Remortgaging

Majority of first time buyers get help from parents

Majority of first time buyers get help from parents

According to new research by the Council for Mortgage Lenders, 64 per cent of first time buyers in Northern Ireland and the rest of the UK got financial assistance from... Read more

Half of second steppers can't afford to move

A survey by Lloyds TSB has revealed that 55 per cent of second steppers; existing home owners wanting to move to another property, cannot meet the deposit requirements. While government incentives... Read more

Interest rates remain frozen at 0.5 per cent

Interest rates will continue at their record low of 0.5 per cent following the last meeting of the Monetary Policy Committee (MPC) chaired by Sir Mervyn King, who has voted... Read more

NI only part of UK to see drop in first time buyers

First time buyers in Northern Ireland are falling behind their UK counterparts in terms of activity in the property market. In the first quarter of 2013 there was an increase in... Read more

Call for first time buyer stamp duty exemption

The HomeOwners Alliance (HOA) is calling for a permanent exemption from stamp duty for first time buyers, as well as other changes to the property tax system, which they believe... Read more

3 in 5 NI houses are bought by first time buyers

Three out of every five properties sold in Northern Ireland are being bought by first time buyers according to new figures. The statistics released by the Council of Mortgage Lenders in... Read more

Report shows increase in NI house sales

The latest government statistics reveal that there continues to be an increase in property sale transactions in Northern Ireland, and while there is a varying performance of house values across... Read more

20 per cent increase in first time buyer mortgages

There was a 20 per cent increase in the number of first time buyers taking out a mortgage in the month of March, according to the Council of Mortgage Lenders. The... Read more

Investors driving the NI property market

There has been an increase in purchases of lower priced properties in Northern Ireland according to research by the Royal Institution of Chartered Surveyors (RICS), but it is thought to... Read more

£25k fine for building house without permission

A Northern Ireland man who built a house without any of the appropriate planning or building control permissions has been fined £25,000, his third fine in respect of the unapproved... Read more

Interest rates remain frozen at 0.5 per cent

As expected, the Bank of England has today confirmed that interest rates will remain frozen at 0.5 per cent - good news for mortgage borrowers and would-be house purchasers. Many commentators... Read more

NI property report shows signs of stabilisation

Northern Ireland property buyers are waiting anxiously for the headlines that house prices are on their way up again, but for now they will have to settle for reports that... Read more

Guide to Northern Ireland house value performance

Below is a quick glance guide to house value performance in the different regions of Northern Ireland based on the latest survey from the University of Ulster, produced with the... Read more

New mortgage approvals up in March

There was an increase in the number of new mortgage approvals for home purchasers and remortgagors in the month of March, though February's five year low was always going to... Read more

Mortgage borrowers favour 5yr fixed deals

Mortgage borrowers in Northern Ireland and the rest of the UK are turning to 5-year fixed products, with a 73% increase in the past year. Home buyers and remortgagors have traditionally... Read more

No confidence in Northern Ireland property prices

While the rest of the UK responded to a survey with growing confidence in the property market, not one person in Northern Ireland predicted any increase in house values this... Read more

Lending to first time buyers at 5yr high

New figures released by the Council of Mortgage Lenders suggests that lending to first time buyers in January and February reached a 5 year high. There was a 3 per cent... Read more

Survey suggests NI property prices steady

The latest Royal Institution of Chartered Surveyors (RICS) survey presents a very positive picture of the Northern Ireland property market, with the majority of those surveyed saying house prices had... Read more

Mortgage rates to fall in next quarter

The Bank of England expects mortgage rates to fall over the next three months, having already dropped for three quarters in a row. The fall in mortgage rates is thought to... Read more

Even hobbit houses need planning permission

Property owners in Wales have learned that it is one thing to build a house that is friendly to the environment, but it also has to be friendly to the... Read more

Mortgage borrowing down in February

Mortgage lending to fund house buying and remortgaging in Northern Ireland and the rest of the UK was down in February according to the latest figures from the The British... Read more

NI developers to be forced to complete sites

A power under the Planning Order to require developers to complete developments they have begun work on in Northern Ireland is being tested for the first time. There are a large... Read more

Survey suggests end to NI property price decline

Over a half of the estate agents and surveyors who took part in the latest Institution of Chartered Surveyors (RICS) poll said that property prices in Northern Ireland had remained... Read more

First-time sellers stuck on property ladder

The UK preoccupation with property shows no sign of abating, and all the monthly reports and statistics have us well familiar with the plight of the first-time buyer, but a... Read more

Liverpool City Council sell houses for £1

Liverpool City Council has come up with a bold initiative to tackle a problem with derelict housing in some of its' streets. The Council offered up 20 houses for a... Read more

NI is region with most negative equity

New figures from the Council of Mortgage Lenders show that 69,000 houses in Northern Ireland are in negative equity, making it the worst effected region of the UK. The Northern Ireland... Read more

NI first time buyers paid 20 pc deposits in 2012

The average deposit paid by the 5,100 first-time buyers who purchased a house in Northern Ireland last year was 20 per cent of the total property price, according to figures... Read more

NI house prices dropped 13 per cent in 2012

Another report has emerged in respect of the Northern Ireland property market, with the Land and Property service figures showing that houses lost 13 per cent in value over the... Read more

NI property activity up at lower end of market

The latest University of Ulster Quarterly House Price Index reveals that 69 per cent of property purchases in Northern Ireland involved houses costing £150,000 or less in the last quarter... Read more

Northern Ireland house price guide

The latest University of Ulster Quarterly House Price Index has been released with statistics on the Northern Ireland property market in the last quarter of 2012. Below is a list showing... Read more

Northern Ireland house prices still falling

Northern Ireland property prices are still falling according to the most recent report from the Royal Institute of Chartered Surveyers and Ulster Bank. On a positive note, there has been an... Read more

