Average house price drops 8 per cent in SeptemberAnnual house prices in England and Wales fell by 8 per cent in September to prices last seen in autumn 2006, according to the latest figures from Land Registry.
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Sellers expectations could hinder the house market
UK house prices fell for the 12th consecutive month during October and are now nearly 15% lower than a year ago, according to the latest research from the Nationwide.
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Building Societies net lending grows during September
Net mortgage lending by building societies increased to £314 million in September, from -£37 million in August, but was still 47% lower than the figure for September last year, the Building Societies Association (BSA) has said.
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Alliance & Leicester cuts fixed rate mortgages
Alliance & Leicester is launching a new range of mortgages, with all fixed rate products to be reduced by between 0.20% and 0.30% compared to products on it’s previous portfolio.
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New Northern Rock mortgage rangeNorthern Rock has announced its new range of mortgage products offering a free basic valuation and free standard legal work for residential remortgages.
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Property values fall back to level not seen since 2006
The last 12 months have seen average property prices fall by 7.3%, taking values back to a level not seen since March 2006 according to Hometrack.
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ECB head hints at a further rate cutEuropean Central Bank (ECB) president Jean-Claude Trichet has hinted at the possibility of a further interest rate cut at its next meeting on November 6th.
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House prices fell by 0.9% in August, the second consecutive month where a fall has occurred leaving the average house price at £166,507, Nationwide has said.
Lloyds TSB has introduced a new, market leading fixed rate mortgage at 2.94%, the product is available both for house purchase and remortgage for borrowers with a deposit of at least 30%.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
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