Mortgage lending recovers to highest in over a year

The number of mortgages lent for house purchase rose 7% in August from the month before, to reach 52,000. The figure was up 2% on August the year before, the Council of Mortgage Lenders said. The number of loans to first-time buyers rose 5% both from July and August last year, with 19,000 loans taken more

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Mortgage approvals hit 20-month high

The number of new mortgages approved, but not yet lent, for home buyers in August rose to its highest level since December 2009. The Bank of England said 52,410 mortgages were approved last month. That was nearly three thousand more than in July, and the highest number since December 2009. The figures suggest that a more

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Why your child won´t leave home

Like in Europe, young British people are living at home longer. The average age of a first time buyer has now increased to a staggering 38 years old, nearly half the age of life expectancy (80 years old in the UK*). With historical increases in house prices over the last couple of decades and a more

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No Deposit? No problem!

The first 100% mortgage since the credit crunch has been launched, but you may ask what is the catch? Well it´s called the Family Guarentee Mortgage launched by the Aldemore Bank and requires a relative to guarentee any borrowing above £75%. The deal is open to first time buyers and has an interest rate of more

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Europe still proves popular to buy

Despite price falls in Europe ranging from 10 per cent in France to 50 per cent in Spain, the number of Britons buying abroad has actually increased during the economic downturn. In 2006, some 385,000 Britons owned holiday homes overseas, but that figure rose to a record high of 430,000 in 2010, according to research more

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National Planning Policy Framework (NPPF)

The government´s proposals to radically overhaul England´s planning system has ran into opposition by campaigners. Specifically, there has been an outcry over ending the policy of building on brownfield sites before touching undeveloped countryside. Critics believe the NPPF is heavily skewed in favour of economic development over social and environmental concerns. But this was dismissed more

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Summer lift in mortgage lending

UK mortgage lending rose by 6% in August compared with July, although seasonal factors were key to the rise, lenders have said. Gross mortgage lending stood at £13.4bn in August, a 10% increase compared with the same month a year ago, the Council of Mortgage Lenders (CML) said. This was the highest monthly total since more

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UK housing market shows improvement

UK house prices increased further in August, buoyed by a 1.6% rise in London, according to the latest figures from LSL Property Services. Transactions up were 1.5%, bucking the seasonal trend, while the sale of flats is now 80% below market peak. LSL Property Services director David Newnes said: "The property market bounced back this more

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Property sales lower than a year ago, say HMRC

HMRC has reported that just 66,000 homes were sold in April, 1,000 fewer than in March and 6,000 fewer than in April last year. Sales in the first four months of the year have been 5% lower than in the same period of 2010. The figures suggest that with the continued rationing of mortgages and more

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Record Number of Claims Against Estate Agents

Christopher Hamer (Property Ombudsman) has publicly announced a record number of claims against property professionals in 2010. He received over 1,300, the highest figure in 20 years and an increase of over 25% from 2008. Mr Hamer has stated that if a complaint is justified he can make a payment of up to £25,000. Due more

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