http://www.wilson-nesbitt.com/articles/ Wilson Nesbitt Solicitors - Residential Conveyancing News RSS feed en-gb email@wilson-nesbitt.co.uk info@flamegreen.com 30 http://www.wilson-nesbitt.com/articles/845/02072008/ni_house_prices_down_18%25.html House prices in Northern Ireland have fallen by an average of 18 per cent over the last year, a Nationwide survey has shown.According to the report, while the average house in Northern Ireland would have been sold through solicitors at £215,000 in June 2007, it would now go for a sum... Wed, 2 Jul 2008 18:44:00 BST http://www.wilson-nesbitt.com/articles/814/13062008/remortgaging_sector_bouyant.html The director general of the Council of Mortgage Lenders (CML) Michael Coogan has claimed that the British remortgaging market remains "buoyant".Speaking to BBC Radio 4's Today programme, Mr Coogan described the mortgage sector as "a market of two... Fri, 13 Jun 2008 12:00:46 BST http://www.wilson-nesbitt.com/articles/813/12062008/super-rich_still_hunting_for_ni_property.html The very wealthy are still on the look-out for new large luxury homes, an architect has claimed.Des Ewing said that interest in his homes is so high that he has had to stop taking bookings.He told the Belfast Telegraph: "There is tremendous confidence in the market that we are operating... Thu, 12 Jun 2008 14:01:00 BST http://www.wilson-nesbitt.com/articles/805/09062008/buyers_on_look_out_for_environmental_homes_in_northern_ireland.html Potential homebuyers in Northern Ireland are on the look-out for environmentally-friendly homes in the province.The Carvill Group's green homes will make up Northern Ireland's first eco-village which is to be built in Lisburn.According to Richard Acheson from the group, high oil prices... Mon, 9 Jun 2008 11:03:31 BST http://www.wilson-nesbitt.com/articles/804/06062008/supply_and_affordability_%22challenges%22_for_borrowers_in_northern_ireland.html The Council of Mortgage Lenders (CML) has said that the greatest challenge facing borrowers in Northern Ireland remains the affordability and supply of housing in the province.Solicitors are unable to carry out housing transactions if, as the CML reports, people in Northern Ireland are unable to... Fri, 6 Jun 2008 13:41:00 BST http://www.wilson-nesbitt.com/articles/803/05062008/house_prices_fall_by_24%25_in_a_month.html UK house prices fell by 2.4 per cent in May and now stand 3.8 per cent lower than they were this time last year, according to the Halifax House Price Index.The index, which has been measuring house prices since 1984, showed that despite the fall in prices, overall, householders have seen the... Thu, 5 Jun 2008 19:00:00 BST http://www.wilson-nesbitt.com/articles/798/03062008/plan_to_help_northern_ireland_homeowners_in_danger_of_repossession.html The social development minister Margaret Richie is due to announce a rescue plan for homeowners in Northern Ireland facing repossession.Over the past six years, repossessions through the courts have risen in Ulster by more than 60 per cent.Ms Richie is due to meet the Belfast Council of Mortgage... Tue, 3 Jun 2008 15:33:00 BST http://www.wilson-nesbitt.com/articles/796/03062008/a_quarter_trapped_in_their_current_homes.html Some 25 per cent of homeowners in the UK say they feel trapped in their current home by their financial situation.Research from Gocompare.com has revealed that the credit crunch has led many to abandon plans to move home or make changes to their existing properties.Those hit hardest by the crunch... Tue, 3 Jun 2008 13:03:00 BST http://www.wilson-nesbitt.com/articles/795/02062008/mortgage_approvals_at_record_low.html Figures from the Bank of England have revealed that mortgage approvals in the UK have dropped to their lowest levels for 15 years.The total worth of the 58,000 mortgages issued in April stood at £8.6 billion.In comparison, there were 73,000 approvals in January 2007, rising to 115,000 in... Mon, 2 Jun 2008 18:30:00 BST http://www.wilson-nesbitt.com/articles/792/30052008/house_prices_falling_at_1990s_levels.html The prices of houses in the UK are falling at their fastest rate since the early 1990s, new research has revealed.Nationwide Building Society's survey of the housing market showed that on average British house prices fell by 2.5 per cent during