Average rents near record levels, as 1 in 3 council tenants fall into arrears

iStock_000001437287_ExtraSmallRecently released figures show average rents are just £1 off a record high, whilst council tenants are struggling to cope, following the introduction of the so-called ‘bedroom tax’. The buy to let index, compiled by LSL Property Services, shows average rents rose to £743 per month during the month of August, just £1 short of a new high. Compared to July rents were 0.7% higher, but were only up 1.3% on the same time last year; well ...

Housing & Mortgage Round Up: Mortgage rates at lowest level for over two decades

Housing & mortgage round up_istockphotoA week without house price surveys, but we’ve still found plenty to report for those people who need their weekly fixed of housing and mortgage news. This week we look at low mortgage rates, a new entrant to the mortgage market and calls for the government to do more to address the shortfall in affordable housing. Mortgage rates at lowest level for two decades New data from Moneyfacts has shown that mortgage interest rates are ...

Housing & mortgage round up: Interest rates, planning rules, house prices & mortgage fees

Housing & mortgage round upA huge week for housing news saw the government unveil its latest initiative to get the housing market moving, a new report shows that mortgage fees are soaring, the Bank of England announced their latest interest rate decision and of course no week would be complete without a house price survey. Read on for all the details. Interest rates unchanged The latest Bank of England decision on interest rates went almost unreported this week, overshadowed by the Paralympics and the ...

Housing & mortgage round up: Life gets harder for first time buyers, whilst sellers reduce asking prices

Housing & mortgage round upA glut of stories this week emphasising how hard it is for would-be house buyers, especially first time buyers, to get on the housing ladder. House prices are rising faster than wages, new house building is falling and rents are rising, all making it harder for first time buyers. Whilst at the same time sellers are having to reduce asking prices by record amounts....