Concerns over the funding gap

Mortgage market remains stuck in the doldrums

Mortgage lenders have warned once more of the funding gap they face which may impact on the property market for years to come. The Council of Mortgage Lenders (CML) revealed gross lending in the first three months of this year was the lowest since early 2000. While house prices may be rising rapidly in some areas, gross lending of £29.5bn is down 9 per cent on the same period a year ago.
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Fixed-rate mortgages

Guaranteeing your monthly repayments

With a fixed-rate mortgage, you have the guarantee that your monthly repayments will not change for a set period of time, most commonly 1, 2 or 5 years although other fixed terms are available. However, if you choose a variable rate mortgage your repayments could change. There are two types: tracker mortgages are linked to the Bank of England base rate. Discounted mortgages are linked to the lender’s standard variable rate (SVR). Changes to the SVR are at the lender’s discretion.
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Properties for sale free of tax

House prices may rise to reflect the tax holiday

The new stamp duty rules give an immediate stamp duty holiday to any first-time buyer paying less than £250,000 for a property. The rate was formerly 1 per cent on homes between £125,000 and £250,000, so the temporary removal of the tax for two years will save a buyer up to £2,500.
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Purchasing a residential buy-to-let property

Are you fully aware of the tax implications?

If you are considering purchasing a residential buy-to-let property, you may not be fully aware of the tax implications. Usually there will be two taxes that you may have to pay. These are, income tax, which is payable each year based on your income from the property after deducting certain expenses that you have incurred, and capital gains tax, which is payable when you sell the property and is based on the sale proceeds of the property less the cost of the property.
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Perception is everything

Driving consumer demand for properties with superior energy performance

A report from the Royal Institution of Chartered Surveyors (RICS), commissioned by the Communities and Local Government (CLG) department, highlights actions that must be taken to raise the perceived importance of a property’s energy performance throughout the home buying and selling process.
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No cause for complacency

Support needed for home-owners facing financial difficulty

The number of mortgages in arrears and the number of repossessions both fell in the first quarter of 2010, according to the Council of Mortgage Lenders (CML). But this welcome decline gives no cause for complacency as a large number of households, who are just coping; still remain vulnerable to shocks that may arise from the economic uncertainty ahead.
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UK homes more energy efficient through new “eco-loans”

Environmental concern is high on the political agenda

Plans to make UK homes more energy efficient through new “eco-loans” could help to push up property prices but reduce the size of mortgages buyers can borrow, according to property market experts.
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