The National Housing Federation says banks are turning away £1 billion of business because of prejudice against low cost housing. The banks are refusing to lend to people on modest incomes – first-time buyers and key workers – because they mistakenly view the shared ownership deals as unsound. The
Mortgage approvals increased by 19 per cent during February, according to Bank of England figures. There were 38,000 approvals in the month, up from 32,000 in January, which surprised pundits, giving them hope that low interest rates and falling house prices may be encouraging buyers back to the market.
Commercial law firm EMW Picton Howell has said that the number of planning applications withdrawn by developers has increased dramatically in the past year as local planning authorities put pressure on developers to withdraw so they can meet government time limits for determining applications. The percentage of planning applications
The slump in house prices eased slightly in November according to the Nationwide‘s index. Compared with October’s fall of 1.3 per cent, this month’s price drop of 0.4 per cent ‘moderated significantly’ recent price falls; however, compared with last November’s figures, house prices were down 13.9 per cent. The