• Mortgages & home

    House prices dipped at the start of 2018 but are up 4.9% on last year as property surges in remote corners of the UK

    House prices dipped 0.3 per cent in January compared to the previous month, official figures revealed today.The typical property price across Britain was £225,620 at the start of the year, which means the annual rate of property inflation stood at 4.9 per cent, according to the data the Office for National Statistics and Land Registry.The index – which lags a month behind others – shows this is down slightly from the five per cent recorded in December. Isolated: Pockets of relative island isolation have seen property prices surge in the last 12 months. Pictured, homes in Argyll and ButeFurthermore, the ...

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  • Mortgages & home

    Want a home for under £100k? Only one spot in Britain now has properties averaging below a six-figure sum...

    Only one local authority area in the whole of England and Wales is yet to see average property prices pass the £100,000 mark, analysis claims.Blaenau Gwent in South Wales now stands alone out of the 348 local authorities, with Burnley having finally seen the average price of flat and house sales tip over the £100,000 line last year, according to property group Savills.The average property sale price in Blaenau Gwent in 2017 was £97,147, Savills said. Bargain prices: Properties in Blaenau Gwent still average below £100k. Pictured, homes in London, where all local authorities saw homes pass this mark in ...

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  • Mortgages & home

    House prices in London see their biggest decline since 2009 - but prices in Blackburn rise by 16.4%

    The cost of homes in the North West, South West and Wales have swelled by over three per cent in the last year.Honing down the locations of the biggest house price climbers, Blackburn has seen prices rise over 16 per cent in the last 12 months.At the other end of the spectrum, the London housing market, known for its high prices, saw prices fall by 2.6 per cent in the last year.The annual decline of prices in London is the biggest since August 2009. Average house prices by region in January 2018 with monthly and annual percentage growthTaking all regions ...

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  • Mortgages & home

    House prices caught a chill in February as they fell £1,350 in the first monthly drop for six months

    House prices fell by £1,354 in February, dipping for the first time since August last year, Nationwide's latest figures show.The average price of a UK home fell by 0.3 per cent to £210,402 last month, reversing the unexpected 0.8 per cent monthly rise registered in January and December’s 0.5 per cent increase.Nationwide, Britain's biggest building society, said that although monthly figures can be volatile, the slowdown was consistent with signs of a softening property market and falling consumer confidence in recent months.The report also highlighted how years of steep house price rises mean that property has come to make up ...

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  • Mortgages & home

    New property hotspots revealed: Birmingham, Edinburgh and Manchester predicted to see prices rises up to 30% within four years

    Property prices in some of Britain's biggest cities - excluding London - will increase by up to 30 per cent in the next four years, a new report predicts.Birmingham, Edinburgh and Manchester are likely to see the biggest value leaps to close the gap slightly on London, which has begun to see prices soften.Since 2009, average property values in the capital have accelerated 86 per cent in nominal terms, according to the latest Hometrack UK Cities index. Booming: Property prices in Edinburgh are predicted to rise by up to 30% in the next four yearsCambridge and Oxford have performed like ...

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  • Mortgages & home

    Optimistic sellers raise asking prices by more than £2,400 in a month - but it's taking longer to sell homes

    The average asking price for a property in the UK kept creeping up this month and more sellers have put their properties on the market, figures from a leading property website suggest.However, Rightmove added that it’s taking longer to sell homes.February’s monthly rise of 0.8 per cent means the average house asking price across the UK rose by £2,414 in just a month to just over £300,000. Compared to last year, prices rose by 1.5 per cent, up from a 1.1 per cent increase seen in January.Rightmove said the figures suggested the market remained resilient, although this rate of growth ...

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  • Mortgages & home

    Skipton launches a seven-year fixed rate mortgage at just 2.99% - and you'll only need a 10% deposit

    Skipton Building Society has launched a fee-free seven-year fixed rate mortgage for those with a 10 per cent deposit at a rate of just 2.99 per cent. The stonkingly low rate is part of a refresh from the lender, which has also sliced rates on its two-year residential tracker mortgages and three-year purchase and remortgage fixes.The new residential trackers - available for both purchases and remortgages - include a 1.43 per cent rate for those with a 25 per cent deposit or equity and a 1.97 per cent rate for borrowers with a 10 per cent deposit or equity. Both deals ...

