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yourmortgage.com

• Warning over unregulated equity release
  Older homeowners have been urged to tread carefully when it comes to unregulated equity release plans.
• Prime London property price growth continues to soften
  The annual rate of property price rises in London has fallen from 21% in April to 16% in August, reported Knight Frank.
• House prices fall in line with expectations
  House prices fell for the second consecutive month in August, by 0.9%, the first time prices have dropped for two months in a row since February 2009, according to Nationwide.
• Coventry finalises merger with Stroud & Swindon
  Coventry Building Society has completed its merger with Stroud & Swindon Building Society, in a deal that will migrate 200,000 customers and cut their mortgage interest rates.
• Rent caps could leave 340,000 homeless
  A survey suggests a third of social tenants could be made homeless and 90% of landlords in London and the South East will be affected by the upcoming changes in housing benefit legislation.
• No change in interest rate until 2011
  A cooling global economy and an impending austerity squeeze in Britain will make the Bank of England (BoE) wait well into next year before hiking interest rates, a poll of 60 economists suggests.
• Tenant arrears improve
  Over the last 12 months tenant arrears have remained stable or fallen, according to 84% of landlords.
• Britons keep schtum about money worries
  Nearly 70% of UK consumers who find themselves facing sudden financial difficulty choose not to tell their bank or building society.
• 1,500+ new mortgage deal offered
  Over 1,500 mortgage schemes were introduced into the UK mortgage market during the month of August.
• Detached houses gain £91 a day
  The average detached family home has increased in value by £91 a day over the past year, more than any other type of property, according to Halifax.

• Loud lovemaking is top tenant annoyance
  People having noisy sex has topped a poll of what annoys tenants the most about their housemates.
• Negative equity here ‘till 2014'
  Tens of thousands of mortgage borrowers will remain in negative equity for at least four more years.
• July mortgage lending holds steady
  Mortgage lending in July was little changed month-on-month and against the previous six month average at 48,722.
• Interest in 10-year fixed rates surges
  The number of internet searches for fixed rate mortgages rocketed by 888% in the three months from April to June 2010.
• One in five loans for home improvements
  Britons are continuing to invest heavily in their homes despite continued reports of challenging economic conditions, according to Sainsbury's Finance.
• Supply/demand imbalance impacts house prices
  Demand for housing dropped for the second month in a row in August by 2.2%, as the supply of homes for sale jumped 2.4%, according to Hometrack.
• Consumer confidence picks up
  UK consumer confidence jumped in August according to an official poll, despite the government's austerity drive and fears a double-dip recession could be around the corner.
• Building society lending hits high for 2010
  Gross mortgage lending by mutual building societies grew by 11% in July to £1.995bn, the highest monthly total so far this year, according to the Building Societies Association (BSA).
• Scottish crackdown on mortgage fraud
  The Scottish Police College is training up a new team to tackle mortgage fraud, along with identity theft and online crime, at a sophisticated level.
• Welsh first-time buyer grants shelved
  The Welsh government has reneged on a promise to provide energy efficiency grants to first-time buyers.
• Record number of new renters: Countrywide
  The number of new tenants signing up for rental property soared to an unprecedented 50,480 in the second quarter of 2010, according to the UK’s largest lettings agent Countrywide.
• US mortgage rates at all-time low
  Average mortgage rates in the US have reached a record low, with the cost of a 30-year fixed rate falling to 4.36% from 4.42% last week.
• High street banks reduce rates
  Santander (formerly Abbey) and Barclays Woolwich have reduced the interest rates charged on some of their mortgage products.
• 35% aspire to country cottage
  When asked which type of TV property they would most like to live in, 35% of people would opt for a chocolate box style country cottage as featured on Midsomer Murders.
• Savills back in profit
  International estate agency and property group Savills has returned to profit on the back of a property market recovery in London and the ongoing Asian property boom.
• Mortgage applications up 31% at Co-op
  Co-operative Financial Services (CFS) has recorded a 31% rise in applications for its mortgages in the first half of 2010.
• Landlord confidence slides
  Landlord confidence has taken a hit in the last three months, according to a survey, but 42% of landlords still think now is a good time to invest.
• One third of new borrowers have no life insurance
  Almost one third of new mortgages taken are not covered by life insurance.
• Northern Rock delays mortgage fee reduction
  Northern Rock has put off its announced cut in mortgage fees due to a problem with its computer systems.
• Pick up in house purchase
  Buyer instructions and completions have increased, according to conveyancers, although remortgaging levels show no change as yet.

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