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House price growth to slow by end of 2004

The Council of Mortgage Lenders says it expects house price growth to slow to an annual rate of 8% by the end of the year.

In its fortnightly News & Views publication, the CML also forecasts that mortgage lending will remain strong, but that growth will be much slower than in recent years.

It also expects remortgaging to continue to be popular as the prospect of higher interest rates encourages borrowers to search out better deals and to switch from more expensive unsecured loans. It adds with interest rates increasing and house price rises continuing tooutstrip growth in earnings, the number of transactions is likely to be close to the low level seen in 2003.

In addition, the CML forecasts that arrears, currently at a 20-year low, may begin to rise modestly during the year and that affordability will continue to be a problem for first-timebuyers, many of whom are struggling to find a large enough deposit to buy a home.


MPC rate vote was almost unanimous

Members of the Monetary Policy Committee voted eight to one to hold the interest rate at 3.75% this month, the minutes of the meeting show. Financial and labour markets were described as looking positive, and upbeat reports from Halifax and Nationwide were interpreted as a sign of the housing market continuing to do well despite […]

B&W strikes back at easyflex critics

Bristol & West Mortgages has hit back at suggestions from lenders and brokers that its revamped easyflex product range is complicated and confusing. The range includes a self-cert mortgage and allows overpayments, underpayments, payment holidays and an offset option. Jennifer Blackwood, spokeswoman for Intelligent Finance, says: “Offset products usually contain a current account into which […]

A tricky market that you just can&#39t ignore

Mike Fitzgerald, sales director, Brentchase Financial Services The hottest topic at dinner parties across Britain and on our TV screens every evening seems to be buying an overseas property. This has not of course gone unnoticed amongst brokers and many are now examining whether or not they can get into this exciting and sometimes profitable […]

Refurbishment buy-to-let mortgage launched

South coast packager Professionals Finance Centre has launched a buy-to-let mortgage targeted at the light refurbishment market. Individuals can borrow up to 85% LTV of the purchase price up to a threshold of £500,000 and can have a further advance of up to 85% LTV of the upgraded property. The mortgage tracks Bank of England […]

Employees care about their health

It’s important employers remember this like an alarm going off in their head. Employees care about their health. And they’re calling on employers to provide them with health benefits. In a survey we conducted, we asked 1,005 UK SME employees to choose the top three employee benefits they would value most:  48% of employees voted […]


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