Despite ongoing predictions of doom and gloom in the property market, mortgage lending was up in January.
The National Association of Estate Agents has called on the Chancellor to cut stamp duty in next month’s budget.
The credit crunch has been less dramatic for UK borrowers than first feared, with fewer arrears than expected.
The Bank of England’s Monetary Policy Committee voted to reduce the interest rate to 5.25%, a cut of 0.25%.
Average property prices have remained stable according to research released by the Halifax House Price Survey.
Confidence in the property market has improved in January.
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