the past month - the seventh consecutive month... Fri, 30 May 2008 16:32:00 BST http://www.wilson-nesbitt.com/articles/781/23052008/empty_property_in_northern_ireland_should_be_taxed.html Northern Ireland finance minister Peter Robinson has proposed that extra rates should be imposed on empty properties in the province in a bid to encourage them back into use.The government estimates there are between 10,000 and 20,000 empty houses and such a move could raise up to £10... Fri, 23 May 2008 18:55:00 BST http://www.wilson-nesbitt.com/articles/778/22052008/northern_ireland_houses_to_need_energy_certificate.html Houses being sold by solicitors in Northern Ireland will need to have an energy performance certificate by July.The scheme is based on similar initiatives in England and Wales, the BBC reports.A special energy assessor will have to visit houses and determine how energy-efficient they are.From... Thu, 22 May 2008 14:52:32 BST http://www.wilson-nesbitt.com/articles/777/22052008/weak_housing_market_benefiting_buy-to-let.html Buyers being forced back into the rental market by the reduced availability of mortgages and a downturn in property sales are making buy-to-let investment more profitable, a survey has found.The Royal Institute of Chartered Surveyors (Rics) has found that the number of surveyors reporting a rise... Thu, 22 May 2008 13:29:00 BST http://www.wilson-nesbitt.com/articles/774/21052008/increased_demand_for_five-year_fixed-rate_mortgage.html There is increased consumer demand for five-year mortgage products in the UK, including in Northern Ireland, according to new research. A report produced by Abbey found that up to 30 per cent of existing borrowers would select a five-year deal if they were to remortgage. This is a significant... Wed, 21 May 2008 13:08:00 BST http://www.wilson-nesbitt.com/articles/776/21052008/mortgage_lending_dealt_with_by_northern_ireland_solicitors_on_the_up.html Solicitors in Northern Ireland are seeing an increased demand for lending services as the gross mortgage lending increased in April, it has been claimed.The Council of Mortgage Lenders (CML) has released figures stating that total lending reached £25.3 billion in April, a five per cent... Wed, 21 May 2008 13:05:00 BST http://www.wilson-nesbitt.com/articles/771/19052008/endowment_mortgage_shortfall_expected.html Some 86 per cent of homeowners holding endowment mortgages have been warned to expect a shortfall in their policies, solicitors and independent financial advisors have warned.People in Northern Ireland who have taken out endowment policies had originally believed that investments would pay off... Mon, 19 May 2008 13:47:00 BST http://www.wilson-nesbitt.com/articles/769/16052008/personal_bankruptcies_could_rocket.html There could be a huge rise in the number of personal bankruptcies, an academic has warned.Professor Nick Wilson, from Leeds University Business School, told BBC Radio 4's Today programme that more corporate bankruptcies could mean more personal ones due to a lessening in income among those... Fri, 16 May 2008 16:36:00 BST http://www.wilson-nesbitt.com/articles/765/15052008/government_announces_help_for_first-time_buyers.html The government has launched a scheme to help more first-time buyers to get onto the housing ladder.It intends to make it easier for people to enter into shared equity schemes.Under the proposals, all first-time buyers with an income of less than £60,000 will be able to apply to buy a... Thu, 15 May 2008 14:02:00 BST http://www.wilson-nesbitt.com/articles/766/15052008/eco-homes_welcomed_by_consumers.html Homebuyers in the UK have a positive attitude towards eco-friendly home improvements, according to a new report.Eco-homes: Economically Sustainable? found that there is an optimistic attitude towards green homebuilding among people around the UK, including in Northern Ireland.The report, produced... Thu, 15 May 2008 14:00:00 BST http://www.wilson-nesbitt.com/articles/763/14052008/surprising_speed_of_housing_downturn.html The Federation of Master Builders (FMB) has claimed that the recent slump in the housing market has occurred at a surprising speed and to an unusual extent.Speaking on BBC Radio 5 Live's Wake Up to Money programme, the director general of the FMB Richard Diment explained