The number of Buy To Let property investors is to double over the next three years, a recent report suggests.
Market research analysts, Mintel as discussed on BBC.co.uk, believe that around 3% of homeowners are thinking of purchasing a second property to let to tenants by the year 2010 which would double the existing number of investors in the market.
Concerns are growing that first time buyers are going to be under increasing pressure to get on to the property ladder and for many, this may already seem an impossible task. The buy to let market may actually be beginning to fuel itself as more and more second properties are snapped up for rental purposes, forcing too many people to chase too few properties which inevitably forces housing prices up and more people into rented accommodation.
On a brighter note, the government are looking at housing schemes aimed specifically at first time buyers and those involved in essential services industries. We can expect more to come over the next few terms of office.
To apply for a mortgage or for more information, hints, tips and money saving help, visit FeelGoodLoans.co.uk
What men really mean when they say...
"I'M GOING FISHING"
Means: "I'm going to drink myself dangerously stupid, and stand by a stream with a stick in my hand, while the fish swim by in complete safety."
Showing posts with label first time buyers. Show all posts
Showing posts with label first time buyers. Show all posts
Thursday, 26 April 2007
Wednesday, 25 April 2007
Mortgages Down As Rates Go Up
Recent hikes in interest rates may be starting to slow the mortgage market according to the British Bankers Association.
Mortgage lending in March 07 fell to their lowest level for twelve months. Net mortgage lending rose by only £5.1bn for the month which is below the yearly average of £5.5bn.
The Building Societies Association released similar figures and whilst ther is no suggestion of concerns with regards to the economy as a whole, financial experts widely welcome the news. There was a suggestion that the housing market had been overheating which had been seen before to have serious consequences for the British economy. This latest news is no real surprise following three rate increases since last year although many analysts suggest further rate increases may take place through the course of 07.
If you're looking for a mortgage or a remortgage, looking to switch to a fixed rate or even just for more articles, hints, tips and information, visit FeelGoodLoans.co.uk
You're really broke when...
McDonalds supplies you with all your kitchen condiments!
Mortgage lending in March 07 fell to their lowest level for twelve months. Net mortgage lending rose by only £5.1bn for the month which is below the yearly average of £5.5bn.
The Building Societies Association released similar figures and whilst ther is no suggestion of concerns with regards to the economy as a whole, financial experts widely welcome the news. There was a suggestion that the housing market had been overheating which had been seen before to have serious consequences for the British economy. This latest news is no real surprise following three rate increases since last year although many analysts suggest further rate increases may take place through the course of 07.
If you're looking for a mortgage or a remortgage, looking to switch to a fixed rate or even just for more articles, hints, tips and information, visit FeelGoodLoans.co.uk
You're really broke when...
McDonalds supplies you with all your kitchen condiments!
Monday, 23 April 2007
Town Houses Rise To £100k
For the first time, the average house price in every town in the UK has risen to £100k, according to the latest housing survey conducted by The Halifax.
At £104,738 (average price of town house), Lochgelly in Fife is officially the cheapest town in Britain, though this is still someway short of the average for the whole of the UK which surpassed £100k for the first time in February of this year.
With London house prices rising around 14.6% over the past year, this considerably exceeds rises elsewhere in the country: the north-east for instance, rising only 5.6% over the same period.
It has been widely reported that the general conscensus of the mortgage industry believes that a further interest rate rise is inevitable in May to stave off further significant rises. It is extremely important to keep inflation and the property market stable if we are to avoid the 'boom and bust' scenario of the 1980's and 1990's.
Many people are turning to fixed rate mortgages in an attempt to avoid future rate rises as the mortgage is still and by some considerable margin for many, the largest single monthly expense.
You know you're broke when...
You can't afford to pay attention!
Visit FeelGoodLoans.co.uk for more finance articles, hints and tips.
At £104,738 (average price of town house), Lochgelly in Fife is officially the cheapest town in Britain, though this is still someway short of the average for the whole of the UK which surpassed £100k for the first time in February of this year.
With London house prices rising around 14.6% over the past year, this considerably exceeds rises elsewhere in the country: the north-east for instance, rising only 5.6% over the same period.
It has been widely reported that the general conscensus of the mortgage industry believes that a further interest rate rise is inevitable in May to stave off further significant rises. It is extremely important to keep inflation and the property market stable if we are to avoid the 'boom and bust' scenario of the 1980's and 1990's.
Many people are turning to fixed rate mortgages in an attempt to avoid future rate rises as the mortgage is still and by some considerable margin for many, the largest single monthly expense.
You know you're broke when...
You can't afford to pay attention!
Visit FeelGoodLoans.co.uk for more finance articles, hints and tips.
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