NI house prices to increase by 6% in 5 years

Property prices in Northern Ireland will increase by 6% over the next five years according to a new study by the think tank, Centre for Economics and Business Research (CEBR). The... Read more

First time buyers put January borrowing at 4yr high

New figures produced by E.surv suggest that mortgage borrowing reached a four year high in January of this year, with first time buyers using high loan-to-value mortgages said to be... Read more

Interest rates remain frozen at record low

As expected, the Monetary Policy Committee has today announced that interest rates will remain frozen at 0.5 per cent, which will mean that next month will see the completion of... Read more

Wilson Nesbitt commits to CA consumer pledges

Wilson Nesbitt has committed to support and uphold Conveyancing Association consumer pledges which are designed to make the process of buying a house smoother and more efficient for our clients... Read more

Bank of England maintains interest rate freeze

The interest rate will remain at 0.5% for the 46th consecutive month, on course to reach four years in March 2013. As expected, the Bank of England monetary policy committee (MPC)... Read more

UK mortgage approvals continue to increase

The number of new mortgage approvals in Northern Ireland and the rest of the UK in November increased to a three year high according to new figures from the Bank... Read more

NI house prices fall back to 2004 values

Property prices in Northern Ireland fell by 1.4% in the last quarter of 2012, resulting in an overall 8.2% decrease for the year, which takes values back to the levels... Read more

Average first time buyer deposit 27k

A new report by Halifax suggests that the average deposit put down by first time buyers in Northern Ireland and the rest of the UK in 2012 was £27,239. The number... Read more

New Years resolutions more finance orientated

The past couple of years have seen a change to the most popular New Years resolutions made by people in Northern Ireland and the rest of the UK. While dieting, exercise... Read more

Homeowners opt to reduce mortgage debt

The number of new mortgages taken out in November was marginally up on the month before, but down on the same month last year. Homeowners in Northern Ireland and the... Read more

Mortgage arrears and repossessions lower than forecast

The number of mortgage borrowers in arrears by the end of this year is 22 per cent lower than forecast at the start of 2012, and repossessions are also lower... Read more

Equity release by parents reducing inheritances

New figures suggest that an increase in equity release among older property owners is resulting in fewer and smaller inheritances. The statistics produced by Remortgage.com point to the availability of mortgages... Read more

Cheaper to buy a house than to rent

A new survey by Zoopla.co.uk suggests that it costs £1,080 less each year to purchase a house than to rent one in 90 per cent of towns in Britain. The average... Read more

Northern Ireland house prices by region and type

House prices in Northern Ireland dropped in the third quarter of this year according to the latest University of Ulster Quarterly House Price Index, with apartments in particular experiencing the... Read more

Mortgage lending increased in October

Mortgage lending reached an eleven month high in October, with a £12.9billion worth of new mortgages borrowed by people in Northern Ireland and the rest of the UK. The number of... Read more

Northern Ireland's negative equity problem

New research by the Council of Mortgage Lenders (CML) suggests that negative equity could soon just be an issue for Northern Ireland property owners. Negative equity occurs when a homeowner has... Read more

Remortgaging and house buying down in September

The Council of Mortgage Lenders (CML) have reported that mortgage lending in Northern Ireland and the rest of the UK was down in September. The number of new mortgages taken out... Read more

Mortgage borrowers preferring 5 yr fixed deals

New mortgage borrowers in Northern Ireland and the rest of the UK are preferring five-year fixed deals, as property owners try to make the most of the record low interest... Read more

Increase in Mortgage lending in August

There was an increase in the number of house buyers approved for mortgages in the month of August according to the latest figures from the Council of Mortgage Lenders (CML). There... Read more

Northern Ireland house price guide

The latest University of Ulster Quarterly House Price Index estimates that the overall average house price in Northern Ireland is currently £139,633. That figure does not include houses sold at... Read more

Report suggests NI property market stability

The latest University of Ulster Quarterly House Price Index suggests that there are signs of stability returning to the property market in some regions of Northern Ireland. The overall average sale... Read more

Grants for NI homeowners to upgrade heating

Northern Ireland homeowners can apply for a grant of up to £1000 to replace old inefficient boilers. The Northern Ireland Executive has pledged £12million in grants to help property owners upgrade... Read more

Bank of Ireland pledges £200m mortgage funds

The Bank of Ireland is hoping that a £200million mortgage fund pot will spark borrowing activity in Northern Ireland. Mortgage lending in Northern Ireland fell in the second quarter of this... Read more

Increase in fraudulent mortgage applications

A new report by Experian suggests that fraudulent mortgage applications increased by 22 per cent between April and June, as would-be house purchasers get increasingly desperate to get their foot... Read more

5000 empty properties in Northern Ireland

There are 5000 empty residential properties in Northern Ireland - the fruit of a property boom, and sudden market collapse, that forced builders to abandon new developments half way through... Read more

Increase in first-time buyers in June

New figures released by the Council Of Mortgage Lenders (CML) reveal that their was a 9.1% increase in the number of mortgage loans to first time buyers in June compared... Read more

Fall in UK house repossessions

The number of properties being repossessed in Northern Ireland and the rest of the UK has fallen by 1100 in the second quarter of this year. There were 8,500 repossessions from... Read more

Interest rates unchanged in August

The Bank of England has once again chosen to maintain interest rates at 0.5%, and has not increased its quantitative easing (QE) programme. The decisions were widely expected as an increase... Read more

Launch of scheme to increase bank lending

A new initiative to increase bank lending to homeowners, home purchasers, and businesses, has been launched, with some of the biggest lenders already cutting the cost of some of their... Read more

Property prices drop in July

Property prices dropped again in July according to one of the first reports to emerge on the performance of the property market last month. The figures released by Nationwide building society... Read more

