Less2sell Online Estate Agent Blog Bringing news, views and tips on the UK property market.

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Mortgage Approvals Down by 40%
2008-05-27 19:11:40
April figures for Mortgage approvals show a 40% decline in approvals on this time last year, further highlighting the effect that the credit crunch is having on the UK housing market. The Council of Mortgage Lenders has indicated that house prices in the UK could drop by 7% and the number of property transactions could fall [...] ...

Mortgage lenders leaning towards cash-laden buyers
2008-02-26 23:47:58
The credit crunch is starting to afect mortgage borrowers who are unable to muster a big deposit.  Nationwide has told its customers wanting a loan of more than 75% of the properties value that they will pay higher interest rates to reflect the increased risks involved.  Nationwide increased its mortgages for home buyers wanting to borrow [...] ...

Interest Rate Cut to 5.25%
2008-02-07 13:02:40
The bank of England today decided to cut the UK interest rate by a further 0.25% to 5.25% Related Topics Interest Rate could fall to 4% Interest rate drops by 0.25% Historical Interest rate cuts ...

Interest rates could fall to 4%.
2008-01-23 18:29:33
This year will see at least three interest rate cuts taking the interest own to 4.75%, however, if the USA enters into a recession this could fall to 4%. How! Well the Bank of England are holding back on ate cuts due to high inflationary pressure predominantly from Energy and food stuffs. However, [...] ...
Rates 

Interest Rate drops by 0.25%
2007-12-06 12:32:41
As predicted by Less2sell in our August article Interest Rate Remain Unchanged the Bank of England have today reduced interest rates by 0.25% to 5.5%. Related Links Interest Rate Remain Unchanged Pre Christmas Slowdowncomes Early UK Inflation below magical 2% level ...

Looking For A Good Deal - Tips For Homebuyers
2007-11-27 21:42:57
With the numerous stories about house prices at the moment, it’s hard to know what to believe.Whether house prices are going up, down or sideways, it makes sense to put in the hours to get the best home for you at the best price possible. Less2sell Estate Agents eluded in a previous post titled ‘Pre-Christmas [...] ...
Tips 

Pre-Christmas Slow Down Comes Early
2007-11-23 22:14:36
The latest NAEA survey has been published and Less2sell have summarised the key points from the September report below:- The number of house buyers on estate agents’ books was at its lowest for the past four years, with agents reporting an average of 282 buyers registered in comparison to the 326 recorded in October [...] ...
Christmas 

Final Phase Roll Out of HIP’s
2007-11-23 21:51:22
From the 14th December 2007 all residential properties being put up for sale will require a HIP. This latest announcement has come despite huge opposition from the industry and warnings that HIPs are seriously damaging the market. A small ray of light today is the decision to extend first day marketing until 1 June 2008. This [...] ...
Phase 

Some Long Awaited Good News for First-Time Buyers (Maybe!)
2007-10-14 22:24:10
What is good news for one person can be bad news for another. When it comes to property ownership in this country over the past decade, first-time buyers have repeatedly drawn the short straw (bad news). The housing boom that has had millions of older homeowners (good news) jumping all the way to the [...] ...
Good News  News  Time 

How to add value to your home through D-I-Y.
2007-10-14 21:44:19
A recent survey of estate agents by GE Money highlights that the right DIY project can add as much as £22,300 to the price tag of an average property. But what are the most value-adding home improvements? Less2sell estate agents believe that increasing the square footage of your property is likely to add the most value: [...] ...

Online agents call for investigation into industry competition
2007-08-24 21:51:42
The online estate agency firm Brightsale has called on the Office of Fair Trading (OFT) to investigate the issue of competition within the UK estate agent industry. The move comes soon after the website reported that several of its customers had been hit by punitive and arbitrary fee increases from a leading high-street agent. In addition [...] ...
Agents  Competition  Industry  Investigation 

Home Information Packs Extended to 3 Bedroom Properties
2007-08-17 19:01:43
 As Less2sell Online Estate Agents rightly predicted in our article on 25th June 2007 titled September start likely for Hips and three-bed homes, the government has today announced plans to extend the recent home information packs to 3 bedroom properties as of September 10th 2007. For more  information on home information packs please visit Less2sell Online Estate Agents Related Links September [...] ...
Bedroom  Information  Properties 

