Real Estate

September Experiences the Worst Fall for Housing Prices since May 2009

Following the astounding fall in the price of houses in May 2009, the previous month saw even a worse debacle for housing prices in England. The Royal Institution of Chartered Surveyors has stated the fall to be the worst for housing prices in the past one year.

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Heritage Overlay Worries Property Owners

Property owners of units in a Caulfield South building have raised complaints that they would have not bought the property, if they would have known about the heritage laws related to the building. The property owners are feeling the pinch of the heritage laws that protect the building.

According to reports, there has already been a rift between the councilors of Glen Eira and the heritage expert of the council. Yet, the council is looking to make amends and bring about a reasonable solution for everyone related to the incident.

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A New Set of Rules Put Forth by the FSA

Many who are at this time, at the altar of perfection and certainty are likely to lose hope as a result of the Financial Services Authority's crack down on interest-only mortgages.

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30-Year Mortgage Ties a Record Low

Freddie Mac's weekly survey the standard interest charge on 30-year constant-rate residence mortgages chop down to 4.32% for the week ended Thursday, tying a record low for the mortgage.

The 30-year fixed-rate mortgage averaged at 4.37% previous week and 4.94% during last year. Rates on 15-year fixed-rate mortgages as well hit up a record low, averaging at 3.75% this current week which averaged at 3.82% the preceding week and 4.36% previous year.

The 5 year Treasury-index hybrid adjustable-rate mortgages averaged at 3.52%, which was down from 3.54% past week and 4.42% previous year.

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Paragon Making Comeback to Buy-to-let Market after 18 Months

Paragon, which has been recognized as the largest buy-to-let lenders in the housing market, is going to make a bright comeback for the first time in 18 months.

Alongside many lenders, Paragon was also snapped by the credit crisis, but now it is expecting to perform well in the market and is making £1bn a year in new mortgages.

As the demands of tenants are soaring, rents of the houses are also increasing. Fortunately, it will be a bonus for Paragon, as previous landlords are selling their property.

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