House prices in the UK are up 3.9% for the year and homeowners are biased toward fixed rate mortgages ahead of an interest rate rise.
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Monthly Archives: October 2015
House prices in the capital have reached a new high in September and is likely to exceed half a million next month according to the Land Registry.
As house prices rise Lenders have reintroduced interest only mortgages accessed only by wealthy homeowners with large amounts of equity.
Sales of £1m plus properties are on average 11% in the first half of this year with London leading the fall according to data from Lloyds Bank.
IMLA has said the end of higher rate tax relief for buy-to-let landlords will limit the supply of rented properties and increase the rents for tenants.
House purchase loans were 9% lower for the month of August according to the CML as remortgage buyers reducing by the largest amount.