Wednesday 24 November 2010

Nationwide says house prices to fall and interest rates to remain at 0.5%


The Nationwide's latest prediction is that house prices will continue their steady fall and that UK bank base rate will remain at 0.5% until late 2011.

They claim that house prices have fallen by 3% since June and are now just slightly higher than they were a year ago. Their Chief Executive Graham Beale said "In the housing market, conditions have weakened noticeably over the last six months, with both a decline in buyer demand and a modest downward trend in house prices".

There was no indication that the Nationwide would be offering any exciting new products designed to help the housing market.

For more information please click here Nationwide's latest report

Friday 12 November 2010

Landlord Centre responds to the latest buy-to-let figures published by the Council of Mortgage Lenders


Our business partners Landlord Centre respond to the latest buy-to-let figures published by the Council of Mortgage Lenders

Andy Young, chief executive at Landlord Centre, the online buy-to-let mortgage specialist, says:
'The latest figures published by the Council of Mortgage Lenders (CML) offer good news to landlords, and provide substance to a number of positive developments recently reported in the buy-to-let mortgage market. For example, new and established lenders have entered the market providing more products, increasing competition and better choice for property investors.

'The CML has reported a 33% increase in the value of buy-to-let lending compared with the same period last year and a similar trend in loan size was reported in Landlord Centre's latest Property Investor Profile for Q3 2010. The increase in mortgage value is likely to be a reflection of the gradual recovery of property prices and the availability of some higher loan-to-value buy-to-let mortgages.

'For over two years the buy-to-let mortgage market has been very subdued and these latest results are most welcome. However, there is still a way to go before the buy-to-let mortgage market returns to a reasonable level. The lack of finance available is still a big constraint for landlords and a considerably larger supply of funding is needed to satisfy the demand. This is also important in order for landlords to provide the level of decent rental accommodation required to meet the increasing tenant demand.'

For more information on Buy to Let Mortgages through NetRent.co.uk please click here