Vince Cable hints at tax rise for high value homes

Business Secretary Vince Cable has said tax on high value properties may have to rise – if the 50p tax rate is axed.
Nick Clegg told the Financial Times it would not be a return to the Lib Dem “mansion tax” policy but could include looking at council tax or stamp duty.

Chancellor George Osborne said in [...]

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Windmill farms to add £20,000 to communities a year

Local communities in England which agree to host a windmill farm will receive payments from the government.
Renewable UK, the renewable energy trade association, will launch a “wind energy industry guarantee” that will average £20,000 per year per project.

With the average life of a windmill farm estimated at 20 years, this could add up to [...]

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First time house buyers face big bills to start on the property ladder

Many first time buyers must save the equivalent of more than a year’s salary to be able to afford a deposit for a home, the Council of Mortgage Lenders (CML) have warned.
The typical deposit stood at £12,700 at the start of 2007, but rose to £31,500 by the second half of 2010.

The figures were released [...]

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Re-mortgager house price predictions for UK property prices in 2011

With unemployment growing and government cutbacks in the pipeline will UK house prices plummet?Maybe not- with two factors stopping sales and prices falling more sharply.

One has been the Bank of England’s determination to keep interest rates as low as possible, for as long as possible.

And the other has been the lower than expected rise in [...]

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Homes at risk of repossession with debts as small as £600 OFT warns

Some people are being forced to put their homes at risk because of debts of as little as £600, the Office of Fair Trading (OFT) has found.
The regulator is clamping down on lenders who tell customers to pledge their homes against unsecured debts.

Four providers have been ordered to “address concerns” about the way some consumer [...]

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Home owners resist re-mortgaging and raising new credit

Major banks have offered more evidence of a subdued mortgage market in the UK with budget uncertainties also keeping other lending low.
This reluctance to borrow is also seen in the British Bankers Association’s figures for unsecured credit.

Repayment of credit card debt is narrowly outstripping the amount of new borrowing. The only reason that credit card [...]

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RBS raises profit margins on mortgages

Royal Bank of Scotland (RBS) has been accused of making customers pay above average rates on their mortgages despite the nationalised banking group reporting profits.
The bank took billions of pounds in Government support during the credit crisis, but has since recovered to make a net profit of £9 million for the first six months of [...]

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House prices rise just 0.1% as demand stops

House prices edged ahead by just 0.1% during June as demand from potential buyers stalled, research indicated today.Estate agents in England and Wales reported only a 0.1% rise in new buyer registrations during the month, with falls in demand recorded in six out of 10 regions, according to property intelligence group Hometrack.

But the number of [...]

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House prices inflation up 8.5% in England and Wales

House prices in England and Wales are continuing to rise strongly, according to the latest figures issued by the Land Registry.Prices in April rose by another 0.2%, pushing up the annual rate of increase to 8.5%.  This was the fastest rate of growth since September 2007.

Meanwhile, the number of mortgage deals on offer has risen [...]

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Household wealth in the UK has risen five fold over the past 50 years

The total worth of UK households’ property, savings and investments, was £6.3 trillion at the end of 2009.

It gives an average value per household of £237,000, three times the £73,000 in 1959 (at today’s prices).

The difference between household wealth and value per household is due to the rise in the number of homes since then.

There [...]

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