UK Home Prices Rise in January as Buyers Get Cheaper Loans

Home prices in the UK have increased in January as mortgage approvals rose on the back of the government's Funding for Lending Scheme (FLS), which significantly reduced interest rates.

Mortgage lender Nationwide Building Society said that January house prices improved 0.5 percent after a slightly upwardly revised flat reading in December. Nevertheless, house prices in January were 4.6 percent below their June 2010 peak and 12.8 percent below their October 2007 record high.

House prices remained unchanged on a year-on-year basis... (Continue Reading)