Archive | August, 2007
UK vulnerable to lower property prices and higher interest rates
A special report from Fitch ratings has put the UK in second position in an estimation of housing overvaluation worldwide, with property overvalued by over 20%. The top City credit ratings agency also put the UK in third place in its table for overall risk to a property market crash. The top five countries with [...]
Continue reading...Some lenders scrap mortgage exit fees
7. August 2007
More banks and building societies are joining the band wagon and scrapping home loan exit fees charged to customers when they decide to move their mortgage to another organisation. The actions follow criticism by the Financial Services Authority (FSA) that exit fees imposed on customers were being increased beyond their originally agreed amount for no [...]
Continue reading...Introduction of HIPs
7. August 2007
After much talk and delays Home Information Packs are finally launched today – 1 August. From today all properties with four bedrooms or more being put on sale on the open market must have a Home Information Pack (HIP). Each HIP must contain evidence of ownership, planning or building consents, local search information, and an [...]
Continue reading...House price inflation down to single digits
6. August 2007
Latest figures from Nationwide building society show that property prices have risen by only 0.1% in July. This is the slowest rate since April 2006 and brings down annual house price inflation to under double digit growth: to 9.9%. This surely seems to be a sign that potential homebuyers are having to reconsider their options [...]
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9. August 2007
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