The lender's latest house price index revealed a mid-summer lull, with property values dipping 0.6 per cent in July as the pace of property inflation eased. The average home still costs almost £13,000 more than a year ago, at £198,833, with prices up 7.9 per cent annually, according to Halifax.
Value of prime London homes up a lowly 2% in last year to lag behind Bangkok, Delhi and Nairobi, upmarket estate agent says
House prices in London have nudged ahead by two per cent in the last year, according to the latest quarterly index of luxury property from upmarket estate agent Knight Frank. This places it 21st in a list of cities which have seen the strongest property value growth in the last 12 months, behind Bangkok, Delhi and Nairobi. ...read
The ground rent on my leasehold flat just went up by 25% after only five years: Is the freeholder entitled to do this?
I bought my maisonette with 125-year leasehold five years ago. My ground rent then was £200 per year but I have just had a letter advising me it is to be increased to £250, which is a massive jump. How legal is this? Combined with the service charges it amounts to just over £700 a year. How feasible is it to buy the freehold or extend the lease in the future?
Want to exchange contracts fast? Then follow these top five tips for pushing through your property transaction
The pre-election uncertainty may be over and even the sun has made an appearance, but that doesn't mean there won't be major hurdles to overcome leading up to exchanging contracts on a new property. Even when both the seller and buyer are keen to exchange quickly, things can grind to a halt. And seasoned home-movers are not immune. The time between an offer being accepted and exchanged can be as quick as six weeks in England and Wales.
PROPERTY MARKET ESSENTIALS
The luxury flats in the heart of London's financial centre... where British buyers get first refusal
British buyers will get first bite of the cherry on new apartments being launched in London's financial district. Canary Wharf Group's move has turned on its head the controversial practice of heavily promoting London developments to wealthy overseas buyers - particularly in the Far East. ...read
Ten tips for buy-to-let: the essential advice property investors need to consider
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Lower house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips ...read
MORTGAGES, HOUSE PRICES & PROPERTY NEWS
Inheritance and gifts the only way for many young people to get on the property ladder, as more struggle to raise deposits
One in six young people between 25 and 34 years old said to have relied on inheritance from a relative to buy their own house, compared to just one in 20 people aged over 55, housing charity Shelter said. Half think their children will be able to buy their first home only after receiving an inheritance, a survey of more than 1,000 parents suggest.
Is Britain sitting on a £200bn buy-to-let time-bomb? Landlords borrow vast sums to fund property empires
HOUSE PRICES: LATEST ON THE PROPERTY MARKET
House prices to rise three times faster than previously thought in 2015: Chronic lack of properties will push up values 4.7%
House prices will rise by 4.7% during the course of 2015 the Centre for Economics and Business Research says. It says a 'chronic lack' of properties being listed for sale has pushed up prices in recent months and is one of the main reasons behind the upward revision to the forecast. ...read
MORTGAGES MUST READ
Demand for mortgages is rising 'significantly' as rates fall to record lows, says Bank of England
Demand for mortgages for buy-to-let and prime property purchases has grown especially, the Bank of England report showed. The number of households taking out personal loans has also increased as the cost of borrowing falls to a record low, the bank's latest credit conditions survey found. ...read
BUY-TO-LET: PROPERTY INVESTING ESSENTIALS
Buy-to-let mortgage boom continues with lending up 22% compared to a year ago - but number of first-time buyers drops
The Council of Mortgage Lenders said 22,700 mortgages worth a total of £3.4bn were handed out to first-time buyers. This is a 16% decrease compared with a year ago. On the other hand, lending to landlords jumped 22% compared with a year ago and 1% on April. Some 19,100 buy-to-let loans were handed out in May, with a collective value of £2.7billion. The CML said the rise reflected a jump in remortgage activity since the beginning of the year. ...read
ASK AN EXPERT
Should we move back in with parents to save for our first home - or will lenders look more favourably on us if we are meeting monthly rent payments?
My fiancé and I have reached a crossroads. We have been renting in London for the last few years but are now ready to buy our first property in outer commuter lands. We have a sufficient deposit, but cannot decide whether to take a short-term rent outside of London while house-hunting or move back in with parents who live near to the area we are planning to buy in the interim. ...read
GUIDES & TOOLS TO BEAT THE PROPERTY MARKET
On the hunt for a home? The first-time buyer's guide to getting a mortgage
Are you hoping to get a foot on the property ladder? This Is Money's step-by-step guide explains how first-time buyers can get the best deal on their mortgage, make sure they pick the right choice for them and avoid the market's traps. We explain what new buyers need to know, and how they are being offered assistance from the Government in the form of Help to Buy.
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- As Bank of England hints that interest rates could rise by the end of the year Should borrowers lock into a fixed-rate mortgage now?
- The ground rent on my leasehold flat just went up by 25% after only five years Is the freeholder entitled to do this?
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