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  • Mortgages & home

    House prices inch lower for a second month but the property market is still 2.2% up on last year

    The average UK house price has fallen for the second consecutive month and annual growth has slowed as the property market continues to run out of steam, data suggested today.The average home fell by 0.6 per cent in January compared to the previous month, a slightly smaller drop than December's rate of 0.8 per cent.However, on an annual basis the property market is still rising: the average house price rose by just £4,068 in the year to January to £223,285, or an increase of 2.2 per cent, according to mortgage provider Halifax.  Slowdown: House prices fell again in January, according ...

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  • Mortgages & home

    Mortgage lenders accused of duping borrowers with best buy rates that cost more than fee-free deals

    Borrowers have been warned once more to check the true cost of their new mortgage deal rates that top the best buy tables are 'misleading'.Trussle, an online mortgage broker, looked at the top ten cheapest mortgage rates and compared the overall cost of the deal including the fee.It found that while Santander topped the table for the lowest rate - a two-year fix at 1.09 per cent - it dropped to 21st place for the average mortgage amount when deals were ranked by their true cost and the deal's £1,499 fee was taken into account. Just 44 per cent of ...

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  • Mortgages & home

    House prices start the year with a surprise jump, as property inflation hits a 10-month high of 3.2%

    House prices across Britain increased by 3.2 per cent over the past year, to hit a new record high of £211,756, Nationwide's latest House Price Index revealed today.Robert Gardner, Nationwide's chief economist, described the growth as a 'little surprising' given sluggish consumer spending habits and lower mortgage approval rates.The unexpected rise in annual property inflation comes against a backdrop of the property market slowing. However, the overall picture masks a divergence between sluggish areas in London and the commuter belt and greater activity in the Midlands and North. On the up: UK house prices have risen by 3.2 per cent ...

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  • Mortgages & home

    It's a buyer's property market down south as sellers accept offers of up to 10% less than asking price

    A decrease in demand has widened the gap between asking and achieved home prices in London and other southern cities in the UK, new data shows.Listing prices across London have experienced increased levels of discounting, averaging now at 4 per cent compared to 0.5 per cent in 2014. Discounts of up to 10 per cent were registered in inner London, where property price falls are occurring.This means that the British capital is increasingly becoming a buyer's market despite its weak 1.8 per cent growth rate, according to property market analysts at Hometrack. House price forecasts for 2018 are generally subdued, with ...

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  • Mortgages & home

    The cities where rental costs eat up the most of workers' incomes revealed: Hull residents spend the least and Londoners a third on rent

    If you had to name the place in the UK where it was most expensive to rent a property and where you would earn the highest monthly salary, London would be a pretty good guess.But how about the city in the UK where you would end up with the highest monthly income after rent has been paid, would it still be London or somewhere else?New research has shown that tenants living in London spend the highest percentage of their salaries on rent - an average of 37.08 each month.This is the highest across 17 of the UK's major cities while ...

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  • Mortgages & home

    First-time buyers see biggest rise in asking prices as stamp duty exemption boosts demand for small homes

    First-time buyers have seen the biggest rise in asking prices as the resent stamp duty exemption contributed to boost demand and push values higher, new analysis suggests.Two-bedroom or smaller homes, the typical target of first-time buyers, have seen monthly asking prices rise 1.1 per cent – ahead of second-stepper properties at 0.4 per cent and top-of-the-ladder homes at 0.8 per cent, according to research by online estate agent Rightmove.The average asking price for a first-time buyer rose by over £2,098 between December and January to hit £188,024. Regional trends: Greater London was the only region to see an annual decline ...

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  • Mortgages & home

    Another Lifetime Isa launches bringing the grand total to just five: But is it worth opening? We take a look

    The Government kicked off Lifetime Isas in April last year but just five providers have since launched a deal - so is the Lifetime savings account a flop or should you open one?The Lifetime Isa allows you to save up to £4,000 a year if you're aged between 18 and 39 until you reach the age of 50. Every year, the Government will boost whatever you put in by a whopping 25 per cent, up to a maximum of £1,000 for free every 12 months.There are several catches, the biggest of which is that in order to qualify for the bonus ...

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  • Mortgages & home

    Mortgage lenders start the year with a flurry of rate cuts - and Barclays slashes its two-year fix to 1.28%

    Mortgage lenders have opened the year with a flurry of rate cuts, with borrowers now able to secure a two-year fixed rate from as low as 1.28 per cent. Barclays, Yorkshire Building Society and Leeds Building Society have all launched new mortgage ranges this week with the 1.28 per cent two-year fixed rate from Barclays hitting top spot in the best buy tables. The deal is available only to those purchasing a property and who have a 50 per cent deposit to put in. A £999 fee is also payable. On a £100,000 mortgage over a 25-year term this would see you ...

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