The National Housing Federation says banks are turning away £1 billion of business because of prejudice against low cost housing. The banks are refusing to lend to people on modest incomes – first-time buyers and key workers – because they mistakenly view the shared ownership deals as unsound. TheRead More →
Almost half of all fixed rate mortgage deals now charge 5 per cent or more despite the Bank of England keeping interest rates at just 0.5 per cent, according to the Daily Telegraph. The finding comes after a week which saw several major high street lenders increase the ratesRead More →
Mortgage approvals increased by 19 per cent during February, according to Bank of England figures. There were 38,000 approvals in the month, up from 32,000 in January, which surprised pundits, giving them hope that low interest rates and falling house prices may be encouraging buyers back to the market.Read More →
Figures in last week’s pre-Budget report reveal 60,000 low-income families now face paying 90 per cent of any earnings directly to the taxman. The number of affected families is up from 30,000 last year and is forecast to rise again to 70,000 next year. TheRead More →
Commercial law firm EMW Picton Howell has said that the number of planning applications withdrawn by developers has increased dramatically in the past year as local planning authorities put pressure on developers to withdraw so they can meet government time limits for determining applications. The percentage of planning applicationsRead More →
Gordon Brown promised action last night after credit card companies rejected calls to reduce interest rates, some as high as 69 per cent, after last week’s shock cut in the Bank of England’s base rate. In a clear signal that the prime minister is determined to make credit cards his nextRead More →
The slump in house prices eased slightly in November according to the Nationwide‘s index. Compared with October’s fall of 1.3 per cent, this month’s price drop of 0.4 per cent ‘moderated significantly’ recent price falls; however, compared with last November’s figures, house prices were down 13.9 per cent. TheRead More →
Yesterday data from the Land Registry showed that property prices decreased by 0.3 per cent in April, the smallest drop in price for nearly a year, bringing the annual rate down 16.2 per cent. It found that the number of properties sold between November 2015 and February 2016 wasRead More →
One in three Britons is worried their home may be repossessed, with three-quarters of people claiming the government should do more to help struggling homeowners. Consumer group Which? found that 35 per cent of people with a mortgage say they are worried to some degree that they may loseRead More →
In other research, a government think-tank has found that moves towards sustainable energy in the UK are being hampered by old ways of thinking. Foresight looked at how the country’s buildings and spaces will need to evolve to help cut carbon emissions and argues that the UK is ‘lockedRead More →