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

In terms of a person’s assets, land is unique in that a debt can be secured against it without the owner giving up control of the asset. Items can of course be bought on hire purchase agreements but these remain the property of the seller until the debt is paid, and an item can be pawned but the pawnbroker will retain it pending full repayment.

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Broken Ladder: 3 years without rent, food, clothing – then you can afford a deposit.

New research out today reveals that the average first time buyer (FTB) would have to save every single penny of their earnings for more than two years to have a chance of getting a foot on the housing ladder. In London it would take three years.

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With banks gradually starting to lend again and while interest rates are still low; now could be considered a good time to be thinking about remortgaging, so as to secure a good rate of interest for a few more years.

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The state of the property market was hot news a year ago but with the general election and World Cup fever, some of the recent developments seem to have been missed by the national press. This absence is quite surprising as there has been a boost of optimism and the buy to let market has undergone a significant change led by one of the largest lenders; The Mortgage Works (TMW).

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The Right to Buy scheme, introduced under the Housing Act 1985, is a great way for council tenants to climb that all important first rung of the property ladder. It allows a qualifying tenant to purchase their council property at a significant discount.

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The government’s mortgage rescue scheme, which is not to be confused with commercial schemes which may describe themselves as mortgage rescue but are really sell to rent schemes, is a state funded, not for profit scheme which aims to help home owners stay in their homes where they would otherwise be repossessed and evicted.

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What a lender needs to do before it can repossess a property, what happens when a house gets repossessed and what to do if your home is at risk from repossession

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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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