News Archive
April 15th 2008: House Prices are falling at their fastest rate since records began in 1978, according to the Royal Institution of Chartered Surveyors. This comes as Gordon Brown is meeting the Bosses of Britain's largest lenders this morning to discuss the global economy.
April 10th 2008: As well as today's cut in interest rates, the government has announced extra help for first time buyers under the Open Market Homebuy scheme - This is the scheme that applies to key workers. However, the assistance is only £1,500 to help with costs such as legal fees and the Liberal Democrats dismissed it as "tokenism of the worst kind."
April 6th 2008: (Reuters) Following a recent survey on lenders by The Bank of England, interest rates may be cut as soon as next week. Lenders are growing increasingly nervous over the economic outlook.
April 2nd 2008: (REUTERS) House prices fell for the 5th consecutive month in March, according to Nationwide (Britain's second largest lender). This is likely to deliver another hit to the economy and it shows that the UK is following the US as it slips into recession. Meanwhile, lenders are competing not to lend their money by raising their rates - another blow against first time buyers.
March 28th 2008: (PRWEB) Nearly half of Britons (44%) would be willing to move abroad in order to get their foot on the property ladder, new research from fairinvestment.co.uk has revealed - that's nearly twice as many people when compared to last year.
HSBC has revealed that Britain is the third most expensive country to live in.
March 25th 2008: First time buyers now have to find larger deposits as lenders withdraw the best mortgage deals. Lenders are worried about taking on risk during what could be the start of a recession. Some deals offered by big banks require a 40% deposit - that is a deposit of over £80,000 on the average house.
Video reporting how credit concerns could lead to a deeper downturn in the UK property market:
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Website founded by Tim Ballard. First House Page.com trades under the name of Tim Ballard.
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