- Lowest number of Mortgage Approvals since records began.
- In a breaking report from the Bank of England only 64,000 mortgages were approved last month.
- Tue 29th Apr 2008
- Are the Banks getting greedy?
- In a test case in the High Court today, 8 UK Banks may be deemed to have be charging their customers unfairly.
- Thu 24th Apr 2008
- Comparison websites under the hot spotlight.
- The centre for competition policy has produced a report saying independent checks need to be made of comparison websites.
- Sat 12th Apr 2008
Let-to-buy mortgages 'becoming attractive'
Fri 21 Dec 2007 3pm
Next year should see let-to-buy mortgage deals become more popular on the UK housing market, according to a financial expert.Financial advice firm The Alan Boswell Group said that the slowdown currently affecting the country's property sector is likely to increase the appeal of let-to-buy products among British homebuyers.
This is because a let-to-buy mortgage allows the holder to purchase a new home while retaining their current house for letting purposes, thereby eliminating the need to sell one property before moving to the next.
Speaking about the benefits of such an arrangement, mortgage consultant at the firm Heidi Nuttall said: "It becomes attractive in times when the market is slow moving and I think it will become increasingly popular over the next year."
However, she also stated that not all providers will offer a let-to-buy mortgage, because "there is no proven history that the [current] property can be let".
Average UK house prices fell for a fourth successive month in November this year, according to the Royal Institution of Chartered Surveyors.
