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Budget flight cuts won’t hit prices

The reduction in the number of low-cost flights to property hotspots poses no threat to the value of overseas property, says Conti Financial Services.

The rising cost of fuel has forced Ryanair to cut back on the number of flights to several popular destinations. It has temporarily suspended its operations in Poland and Palma. And Easyjet has cut flights to a number of destinations, including Spain, but has yet to axe any routes altogether.

Simon Conn, sales and marketing director at Conti, says: “Any reduction in the number of low-cost flights will not affect the value of investors’ overseas homes.

“Investors gravitate towards lo-cations with airports nearby, especially if they are served by budget airlines. But we always warn buyers that there are no guarantees that cheap flights will continue.”

He adds: “Investors must look beyond companies such as Ryanair and Easyjet because other European carriers are now competing with UK-based budget airlines.”


Accord cuts prime mortgage rates

Accord Mortgages has taken advantage of falling swap rates and cut rates across its prime range by up to 70 basis points.

Ingard to take over M2i

Mortgage 2000 is transferring the ownership and running of its M2i compliance service to Ingard Intermediary Services.

Rescue plan unlikely to work in prevailing mortgage market

The government’s rescue plan is unlikely to work in the prevailing market conditions as lenders are not keen to securitise on new-builds. This is a result of their inflated pricing in relation to other property types.

Life after the CML

By Roy Armitage, head of credit at LendInvest Last month saw three-quarters of the membership of the Council of Mortgage Lenders (CML) vote in favour of plans to create a super-trade body, which would see the CML merge with the likes of the British Bankers’ Association and Payments UK. There is little room for misty-eyed […]


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