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UK house prices continued their decline in September, dropping by a further 1.3 per cent, according to the latest monthly Halifax house price index.Property has lost 12.4 per cent of its value in the past year, states the leading lender, with the average house prices falling to £172,108.In the last quarter, property prices fell by… Read more

The location of a property is the most important factor for buyers considering a new home, according to the latest research.Proximity to the countryside was top of the list, adding an estimated £35,000 to the value of a home, states the Halifax.Almost one-quarter of respondents to the bank”s study said being close to the countryside… Read more

It is too early to opt for a fixed-rate mortgage deal as the coming months will see further rate reductions, according to one industry expert.Mortgage broker John Charcoal continues to recommend tracker deals to people looking to get their foot on the property ladder because the Bank of England is expected to cut interest rates… Read more

The Association of Mortgage Intermediaries (AMI) has welcomed the Bank of England”s decision to cut interest rates a day early.According to the association, the government”s 0.5 per cent base rate reduction, coupled with plans to support the banking sector with extra funding, will provide a boost to the mortgage market.The group said the decision would… Read more

Nationwide has welcomed the government”s financial support and is happy building societies are considered in the package of measures.The mortgage lender said the Treasury”s decision to intervene in the money markets was a positive move that would stimulate long-term recovery.Nationwide claimed that while it was not under financial pressure itself, it was pleased that the… Read more

A number of banks and building societies have committed themselves to lending money to home buyers due to their participation in the Treasury”s recapitalisation scheme.Barclays, Abbey, HBOS, HSBC Bank, Lloyds TSB, the Royal Bank of Scotland, Nationwide Building Society and Standard and Chartered are among the institutions who have said they will have this funding… Read more

The government”s decision to support banks with extra funding during the economic downturn has been welcomed by the Council of Mortgage Lenders (CML).According to the CML, the move by the treasury is a step in the right direction and will provide a short-term framework for banks and building societies to raise funding and address money… Read more

British banking shares plummeted today (October 7th) as the big lenders held emergency talks with the government last night, it has been reported.The Royal Bank of Scotland saw its shares plummet by 39 per cent, while Lloyds TSB and Barclays reported a 20 and 12 per cent decrease in value.According to the BBC, the three… Read more

Pensioners taking advantage of equity release schemes should consider remortgaging their property, one expert has claimed.The equity release market is growing during the current economic downturn and people should consider changing deals to reduce their rates, according to Key Retirement Solutions.Speaking to mortgageintroducer.com, Dean Mirfin, business development director at Key Retirement Solutions, said: "The current… Read more

Properties in university towns have increased in worth up to £20,000 more than houses in nearby areas, it has been claimed.Halifax”s latest University Town House Price Review shows that buy-to-let landlords and parents who have bought in university towns have made strong returns over the past five years.In 35 of the 64 towns surveyed, houses… Read more