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John's Blog -
Newswire
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Written by John S
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Wednesday, 22 July 2009 14:18 |
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 At the very least, it’s been a great week for bold statements from politicians.
The shadow chancellor George Osbourne has said he’s going to scrap the Financial Services Authority if the Conservatives get into power and the Lib Dem treasury spokesman, Vince Cable, is calling for the break-up of the new Lloyds Banking Group. So no messing about then, all change next year by the sounds of it. As you can imagine, this hardly helps to add stability to the mortgage market; after all, if you ran the Lloyds Group you’d probably be looking over your shoulder for the next 18 months whilst making your lending decisions. |
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Read more... [Politics to shake up the industry?]
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John's Blog -
Newswire
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Written by John S
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Wednesday, 15 July 2009 14:17 |
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 No change again in this month’s bank base rate, so no surprise there. What perhaps is a little surprising is that the NAEA have reported that the average estate agent continued to make strong sales. Despite there being less properties available resulting in slightly fewer people searching for a new home than in May.
Agents also reported that buyers are increasingly prepared to pay what a seller asks for a property - after the difference between asking and selling prices shrank to just 1.9% - down from a 6.3% difference in June. This seems a bit of an anomaly, as it appears that despite the market being low, lack of demand tends to push prices up! This is highlighted by RICS who stated yesterday that house prices are forecast to rise for the first time since before the credit crunch hit. |
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Read more... [Property Market Statistics Continue]
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John's Blog -
Newswire
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Written by John S
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Wednesday, 01 July 2009 11:51 |
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 There has been one good news story this week for those looking for some more sunshine in their lives.
Nationwide published figures that show the average price of property rose by a (seasonally adjusted) 0.9%. The three month trend is now positive for the first time since December 2007 In fact, one of our local estate agents said to me this morning that the “credit crunch” was over for him, but then again if you are looking for optimism then that’s the best place to start. |
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Read more... [Sunshine lifts the property market....only slightly!]
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John's Blog -
Newswire
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Written by John S
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Thursday, 09 July 2009 16:18 |
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 Well no change again in this month’s bank base rate, and no surprise there. But one of the big questions at the moment is, are whether property prices are going up or going down? It seems almost pointless reporting it sometimes. Last week, Nationwide said prices were up 0.9% and this week Halifax reported price falls of 0.5%.
I'm not sure if anyone knows completely why the two indexes are different, however there is some definite common ground. The shared view is that even though we may not be quite at the bottom of the market, prices are more stable and that gives increased confidence that the worst may be over. |
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Read more... [Differing Points of View]
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John's Blog -
Newswire
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Written by John S
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Wednesday, 24 June 2009 13:00 |
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 Following on from last weeks news (that the ex-lender Advantage Homeloans are offering to write-off some of their loans to many of their clients if they redeem their mortgages with them), the picture is getting clearer each day.
In our office the biggest discount currently being offered to an investor so far (in monetary terms) is £87,500 – yes, that’s right they were given £87,500 to redeem their mortgage! The current pay rate on this particular deal is… wait for it… 0% - so no wonder the lender wants to get rid of them. |
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Read more... [Taking advantage of one lenders discount]
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