Increase in Mortgage, houses becomes 'less affordable'

Within the first three months of 2012 almost all big banks of UK including Halifax, RBS, Clydesdale and Yorkshire Bank etc. have raised their mortgage rates. Which obviously decreases the average buyer's ability to buy a house? The mortgage lenders have given quite a tactful reason for this increase; they say that since there is an increase in the Libor rate (the average interest rate that the biggest London banks charge when lending to each other) has risen because of the crisis in the Eurozone. Which makes it more expensive for the mortgage...

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Effects of Eurozone crisis on UK’s Housing Industry

"The crisis in the euro zone is having a chilling effect, not just on euro-zone economies, not just on market confidence, but on the British economy too" don't these words sound familiar?  They why spoken by PM David Cameron while addressing the European Union summit in Brussels. It is no hidden fact that the euro-zone crises are having deep and long-term consequences on UK's economy especially the real estate market. It has not been long since the previous European Meltdown of 2008 and all of us are well aware what happened to the...

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Buying a house in UK costs a fortune

"House Prices Double in 4 Years". "UK property prices are constantly on a rise." "Property prices still creep up by 1%". Most of you would have read these lines, what we constantly keep thinking is that why is there a ceaseless boom in the real estate market of UK, including and especially London? The answer is quite simple the location of UK and London in particular is very strategic. Due to its location UK can trade with the Asian countries in the morning and with US in the evening, which makes it a buzzing hub for all sorts of commercial...

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