property news & market information

more mortgage brokers banned

Two mortgage brokers - Andrew Bowden of Surrey and Shaun Lawrence of Nottingham - have been banned by the Financial Services Authority for breaching rules and misleading the regulator. read more

mortgage lending slumps

Mortgage lending by the high street banks fell by 60% in the last year, according to the latest figures released by the British Bankers Association. In November 2007, more than 45,000 new home loans were approved: a year later it was less than 18,000... read more

fresh moves to get lending going

The Government has made fresh moves to stimulate the lending market, by reforming its Credit Guarantee Scheme for banks' borrowing. It hopes the changes will increase the availability of home loans... read more

housing market 'not at bottom yet'

House prices have another 15% to fall, suggests the head of one of Britain's largest banks and mortgage lenders. John Varley, chief executive of Barclays Bank, predicts that house prices will eventually lose about 30% of the market value of their peak from last year. They have so far fallen only half that amount... read more

sales: no bonus boost this year

With sellers facing up to the Christmas slowdown, asking prices in the prime property market continued to fall in November, according to Primelocation.com's latest House Price Index...read more

HIPs to be simplified

The Government has agreed to a major reform of the widely criticised Home Information Packs. read more

HSBC promises more home loans

HSBC is promising to double last year's mortgage lending in 2009, as part of its attempt to increase its share of the home loans market. read more

OFT to investigate estate agents

The Office of Fair Trading (OFT) is to investigate the market for buying and selling homes. read more

homeowners get new lifeline

Homeowners who fall behind in their mortgage repayments because of a temporary financial crisis could be protected from repossession for two years, under plans announced by the Government. read more

bank rate cut to lowest level since 1951

The Bank of England's base rate has been cut to its lowest level for over half a century, in a sign that policy-makers are worried that the property market and the wider economy are sliding further into recession. read more

house prices set to fall further, says Nationwide

The fall in house prices has begun to level out, according to the latest Nationwide monthly survey. But it remains unclear how soon the bottom of the market will be reached. read more

ski resort properties holding their price

One category of property has held its value fairly well so far: ski apartments and chalets, especially in the most popular areas of the Alps. read more

there are still good ways to buy abroad

AS if the credit crunch and the impending recession weren't enough, the downside for Brits wanting to buy overseas has been compounded by the plummeting value of the pound. read more

Chancellor draws praise - and barbs

Greater protection against mortgage repossessions, an extension to the Income Support Mortgage Interest scheme and more debt advice services for those moving into arrears on their mortgages have been unveiled by the Chancellor in his Pre-Budget Report as he attempts to kick-start the property market and wider economy... read more

buy-to-let landlords snagged in tax net

Struggling buy-to-let owners have been hit by another blow, with the news that HM Revenue & Customs (HMRC) has launched 7,371 informal investigations into landlords suspected of failing to declare and pay tax... read more

bombsite Britain

The Government's taxation of empty business properties has come under fresh pressure after its chief whip called for the practice to end in the North East... read more

market conditions affect where Britons buy international property

Our recent survey of people searching Primelocation.com for International property shows that the credit crunch has had an effect on where potential purchasers are planning to buy.read more

'prime market values continue to fall' - Primelocation.com House Price Index

Prime London sale prices, prime country sale prices and prime London rental values all fell in October, with further decline expected in the coming months. While some areas remain unaffected...read more

turning a blind eye to harsh realities

Homeowners are substantially underestimating the decline in value of their properties, according to a new survey. While home values have fallen by at least 6% in the last three months, homeowners believe that the value of their homes has dropped by a mere 0.1%... read more

better times predicted

The latest statistics from the Council of Mortgage Lenders and the Royal Institution of Chartered Surveyors (RICS) appear to show further depressing evidence of the state of the property market. Yet underneath the bad news come fresh indications that... read more

housing market's 1.5% boost

A dramatic 1.5% cut in the base rate has underlined the level of problems in the property and financial markets. The scale of the Bank of England's rate cut caught analysts by surprise, with the base rate now falling to 3% - the lowest level since 1955. read more

house building targets 'too ambitious'

Plans to build three million new homes by 2020 should be reconsidered given the state of the property and financial markets, the Government has been told by an influential group of MPs. read more

hope emerges

Glimmers of hope are emerging in the residential property market, with mortgage lending rising, inter-bank lending rates falling and the prospect of further moves by the world's major central banks to again cut base rates. read more

Irish collapse a sign of continued trouble

One of Ireland's largest housebuilders - with property development interests in England and much of the world - has collapsed. The Belfast-based Taggart Holdings was placed in administration at the request of its two largest lenders, the Bank of Ireland and Ulster Bank (part of the Royal Bank of Scotland). read more

protecting homeowners from repossession

New rules to protect homeowners from repossession by mortgage lenders have been announced by the Treasury. Housing minister Margaret Beckett said the move would ensure that repossessions could only take place after all other avenues have been explored. read more

'prime property values all fall in September' - Primelocation.com House Price Index

For the fourth successive month, prime London values have decreased and stock levels are at their highest, soaring 33% higher than this time last year. read more

regulation likely on home sale and rent back

Home equity release schemes in which homes are sold and rented back should be subject to regulation by the Financial Services Authority, the Office of Fair Trading has concluded after an investigation. read more

'house prices to fall further' according to RICS survey

Further falls in house prices can be expected, according to the latest Housing Market Survey from the Royal Institution of Chartered Surveyors (RICS). read more

£37bn bailout - what does it mean for property?

