Buy to let: Thousands of borrowers face interest rate hike

iStock_000010528981XSmallThousands of buy to let investors are facing a hike in interest rates, which will significantly increase their monthly mortgage repayments. Despite Bank of England base rate remaining at 0.5% and with no movement expected by most financial experts for at least another three years, the West Bromwich Building Society has announced an interest rate rise for buy to let investors. The move means some 6,700 buy to let investors will see their interest rate rise by 2% from 1st December onwards; ...

Halifax House Price Index: House prices on the rise

HalifaxThe latest figures from the Halifax, the UK’s largest mortgage lender, show house prices are on the rise. According to the latest Halifax House Price Index, April saw a 1.1% rise in prices, taking the value of the average home to £166,094. The figures are significantly different than those released by the Nationwide, which indicated prices actually fell by 0.10% in April. The Halifax also revealed house prices rose by 1.3% over the past quarter and by 2% during the last 12 months, ...

Housing & mortgage round up: Encouraging news for first time buyers

Housing & mortgage round upA quiet week for housing and mortgage news with no house price surveys to report. However, if you are a first time buyer then read on, there may be some light at the end of the tunnel with the average deposit needed starting to show signs of falling. Average deposits for first time buyers fall New figures have shown that the average deposit, put down by first buyers, has fallen below 20% for the first time since the height of the credit ...

Housing round up: House prices stagnate whilst mortgage levels fall

Housing & mortgage round upIn our last housing round up of 2011 we take a look at two sets of figures which show house prices are at best stagnating and possibly falling. As a result the net level of mortgage lending is also falling, according to new data from the Bank of England. Mortgage advice from Linda Wood...