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Monthly house price growth slows to two and a half year low

Nationwide also thinks that the interest rate cycle could be close to a peak, but energy price rises could equate to a further quarter percentage point on mortgage rates for households with £100,000 mortgage.

The forecast for house price inflation in year to December 2004 remains at 15%.

Alex Bannister, Nationwide&#39s group economist, says: “Price growth declined sharpley in August with the price of the average house rising just 0.1% during the month. Consequently, the annual rate of house price inflation eased to 18.9% in August, from 20.3% in July. The price of the average house now stands at £153,743. Although August&#39s price rise was the lowest monthly increase for almost three years, a better indication of the underlying trend is the average rate of price growth over the last three months.”


Principality on track to deliver commitments to members

Gross Lending for 2004 was £549.5m, compared to £388.2m in 2003, other income increased to £8.2m, from £7m in 2003. Profit before tax £8.2 million, compared to £9.9m in 2003, total assets were £3,836m up from, £3,248m on 2003. Peter Griffiths, chief executive of Principality, says: “After the first half of 2004 we are on course […]

KRS says regulation will make its life easier

The firm says regulation will make its life easier and be quite straightforward, as it specialises in lifetime mortgages unlike most brokers and IFAs who are generalists. Dean Mirfin, business development director of Key Retirement Solutions, says: “We are lucky. Regulation is going to make life easier for us and we have already done a […]

Near prime off to a flying start at Preferred

Preferred Mortgages has already added enhancements to the product &#45 defaults are now ignored, the LTV has been increased to 90% for self-cert, employed, purchase and remortgage. Preferred Mortgages has seen great interest in the new product since its launch in May, with business far exceeding expectations. John Webster, managing director, says: “We are extremely […]

Skipton appoints intermediary sales manager

Lucy moves from Newcastle, where she worked for the past seven years as a branch manager and, more recently, a regional account manager. Her main responsibility will be to develop business in her area, promoting the products of Skipton, and that of its subsidiary company, Amber Homeloans.


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