July 3, 2009
Figures have revealed today that historically low interest rates have led British homeowners to repay a record £8.1 billion off their mortgages in the first three months of the year.
According to the Bank of England, the £8.1 billion is ...
British homeowners repay record amount off mortgage debt
Permalink: British homeowners repay record amount off mortgage debt
by Kay Murchie
June 29, 2009
The housing market continues to bring mixed signals as figures from the Bank of England (BoE) today revealed a rise in mortgage approvals for the month of May - it is the fourth consecutive month that approvals have ...
Mixed signals as BoE reports rise in mortgage approvals
Permalink: Mixed signals as BoE reports rise in mortgage approvals
by Kay Murchie
June 24, 2009
HM Revenue & Customs (HMRC) has today revealed a rise in the number of homes sold in May in the UK.
According to HMRC, 62,000 homes worth at least £40,000 were sold in May - a rise of 7% when compared with ...
HMRC: House sales up in May
Permalink: HMRC: House sales up in May
by Kay Murchie
June 23, 2009
The British Bankers' Association (BBA) has today reported that the number of mortgage approvals by the UK's major banks hit a 13-month high in May.
According to the BBA, 31,162 home loans were approved in May which was a 7% rise compared ...
BBA report rise in mortgage approvals
Permalink: BBA report rise in mortgage approvals
by Kay Murchie
June 22, 2009
The Council of Mortgage Lenders (CML) has revised its forecast for the number of homes expected to be repossessed in 2009 from 75,000 to 65,000.
The figure is still the highest since 1992 and almost two-thirds higher than the 40,000 people who lost ...
CML revises repossession forecast downwards
Permalink: CML revises repossession forecast downwards
by Kay Murchie
Rightmove: Homeowners becoming more realistic with selling prices
Permalink: Rightmove: Homeowners becoming more realistic with selling prices
by Kay Murchie
June 19, 2009
Bank of England figures have revealed that over 16,000 mortgage applicants are being turned down each month.
The figure stood at 12,000 last December but has risen since March.
It is the first time these types of figures have been released by ...
16,000 applicants refused a mortgage each month
Permalink: 16,000 applicants refused a mortgage each month
by Kay Murchie
June 18, 2009
According to the National Association of Estate Agents (NAEA) first-time buyers appear to be returning to the property market.
The NAEA said estate agents had an average 300 househunters registered with them last month - a level not seen since the market peaked ...
First-time buyers making a comeback
Permalink: First-time buyers making a comeback
by Kay Murchie
Recovery hopes dashed as mortgage lending falls 58% on year in May
Permalink: Recovery hopes dashed as mortgage lending falls 58% on year in May
by Kay Murchie
June 17, 2009
Major lenders have hiked the cost of their fixed-rate mortgages, making them even more expensive for new borrowers.
Santander-owned Abbey, which is the UK's second largest mortgage lender, has increased the cost of its fixed-rate deals by between 0.25 and 0.5 percentage ...
Major lenders increase fixed-rate mortgages
Permalink: Major lenders increase fixed-rate mortgages
by Kay Murchie
June 14, 2009
In just two-and-a-half years, mortgages requiring a 10% deposit have almost vanished from the market making it even more difficult for first-time buyers to get on the property ladder.
First-time buyers have long since been described as a core part of ...
90% LTV mortgages are a rare breed
Permalink: 90% LTV mortgages are a rare breed
by Kay Murchie
June 12, 2009
The Bank of England’s Quarterly Bulletin Report has revealed that the fall in house prices means between 700,000 and 1.1 million UK homeowners are in negative equity (a mortgage worth more than their property).
According to the Bank, "around ...
BoE: House price falls put 1.1m in negative equity
Permalink: BoE: House price falls put 1.1m in negative equity
by Kay Murchie
June 11, 2009
There is more positive news today for the housing market after the Council of Mortgage Lenders (CML) said the number of loans approved for house purchases in the UK rose by 16% in April compared with March.
According to the CML, a ...
CML: Mortgage lending up in April
Permalink: CML: Mortgage lending up in April
by Kay Murchie
June 2, 2009
According to figures released by the Bank of England today, the number of mortgages approved for house purchase in the UK rose for the third consecutive month in April, up from 40,038 in March to 43,201.
While the number of ...
BoE: Mortgage approvals up for third consecutive month
Permalink: BoE: Mortgage approvals up for third consecutive month
by Kay Murchie
May 31, 2009
A £285 million mortgage rescue scheme, introduced across England in January to help struggling families avoid repossession, has helped just two households according to official figures.
It is reported that 1,084 households applied to local authorities for help last month but ...
Mortgage rescue scheme helps just two homeowners
Permalink: Mortgage rescue scheme helps just two homeowners
by Kay Murchie
May 27, 2009
According to the British Bankers' Association (BBA), the number of mortgages approved for house purchases rose by 4% in April compared with the previous month, rising from 26,671 to 27,685 approvals.
However, compared with April 2008, this represented a fall of 15.5%.
Furthermore, ...
BBA: Mortgage lending up in April
Permalink: BBA: Mortgage lending up in April
by Kay Murchie
May 21, 2009
The Council of Mortgage Lenders (CML) have revealed today that gross mortgage lending fell in April to £10.4 billion, down from £11.4 billion the previous month and down from £26.1 billion in April last year.
However, there is a slight fall ...
CML: Gross mortgage lending falls in April
Permalink: CML: Gross mortgage lending falls in April
by Kay Murchie
May 19, 2009
A new service created by Evaluate Technologies enables consumers to select a mortgage to suit their own needs, without having to rely on a mortgage broker.
The new mortgage comparison tool, called EvaluateConsumer, has been designed to offer consumers the facility to ...
Mortgage comparison tool launched today
Permalink: Mortgage comparison tool launched today
by Kay Murchie
May 18, 2009
The Co-operative Bank has announced it has slashed its repossessions by 50% in the last 16 months.
According to the ethical financial institution, in the last 16 months just 8 customers have suffered repossession compared with 16 repossessions in the ...
Responsible lending leads Co-operative Bank to halve repossessions
Permalink: Responsible lending leads Co-operative Bank to halve repossessions
by Kay Murchie
May 15, 2009
The Council of Mortgage Lenders (CML) have today revealed that the number of homes repossessed in the UK increased to 12,800 in the first quarter of 2009.
This represents a rise of 23% from the previous quarter and 50% up compared ...
Home repossessions up 50% in a year
Permalink: Home repossessions up 50% in a year
by Kay Murchie