You wait ten months for a morsel of good news, then three come along all at once. The government's emergency £37bn recapitalisation of the UK banking sector means fundamental changes for Royal Bank of Scotland, HBOS, Lloyds TSB and Barclays. read more

mortgage lenders thrown lifeline

Emergency action to strengthen the capital position of banks and building societies should help free up the mortgage market and improve the prospects of borrowers, according to the Council of Mortgage Lenders. read more

dramatic interest rate cut takes market by surprise

The Bank of England and other central banks have operated with unprecedented global co-ordination to announce a cut in base rates of half a per cent. read more

rental demand rises, buy-to-let mortgages fall

Buy-to-let investors are facing a harder time obtaining mortgages - despite signs that income from property rentals is rising, as more would-be first time buyers opt to rent instead. read more

house prices fall further

House prices fell by 12.4% in the last year, according to the latest figures from the UK's second largest mortgage lender, the Nationwide Building Society. read more

Bradford & Bingley is nationalised

Bradford & Bingley may be in safe hands at last, but the impact of its nationalisation could be devastating for investors large and small. read more

HBOS and Lloyds TSB deal – what does it mean for you?

The merger of Halifax Bank of Scotland and Lloyds TSB is the financial topic du jour, but what effect will it have on your mortgage or savings? read more

Prime London sale prices and prime London rentals fall again in August

Values for residential property in prime Central London have now dropped for three consecutive months with prices down 5.37% from May.... read more

Bank of England holds base rate for the fifth month running in September 2008

Against a background of falling property prices and low consumer confidence, the Monetary Policy Committee announced on 4 September 2008 that the UK base rate would again be held at 5.00%... read more

Government homes package: "too little, too late?"

In an effort to kick-start the flagging UK housing market and to shore up Gordon Brown's position as PM, the Treasury announced on 2 September 2008 a one-year stamp duty holiday on properties up to £175,000... read more

prime London sale prices and prime London rentals fall again in July while prime country prices seem immune to current market conditions

The July Prime Index the UK's leading search portal for prime properties, shows the largest monthly decline in prime London sale values since February 2004... read more

London Landlords' Day

Landlords, investors, property developers and the buy-to-let-curious won't want to miss London Landlords' Day, on 4 September at the Olympia Conference Centre.... read more

Bank of England holds base rate again in August 2008

As widely predicted, the Monetary Policy Committee announced on 7 August 2008 that the UK base rate would again be held at 5.00%... read more

Bank of England holds base rate at 5.0% in July 08

The Bank of England announced on 10 July 2008 that interest rates have been held at 5.0%. Despite calls from the business community to reduce rates, the decision to hold them at 5.0% was widely anticipated... read more

prime London sale and rental asking prices fall for the first time in 2008, while prime country property produces only marginal gains

The latest data for April suggests that the prime London property market may be finally starting to go the way of the mainstream market, with average asking prices falling for the first time in 2008... read more

banks lose first round of overdraft charges court case

Consumers are one step closer to victory in the battle against bank charges. The High Court has ruled that the Office of Fair Trading... read more

prime property sale prices continue to increase, while prime London rental prices soar to record levels

The divergence between the prime London market and the mainstream sector continues to grow... read more

what do the new tax changes mean for you?

The new tax year started on Sunday 6 April, and with it came a raft of changes that will affect individuals. Some will be beneficial... read more

Bank of England lowers interest rate to 5.0%

On 10 April 2008, the Bank of England announced a reduction in interest rates of a quarter per cent from 5.25% to 5.0%... read more

budget 2008 - what does it mean for you?

On 12 March 2008, the Chancellor, Alistair Darling, delivered his first Budget speech to the House of Commons. But while the increased duty on alcohol and high-polluting cars may be grabbing the headlines, what are the implications of the announcements on the mortgage and housing markets? read more

prime property prices rise again in February 2008

Given the current turmoil in the money markets and the uncertainty that continues to be fuelled by the impact of the credit crunch, the prime London property market has demonstrated some resilience so far in 2008. read more

Bank of England keeps interest rates at 5.25%

On 6 March 2008, the Bank of England decided to hold interest rates at 5.25%. The decision was expected from analysts and economists as the Bank tried to balance a weaker economic outlook with growing inflationary pressures. read more

Bank of England cuts the base rate to 5.25%

On 7 February 2008, the Bank of England cut interest rates by 0.25% to 5.25%. The move was widely anticipated by analysts, with reports of rising inflation and slower economic growth. read more

make your dream home a reality on TV

Has the time come for you to head to the countryside or coast and start over? Are you preparing to can the commute, renovate a run-down property and embrace a more laidback lifestyle? It's no small feat, but if you're on your way to a sea change or tree change, Channel Five wants to go there with you. read more

prime London asking prices rise again in January, as the prime Country and mainstream markets continue to struggle

The rather gloomy picture of the prime London property market in November and December 2007, illustrated by the Primelocation.com House Price Index, reflected a mood of caution from buyers alongside a glut of potential sellers attempting to achieve a sale before prices declined even further. read more

what is the average prime property price in your county?

While there are many sources available for mainstream property price information, the Primelocation.com House Price Index is unique in that it focuses purely on the prime property market. read more

Bank of England holds base rate at 5.5% in January 08

On 10 January, the Bank of England announced that interest rates will be held at 5.5%. The decision came on the back of a slowdown in consumer spending and further signs of growing inflation. read more

prime country property asking prices fall significantly in December, while prime London prices stall

The prime London sales market ends 2007 with average prices rising by just 0.1% since November and with annual price growth of 13.0%, down from a peak of 31.2% witnessed back in June. read more

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