Mortgage Lending at its Lowest Level for a Decade

Mortgage lending has fallen to its lowest level in a decade with lending in April falling to £10.3 billion a 12% fall from March and the lowest April total since 2000. This trend was show in the figures for the first quarter of 2010 where just 112,000 loans were advanced compared with 171,000 in the last quarter of 2009.

High deposit requirements for first-time buyers are being blamed for the low level of advances with an average 24% deposit being put down by first-time buyers. Commentators have warned of a chronic under-supply of credit for many years yet.

Have House Prices Reached Their 2010 Peak?

Interesting article in The Daily Telegraph suggesting that if you are looking to sell you house this year, do it within the next few weeks as there will not be a better time this year.

The article notes a number of areas that could help suppress house prices including the scrapping of HIPs last week, which could increase the supply of houses on the market as more people test the market and tax rises for many people in next month's budget and general economic uncertainty, that may deter buyers. The article also says that the Football World Cup and the onset of summer means that the next few weeks could be the best time to sell your house.

Savills sees turnover remaining low, and the increasing supply on the market, sees prices falling in some areas.

So the message is, if you're thinking of selling, don't wait around and certainly don't wait for the autumn.

If you miss this opportunity, or if you need to sell quickly and don't want to rely on an estate agent, then call Quick Move Now, the UK's leading professional house buying company on 0800 068 3366.

Capital Gains Tax Changes to Hit 2nd Home Owners

Within the new Government's emergency budget, to be held in June, are likely to be Capital Gains Tax (CGT) changes that are going to hit 2nd Home owners and buy-to-let investors. All expectations are that CGT rates will rise from the current 18% to 40% or 50%.

If you are a buy-to-let investor and want to sell prior to the emergency budget, you need to move quickly. Call Quick Move Now on 0800 068 3366 and see how we can help sell your house quickly.

HIPs Scrapped From Today

The new government has suspended the use of Home Information Packs (HIPs) from today. From now, just the energy performance certificate will be required and will need to be produced by a seller within 28 days of them putting their house on the market.

In our opinion, HIPs never tackled the real issues in the housing market that they were supposed to address and instead, they were just another expense and major block for people wanting to sell their house. They also helped to restrict the supply of property, thereby even forcing up prices.