UK interest rates remain unchanged

The Bank of England has confirmed that there will be no change to the current 0.5% rate of interest after the monthly meeting of the Bank's Monetary Policy Committee (MPC). It... Read more

Fixed mortgages offer lowest rate in two years

Borrowers in Northern Ireland and the rest of the UK are currently offered five-year fixed mortgages at their lowest average rate since April 2010. Two years ago, the average rate for... Read more

Interest rates to stay frozen for years

Financial experts and economists are saying that interest rates could remain frozen at their current rate of 0.5 per cent into 2014 and beyond. A member of the Bank of England... Read more

UK interest rates to stay at record low

As expected, the Bank of England Monetary Policy Committee has announced that interest rates are to continue at their record low of 0.5% - originally set in March 2009. There is... Read more

Northern Ireland house prices at 2004 levels

A new report by Halifax suggest house values in Northern Ireland have declined down to 2004 levels, and now stand at a half of what they were worth during the... Read more

Over half of UK homeowners have never remortgaged

Research carried out by Barclays has revealed that 58% of homeowners in Northern Ireland and the rest of the UK have never changed their mortgage outside of a house-move, and... Read more

NI mortgage debt up by 1801 per cent

New figures released from the Citizens advice bureau (CAB) show the extent of the increase in mortgage arrears in Northern Ireland over the last few years. The CAB figures show... Read more

Mortgage lending bounces back in August

The Council of Mortgage Lenders (CML) has confirmed that mortgage lending across the UK increased by 6% in August compared to the previous month. July had been a surprisingly poor... Read more

Mortgage arrears fall back to 2008 levels

New figures released by the Financial Services Authority (FSA) show that mortgage borrowers are winning the fight against arrears and repossession, as the number of people falling into difficulties with... Read more

No change to UK interest rates

As expected, the Bank of England's Monetary Policy Committee (MPC) has today announced that there will no be change to the current record 0.5% rate of interest. The decision to continue... Read more

No sign of increase in mortgage lending

New figures from the Council of Mortgage Lenders (CML) show that mortgage lending fell slightly in July, down 1% compared to the previous month, and 6% down on July 2010. A... Read more

Lender tolerance of arrears creating fools paradise

Director of Obligo.co.uk says that the record low interest rates and "remarkable forbearance" by lenders have together "created a fool's paradise, where people's mortgage payments are comparatively low and lenders... Read more

Low interest rates keep repossessions down

The Council of Mortgage Lenders (CML) says that the number of cases of mortgage arrears and repossessions have been kept in check by the continuing record low interest rates. Figures show... Read more

Nearly a million householders in negative equity

New figures produced by the Council of Mortgage Lenders (CML) in respect of the first quarter of this year suggest that nearly a million householders in Northern Ireland and the... Read more

Mortgage lending down in April

Figures released by the British Bankers' Association (BBA) show a drop in mortgage approvals for house buyers and existing home-owners wanting to change to a different mortgage product. The extended bank... Read more

Remortgages up due to interest rate increase fears

There was a 16% increase in remortgage loans in March according to the Council Of Mortgage Lenders (CML), and it believes that a fear of an iminent increase to the... Read more

No change to UK interest rates

The Bank of England Monetary Policy Committee (MPC) has again voted to maintain interest rates at their record low of 0.5%, in a move which was widely predicted by economists... Read more

No change to MPC member votes on interest rate rise

Every month the minutes of the Monetary Policy Committee (MPC) meeting are anticipated with as much interest as the actual decision announcement on interest rates at the start of the... Read more

First time buyers pay 558% more than parents did

A study conducted by SHIP has revealed that the current crop of first-time buyers will have to pay 558% more than their parents paid for their first house in order... Read more

Rush to remortgage over interest rate fears

Bank of England figures for February show an increase of 5% in mortgage approvals for existing home owners, taking the remortgage rate to a 26-month high, and 35% higher than... Read more

Inflation revives interest rate hike speculation

News that inflation rose to a 28-month high of 4.4% in February immediately rekindled speculation that the Bank of England will have to increase interest rates. The economy has been... Read more

Cost of fixed mortgage deals on the increase

Mortgage brokers are warning that the cost of fixed-rate mortgage deals are on the increase amid growing speculation that there will soon be a hike in interest rates. It is... Read more

Homeowners trusting in low base rate

Nearly half of all homeowners (48%) have not reviewed their mortgage since the base rate was first dropped to 0.5% in March 2009. The research by unbiased.co.uk suggests that the... Read more

Rising support for rates increase among policymakers

That the Bank of England Monetary Policy Committee chose to hold interest rates at their current level in their last meeting came as no surprise to commentators throughout Northern Ireland... Read more

Interest rates stay at 0.5 per cent

As expected, interest rates in the UK have been kept at 0.5% for another month by the Bank of England's Monetary Policy Committee. There was also no announcements of plans... Read more

UK interest rates held at 0.5% by Bank of England

As expected, the Bank of England's Monetary Policy Committee (MPC) has announced that there will be no change to the current 0.5% interest rates, and that there are currently no... Read more

Pensioners avoid inheritance tax by keeping mortgages

According to Lewis Hymanson Small, there is a growing trend among wealthy pensioners of deliberately maintaining a mortgage in order to avoid paying inheritance tax. A mortgage counts as debt... Read more

Homebuyers consider remortgage option

The latest John Charcol Mortgage Index suggests that homeowners are beginning to consider remortgaging their homes again after what has been a significant lull in the housing refinancing market. The... Read more

Fears spending cuts will increase repossessions

The announcement by the government that Income Support for Mortgage Interest (ISMI) is to be slashed has many industry experts predicting an increase in the number of repossessions that will... Read more

Homeowners shun spending to increase home equity

Statistics from the Bank of England have shown that home owners' equity rose by £6.2billion in the second quarter of this year. From July 1998 to March 2008 home owners... Read more

