It is one of a number of proposals put forward to boost the faltering UK economy.
Ministers are also reportedly looking at ways of reducing fuel costs.
Apparently the plan is to suspend stamp duty for a limited period on all house purchases. (more…)
The Halifax is about to cut rates on its fixed and tracker rate mortgages by up to 0.4% (more…)
By John Myers, head of mortgages, moneysupermarket.com
There’s been little in the way of good news for borrowers over the past few months. However, in the last couple of weeks a number of the major lenders have reduced mortgage rates, so could we at last be seeing a glimmer of light at the end of the tunnel? (more…)
Surveyors report that some buy-to-let investors are entering the market to take advantage of rising rents and equally that ‘predatory buyers’ are looking to bargain for reductions in a falling market.
David Blanchflower was the only member of the Bank of England’s Monetary Policy Committee (MPC) to vote for a interest rate cut in Junes MPC meeting (more…)
As the credit crunch tightens its grip UK house builders are feeling the pinch with almost 70% of the 6 biggest house builders price value being whipped on their collective share value. But what does this mean for UK property investors? (more…)
Bank of England governor Mr King was at pains to point out the current situation in the UK housing market was not a return to the crisis of the 1990s during an examination by the Treasury select committee today.
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England requires 3.475 million new properties by 2020, according to the National Housing and Planning Advice Unit (NHPAU).
Without this number of new homes, property will remain unaffordable, to the detriment of society, the government has been told.
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5.0%.
The Bank is caught between a rock and a hard place when it comes to setting rates at the moment. On the one hand, cutting interest rates might help the housing market, mortgage holders and boost spending on the high street. (more…)
A report released by the National Association of Estate Agents (NAEA) has found that the property market picture is still very regional but elements of the market appear to be stabilising.
The NAEA report asked its members to comment on a number of key areas. The number of viewings made on a property prior to selling was 14, which has increased by two from this time last year. The average difference between asking and selling price was 4.7% which the NAEA saw as sellers becoming ‘more realistic’ with the prices (more…)