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Government to publish monthly housing index

Shortcomings in the collection of housing market data has led the government to begin publishing its own monthly housing index, starting next summer.

The National Statistics house index will seek to build a more sophisticated picture of the housing market than that provided by large banks and building societies such as the Halifax, and Nationwide&#39s monthly surveys.

Though Halifax and Nationwide both produce their own monthly surveys of house price inflation, their surveys are based on mortgage approvals rather than final prices paid by housebuyers and only cover loans forwarded by the two lenders.

The new index is expected to be monthly and to cover the whole of the UK, with separate analysis of each region and will cover all transactions, whether cash or mortgage based.

Plans to include details of the type of building sold whether new or old, council, shared or buy-to-let, and the number of habitable rooms will also be included with the aim of presenting a better understanding of key drivers of the housing and property market.


N&P cruising with tracker mortgage competition

Norwich and Peterborough Building Society is offering homebuyers the chance to win a cruise some of the beautiful islands of the Caribbean in a draw to promote tracker mortgages. The lucky winner of the nine-night fly-cruise for two will receive return flights from London to Miami and a seven-night Eastern Caribbean cruise on a Holland […]

Skipton offers discounted buy-to-let

Skipton Building Society has launched a new mortgage for borrowers wanting to invest in the property market. The residential buy-to-let mortgage has a discount of 1.30% in the first year, offering an initial rate of 4.40%, with flexible features and no compulsory insurance. The deal reverts to variable rate in year three and is available […]

Preferred Mortgages agree bridging-loan partnership

Preferred Mortgages has partnered with Cheval Property Finance Plc to offer bridging loans to provide intermediaries with access to interim funding for their clients with minimal formalities. The most common use for bridging finance is to assist people buying property before their present house is sold. Preferred believe this type of funding is much underused […]

New 10-year fixed rate from Leeds & Holbeck

Leeds & Holbeck Building Society has launched a new 10-year fixed rate mortgage at 4.95%. The new mortgage is fully portable and available up to 95% of property value. Capital repayments are allowed at up to 10% a year and there are no MIG fees up to 90% of property value. Tony Burdin, head of […]


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