Helping Innovate Property (HIP) – Blog, Housing Market News and Articles

After the government bail out of the UK banking system in 2009, there is a now 50% tax levy on all future bonuses. Traditionally we enter “bonus season” in Q2, we expect to see buyers to start investing from this point and despite the new tax constraint the majority of banks have announced their intent to assign significant bonuses.

However, it is estimated that the bonus payments will be lower than in previous years and a larger proportion of payments will be made in shares and other types of investments. Looking to 2010, it is yet to be apparent what extent this will negatively affect sales volumes. In essence, bonus money will continue to play a central factor in the housing market and many cash rich individuals will still invest in the UK and abroad.

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Since the economy entered into recession what seems like an age ago, the knock on effect to private landlords has been felt across the whole country.

According to telegraph.co.uk the number of Buy-to-Let repossessions doubled over the last year as tenants experienced difficulties in keeping up with the monthly rental payments.

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Nationwide have published their monthly report stating that house prices have risen for the fourth consecutive month. In August, it is claimed that we have seen property prices increase by 1.6% making the average house price in the country £160,000. However, is this the recovery most are looking for?

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Nationwide Building Society has announced that it is cutting the price of many of its fixed and tracker rate mortgages by up to 0.50%. This comes as welcome news as the banks and building societies have held what some have described as inflated rates.

With effect from 4 August 2009, will include the following:

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Nationwide building society have announced a 125% LTV mortgage in a shock move considering the current financial situation. However, the pre-requisites of the mortgage deal are quite limiting to the large majority of people searching for a mortgage and the building society have been keen to down play the ‘new’ mortgage product.

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Repaying your mortgage early can save you substantial amounts in interest payments and could be a great financial investment at present. With interest rates at their lowest in decades now maybe the time to increase your mortgage repayments or consider paying off a lump sum.

Before you arrange to make overpayments it is important to check a few details, do your homework and understand the pros and cons whichever type of mortgage you have and/or are considering.
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Recently it was reported that industry professionals are recognising the benefits of Home Information Packs (HIP). This is against the general negative slant the main stream media seem to want to promote.

HIP-Consultant.co.uk have been providing Home Information Packs for over 18 months and have witnessed numerous situations where Home Information Packs have benefitted the home buyer, home seller and the process itself. Without Home Information Packs; sales would have quite likely fallen through and at best would have held up proceedings to an extent the majority of people would be very unhappy with.

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Lloyds TSB’s (LON:LLOY) have announced a new 95% LTV mortgage product which requires a 5% deposit. By doing so it has claimed the distinction of being one of the few High Street lenders to offer such a high LTV home loans in these difficult times.

In these hard economic times, with virtually no banks offering a 95% loan to value mortgage, Lloyds TSB’s Lend A Hand mortgage scheme is a crucial step in encouraging other lenders to come out of their shells and will help attract first time buyers back into the marketplace.

For approval of Lloyds TSB’s Lend A Hand mortgage, a pre-requisite is to the holding of 20% of the mortgage value in a fixed savings account with Lloyds TSB. This feature benefits young buyers who can make use of their parent’s or other relatives’ savings to augment their deposit. While the savings will have to remain fixed for three years, Lloyds will maintain a hold on the amount until the homeowner has made enough payments to earn 10% in equity.

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In the last year the economic downturn has changed the face of the mortgage industry some claim for good. Banks and other lenders have cut mortgage lending severely and finding a mortgage is no longer an easy task.

Buying a house is one of the biggest purchases we make in our lives and picking the right mortgage is essential. Here is the conundrum: fewer lenders mean lesser choices, so in these tough economic times how do you still get the best mortgage deal. Below we will provide you with 10 valuable tips that will help guide you to your dream home and help find you a suitable mortgage.

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With a move clearly designed to inject some life into the housing market, state owned bank Northern Rock has announced that it will resume lending 90% mortgages.

Currently the chances of getting a mortgage of more the 75% are very slim and this move could be seen as a government approved display of intent. Quite how relevant it is remains questionable and many have pondered whether the announcement is more publicity stunt designed to bring back consumer confidence rather than a definite assurance of impending lending.

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The state of the UK housing market is constantly in the news at present and the latest figures on home repossessions make more depressing reading.

In the year 2008 repossessions reached the highest levels for 12 years. A staggering 54% rise in instances of homeowners losing their homes equates to 40,000 houses being repossessed.

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