Home purchase lending hit its highest level for 11 months. November saw 53,259 home purchase loans released to hopeful homeowners, the most in a single month since January 2012, according to e.surv chartered surveyors.
Spencer Dale, chief economist of the Bank of England said that inflation in the UK market is expected to remain ‘sticky’ around the 2% mark for the near future.
The information solutions provider Equifax has warned lenders to expect tighter scrutiny in the future by the Financial Conduct Authority (FCA). This comes in light of the FCA fining a major mortgage lender £1.2 million for not treating customers correctly.
Local councils will be giving planning permission the go ahead for 400,000 new properties according to a new report by the homebuyers and solicitors adviser SearchFlow.
The property comparison website Zoopla.co.uk announced its findings that in 90% of towns across Britain, it may be more economical to purchase a property rather than rent one.
HSBC today report that an estimated 3.6 million borrowers on a Standard Variable Rate (SVR) mortgage could save money by re-mortgaging to a cheaper rate of interest.
Sam Jones
National Association of Estate Agents president, Mark Hayward has been outspoken regarding the Government’s Autumn statement last week claiming there was little reassurance that the Coalition has put the problems facing the UK housing market high enough on the political agenda.
Rob Killeen
Rob Killeen, family barrister and financial broker at Capital Fortune considers the Government’s proposed extension of marriage, yesterday’s figures on divorce, the impact for parties and children and whether there are any lessons we can learn from Europe.
An investigation by the consumer organisation Which? has found evidence suggesting that bank staff are still under pressure to sell financial products, despite rules restricting the requirements necessary to take out a loan.
The Chancellor’s Autumn Statement announced the government’s expectation that the period of austerity will continue until 2017/18. A recent report by The Legal and General Mortgage Club and the think tank CEBR, identified eight key factors that were preventing the UK housing market from returning to a state of normality until around 2017. The report, A New Normal in the Housing Market, as well as identifying certain factors, concluded that the British housing market was past the worst, but recovery would be slow.
