View more on these topics

House prices rise over 10% from 2002

The average house price in England and Wales is now £161,665 &#45 over £10% more than a year ago.

The Land Registry&#39s third quarter property price report shows that the average price has increased by 10.62% from £146,150 in 2002 to £161,665 in 2003. The report also reveals that the volume of sales has decreased by 11.44% from 328,184 in 2002 to 290,637 this year.

In Greater London, the average property price has increased by 5.40% from £248,609 in 2002 to £262,044 in 2003, while the volume of sales has fallen by 17.76% from 44,202 in 2002 to 36,353 in 2003.


Lenders reprice SVRs following rate rise

Lenders are repricing their standard variable rates in the wake of the Bank of England&#39s 0.25% interest rate rise last week. Among the first lenders to announce changes to their rates are Nationwide, which will increase its SVR by 0.35% to 4.89% from December 1 and Standard Life, which will increase its rate by 0.25% […]

Supermarkets to become force in financial services

Supermarket banking is set to become a “real force in financial services”, a report from Sainsbury&#39s Bank has revealed. Compiled by IBM Business Consulting Service, the report shows that with supermarket banks already having around 5.8 million customers, this figure could rise to 14.43 million by 2008. This would be an increase of 149% over […]

MGM unveils compliance service for ARs

MGM Assurance has launched MGM Home Finance for brokers seeking appointed representative status. The network will be free to intermediaries who pass seven or more applications through one of its four packaging partners, or £50 per month to those who submit less. MGM will use Optima Mortgage Solutions and Mortgage Intelligence&#39s lender panels for prime […]

Opus to relaunch its B2L income guarantee plan

Opus Mortgages is to relaunch its commercial mortgage income protection plan Bond 2 Let. Backed by igroup, the product ensures that buy-to-let landlords have a guaranteed income stream whether tenants default on their rent or damage or suddenly vacate the property – events that would otherwise leave the landlord with no income with which to […]


News and expert analysis straight to your inbox

Sign up