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Interest rates stand at 5%

07 August 2008
The Bank of England has once again voted to keep UK interest rates on hold. The Monetary Policy Committee''s primary goal is to keep inflation at 2% and it currently stands at 3.8%. Most eviden...

Negative Equity

04 August 2008
If you''re already sick of hearing about house prices, here''s the bad news: we''re going to be listening to tales of property woe for a lot longer yet. This week, the Nationwide said prices were fall...

Prices Down Again!

01 July 2008
LONDON (Reuters) House prices fell for an eighth straight month in June to stand more than 7 percent below the peak hit last year, a survey showed on Tuesday, adding to expectations that the onceboom...

B & B give a poor outlook

03 June 2008
In a recent interview, Rod Kent the struggling bank''s chairman and acting chief executive stated that he believed the UK was ''at the beginnings of a recession''. He also said that the faltering ec...

Property Sales may fall further

20 May 2008
The Royal Institution of Chartered Surveyors (RICS) has warned that property sales may fall by 40% this year because of the credit crunch. In its updated forecast for the housing market in 2008, RICS ...

Repossession on the increase

12 May 2008
According to the MoJ, the number of repossession orders made by the courts in England and Wales at an early stage of the repossession process rose 17% in the first quarter of 2008. The number of mortg...

Banks hindering recovery

01 May 2008
The Bank of England has warned that Banks need to be bolder in lending cash if Britain is going to pull out of an economic slowdown. The BoE’s deputy governor went further, accusing Lenders of ''hinde...

Available mortgages decrease!

27 April 2008
Mortgages seem to be suffering the worst, as The British Bankers'' Association (BBA) revealed that there were just 35,417 new mortgages approved for house purchases in March, 18% lower than in Februar...

FTBs'' in trouble

24 April 2008
According to the latest report from the National Association of Estate Agents (NAEA) first time buyers are finding the current property climate difficult agents report that the market share for the fi...

House Market in Correction phase

16 January 2008
According to RICS data, 49.1% more chartered surveyors said house prices fell during December than those who reported a rise the lowest figure since November 1992. At the same time, demand remaine...

Consumer Confidence is on the decline

09 January 2008
Nationwide’s consumer confidence index fell by one point during the month to 85 its lowest level since February last year. But ongoing economic uncertainty and the impact of higher food and petrol ...

House Prices still declining

12 October 2007
The Royal Institution of Chartered Surveyors said house prices declined in September for the second month in a row with 14.6% more surveyors reporting a fall in prices rather than a rise. This was an ...

Interest Rate No Change

05 October 2007
Economists say the Bank is adopting a ''waitandsee'' policy on rates until a clearer picture emerges of the effects of the recent global credit squeeze. This is despite some calls for a rates cut ...

Residential Prices on the Decline

04 October 2007
Over the past two months, annual residential property price growth has fallen sharply, according to Chesterton… The price of an average residential property in England and Wales is now £198,422, ac...

Stamp Duty Con!

02 October 2007
Stamp duty revenue from property sales rose by 40% (£1.6bn) in 2006/07 to a record £6.4bn. Over the past five years annual residential stamp duty revenue has doubled with a 140% rise from £2.7bn in 20...

Confidence is broken

19 September 2007
Tim Warrington of Landlord.co.uk says: “As consumers widely lose confidence in the housing market – a situation not helped by the recent crisis at Northern Rock the rental boom that is giving landlor...

Rates Increase

09 July 2007
The Bank of England tightened the squeeze on borrowers as it raised interest rates by a quarter point to 5.75%, their highest level for sixandahalf years. While savers will welcome the latest rate ...

Interest Rates?

09 June 2007
The latest Confederation of British Industry retail survey suggets that high street sales in March rose at their fastest pace in more than two years, and were twice as strong as analysts had predicted...

Interest Rates Increase

15 May 2007
Interest rates have now increased to 5.5%, with many home owners facing higher mortgage repayments, while credit card debts may also cost more… The BBC has produced a Q and A about the potential i...

Property Repossessions will increase

27 April 2007
According to The Guardian small increases in interest rates will will increase the number of repossessions in the UK to the highest levels since the crash of the early 1990’s. Even a onepercentage ...

Interest rates left unchanged

05 April 2007
LONDON (Reuters) The Bank of England kept interest rates steady at 5.25 percent on Thursday but financial markets are betting that borrowing costs will still rise in May. Most economists had predi...

Overvalued housing market set to crash

02 April 2007
The housing market is heading for a major fall next year according to figures produced for The Daily Telegraph… With property prices at their most overvalued and inflated level in more than 15 ye...

‘Shock tactic’ halves house price growth

19 February 2007
The shock tactic of an unexpected rate rise early in the year appears to have dramatically cut rises in house asking prices. And the smaller than anticipated monthly rise in asking prices has resu...

Interest rate to rise again warns Bank

15 February 2007
The Bank of England has signalled that interest rates will need to rise one more time to pull inflation back in line. In its quarterly inflation report, the Bank said that inflation was on course ...

Bank rates kept steady

08 February 2007
Homeowners will be pleased to know that the Bank of England’s Monetary Policy Committee ended days of speculation and kept interest rates on hold at 5.25% at the end of their twoday meeting midday tod...

Home repossession orders jump

02 February 2007
LONDON (Reuters) Mortgage repossession orders rose sharply in the last three months of 2006, as households struggled to repay home loans which have gone up in line with borrowing costs. The Depart...

Housing market is cooling down

18 January 2007
Further evidence that the housing market is beginning to cool was revealed today by the Royal Institute of Chartered Surveyors (Rics). Its surveyors reported that prices rose at their slowest pace for...

Bank of England makes surprise rate rise move

11 January 2007
In an unexpected move today The Bank of England announced it had raised interest rates to 5.25% following this month’s meeting of the Monetary Policy Committee. The move brought interest rates to t...

Interest rates on hold but more hikes possible

08 December 2006
LONDON (Reuters) The Bank of England kept interest rates unchanged on Thursday and economists are divided over whether two hikes in borrowing costs in the past four months have done enough to curb in...

Unrealistic’ house prices to tumble

23 November 2006
A prominent economist and former government adviser claims the house market has been founded on unrealistic expectations and will burst within two years. David Miles, who is chief UK economist at i...

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