The buy-to-let market is being seriously damaged by the withdrawal of specialist mortgages, the latest figures from the Council of Mortgage Lenders reveal. Yet for those who can access finance, the rewards from letting property remain strong. For story go to http://www.primelocation.com/news/troubled-times-for-buy-to-let/
Homebuyers may face limits on the size of their mortgages to prevent future house price booms, the Financial Services Authority has indicated. For story go to http://www.primelocation.com/news/preventing-house-price-booms/
There are further signs of gradually improving health in the housing market, with higher levels of buyer inquiries recorded by chartered surveyors. For story see http://www.primelocation.com/news/recovery-could-be-in-sight/
A national register of all landlords has been proposed by the Government and seems likely to be implemented as a matter of urgency. The registration could provoke widespread anger from small-scale landlords, who will resent the additional administrative obligation. For full story go to http://www.primelocation.com/news/landlords-face-registration/
Thousands of new homes could be built in London and the South East for private rental, as a result of a scheme launched by a government agency. The initiative would be a major boost for the troubled construction sector. For full story go to http://www.primelocation.com/news/boost-for-rental-sector/
A national licensing scheme for lettings agents has been launched, which could be extended to become a legal requirement. The move is intended to stamp out the exploitation of tenants, including by failing to repay deposits. For full story go to http://www.primelocation.com/news/licensed-not-to-steal/
About a million homeowners are in negative equity, a report from the Council of Mortgage Lenders estimates. The result could be a brake on the housing market not just for months ahead, but perhaps for a year or more. It is also a psychological hammer blow to homeowners’ sense of economic wellbeing. For story go …
Hopes that the housing market was recovering have been dealt a blow by news that mortgage approvals fell in March. They had increased slightly in February, but the overall trend remains a reduction in mortgage finance for home purchases and re-mortgages. For story go to http://www.primelocation.com/news/mortgage-approvals-fall-again/
The Council for Mortgage Lenders describes the Budget’s response to the crisis in the housing market as “modest”. Others are blunter and say its measures are not radical enough. Despite widespread expectations that the Budget would include concrete measures to kick-start the housing market, the reality is that they are likely to have limited affect. …
The Budget – the verdict: ‘Not enough’ say housing professionals: Primelocation Read More »
Budget measures supporting the housing market left commentators disappointed, many of whom expected more. But the extension of the stamp duty holiday and a programme to build new homes on vacant development land provided some good news. For full story see http://www.primelocation.com/news/budget-2009-provides-limited-boost-for-housing/
There are further indications that the property market has stabilised, with news that mortgage lending increased in February – though remaining at low levels. For story go to http://www.primelocation.com/news/optimism-spreads/
Homeowners are pulling at their purse strings and pulling up their metaphorical drawbridges as they stay put at home. New statistics reveal that the number of second home purchases both at home and abroad have slumped as the recession takes hold. For story go to http://www.primelocation.com/news/second-homes-become-yesterdays-dreams/