Property Rescue Blog

Personal debt has been on the rise in Britain for some time now, but new research shows that the rising cost of interest payments is poised to become an even greater burden on many households.

According to the British Bankers’ Association (BBA), the rush of buyers trying to beat the end of the stamp duty holiday was at least partly responsible for the continued depression of the mortgage market in February.

The Council of Mortgage Lenders has released a report showing a slowdown in mortgage lending in recent months.

A recent Halifax report states that there has been a significant slowdown in the UK housing market and mortgage lending sectors in recent months.

Most concur that the UK simply cannot afford having political parties play games with public finances during this challenging economic climate and just before the upcoming elections; however, the Budget to be released on 24 March – which is the last Budget prior to the coming general election – may include damaging tax rises.

According to research conducted by Halifax, the UK housing market has recorded its first monthly fall in home prices since June 2009.

The world of mortgages is quickly changing, with the transformation perhaps being most evident in the dramatic increase in new mortgage deals requiring deposits of at least 25%.

In order to address the UK’s £178 billion deficit and to begin to re-establish credibility in public finances, the government must start implementing public spending cuts this year.

According to the Office for National Statistics (ONS), exports saw the steepest drop in more than three years, which has unexpectedly widened the UK goods trade deficit to its largest since August 2008.

It is no secret that the cost of housing has risen significantly over the past 50 years, even taking into account the last few years decreases