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Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

House prices `suffer` in financial instability

31/08/2007

The average price of a house in the UK has fallen slightly due to uncertainty in the financial markets, according to new figures released today.

Figures from the Nationwide House Price Report now show that the average UK home in August now costs £183,898.

The slight dip, down from £184,270 in July, comes amid growing financial volatility affecting international markets. However, the August figure is still £16,177 higher than the same month a year ago.

Fionnuala Earley, Nationwide`s chief economist, said: "While it has taken some time for these factors to bite, there are now clearer signs of slower demand in the market reflected in the collapse in new buyer enquiries."

Earlier this month, the Bank of England held interest rates at 5.75 per cent, partly to ease the pressures on the housing market. The Bank`s next interest rate decision will be taken on September 6th.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according