According to Zoopla buying property is now cheaper than renting in 47 of the 50 largest towns and cities across the country.
However Zoopla have been a little bit loose with their maths to arrive at that conclusion.
Read more on Is renting really more expensive than buying property?…
Companies will no longer be able to offer customers mortgage suggestions about a non-advised basis under proposals in the Mortgage Market Review. And whilst the activities of commercial mortgage brokers are not currently regulated it could have a knock on effect.
Read more on How will Commercial Mortgage Brokers React to New Rules?…
Some recent statistics show that the lending situation is starting to recover. The Council of Mortgage Lenders has released figures that show a 20% increase in lending from February to March, and although the lending figures are down from a year previously.
It seems that the new range of buy-to-let products will be targeted at professional landlord investors. Paragon will apparently commence lending with immediate effect through a panel of brokers and will widen distribution over time. Paragon says it will also accept direct business.
Despite opposition to the initial introduction of HIPs the government has decided to push ahead with the expansion of the scheme. The Home Information Packs were originally scheduled to be introduced for all homes from 1st August 2007, but after a farcical u-turn in July only 4 bed houses were initially covered.
Read more on HIP’s: From Septemeber It’s Three-bed Houses Too…
unregulated been a lot of talk in the press about homeowners applying for mortgages with “[tags[adverse credit[/tags]“. The popular press tends to concentrate on the problems this causes for for the applicant, but the issue of adverse credit applications creates problems for brokers and lenders too.
Are [tag]HIP’s[/tag] delayed or cancelled? The government (in the form of Ruth Kelly) has now said that [tag]Home Information Packs[/tag] will be required for all properties with four bedrooms or more from 1st August 2007. The whole affair has been an embarrassment to the government, with the original proposals stripped to the bare bones.
Some of the companies who have invested the most in the provision of Home Information Packs have started to release so of their pricing plans. LMS are believed to be the first to market with their offering. Their report will consist of an Energy Performance Report (EPC) and all the necessary local searches.
Estate agents, mortgage brokers, and solicitors are all well aware of Home Information Packs (HIPs). But how many consumers are aware of what’s install for them when the new regulations come into force on the 1st June 2007.