According to Savills research, whilst this weeks interest rate cut may be good news for the economy and thereby provide some comfort for homeowners, the extent of the impact on the housing market could be limited.
The housing ladder once seemed straight forward. You leave home, buy your first home and then progressively move up the housing ladder, before perhaps trading down in retirement. However, research from the Council of Mortgage Lenders has revealed that today, things are a bit more ‘fuzzier’.
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The Government has announced the regional distribution of more than £1bn to revitalise the housing market in key areas and restore stable communities.
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House prices fell by 0.5% in February, the fourth consecutive monthly decline says Nationwide.
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Mortgage holders could see interest rates cut by 0.5% before the end of the year, according to the chief executive of Irish Life & Permanent, Denis Casey.
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The Government’s drive towards zero carbon housing has taken a major step forward with the announcement that all new homes are to be rated on their green credentials from May 1st.
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The National Landlords Association (NLA), which represents almost 14,000 landlords, has welcomed the decision by the Office of Fair Trading to issue High Court proceedings against a major High Street letting agent.
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Adult children are ’sapping’ their parents’ savings and investments at an increasing rate of knots, as Scottish Widows reveals the position has got even worse over the past year.
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The Office of Fair Trading has issued High Court proceedings against Foxtons Limited seeking a declaration on the application of the Unfair Terms in Consumer Contract Regulations 1999 (UTCCRs) to certain terms in Foxtons’ lettings agreements with landlords.
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Data from the Council of Mortgage Lenders shows that buy-to-let lending totalled £24.1 billion in the second half of 2007, up from £21.2 billion in the first half of the year and £20.8 billion in the second half of 2006.
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Manchester’s regeneration has been given a multi-million pound boost today alongside the creation of a new ministerial group to support city leaders in bidding for further projects, Communities Secretary Hazel Blears said.
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