August Mortgage lending at ten year low

The Council of Mortgage Lenders (CML) has confirmed that total mortgage lending in the UK fell again for the second consecutive month in August. Lending fell by 14% from £13.3billion... Read more

Interest rates remain at record low

The Bank of England has opted to hold the UK interest rates at 0.5% for the 18th month in a row. The move was expected but each month the record... Read more

Mortgage market dip predicted by Lenders

The Council of Mortgage Lenders (CML) is predicting a drop in the mortgage market for the remainder of 2010 with activity in the market described as "subdued" compared to the... Read more

Most homeowners unaware of effect of interest rate increases

The newly formed Consumer Financial Education Body (CFEB) has released results of a survey showing that 74% of homeowners do not know how a 1% rise in the Bank of... Read more

Bank of England keeps interest rates at 0.5%

It seems along time ago since house owners and first time buyers eagerly awaited the interest rates announcement from the Bank of England. These days it is accepted as a... Read more

Mortgage overpayments doubled in 2009

Twice as many mortgage borrowers opted to overpay on their mortgage in 2009, as more and more people take advantage of the low interest rate to shorten their mortgage term. Borrowers... Read more

Interest rates kept at record low of 0.5%

The Bank of England has kept the interest rates in the UK at its record low of 0.5%; now the rate since March 2009. Analysts were not surprised to hear the... Read more

Mortgage borrowing in January hit by Stamp Duty rise

Gross lending for home loans fell by 32% to £9.1bn in January compared with December according to the Council of Mortgage Lenders. They went on to suggest that the drop... Read more

'Fewer landlords' opted for buy-to-let remortgaging in Q4 2009

Fewer landlords opted for buy-to-let remortgaging during the closing three months of last year, according to new figures. Only 30 per cent of landlords chose to remortgage their buy-to-let properties... Read more

Good news for first time buyers as 90% mortgages start to return

January saw mortgage rates on tracker deals reach a record low according to figures released from the Bank of England. The lower rates are however offered to those with larger... Read more

Interest rates remain frozen for 11th consecutive month

The Bank of England has voted to maintain the base rate at the record low of 0.5% for the 11th month in a row. The Monetary Policy Committee (MPC) cited... Read more

'Considerable' house price rises seen in last decade

The houses prices seen across the UK in the past decade grew by a substantial amount, new research has shown.Between the final three months of 1999 and the same period... Read more

More protection promised for borrowers in arrears

The Financial Services Authority (FSA) has announced that it will offer greater protection for borrowers who have fallen into difficulties keeping up their monthly mortgage payments. The financial watchdog has... Read more

Rise in use of credit cards to pay mortgages

A survey conducted by housing charity 'Shelter' has found that approximately 6% of UK households, equating to around 1 million families, have used credit cards to pay their mortgage or... Read more

Rics event to address Northern Ireland housing sector

The housing sector in Northern Ireland will be the subject of a forthcoming event in Belfast which is to be launched by the Royal Institution of Chartered Surveyors (Rics).Set to... Read more

Large deposits 'still having an impact' on first-time buyers

A number of potential first-time buyers in the UK may be struggling to gain access to the property ladder because of the large deposits that they are expected to provide,... Read more

Lenders get ready to push up mortgages rates

Lenders operating across Northern Ireland and the rest of the UK are expected to follow the path of Marsden Building Society, a small lender operating in the North-West of England,... Read more

Mortgage borrowers focus on increasing equity by overpaying

Quarterly estimates from the Bank of England show that between July and September mortgage borrowers reduced their home loans by £4.9 billion. For the sixth successive quarter borrowers repaid more... Read more

UK mortgage regulation 'should not harm housing market'

The Financial Services Authority (FSA) should ensure that it does not harm the UK's housing market if it decides to introduce any further mortgage regulations in the near future, it... Read more

Renting 'may be a better option' for some first-time buyers

Some prospective first-time buyers in the UK might find renting a more cost-effective option, an expert has claimed.Lucian Cook, director of residential research at the real estate firm Savills, believes... Read more

Homeowners continue to stay clear of fixed rate mortgages

November saw the number of homeowners choosing a fixed-rate mortgage fall to its smallest market share for just over 12 months despite Lenders cutting their rates over the last few... Read more

Property ownership 'proving less important' to Britons

British people may currently be less interested in the concept of acquiring their own property, compared to the attitudes of previous years, new research has suggested.When it comes to the... Read more

End of Stamp Duty holiday 'may affect UK housing market'

The UK's housing market has displayed recent signs that it may be recovering steadily, according to one expert.Peter Bolton King, who acts as the National Association of Estate Agents' chief... Read more

UK's first-time buyers 'able to access more borrowing products'

The UK's housing market may see further signs of improvement if first-time property buyers are given more opportunities to borrow money, it has been suggested.There has been an 18.3 per... Read more

People 'often looking to move' because of neighbours

A number of people have recently looked to move to a new property because they find their neighbours to be annoying, new research suggests.In the past two-year period, figures published... Read more

Pre-Budget Report 'should support' first-time buyers

The government should offer more support to first-time buyers in its forthcoming Pre-Budget Report, one organisation believes.According to the Association of Mortgage Intermediaries (AMI), the report should ensure that Shared... Read more

Research shows property price increase for fourth month in a row

Housing Intelligence group Hometrack has said that house prices rose by 0.2% in November 2009 across England and Wales. The group were careful however to temper the results of their... Read more

October Mortgage approvals doubled compared to last year

Mortgage approvals in October rose by 98% against the same month last year according to the British Bankers' Association (BBA). It should be remembered that this time last year approvals... Read more

Buy-to-let investors 'should carefully research properties'