that the maintenance... Wed, 14 May 2008 13:35:00 BST http://www.wilson-nesbitt.com/articles/759/13052008/gloomy_picture_for_northern_ireland_property_market.html The property market in the UK is the worst it has been in 30 years, according to figures released today by the Royal Institute of Chartered Surveyors (Rics).Rics has revealed that 95.1 per cent more of its surveyors reported a fall in house prices than reported a rise and in East Anglia, the... Tue, 13 May 2008 13:57:00 BST http://www.wilson-nesbitt.com/articles/755/09052008/interest_rates_decision_disappointing_for_homeowners.html The Bank of England's (BoE's) decision to hold interest rates at five per cent was "disappointing", according to the Council of Mortgage Lenders (CML). Michael Coogan, CML director general, said that while the council does understand "the conflict between... Fri, 9 May 2008 13:39:00 BST http://www.wilson-nesbitt.com/articles/756/09052008/interest_rates_kept_at_5%25.html Interest rates are to be held at five per cent, the Bank of England has announced.The hold is thought to be due to inflationary pressures which have been amplified by rising fuel and food costs.Ian McCafferty, chief economic advisor for the Confederation of British Industry, told the BBC that the... Fri, 9 May 2008 13:38:00 BST http://www.wilson-nesbitt.com/articles/742/01052008/uk_market_may_slow_but_recession_unlikely.html Mortgage lenders believe the economy will continue to slow but will avoid a full-scale recession, according to a survey by the Intermediary Mortgage Lenders Association (IMLA).Eight out ten lenders said they believed market conditions were getting worse with 44 per cent thinking there will be two... Thu, 1 May 2008 16:07:00 BST http://www.wilson-nesbitt.com/articles/741/01052008/house_prices_in_northern_ireland_set_for_big_drop.html The average price of a house in Northern Ireland is set for a steep reduction, according to a local economist.Richard Ramsey from the Ulster Bank told the BBC that the £250,000 peak average house price in the province could fall by up to £75,000 by the end of the... Thu, 1 May 2008 13:46:00 BST http://www.wilson-nesbitt.com/articles/737/29042008/conference_to_consider_housing_issues_in_northern_ireland.html Housing management students from the University of Ulster are holding a conference to examine the future of the Northern Ireland property market.It will explore the issues facing housing in the province after minister for social development Margaret Richie's announcement of the new social... Tue, 29 Apr 2008 14:41:00 BST http://www.wilson-nesbitt.com/articles/727/25042008/ni_builders_hardest_hit_by_credit_crunch.html Builders and tradesmen in Northern Ireland are losing more building work than their peers elsewhere in the UK, according to the Federation of Master Builders (FMB).The FMB reported that builders in Northern Ireland are reporting a workload 30 per cent lower than the average for the whole of the... Fri, 25 Apr 2008 17:25:00 BST http://www.wilson-nesbitt.com/articles/722/23042008/government_working_to_support_mortgage_holders.html The government and the Council of Mortgage Lenders (CML) have announced that they are working together in order to find ways to support mortgage borrowers struggling to cope in the current economic climate.Lenders reassured the government that they would only repossess properties at "a... Wed, 23 Apr 2008 14:00:00 BST http://www.wilson-nesbitt.com/articles/723/23042008/attractive_yields_still_available_from_the_buy-to-let_market.html Fewer buy-to-let landlords are planning to sell their properties because of "slipping back" prices and attractive rental yields, according to research by the Royal Institute of Chartered Surveyors (Rics).The study showed that in the three months to January 2008, just 4.6 per... Wed, 23 Apr 2008 14:00:00 BST http://www.wilson-nesbitt.com/articles/714/17042008/solicitors_in_northern_ireland_can_advise_on_housing_choices.html Taking a long-term view is important when considering the value of assets like property, according to a property advisory service.YourPropertyClub.com, which acts for property investors, has said that a number of wealthy investors are actually choosing now as a time to put money into the property... Thu, 17 Apr 2008 14:00:00 BST