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House prices across the UK fell by an average of 1.3% in 2011 mortgage lender Halifax says.A drop of 0.9% in December took the average house price down to £160,063. Halifax said the property market had been surprisingly resilient in the face of falling incomes and a deteriorating economy. The lender predicted that prices would be stable [...] Home buyers will find it even harder to obtain a mortgage in the coming months the Bank of England warns.Its quarterly survey of lending activity shows that lenders are going to be even fussier about prospective customers. “Lenders expected a tightening of credit scoring criteria for granting new secured loans to households,” the Bank said. It said [...] Mortgage lending to home buyers is likely to keep on stagnating in the coming months figures from the Bank of England show.In November 2011, just 52,854 mortgage loans were agreed in principle for home buyers. Although this was 12% higher than in November 2010, the figures have barely changed for the past four months. Mortgage approvals are [...] UK house prices remained relatively unchanged in 2011 and more of the same is to be expected said the Nationwide Building Society.The building society said that the average home rose in value by 1% in 2011, but fell by 0.2% in December compared with the previous month. The economic climate was likely to lead to a [...] New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority (FSA).The regulator’s revised proposals still intend to bring in “common sense” standards that will stop home buyers borrowing more than they can afford. Lenders are being told they must assess the affordability of loans [...] Mortgage lenders have raised concerns about potential changes to the way support is given to those struggling to pay their mortgage.The government is reviewing the Support for Mortgage Interest Scheme, where homeowners who lose their jobs may receive financial help. It says the programme, which costs £400 million a year, is unsustainable. The Support for Mortgage Interest [...] The London property market has seen a huge increase in global capital flight- as it is seen by many as a safe haven during the eurozone credit crunch.On the high end of this scale of capital investment is the commercial property market. Since 2008, London has been the most traded real estate market in the world [...] First time buyers are “rarely seen”, estate agents warn with their share of the UK housing market having fallen to a three year low.Sales to those buying their first home fell from a 22% share of the market in September to a 16% share in October, figures suggest. The National Association of Estate Agents (NAEA) said [...] Mortgage lending in Scotland rose in the third quarter – but at a much lower rate than the UK as a whole, according to the latest data released by mortgage lenders.The Council of Mortgage Lenders (CML) Scotland said 12,400 loans were taken out, which was 900 more than in the previous quarter. That figure represented a [...] Economic uncertainty makes the future of the UK mortgage market “difficult to call”, a mortgage lenders’ group has said.Paul Smee, director general of the Council of Mortgage Lenders (CML), said the market for home loans was currently stable. The number of mortgages taken out for house purchases was 48,200 in September, down 2% from the month [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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