Rental costs see first fall in 10 months LSL finds

The cost of renting a home in England and Wales fell for the first time in 10 months in November, a survey has found.Rent at a typical property dropped by 0.4% compared with October, to £717 a month, LSL Property Services said.

However, a tenant still typically paid 3.5% – or £25 – more in rent [...]

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Eurozone crisis may affect mortgages brokers warn

Mortgage interest rates could start to rise again as a result of the turmoil in the eurozone brokers are warning.Some lenders, including Woolwich, Halifax and Santander, have pushed up their tracker rates for new borrowers.

This increase follows a rise in the rate at which banks lend to each other – Libor – which has been [...]

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Private sector rents at new high in England and Wales

Average private sector housing rents in England and Wales rose by another 0.7% last month, to hit a new monthly high of £718, a report has said.It means rents have risen by 4.3% in the past 12 months, with tenants paying an average £29 a month more than they were a year ago.

The figures were [...]

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Flat owners service charge complaints up 46% among leaseholders

Flat owners’ complaints about service charges have risen by 46% in two years to 7,600, figures show.They queried the amount they were being asked to pay for maintenance and repairs, the Leasehold Advisory Service for England and Wales said.

In some cases flat-owners have been asked for payments of tens of thousands of pounds by those [...]

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Rents rising at fastest rate for a year

The cost of renting a home is rising at its fastest rate in a year – with the average tenant paying £713 a month, a new survey has announced.Tenants paid 1.2% more on average to rent a property in the UK in August than they did in July, according to LSL Property Services.

The cost rose [...]

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Buy to let recovery claims mortgage lenders

Demand for buy to let mortgages continues to grow boosting UK property market.The Council of Mortgage Lenders(CML)  has said the number of buy-to-let mortgages rose by 29,000 in the second quarter of the year, to 1,342,200.

They now account for 12.4% of all mortgages, the highest proportion on record since the buy-to-let market took off at [...]

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Gazumping pushing up rent costs for tenants

Gazumping is pushing up rents in England and Wales as the average cost to tenants reached £696 in May according to new research.
Rising tenant demand has led to some potential renters offering above the asking price to rent a home.

The average cost of renting a home has risen for four consecutive months the analysis suggested.

But [...]

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House repossessions to rise in 2012 mortgage lenders warns

House repossessions are likely to rise again next year the Council of Mortgage lenders (CML) has warned.
In its updated outlook for the property market, it says repossessions will probably rise from 40,000 this year to 45,000 in 2012.

Mortgage rationing which has depressed UK property sales will stay in force until at least the end of [...]

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Costs of buying a seaside home has more than doubled

The cost of owning a home by the sea has more that doubled over the past decade the Halifax bank has found.
It also found that property prices in seven out of 10 seaside towns in England and Wales have seen greater increases than the national average since 2001.

Wadebridge in Cornwall, a few miles inland from [...]

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New scheme launched to protect home renters

A new project has been launched as the number of complaints against estate agents was described as “unacceptably” high by the Property Ombudsman, despite inactivity in the housing market.
Christopher Hamer said he had dealt with 1,338 new cases last year. This was a record number during the scheme’s 20-year existence.

Among the cases, which reach the [...]

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