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rightmove performance data

Good news in the past week we have sold two more houses. This means we have sold over half of our listing in the eight weeks we have been up and running. Its no accident, its about pricing right, marketing well and activeley selling the product. Our newsletter is not even hald distributed around Kinrosshire and the offers came rolling in.

HSBC is launching a range of mortgage products with loan-to-value (LTV) maximums of up to 90%, backed with £1bn of funding.

This is part of HSBC’s £15bn fund it has allocated for new mortgage lending in 2009: twice what the bank lent in 2007. The new deals reflect the bank’s commitment to continue lending to UK homeowners at competitive rates and will be available from April 14.

The mortgages will be available to HSBC Plus account and Premier customers. HSBC current account customers and those not currently with HSBC are welcome to open a Plus account to take advantage of the offers.

Over the past 12 months, neither first-time buyers nor homeowners with relatively low levels of equity have been able to take advantage of the falling cost of borrowing. By making £1bn available to buyers with deposits of just 10%, HSBC is trying to remedy the situation with a market leading rate of 4.99%, fixed for two years.

Not that it is the key indicator anymore it is still news that the Bank of England has held interest rates at their all-time low level of 0.5%.

Six cuts since October 2008, when the Bank Base Rate stood at 5%, meant there was little scope left for further reductions. The Bank has introduced quantitative easing, a method of expanding the money supply to try and revive the economy.

There is much noise about how RBS, Northern Rock andothersd are beginining to crank up the mortgage approvals and it is here that the property market will be revived not in any interest rate change.