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Property market news

Mortgage approvals plunge

Latest data from The Bank of England shows that mortgage approvals have fallen for the second successive month

House prices plummet: Nationwide

The Nationwide Price Index has revealed that house prices are falling at their fastest rate since 1991

Nationwide's lending plummets by 40%

The society lent £6.7 billion on new mortgages in the year to April 4 - 40% below the previous 12 months

If you can't sell, let your property

Homeowners struggling to sell their properties in the open market are increasing choosing to let their homes, according to the Royal Institute of Chartered Serveyors (RICS)
New Research from Alliance & Leicester suggest that mortgage brokers are perceiving a change in way their interact with clients.

Lenders not passing on rate cuts

Moneyfacts.co.uk reveal that 24 lenders haven't passed on the last rate cut to their customers by reducing their standard variable rates
Housing Minister Caroline Flint accidently lets slip that house prices will fall by 5 to 10% "at best" this year

Mortgage lending at 30 year low

New figures from the Council of Mortgage Lenders show that mortgage lending has slumped
Alistair Darling has today announced that the government will be increasing funding for debt advice organisations like the Citizens Advice Bureau

Rise in the number of repossessions

Latest figures from the Ministry of Justice show that repossessions are up 17% from last year
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