pointed out that most companies offering sale and rent-back schemes are completely unregulated. "The majority of these schemes are actually unregulated entirely," he said. "The problem is that there are actually some regulated versions of ...

25th Oct 2007

UK could face sudden house price correction

The UK is at risk of suffering a sudden fall in house prices, according to the International Monetary Fund (IMF). The organisation's latest global economic outlook suggests that European countries including Britain could undergo a correction in house prices similar to that seen in the US. "There remains the concern that the US experience might presage steep housing ...

22nd Oct 2007

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