Monday, 2 November 2009
Friday, 30 October 2009
Mortgage Approvals Rise in September
The number of mortgage approvals in September rose to levels last seen in early 2008, the British Bankers Association (BBA) said today, in a further boost to the UK housing market.
The number of loans granted for house purchase rose to 42,088, a 76.8 per cent rise on the same month last year and a 3 per cent rise on August.
However, the number of loans approved for remortgaging dropped by 10 per cent, down from 23,506 last month to 21,282.
The BBA said that remortgaging was less likely in the current environment, where reverting to lenders’ standard variable rates was often seen as more attractive than alternative mortgage deals.
Times Business
The number of loans granted for house purchase rose to 42,088, a 76.8 per cent rise on the same month last year and a 3 per cent rise on August.
However, the number of loans approved for remortgaging dropped by 10 per cent, down from 23,506 last month to 21,282.
The BBA said that remortgaging was less likely in the current environment, where reverting to lenders’ standard variable rates was often seen as more attractive than alternative mortgage deals.
Times Business
Wednesday, 21 October 2009
Primrose Hill Property For Sale, London NW3
Elsworthy Rise, Primrose Hill, NW3 Freehold: £1,250,000
3 Bedrooms
1 Reception Rooms
2 Bathrooms
Set behind electronic gates, a very attractive mews house with parking for two cars and a roof terrace set within this impressive development of only four houses. The well presented accommodation is set over three floors comprising on the ground floor a spacious fully fitted kitchen/dining room and reception room. The first floor comprises a master bedroom suite with dressing area and en-suite shower room, a further bedroom and bathroom and on the top floor a stunning reception room or third bedroom (with plumbing for en-suite)leading to a very pretty roof terrace with open views. Located in this very quiet setting within close proximity to Primrose Hill, Belsize Park and Swiss Cottage.In accordance of section 21 and the estate agency act of 1979, we declare there is a personal interest in the sale of this property. The property is owned by a relative of one of the partners.
Elsworthy Rise, Primrose Hill, NW3
Sunday, 18 October 2009
Rents lower than mortgage payments – except in London
First-time buyers would be better off buying a property than continuing to rent, according to new research from Abbey Mortgages.
The only exception is those looking to buy in London who would pay less to rent.
The average monthly rent in the UK i s £434, while those buying a similar type of property with a 25 per cent deposit would see a mortgage bill of £382 – an average saving of £52. Prospective buyers in Wales could make the biggest monthly saving of £90.91, followed by those in the North-west, £87.43, and Yorkshire, £77.06. Buyers in East Anglia will see only a marginal saving of £2.59. "It's now cheaper in all bar one of the regions to buy rather than rent which shows that saving for that all-important deposit is worthwhile too," said Nici Audhlam-Gardiner, a director of Abbey Mortgages.
In the capital, though, renting seems a more sensible option. The average rent for a flat is £650 per month, but because of inflated house prices, even those with a 25 per cent deposit would have mortgage payments of £1,116 for the same property.
But buying may be beyond the reach of many; in order to get the best mortgage rate deals buyers have to have deposits of 25 per cent or more. People with smaller deposits can find it hard to secure a mortgage or have to pay well over the odds.
The Independent on Sunday
The only exception is those looking to buy in London who would pay less to rent.
The average monthly rent in the UK i s £434, while those buying a similar type of property with a 25 per cent deposit would see a mortgage bill of £382 – an average saving of £52. Prospective buyers in Wales could make the biggest monthly saving of £90.91, followed by those in the North-west, £87.43, and Yorkshire, £77.06. Buyers in East Anglia will see only a marginal saving of £2.59. "It's now cheaper in all bar one of the regions to buy rather than rent which shows that saving for that all-important deposit is worthwhile too," said Nici Audhlam-Gardiner, a director of Abbey Mortgages.
In the capital, though, renting seems a more sensible option. The average rent for a flat is £650 per month, but because of inflated house prices, even those with a 25 per cent deposit would have mortgage payments of £1,116 for the same property.
But buying may be beyond the reach of many; in order to get the best mortgage rate deals buyers have to have deposits of 25 per cent or more. People with smaller deposits can find it hard to secure a mortgage or have to pay well over the odds.
The Independent on Sunday
Thursday, 1 October 2009
Developers for the super-rich turn their hand to affordable housing
London’s affordable housing comes with a high quotient of style. In the next few months, first-time buyers could move into a boutique apartment in Fulham or join the Primrose Hill set in a landmark development near Camden Town.
“Affordability” doesn’t come cheap, however housing associations consider only those buyers with an income below £60,000. But with monthly costs in Central London hovering between £700 and £1,000, you are likely to need every penny of that.
One of the most controversial schemes, Peel House, in Pimlico, is due to be launched next month. The 14 shared-ownership flats have been created by the property developers Nick and Christian Candy.
The multimillionaire brothers were obliged to fund some affordable housing as part of the deal to build the One Hyde Park development in Knightsbridge, where apartments cost an average of £20 million. Rather than include it on site, they built it two miles away in a former police training centre. Critics accused them of creating a “billionaire’s ghetto”, but the developer promises a high-spec finish. The development, which includes 56 flats and houses for rent, is five minutes’ walk from Victoria.
“Affordability” doesn’t come cheap, however housing associations consider only those buyers with an income below £60,000. But with monthly costs in Central London hovering between £700 and £1,000, you are likely to need every penny of that.
One of the most controversial schemes, Peel House, in Pimlico, is due to be launched next month. The 14 shared-ownership flats have been created by the property developers Nick and Christian Candy.
The multimillionaire brothers were obliged to fund some affordable housing as part of the deal to build the One Hyde Park development in Knightsbridge, where apartments cost an average of £20 million. Rather than include it on site, they built it two miles away in a former police training centre. Critics accused them of creating a “billionaire’s ghetto”, but the developer promises a high-spec finish. The development, which includes 56 flats and houses for rent, is five minutes’ walk from Victoria.
Friday, 25 September 2009
Thursday, 24 September 2009
Property for Sale Shortage
Agents, particularly across London and the south-east, are struggling to find anywhere near enough stock to sell as the normal autumn bounce has failed to materialise...
Propertyfinder has reported that the number of homes on the market this autumn is at its lowest since the aftermath of 9/11.
It found that agents within the M25 currently have an average of 26.4 homes to sell, compared with 41.8 last September and 32.3 in March this year.
Rightmove said today that in the whole of London, just 10,500 new listings have been added to stock in the last month - but 13,591 have come off.
That means that for every ten properties leaving the market, just eight came on.
Propertyfinder has reported that the number of homes on the market this autumn is at its lowest since the aftermath of 9/11.
It found that agents within the M25 currently have an average of 26.4 homes to sell, compared with 41.8 last September and 32.3 in March this year.
Rightmove said today that in the whole of London, just 10,500 new listings have been added to stock in the last month - but 13,591 have come off.
That means that for every ten properties leaving the market, just eight came on.
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