UK house prices up slightly in June official figures show

House prices rose in many areas of the UK in June compared with the previous month official government figures show.On average, prices increased by 0.6% in June compared with the previous month, the Department for Communities and Local Government (DCLG) said.

The average UK home was valued at £204,981, although prices were down 2% from a [...]

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Housing equity injection continues

Homeowners continued to inject equity into their homes at the start of 2011 – but not to the same degree as much of the previous year, figures show.Mortgage borrowers increased their financial stake in properties by £5.8 billion in the first three months of the year.

This was lower than the record-breaking £7.1 billion in the [...]

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Mortgage interest rates at lowest level for 23 years

Interest rates on new mortgage deals have fallen to their lowest level for 23 years since 1988, according to new research.
This is due to lenders finding it cheaper to raise funds in the wholesale financial markets.

This has been due to the expectation that the Bank of England is unlikely to raise its bank rate above [...]

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Mortgage advances up by 8% during April

Mortgage advances to people buying a home jumped by 8% during April but lending levels remained down on a year earlier new figures show.
Around 40,900 loans were taken out by people moving home during the month, compared with 37,900 in March, but the total was still 2% lower than in April last year, according to [...]

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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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Mortgage rescue plan missed targets finds says Audit Office

A scheme aimed at preventing people losing their homes in England proved to be below target but above budget new research finds.
The Mortgage Rescue Scheme enabled not for profit housing associations to buy a stake or all of a home and allow the residents to continue living there by renting it back.

The National Audit Office [...]

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UK construction sees slower growth in April

Growth in the UK construction industry slowed sharply in April weighed down by a contraction in housing activity, data has shown.
The Purchasing Managers’ Index (PMI) for construction fell to 56.4 in March to 53.3 in April.

The data was weaker than expected and helped send the Pound to a 13 month low against the euro.

The euro [...]

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UK mortgage lending rises to an eight month high

The number of mortgages approved for house purchase rose to an eight month high during March as activity in the property market showed signs of picking up.
A total of 31,660 loans were approved for people buying a new home, 5% more than during the previous month and the highest level since July last year, according [...]

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End of paper payment system- unless you complain

Banks are asking consumers for their views on new payment technologies that will replace cheques by the end of the decade.
The Payments Council, which oversees UK payments strategy, is seeking views for the blueprint on how cash, cards and electronic payments operate.

The consultation will also cover mobile payments, tipped to be the main replacement for [...]

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Building societies to merge

The Yorkshire Building Society has announced it is to merge with the Norwich and Peterborough Building Society.
The move will create a combined building society with three million members and 224 branches.

The Norwich and Peterborough (N&P) brand and its 46 branches will be retained for at least two years.

Yorkshire Building Society confirmed there would be no [...]

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