People considering entering the UK's buy-to-let market should conduct thorough research before opting to invest in any properties, it has been claimed.Following recent figures published by moneyfacts.co.uk, which suggested that... Read more

CML reduces UK repossession predictions

The number of repossessions in the UK this year will not be as high as originally predicted, according to the Council of Mortgage Lenders (CML).It now expects to see 48,000... Read more

Q3 sees 'confidence grow' among many UK landlords

A number of UK landlords are feeling more confident about their prospects for the future, according to third-quarter statistics released by Paragon Mortgages.The firm's PRS Trends report for the latest... Read more

Amateur landlords 'often forced to leave' UK rental market

A number of amateur landlords have had to leave the UK's rental market in recent months due to falling property values, an expert suggests.Survey results published by the Association of... Read more

Future mortgage borrowers set for 'affordability tests'

People looking to take out home loans may face affordability tests in the future as part of new mortgage reforms proposed by the Financial Services Authority (FSA). The organisation, which... Read more

CML: UK house purchase lending more stable

UK house purchase lending has shown recent signs of improvement, according to one industry body.The Council of Mortgage Lenders (CML) suggests that the number of house purchase loans seen in... Read more

BPF: Buy-to-let mortgages need more regulation

Buy-to-let mortgages should be better regulated in the UK in order to offer more support to the housing market, it has been suggested.According to the British Property Federation (BPF), the... Read more

NI house prices 'saw third quarter improvement'

House prices in Northern Ireland saw a large increase during the third quarter of 2009, new figures suggest.Research published by Nationwide shows that all UK regions witnessed a rise in... Read more

UK gross mortgage lending 'hit by seasonal decrease'

Gross mortgage lending in the UK was affected by a seasonal decrease in demand in August, an industry body suggests.Figures published by the Council of Mortgage Lenders (CML) reveal that... Read more

Research reveals 'weak' remortgaging figures

Levels of remortgaging in the UK were "unsurprisingly weak" during July, according to the Council of Mortgage Lenders (CML). New figures from the body have revealed that the number of... Read more

Northern Ireland sees small signs of housing recovery

The Northern Irish property market is showing signs of a tentative upturn, according to new figures.A study conducted at the University of Ulster highlighted that house sales rose between April... Read more

Consumers 'making a bet by remortgaging'

The decision of many property owners in the UK and Northern Ireland to consider remortgaging has been described by an expert as "a bit of a bet". Figures from the... Read more

Mortgage approvals edge up but lending capacity could hamper growth

Mortgage approvals for house purchases in Northern Ireland and the rest of the UK continued to rise last month, according to data from the Bank of England, which showed the... Read more

Overvaluation of property can cause problems when remortgaging

Solicitors in Northern Ireland may want to advise their clients to ensure that their properties are properly valued following the publication of new figures showing many homeowners do not know... Read more

Repossessions in Northern Ireland rising

Repossessions in Northern Ireland have jumped by 35 per cent in the first three months of this year, plunging more people in the province into misery, according to figures from... Read more

Homeowners urged not to fall for 'headline-grabbing rates'

People interested in buying residential property in Northern Ireland and other parts of the UK have been advised not to fall for "headline-grabbing" mortgage rates.This is because such rates appear... Read more

New HMS scheme to help homeowners avoid repossession

Ulster Bank in Northern Ireland is among lenders that are supporting a new government initiative designed to ensure homeowners keep their residences even if they lose their source of income.The... Read more

CML data shows shift from remortgaging

Remortgaging companies in Northern Ireland are likely to feel the pinch as as new figures from the Council of Mortgage Lenders (CML) indicate that remortgaging declined in February.The CML data... Read more

Mortgage backed securities should be given guarantees

The government has been urged to provide guarantees for mortgage backed securities dealing with residential mortgages in a bid to help first-time buyers in Northern Ireland and the rest of... Read more

Mortgage Intermediaries urge government to act on lending

The Intermediary Mortgages Lenders Association (IMLA) has called on the government to "put its money where its mouth is" if it expects to see any positive news on the home... Read more

Mortgage landscape 'reshaped' in 2008

Remortgaging firms in Northern Ireland and others across the UK have seen a sharp decline in mortgage lending activity in the past year, which has reshaped the mortgage landscape.This has... Read more

Rate cuts unlikely, public thinks

There is widespread speculation among experts that the Bank of England is due to drop interest rates further but many Brits are of the opinion that this is unlikely, solicitors... Read more

First-time buyers struggle with mortgage jargon

First-time buyers may find it in their interest to buy property with the help of a solicitor following revelations that many budding investors find it difficult to master mortgage-related jargon.In... Read more

Homeowners urged to consider mortgage overpayment

Solicitors in Northern Ireland may be interested to know that homeowners can protect the equity of their investments in the short term by opting for overpayment of mortgages.This is the... Read more

Homeowners urged to consider mortgage overpayment

Solicitors in Northern Ireland may be interested to know that homeowners can protect the equity of their investments in the short term by opting for overpayment of mortgages.This is the... Read more

It pays to shop around, investors advised

Solicitors in Northern Ireland may want to advise their clients to survey the market and shop around for the best mortgage deals, which can throw up a pleasant surprice, it... Read more

It pays to shop around, investors advised

Solicitors in Northern Ireland may want to advise their clients to survey the market and shop around for the best mortgage deals, which can throw up a pleasant surprice, it... Read more

Rate cut a 'double edged sword'

The flow of mortgages may be negatively affected by the Bank of England's decision to drop interest rates to 1.5 per cent, the lowest in its 300 year history, an... Read more

Rate cut a 'double edged sword'

The flow of mortgages may be negatively affected by the Bank of England's decision to drop interest rates to 1.5 per cent, the lowest in its 300 year history, an... Read more

Lenders 'not unwilling' to provide products

Mortgage lenders in Northern Ireland and other parts of the UK are not facing mortgage scarcity due to unwillingness by lenders to provide products, the Council of Mortgage Lenders (CLM)... Read more

