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This week saw the new coalition government’s emergency budget announced, with the main news affecting the property market receiving mixed views. After the rise in Capital Gains Tax was more modest than anticipated, it is thought buy-to-let landlords and second home owners have been let off the hook, however, there may still be repercussions, with experts predicting the rise may discourage investors in the long term.
Elsewhere, the cost of repaying a mortgage has fallen to its lowest point in seven years with the average rate on a two-year fixed rate mortgage now 4.52 per cent - its lowest level since September 2003. A possible explanation is that lenders are trying to incentivise borrowers onto new deals by making significant cuts to their rates.
And finally, if you’re looking for a new property, have you ever considered a cricket pavilion? Not the most conventional new house, but that’s exactly what one American architect decided would be an ideal place to set up home – What would Dickie Bird say?!
Buy-to-let sector breathes sigh of relief as rise in capital gains tax announced in today's emergency budget is less than originally feared.
Guardian, 22/06/2010
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The rate at which asking prices for property are rising stalled in June as new sellers flooded on to the market, research showed today.
Independent, 21/06/2010
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The credit crisis saw mortgage finance dry up, but as Britain emerges out of recession, lenders are beginning to offer cheaper home loans for those with smaller deposits.
Telegraph, 21/06/2010
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The housing shortage in the UK is so acute that 63 per cent of adults who have children living at home believe their children will not be able to afford to live in their community when they leave home. The risk is a hollowing out of communities and families being forced to live farther apart.
Chartered Institute of Housing, 20/06/2010
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A total of 10,500 home owners had their property repossessed during the three months to the end of March, 11pc fewer than during the previous quarter, according to the Financial Services Authority.
Telegraph, 23/06/2010
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Unmarried couples who split up could be in for a nasty shock about who owns their home: appeal judges have ruled that a man who left his partner 17 years ago was entitled to a half share in the house even though he had never paid the mortgage.
Guardian, 20/06/2010
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An American architect has extended play for a dilapidated cricket pavilion in Hampshire – but the pitch itself may have seen its last action.
Telegraph, 24/06/2010
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