Mortgage loans plummet as tax break expires May 21, 2012 MORTGAGE lending plunged in April after the stamp duty holiday expired, industry data showed yesterday, while economists warned the underlying state of the housing market is weakening. Gross mortgage lending slumped from £12.6bn in March to £10.2bn in April – a 19 per cent fall to an 11-month low, according to data from the Council [...]
Falling supply lifts London’s house prices May 20, 2012 LONDON’S house prices rose strongly in April, again outstripping the national market, industry data revealed today. Meanwhile a new study shows most parents support their children in buying houses, with 11 per cent giving over £100,000, underlining the tough state of the market. Average asking prices throughout the UK stayed unchanged in the month to [...]
How to get on the housing ladder May 20, 2012 THERE is no doubt about it. It’s tough out there for first time buyers. But stricter lending criteria don’t necessarily mean it’s impossible to get on the housing ladder. However, you must know the basics so you can build your decision on strong foundations. DO THE MATHS Incentives matter. It was recently confirmed by the [...]
House prices in the capital are detached by location May 20, 2012 London’s property market is outperforming but some boroughs are well off the pace LONDON Neither London, nor England and Wales, have returned to their 2008 peaks – but London is close. From March 2009, prices have grown 16 per cent in London compared to 6 per cent in England and Wales as a whole. However, [...]
Transport and schools are key to valuations May 20, 2012 TRYING to predict where London’s house prices will go as a whole is a fools errand. The house price earnings ratio suggests property remains overvalued, but the influx of foreign cash combined with inflexible planning restrictions could see prices continue to rise. It’s easier – and more fruitful – to weigh up different areas. THE [...]
Stamp duty deadline stimulates surge in March mortgage loans May 16, 2012 MORTGAGE lending soared throughout the housing market in March, industry data showed yesterday, as the stamp duty holiday fuelled an escalation in buying. First-time buyers were exempt from stamp duty on properties worth under £250,000 until the end of the month resulting in a 74 per cent monthly rise in the number of first time [...]
Thai food giant mulls £2.5bn Birds Eye offer May 13, 2012 A THAI food firm has emerged as the latest suitor in the £2.5bn battle for the frozen foods group behind Birds Eye. Charoen Pokphand Foods, Thailand’s largest agribusiness firm, is preparing a bid for Iglo, which has been put up for sale by buyout firm Permira. The first deadline for bids was on Thursday when [...]
NAB’s British business drags down profits May 10, 2012 NATIONAL Australia Bank (NAB), the country’s top lender by assets, yesterday posted record first half earnings as higher trading, fee income and a rising share of the mortgage market countered losses in its UK operations. While NAB and rivals ANZ and Westpac have reported strong headline numbers for the half-year, all saw margins squeezed as [...]
Buy to let loans rise as market woes heal May 10, 2012 BUY to let lending jumped sharply in the last year, industry figures showed yesterday, though the sector remains far smaller than it was in its 2007 peak. Lending in the first quarter hit £3.7bn in 32,000 loans, according to the Council of Mortgage Lenders. This was up 32 per cent on the same period of [...]
Third way for London 2012 ticket hopefuls May 8, 2012 LONDON 2012 ticket applicants who failed in the first two rounds of sales are to be given first refusal on the next batch of 90,000 seats, which will be released from Friday at 11am. The 20,000 Olympics fans who missed out in the initial ballot and second chance sale will have 31 hours of exclusive [...]