UK Inflation Drops Below Magical 2% level
2007-08-16 14:34:15
       Good news for homeowners with mortgages as this dramatic reduction in inflation has probably removed any potential further increases in interest rates for 2007. After last months figures, specialists where 80-90% certain of another 0.25% in interest rates, however the chances of such an increase is now less than 50%. CPI annual inflation – the Government’s target [...] ...
Magical 

Will UK house prices rise by 40% over the next 5 years?
2007-08-10 21:52:35
     Many of you will have seen today that the National Housing Federation (NHF) expects house prices to rise 40% by 2012, with the average House price then breaching £300,000. With compounding, this means an average increase of roughly 8% per year. This is in line with the long-term average, which Halifax says is 8% since [...] ...
House 

Interest Rates Remain Unchanged
2007-08-02 21:10:14
The Bank of England have held the UK interest rate at 5.75% today, however most economists are predicting one final 0.25% rise before the end of the year. Related Links Historical Interest Rate Decisions UK Interest Rate Rises by 0.25% ...
Rates 

Advice on Selling your Home Safely
2007-08-01 22:13:18
Showing your home is a vital element of the selling process. The latest figures from Less2sell Online Estate Agents  suggest that you can expect an average of twelve viewers through your door before you confirm a sale. However, inviting so many strangers into your home could place you in a vulnerable position.    It is with this in [...] ...
Advice  Safely 

Home Information Packs Have Arrived
2007-08-01 09:15:24
Finally after the embarassing last minute u-turn in May, HIP’s are here.  As of today, home owners puting their 4 bedroom or more properties on the market will have to get a HIP. If you are thinking of selling your home or you require further information on HIP’s including what’s in a pack, pricing of HIP’s and [...] ...
Information 

House of Lord’s Abolish Home Information Packs
2007-07-20 21:50:42
Peers have voted in favour of the Conservative motion for the Government to revoke the Home Information Pack Regulations 2007 and the Housing Act 2004.Whilst on the face of it, this vote again shows that their Lordships remain unconvinced that HIPs are the way forward, it should be remembered that the Governement can totally ignore the [...] ...
House  Information 

Agents Report a Buoyant UK Residential Letting Market
2007-07-14 21:49:20
Affordability issues have and still do contribute to the strong home rental conditions that we are seeing are the moment. According to the latest figures released by the National Association of Estate Agents, demand for rental property continues.  The increase in Eastern European immigration, good employement conditions and the demand from those who cannot afford to buy [...] ...
Agents  Letting  Market  Report 

Fixed or Variable Mortgage?
2007-07-14 21:33:07
As Less2sell Online estate agents have reported previously, interest rates are on the rise.  The Bank of England have increased the interest rate 5 times (see our historical interest rate page for actual increases) since August 2006 to try and controll the UK inflation.  So, does it make sense to avoid the pain of future rate [...] ...
Fixed  Mortgage 

Seven Simple Tips to Increase Your Chances of Selling Your Home
2007-07-06 12:14:11
Studies show that most home buyers make their minds up about a property within the first seven seconds.  So if you’re thinking of selling your home, it’s vital that you make a good first impression. A clean and tidy interior often reflects well on the rest of the property being sold and could be the key [...] ...
Tips 

UK Interest Rate Rises by 0.25%
2007-07-05 13:33:51
The Bank of England has raised the interest rate by 0.25% to 5.75% today. ...

Beginners Guide to Predicting the Outlook for the Housing Market
2007-07-04 15:47:57
Everyone who is involved with property knows that it is extremely difficult to predict its future.  So why am I bothering writing a post about it!  I would like to impart a bit of knowledge on the 5 key drivers that affect the market.  Even with these key drivers, it is still difficult to estimate [...] ...
Guide  Housing  Market  Outlook 

UK Housing Market Shows Signs of Slowing Down
2007-07-02 21:50:30
U.K. house prices rose in June at the slowest pace since December as higher interest rates deterred buyers, according to the latest figures.The average cost of a home in England and Wales increased 0.3 percent from May, to £176,100 , matching the rate of increase in December 2006. A survey conducted by Bloomberg News Survey stated that the Bank of England will raise interest rates on July 5 from the current six-year high, according to 53 out of 60 economists surveyed.  If this is so then the housing market will continue to slow down. Less2sell estate agents have seen faltering demand for properties resulting from an increases in interest rates and the rush to market properties before 1st June in anticipation of the introduction of Home Information Packs.  A fifth interest -rate increases (which we at Less2sell feel is 90% possible) since August to 5.75 percent and the prospect of further rises are keeping prospective buyers out of the market. The annual rate of growth fell ...
Housing  Market  Signs