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House price inflation hits nine-year low

Figures released by the Office of the Deputy Prime Minister show that house price inflation hit a nine-year low in October.

It rose 2.2% in October from the previous year, compared to 3.3% in September.

House price inflation has been hovering in the range of 2-4% since July, as the market settles down after a marked slowdown since mid-2004.

The August interest rate cut and high employment levels have supported market conditions, with mortgage activity already back above its long-term average.

The Royal Institution of Chartered Surveyors expects the current upturn in housing market activity to be sustained into 2006 as the economy pulls out of last year’s slowdown.


Buy-to-let grew 16% in November

Mortgages Direct has revealed that buy-to-let mortgages increased by 16% in November. This followed a steady increase over the past six months, as many investors geared up for self-invested personal pensions’ tax-free investment opportunities. This has now been retracted by the government.

Market to recover in spring 2006

Smartnewhomes. com is predicting the housing market will recover from its year-long slump come spring 2006. The property website anticipates an average 2% price inflation over the year, with a slightly bigger increase in Yorkshire and Humberside, the North-East and West Midlands. The website also says that although the market is unlikely to suffer a […]

SPPL reports 10% in sales during November

Southern Pacific Personal Loans says it is experiencing high levels of demand for its product range introduced on November 21. Product features include the first discount rate ever to be offered in the secured loan market, interest only payments on all sizes of loans, and self-cert for the first time up to 90% LTV. SPPL […]

Leeds launches another 10-year fixed rate deal

Leeds has launched a 10-year fixed rate product following the success of its Best Buy mortgage. Leeds has launched a similar mortgage for people with smaller deposits. The product is available up to 90% LTV, has no higher lending fee, includes the flexibility of allowing 10% capital repayments each year without penalty and has a […]


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