Lenders 'not unwilling' to provide products

Mortgage lenders in Northern Ireland and other parts of the UK are not facing mortgage scarcity due to unwillingness by lenders to provide products, the Council of Mortgage Lenders (CLM)... Read more

Mortgage lending increases marginally in November

New data shows that net mortgage lending by building societies registered a marginal £9 million increase from October's £413 million but still fell way below the 2007 figure.According to the... Read more

Market recovery: Lenders and consumers hold key

The next 12 months could make or break the UK housing market and mortgage lenders and consumers hold the key to recovery, solicitors in Belfast may want to know.According to... Read more

'Challenging' mortgage market expected in 2009

People in Northern Ireland who remain in employment next year stand to benefit from lower mortgage rates, which are likely to be available, according to the Council of Mortgage Lenders... Read more

Mortgage brokers accessing better deals

New data indicates that the number of mortgage brokers unable to assist clients because of lenders offering better deals directly has decreased, solicitors in Northern Ireland may want to know.According... Read more

Lenders harming market by holding back, expert says

Mortgage lenders are harming the residential and commercial property market by being cautious despite government efforts to ensure there is money in mortgage markets, it has been claimed.Solicitors in Belfast... Read more

Repossessions and arrears continue to build up

Buy-to-let property investors in Northern Ireland may be facing a bigger problem with arrears and repossessions, according to new data from the Council of Mortgage Lenders (CML). Solicitors in Belfast... Read more

NI borrowers still out in the cold on mortgages

Borrowers in Northern Ireland are yet to benefit from moves by the Bank of England to kick start the economy by slashing the base rate in recent weeks, according to... Read more

Data shows increasing 'mortgage gap'

In news that may be of interest to solicitors in Northern Ireland, research has revealed the existence of a "worrying mortgage gap" arising from millions of interest-only mortgages.Some 45 per... Read more

Equity may be necessary for competitive mortgages

Northern Ireland homeowners about to end their current mortgage deals may find themselves having to consider equity introduction in order to secure a competitive rate, it has emerged.Despite recent government... Read more

Interest only payments could help struggling homeowners

Solicitors in Northern Ireland should advise their clients to talk to their lender "sooner rather than later" about interest only payments, if they are having any difficulty with their payments.Homeowners... Read more

Number of people taking out mortgages drops

Recent figures from the Council of Mortgage Lenders (CML) have shown that lending for home purchases has dropped by 63 per cent over the past year.In August of this year,... Read more

New law hopes to end 'studentification' of towns

A new law which is to be proposed could end the so-called "studentification" of some towns, in news that may be of interest to solicitors.The new plans are designed to... Read more

Properties drop in price in Northern Ireland

Property prices are falling rapidly in Northern Ireland, according to the Financial Times.Since 1998, average house prices in Northern Ireland have risen by 240 per cent, but since 2006 the... Read more

Lack of Hips 'breaking law'

A number of estate agents are breaking the law by failing to provide home information packs (Hips) to buyers, it has been claimed.The Law Society believes potential buyers are often... Read more

Remortgaging sector 'bouyant'

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... Read more

Buyers on look out for environmental homes in Northern Ireland

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... Read more

Supply and affordability "challenges" for borrowers in Northern Ireland

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... Read more

House prices fall by 2.4% in a month

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... Read more

Plan to help Northern Ireland homeowners in danger of repossession

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... Read more

A quarter 'trapped' in their current homes

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... Read more

Mortgage approvals at record low

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... Read more

House prices falling at 1990s levels

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... Read more

Northern Ireland houses to need energy certificate

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... Read more

Weak housing market benefiting buy-to-let

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... Read more

Increased demand for five-year fixed-rate mortgage

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... Read more

Mortgage lending dealt with by Northern Ireland solicitors on the up

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... Read more

Endowment mortgage shortfall expected

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... Read more

Personal bankruptcies 'could rocket'

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... Read more

Interest rates decision 'disappointing' for homeowners

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... Read more

Interest rates kept at 5%

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... Read more

UK market may slow but 'recession unlikely'

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... Read more

House prices in Northern Ireland 'set for big drop'

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... Read more

House repossession 'can happen sooner than expected'

Repossession of houses by lenders can happen within as little as three months after the first warning, according to the Repossessions Advice Centre (RAC).Solicitors in Northern Ireland can help people... Read more

Northern Irish towns head property hotspot list

House prices in Lisburn, Craigavon and Ballymena have risen faster than almost anywhere else in the UK in the last five years. Recently published official figures put the rate of... Read more

Further interest rate cuts 'needed'

Further interest rate cuts are needed if the UK is to alleviate some of its economic difficulties, according to one expert.Katie Tucker from the mortgage brokerage John Charcol is convinced... Read more

Green mortgage demand 'will stagnate'

Solicitors in Belfast and Northern Ireland seem unlikely to see demand for advice on green mortgages climb significantly in the coming months as the effect of the credit crunch takes... Read more

Longer mortgage deals forecast in Budget speech

First time buyers in Belfast and Northern Ireland could be given longer mortgage deals in future, thanks to proposals expected to be announced in the chancellor of the exchequer's first... Read more

Buy to let still booming

Solicitors in Belfast and Northern Ireland are likely to witness a steady stream of buy to let investors seeking advice in the coming months as new figures show the sector... Read more

Mortgage holders feel 'out-of-control'

Solicitors in Belfast and Northern Ireland could be forced to pursue more mortgage holders for debt this year, as many admit that they feel out-of-control of their repayments.According to the... Read more

'No relief' for mortgage holders

Solicitors in Belfast and Northern Ireland are unlikely to see an increase in people buying property as most experts think the Bank of England monetary policy committee (MPC) will leave... Read more

