mortgages and remortgages in the uk

mortgages and remortgages in the uk

A majority of British people believe buying property is now a safer place to put their money than saving with a bank or building society.
Research for the BBC Two series, The Truth About Property, found 53% of respondents believed owning property was safer than cash.
The poll took place in the aftermath of the Northern Rock crisis, the first run on a British bank in nearly 150 years.
The findings come despite mounting evidence of a slowing housing market.
Prices have fallen in many parts of the UK in the past few months, prompting some analysts to question whether the decade-long housing boom is coming to an end.
In order to gauge how record house prices were affecting people's lives, the BBC commissioned NOP to conduct research on the issue at the end of last month.
Asked which they thought was a safer investment at the moment, 53% of those surveyed said buying property was safer than cash.
That belief is directly at odds with the view accepted by the overwhelming majority of investment professionals.
They regard cash as safer than property because as long as the bank is solvent, there is no risk to your capital.
It will also raise questions about the success of the government's attempts to reassure the public following the run on Northern Rock.

More evidence that house price inflation is cooling off has come from the Department of Communities and Local Government (DCLG).
Prices across the UK rose by 0.5% in August, taking the average price across the country to £219,528.
However, the annual inflation rate for property fell from 12.4% to 11.4%.
The report confirms the evidence of other surveys, from lenders and surveyors, which have shown a recent downturn in the property market.
The drop in inflation shows clearly that the market is responding to the five increases in interest rates that the Bank of England has imposed since the summer of 2006.
Prices are even cooling off in London, which has been the main engine room of house price inflation in the UK.

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