Housing & mortgage round up: Life still tough for first time buyers, whilst mortgage lending falls

Housing & mortgage round upA number of stories this week confirm just how tough life is for would-be first time buyers wanting to get onto the housing ladder. Rents are rising, so too is the number of people getting into arrears and the amount of deposit required to secure a mortgage is simply unaffordable for many; read on to learn more. Also this week, mortgage lending has fallen again, and is now significantly below the levels of this time last ...

Housing: House prices rise in May

The latest house prices survey, this time from the Land Registry, has shown that house prices rose in May by 0.5%. May’s increase takes the annual rise to 0.4% according to the Land Registry, which is often seen as the most accurate of all house price surveys. The average home in England & Wales is now worth £161,677. Regional differences The latest figures from the Land Registry reveal marked regional differences with London seeing a sharp rise in house prices over the past year, whilst six areas saw falls. The table (below) shows how your region fared during the past year. Region Annual ...

Housing round up: Two surveys show house prices fall whilst Standard Variable Rates rise

Housing & mortgage round upA packed housing round up this week. Firstly, two surveys indicate house prices have fallen over the past couple of months and continue to do so year on year. Secondly, the mortgage market looks as though it will continue to get harder for borrowers who want an Interest Only mortgage after the announcement by the Co-operative Bank that they are pulling out of this type of lending. Finally, over one million borrowers have seen their mortgage payments ...