Northern Rock 'should have been a clue'

Despite the credit crunch, solicitors in Belfast and Northern Ireland have still seen buy-to-let investors taking out mortgages, but one expert says perhaps they have been unwise.Solicitors will remember the... Read more

Portfolios 'help with future purchases'

Solicitors in Belfast and Northern Ireland are likely to see landlords who already have a portfolio of properties finding it easier to get a mortgage than new landlords.While solicitors are... Read more

Surge in tracker mortgages

Solicitors in Belfast and Northern Ireland could see more people taking out tracker mortgages after this type of deal is growing in popularity.Although only around a quarter of homebuyers in... Read more

Younger buyers stumble on property ladder

There is every likelihood that solicitors in Belfast and Northern Ireland will see fewer young buyers embarking on the property ladder after mortgage providers are withdrawing deals.Solicitors in Belfast and... Read more

NI homes are 'equity goldmine'

People in the Northern Ireland could capitalise on the increased value of their homes using equity release, according to research Norwich Union.Figures from the firm revealed that the average house... Read more

Professionals offered more in a mortgage

While solicitors in Belfast and Northern Ireland will see many clients struggling to get onto the property ladder due to high house prices and tighter lending, solicitors themselves are favoured... Read more

Lenders 'still supporting' new buyers

After the global credit crunch has seen mortgage lenders withdrawing some of their products, experts say it may not be the case that solicitors in Belfast and Northern Ireland will... Read more

Older homeowners strike gold

Solicitors in Belfast and Northern Ireland could see older people prepared to sell up their family home in order to release a massive amount of cash.People in their 60s could... Read more

NI property to 'thrive' in 2008

Solicitors in Belfast and Northern Ireland may have worried that - given the high property prices in the province - people would stop buying homes, but experts predict a good... Read more

Mortgage payments rise by 20%

Clients of solicitors in Belfast and Northern Ireland will have seen an extra £135 on their monthly mortgage repayments, as borrowing has been shown to cost 20 per cent more... Read more

£60k saving for remortgaging

Solicitors in Belfast and Northern Ireland could see more of their clients looking to remortgage after a lender has claimed that this could cut as much as £60,000 off their... Read more

Joint mortgages offer a helping hand

Solicitors in Northern Ireland could see more people splitting their mortgage between two or more parties, as experts say this may be the only way for first-time buyers to get... Read more

Let-to-buy mortgages 'suit slowing market'

Solicitors in Belfast and Northern Ireland could see more people taking out let-to-buy mortgages, as industry experts have claimed they are useful when the housing market is slow.As property prices... Read more

Consumers to be hit by repossessions

Solicitors in Belfast and Northern Ireland could be pursuing record numbers of people for debt in the New Year after experts predict that repossessions will be on the rise.Belfast solicitors... Read more

Christmas could see increase in NI debt

Solicitors in Belfast and Northern Ireland could be forced to pursue more people for debt in the New Year after financial advisors have claimed that Christmas spending could push consumers... Read more

Property price inflation still holding in Northern Ireland

Northern Ireland has continued to see some positive property price inflation, according to a new report, although it is down significantly on past growth.Figures from the Chesterton meta-index have suggested... Read more

Double-edged sword for homebuyers

Solicitors in Belfast and throughout Northern Ireland will see both costs and benefits for new buyers next year as experts predict a 'double-edged sword' in property in the province.According to... Read more

First timers going for a fix

Solicitors in Belfast and Northern Ireland are more likely to see clients taking out longer-term fixed rate mortgages as these deals have proved "increasingly" popular in recent years.According to Mortgage... Read more

Rate cut could boost NI property

The monetary policy committee's (MPC) decision to cut interest rates by a quarter point could mean that solicitors in Northern Ireland see more clients making property purchases.If experts are to... Read more

Credit crunch squeezes lending market

Solicitors in Northern Ireland may see fewer clients who are taking out adverse credit mortgages, after lenders have tightened their lending criteria or withdrawn mortgages for those with an impaired... Read more

New bathrooms boost house prices

Solicitors carrying out conveyancing work in Northern Ireland may see a lot of new bathrooms being added to properties in the province of late, as the National Home Improvement Council... Read more

Experts urge mortgage-payers to shop around

Financial advisors have urged people in Britain and Northern Ireland to consider switching their mortgage provider, after a survey revealed that many borrowers had never reviewed their deal.A poll by... Read more

First-time buyers enjoy gap in housing market

Solicitors in Northern Ireland may see a rush of first-time buyers squeezing onto the property ladder, as estate agents claim that the market is prime for new buyers in the... Read more

NI housing market sees battles

The chaotic situation in the province's property market means that Northern Ireland's solicitors will witness an increasing number of people turning to underhand methods to secure the best deals.While during... Read more

NI economic growth means property still popular

Solicitors in Northern Ireland may see more clients than they had expected buying property in the province in spite of the market slowdown, it has been suggested.The recent dropping off... Read more

Affordable mortgage most important for buyers

The most savvy property buyers that solicitors in Northern Ireland will see will have chosen a mortgage that they can afford, as financial advisers Key Financial Consultants has said this... Read more

Self-cert borrowers 'should seek advice'

Self-employed people in Northern Ireland who want to take out a mortgage but have no proof of fixed income could benefit from a self-cert mortgage, but should always visit solicitors... Read more

NI sees 'negative' house price growth

Solicitors in Northern Ireland may finally see more first time buyers trying to get onto the property ladder as most house prices are remaining static or have dropped in the... Read more

NI mortgage lending tails off

The number of new mortgages being taken out in Northern Ireland has dropped quite dramatically the BBC reports, which points to the final cooling of the housing market. According to... Read more

Life changes fuel endowment sales

New research has shown that the most common reasons for selling an endowment policy in Northern Ireland are those which involve solicitors.According to aap, the endowment policy company, divorce settlements... Read more

