House Prices 'up on a year ago' - BBC

UK house prices were 1.1% higher in December than a year earlier - the first annual rise since March 2008, according to the Halifax.

Prices rose by 1% in December compared with the previous month, marking the sixth consecutive monthly rise.

The Halifax, now part of Lloyds Banking Group, said the average home was now worth £169,042.

| more on this story | more from BBC Business |

All the latest business news from the BBC

House prices fell by 15.9% last year, according to the latest survey by the Nationwide building society.

It says prices fell by another 2.5% in December taking the average house price down to £153,048 - £29,000 less than a year ago.

The building society says that as prices have now fallen for 14 months in a row they are 18% lower than their peak in October 2007.

| more on this story | more from BBC Business |

Mortgage Approvals up 81% in year

The number of mortgages approved by the major banks in August was up 81% from the same month a year ago when the housing market was in a slump.

The British Bankers' Association (BBA) said the annual rise was exaggerated by the low lending levels of a year ago. Approvals for house purchases in August dipped slightly compared with July after seven months of month-on-month rises, the figures show.

The BBA said major banks had been more active than other lenders recently.

However, the number of homes being put up for sale was low.

35,000 could miss out on tax break

Abbey has warned that up to 35,000 home buyers are in danger of missing the Stamp Duty holiday deadline which expires at the end of the year. It is urging would be buyers to ensure they complete transactions before December 31.

Properties valued between £125,000 and £175,000 have been exempt from the 1%  Stamp Duty since September 2008.

With house purchases typically taking anything up to 3 months , a deadline would effectively be around 30th September. “Those thinking of buying must decide to use or lose it.”

Housing market given £1bn injection in Budget 2009

A £1 billion injection into the housing market was announced by Alistair Darling to ease the pressure on homeowners, help meet future demand for properties and allow the construction industry to recover.

For borrowers who are struggling to pay their mortgage as they seek new jobs, the government has extended the higher level of support in the Income Support for Mortgage Interest (ISMI) scheme for a further six months.

| more on this story |

It’s Good to Talk! NO DEPOSIT required (or is it Equivalent 100% Mortgages are available?)

As Mortgage Brokers we too have seen the frustrations and hurdles created by lenders in the current market to secure , in their eyes, safer and more profitable lending ,  but in the process been part of a system which for some time now has seemed to neglect the obvious .

If First Time Buyers are not buying houses because they are not able , then not many people will be moving , and I can confirm, if people didn’t already know,  FTB’s have not been getting much in the way of help.

| more on this story |

Carlisle 01228 515515

Brampton & Longtown 01697 263100

Hexham & Haltwistle 01434 620130

Whitehaven 01946 690111

Workington, Maryport & Cockermouth 01900 233101