Mortgages

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Dunfermline Building Society has announced Jim Willens, currently chief operating officer at the group, is to become the new chief executive.

The peak to trough fall of house prices could hit 22% next year, according to housing and mortgage researcher Hometrack.

The 'bottom' of the house price crash could arrive as early as next summer while the UK base rate is likely to fall to zero, according to property investment firm Assetz.

Abbey has announced that from tomorrow it is cutting rates by up to 0.6% on its fixed rate mortgages.

The number of tenants committing to new leases rose 1.3% in November, attributing the increase to would-be property buyers signing up for short leases while they wait for property prices to fall further, Your Move has revealed.

Mortgage network Prestbury has confirmed a winding up petition against the firm has been granted.

Net lending could fall as low as minus £25bn next year as consumers repaying existing mortgage debt outweigh those purchasing a property, the Council of Mortgage Lenders (CML) says.

Property services firm Savills has warned today it expects its underlying profit before tax this year to be significantly below forecasts, highlighting a slowdown in business through its advisory channels as a contributory factor.

The Bank of England considered cutting rates by even more than 1% this month, the latest minutes from the Monetary Policy Committee's (MPC's) meeting reveal.