Estate agents see tough times ahead

Estate agents are predicting continued difficulties in the property market in Britain and Northern Ireland, according to new research.Figures from a number of analysts have shown that property price rises... Read more

Debt likely to escalate

After the latest interest rate hike and another predicted to be on the way, mortgage-payers in Britain and Northern Ireland could face more debt judgements.Following the spate of interest rate... Read more

Lending fell by 6% in August

Solicitors may have recently seen less people who were prepared to take out a mortgage, as gross mortgage lending fell by six per cent in Britain and Northern Ireland during... Read more

Buy-to-let mortgages safe as houses

Commercial investors in buy-to-let property in Britain and Northern Ireland should not be affected by a drop in tenant numbers, despite the housing market continuing to cool, experts have said.According... Read more

Lending fell by 6% in August

Solicitors may have recently seen less people who were prepared to take out a mortgage, as gross mortgage lending fell by six per cent in Britain and Northern Ireland during... Read more

Buy-to-let mortgages safe as houses

Commercial investors in buy-to-let property in Britain and Northern Ireland should not be affected by a drop in tenant numbers, despite the housing market continuing to cool, experts have said.According... Read more

NI housing market still healthy

Experts on the property market in Northern Ireland say they are still confident in "healthy" growth in house prices and have dismissed fears that recent acceleration in prices will lead... Read more

NI housing market still healthy

Experts on the property market in Northern Ireland say they are still confident in "healthy" growth in house prices and have dismissed fears that recent acceleration in prices will lead... Read more

Rate rises push up repossessions

The number of repossessions in Britain and Northern Ireland has increased by 32 per cent since April, according to a new report.The Royal Institute of Chartered Surveyors (Rics) has revealed... Read more

Rate rises push up repossessions

The number of repossessions in Britain and Northern Ireland has increased by 32 per cent since April, according to a new report.The Royal Institute of Chartered Surveyors (Rics) has revealed... Read more

NI property market hardly cooling

Despite the fact that analysts have predicted a cooling of the property market in Northern Ireland, solicitors will know that clients are still being squeezed, and new research has now... Read more

FTBs spaced out

There is an increasing trend towards first-time buyers (FTBs) purchasing smaller properties in an attempt to get onto the property ladder, research from GE Money Home Lending and the Future... Read more

University cities bolster property prices

Property prices in university towns cities are leading the increase in inflation of Northern Ireland's housing market, with Belfast topping the table for fastest rising prices.With Belfast offering two campuses,... Read more

NI property prices break records again

House prices in Northern Ireland have again gone through the roof, with increases in the cost of buying a home in the province breaking new records.According to a housing survey... Read more

NI sees less mortgage debt

Solicitors in Northern Ireland will be seeing fewer debt recovery cases that relate to mortgage repayments, as repossessions have dropped despite over-inflated house prices in the province.According to 4NI, figures... Read more

Mortgage misery as MPC hikes rate

Thousands of mortgage holders across Britain and Northern Ireland will be facing higher repayments after the Bank of England's monetary policy committee (MPC) announced that the interest rate would rise... Read more

Rocketing property prices cripple NI incomes

With the housing boom being felt most in Northern Ireland above all other countries in Great Britain, people in the province are feeling the effects on their wallets more than... Read more

New laws allow access all areas

Prospective landlords with a commercial property in Britain or Northern Ireland will be forced to build ramps and lifts to accommodate disabled tenants under new legislation.Both new and existing landlords... Read more

NI homebuyers offered fewer mortgages

Despite the thriving housing market in Northern Ireland, where prices are still rocketing and demand is high, people in Northern Ireland have less choice when it comes to mortgages, research... Read more

Repossessions drop in spite of spiralling prices

Repossessions as a result of people defaulting on their mortgage payments have dropped in Northern Ireland during the first quarter of 2007.Although people are taking out larger value mortgages due... Read more

Mortgage approvals expected to fall

Experts have begun predicting an end to the rapid property price inflation that has been seen in several parts of the UK in recent months, including Northern Ireland.Property prices have... Read more

Bank predicts NI's high house price inflation to continue

Economic experts at the Bank of Ireland have confirmed that they expect the property market in Northern Ireland to remain strong for 2007, after prices showed a 37 per cent... Read more

Seek advice before embarking on buy-to-let

New terms on buy-to-let mortgages could catch first-time borrowers out unless sage advice is sought from solicitors, warn experts.Borrowers taking up new buy-to-let loans on properties in Britain and Northern... Read more

Further interest rate rise concerns

Mortgage repayments could suffer in the near future as it has been suggested a further rates rise could be on the cards.New figures have revealed that inflation once again surged... Read more

House prices 'show signs of cooling'

New figures have suggested that property prices in Britain and Northern Ireland are beginning to cool.Despite recent data revealing that Northern Ireland's property market continues to grow at a fast... Read more

NI property prices risen most in the last decade

Prices of properties in Northern Ireland have grown more than any another region in the UK, bar London, over the past ten years, according to a new report.Halifax estate agents'... Read more

Interest rates frozen

It has been announced that interest rates will be locked at 5.25 per cent for the second consecutive month.The decision had been widely anticipated by economists, although experts have warned... Read more

Further rate rises possible

It has been suggested that the UK could see further increases in interest rates before the property market begins to cool.Solicitors in Northern Ireland have seen a major jump in... Read more

Mortgage exit fees to be paid back

Mortgage holders are set to receive a collective £200 million from lenders across the UK for charging consumers unfair fees.The Financial Services Authority (FSA) has announced that many people have... Read more

Northern Ireland house prices rocket

Solicitors in Northern Ireland have seen massive rises in property prices over the past 12 months, according to new figures.Research carried out by the University of Ulster found that house... Read more