The housing market looks set to remain stable as employment hits an all-time high, say economists.Figures from the Office of National Statistics show employment is up 240,000 this year at 28.94 million. But the number of people out of work has also risen to 1.68 million, the highest level in six years. Housing economist John Wrigles-worth says: “It’s good news for the housing industry if employment is up. Even though there are high levels of unemployment there are still more people employed, so it is not going to be a critical situation. The last housing slump saw over two million unemployed. We are nowhere near that.” The International Labour Organisation says unemployment has risen by 243,000 this year to 1.68 million. The government attributes the rises in employment and ILO unemployment levels to a growing population and a falling number of people who are not looking for work – the ‘economically inactive’ figure is down 108,000 to its lowest rate for 14 years.
Tory Leader David Cameron plans to revolutionise the Right to Buy market by allowing every council tenant the right to have their rent payments converted into mortgage repayments. Should the Conservatives be elected and implement this proposal it would give a considerable boost to the already buoyant Right to Buy market.Cameron says: “Right to Buy […]
At the first-time buyer summit held by the Conservative party today, Alliance & Leicester says first-time buyers are the lifeblood of the mortgage market.Stephen Leonard, director of mortgages at Alliance & Leicester, says: As house prices continue to go up and with the increase of existing homeowners buying second homes, more and more young people […]
The Mortgage Partnership has appointed an in-house mortgage consultant.Mark Kennedy, previously of Northern Rock, is now based at the new enquiries desk at TMPs principle office in Wirral. Reporting directly to head of operations Michelle Yates, Kennedy is responsible for taking new enquiries from brokers both over the telephone and online and advising on products […]
Nationwide has rebutted accusations that it is falsely advertising its products in an attempt to gain customers. Nationwide reportedly asked sourcing system Trigold to change the Bank of England base rate back to 4.5% on its system despite the recent 0.25% increase. A source at Trigold says: “Nationwide called and asked us to lower the […]
Video update from Mark Martin, Head of UK Equities, Neptune Investment Management With the Brexit referendum scheduled for 23 June, how much risk is priced into the market and is the current volatility a long-term buying opportunity? Watch Mark Martin, Head of UK Equities, and Holly Cassell, Assistant Manager on the UK Mid Cap and […]
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