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Viewing entries posted in January 2018

FCA Significant numbers face interest-only shortfalls

Posted by MMB Finance Swindon and Gloucester on 28 January 2018

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The FCA has raised concerns over lender engagement rates with interest-only mortgage borrowers, warning that "that a significant number of interest-only customers may not be able to repay the capital at the end of the mortgage".

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Property transactions fell 21% in 2017

Posted by MMB Finance Swindon and Gloucester on 25 January 2018

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A total of 784,570 residential properties were sold during 2017, a 21% decrease on the 996,332 transactions recorded in 2016, according to analysis of Land Registry data. While London may have been hardest hit where price growth is concerned, it still accounts for the largest number of sales with nearly 85,000 property transactions completing in 2017. However, this is down 27% when compared to the previous year. Manchester places second where 13,416 sales completed last year, also down 24% on 2016.

Bristol (12,226), Birmingham (11,527), Nottingham (10,998), Leeds (9,497), Liverpool (9,243), Sheffield (7,596), Leicester (7,172) and Norwich (6,050) also placed in the top 10 for most transactions, proving the appetite for city living is still alive and well amongst UK buyers although again, all saw transaction levels decrease by between 20% and 23% in 2017 compared to 2016.

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Stamp Duty change to have 'little consequence': RICS

Posted by MMB Finance Swindon and Gloucester on 18 January 2018

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66% of RICS respondents anticipate the change to Stamp Duty for first-time buyers having 'little consequence', according to the December market survey. In London, 48% envisaged not much response, with 28% saying the changes will increase overall market activity, higher than the average of 12%.

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20% of landlords to sell up in 2018

Posted by MMB Finance Swindon and Gloucester on 12 January 2018

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Research from the National Landlords Association shows that 20% of its members plan to reduce the number of properties in their portfolio in the next year – the highest level of intended property sales in 10 years.

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UK house prices falling says Halifax

Posted by MMB Finance Swindon and Gloucester on 9 January 2018

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UK house prices fell unexpectedly in December, their first fall in six months, according to Halifax. The average price of a home fell by 0.6% to £225,021 in December, the mortgage lender said. The annual growth rate declined to 2.7% in the three months to December from 3.9% in the previous three months.

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