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Monthly house prices down in England and Wales by 2 per cent in February, according to the latest figures from Land Registry. The average house price is now ?153,862 which represents an annual decrease of 16.5 per cent. In London the average price has fallen by 15.6 per cent in...

The latest FSA mortgage lending data shows that gross new lending falls by 48% in the year to 2008. The data for the final quarter of last year, shows that new lending peaked in Q3 2007 at ?102 billion before declining to ?45 billion in Q4 2008, leaving gross lending 26% lower in...

Sellers across all ranges of property are too optimistic on prices, according to the National Association of Estate Agents? (NAEA) latest property analysis. The analysis shows that whilst small, two bedroom homes did actually rise in value between January and February, along with...

The recent cut in interest rates to 0.5% last week is causing controversy and mortgage experts slammed the decision as some tracker rates fall to 0%. Yet for thousands of borrowers with tracker mortgages interest rates have fallen to 0%, with a fall of over 4.5% in the last 6...

Homeowners face having to pay hundreds of pounds extra because Home Information Packs (HIPS) could be out of date by the time their properties are sold, MPs say… The packs, which cost on average ?350, were introduced last year by the Government to improve and speed up the...

The BOE drops rates paid on commercial bank reserves to all time low 0.5% from 1%. The Committee also voted to continue with its programme of asset purchases totalling ?175 billion financed by the issuance of central bank reserves.

Northern Rock repossessions up Northern Rock saw repossessions jump by 63% in 2008, while making a ?1.4 billion loss It held 3,620 repossessed homes at the end of 2008, up from 2,215 a year earlier but lower than the 4,201 it held at 30 September 2008. The nationalised bank has...

According to figures released today by Nationwide the average price of a house prices retreat from ?150,501 to ?147,746 in February, which represents a decline of 1.8% for the month and 17.6% over the last year. Commenting on the figures Fionnuala Earley, Nationwide’s Chief...