I need help with my mortgage. Where's their nearest branch?

Independent: 'Bank of mum and dad' finances 25% of UK mortgage payments in 2016

Parents will lend over £5 billion this year, providing deposits for over 300,000 mortgages and purchasing homes worth £77 billion The research shows that three-quarters of family-funded house purchases are funding by parents, with family friends and grandparents also making up the difference. Get your begging bowls out.

Posted by tom101 @ 11:58 AM 0 Comments

Monday, May 2, 2016

What do you mean, 'next'?

Telegraph: Is a buy-to-let bubble the next scandal in housing?

15pc of all mortgages now go to BTL landlords, compared to 8.5pc in 2007, before the last crash. BTL loans account for almost all the current growth in the mortgage market, with lenders planning to expand their BTL lending by 20pc per annum over the next two years. Lending standards are slipping. British banks have over £215bn of BTL loans on their books, compared to £146bn in 2009.

Posted by little professor @ 09:30 AM 1 Comments

Sunday, May 1, 2016

The analysis HP referenced... Sauce for Bears??

LonRes.com: Great Expectations The gap between asking and achieved prices Lonres.market.briefing. 12 April 2016

This is the 10% which the Tgraph was referring to. Is not a 10% fall but actually the report refers to what percentage of properties have had their asking prices REDUCED by 10%+. "Analysis of quarterly sales in prime central London shows almost half (49%) of properties sold in Q1 2016 had their asking price reduced before a sale was agreed. This is higher than the 40% of properties sold in Q1 2015 and 27% two years ago in Q1 2014. The lettings market has also seen an increase in price reductions, from 32% a year ago to 45% in Q1 2016." But aren't ALL rents increasing?? "and a fall in the number of overseas buyers are all impacting the prime central London market." Eh? A But the number of overseas b uyers are increasing .... surely? Q: Where the smart money goes does the rest follow?

Posted by techieman @ 10:20 AM 8 Comments

"London has fallen"? - sorry Mr. Butler

Henry P: Housing market on the edge?

99% of what you read in the papers about the housing market, .... is put out by people with something to sell. Estate agents, [lenders] – all know about the market because they are selling houses,.... mortgages or financial services but they must be optimistic or they lose business. No one will instruct a depressed estate agent...so these commentators MUST have a glass that is half full. As you can see from the graphs below, what we can see is that half of all homes sold in the first quarter of 2016 sold in London went for more than 10% below the guide price. Not just in some parts but across central London and across price bands! 60% of the property that did sell in Knightsbridge and Belgravia had it’s guide price reduced prior to selling. The market is on the turn. Aha - the 10%!!

Posted by techieman @ 10:08 AM 3 Comments

Friday, Apr 29, 2016

Angry tenants across London have been taking to social media to share their renting horror stories

Daily Mail: Furious-tenants-share-housing-horror-stories-ventyourrent-hashtag-sweeps-Twitter

Those nasty landlords!

Posted by tom101 @ 03:42 PM 0 Comments

Slowing down

Telegraph: House prices fall almost everywhere as property market takes on 'uncomfortable' feel

"The infection from luxury to mainstream is much more transferable than anyone imagines, and these are the reasons why I am troubled by the Land Registry figures," A troubled Henry Pryor The Land Registry data also revealed a fall in the number of completed house sales in England and Wales in January fell by 5pc to 54,254 compared with 56,937 in January 2015. This dispels reports that there was a rush to buy a second home or a buy-to-property ahead of April - when the Chancellor introduced a 3pc increase in stamp duty on these two buyer tribes.

Posted by tom101 @ 11:46 AM 7 Comments

Wednesday, Apr 27, 2016

Housing lunacy cont....

Business Insider: Britain is crashing into the end of the homeownership era

The average price to buy a house in Britain now stands at £291,504, according to the Office for National Statistics. Meanwhile, the average London property price is at a huge £551,000

Posted by tom101 @ 02:39 PM 8 Comments

Monday, Apr 25, 2016

New figures show house price rises are slowing in London, and rising faster in surrounding regions

Rightmove Houseprice Index: UK house prices:the East and South-East regions are both growing faster than London for the first time this year

Greenwich 21% - Hounslow 15.7% - East of England 10.8% - Enfield 10.6% - South East England 9.4%.

Posted by libertas @ 10:13 PM 1 Comments

Sunday, Apr 24, 2016

NIRP is the new normal

Telegraph: Interest rates could go negative, says Bank of England rate setter

They could go "a little bit negative” he said. And then, once the camel's snout is under the tent, well, you know what happens next. And they said they had no room for monetary policy with the next downturn?!

Posted by libertas @ 09:38 PM 11 Comments

Keeping an eye on the Blairs

Mirror: How Tony Blair's family have built a buy-to-let property empire in Manchester

In one city they have twenty eight one bedroomed flats in Stockport, Whalley Range & Urmston grouped in five sites. Simple rule of thumb appears to be 1 bed less than 100k with receiverships/repossessions being a bulk buying favourite.

Posted by enuii @ 04:23 PM 0 Comments

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