Mortgages

Official government figures suggest house price inflation is now slower, as residential properties in England and Wales grew by an average 11.8% in the last quarter of 2004.

Touted as a successful expansion of the FSA's powers, mortgage regulation is being seen on the ground as leading to real and heavy cost implications for lenders and brokers, suggest results from two recent surveys.

The cost of moving into a first home is now approaching £15,000, suggests Alliance & Leicester, as one-fifth of FTBs spend a third kitting out their homes within the first month.

Take-up of lifetime mortgages rose by 10% in 2004 is expected to grow further over the coming years, along with interest in single occupancy homes, says the Council of Mortgage Lenders.

Further mortgage lending figures from the British Bankers' Association (BBA) suggest last year's net mortgage lending annual increase of £62.3bn was close to the figure for 2003.

House prices climbed again in January in comparison to the end of last year, but the average price of a UK property continued to fall a fraction, says Nationwide.

The number of short-term mortgage arrears increased slightly in the second half of last year and rose for the first time since 1998, according to the latest figures from he Council of Mortgage Lenders.

Destini Financial Services has signed a joint venture deal with Legal Justice to provide UK Muslims with Shariah law-compliant mortgage and protection products.

A target of 100,000 new homes annually over the next 11 years in the Southeast of England alone have been announced as part of the government's 5-year action plan published today.

CBI has launched an online property guide for business, urging UK companies to provide more attention to such a primary asset.