February 2, 2012
Housing Minister, Grant Shapps, has unveiled a range of measures aimed at helping first-time buyers and boosting prospects for house builders.
From March, the NewBuy Guarantee scheme will be on hand to help those buying newly-built properties.
The scheme brings lenders, builders and ...
NewBuy Guarantee scheme launches in March
Permalink: NewBuy Guarantee scheme launches in March
by Gill Montia
January 30, 2012
Buying a home in Scotland is cheaper than renting, according to Bank of Scotland.
For a three-bedroom house, the typical mortgage payment in the region amounted to £510 in December, or 6% less than the monthly rent of £540 for the same ...
Buying 6% cheaper than renting
Permalink: Buying 6% cheaper than renting
by Gill Montia
January 26, 2012
Gross mortgage lending of £9 billion in December was at its strongest for the whole of last year, according to the British Bankers' Association, with the total up 12% on the same period of 2010.
However, repayments by homeowners remained high and ...
Mortgage lending rallies in December
Permalink: Mortgage lending rallies in December
by Gill Montia
January 23, 2012
Gross mortgage lending in December stood at an estimated £11.7 billion, according to the Council of Mortgage Lenders (CML).
The total falls 12% short of the £13.2 billion recorded in November but is up 12% year-on-year.
In fact, December was the fifth ...
CML: mortgage funding prospects “uncertain”
Permalink: CML: mortgage funding prospects “uncertain”
by Gill Montia
January 17, 2012
Mortgage payments for new borrowers have almost halved as a proportion of disposable income, down from a peak of 48% in the third quarter of 2007 to 27% at the end of 2011.
According to new Halifax research, repayments for both ...
Mortgage payments most affordable in 14 years
Permalink: Mortgage payments most affordable in 14 years
by Gill Montia
January 16, 2012
Mortgage lending rose in November, for only the second time in 2011.
According to the Council of Mortgage Lenders (CML), loans for house purchases totalled 47,000 with the figure up 4% on a month earlier and 3% on a year earlier.
First-time buyers took out ...
November mortgage lending revival
Permalink: November mortgage lending revival
by Gill Montia
January 6, 2012
UK mortgage lending was broadly unchanged in the three months to mid-December, compared with the previous quarter, the Bank of England reports.
Lenders had been expecting a slight increase and blamed tighter wholesale funding conditions and fears over house price falls for the ...
Mixed outlook for mortgage lending
Permalink: Mixed outlook for mortgage lending
by Gill Montia
January 5, 2012
Halifax has launched a two year, fee free, fixed rate first-time buyer mortgage, at 5.99%.
According to the lender, today's first-time buyer typically pays a product fee of around £995, and in addition to waiving any fee, Halifax is offering £500 cash-back on its ...
Halifax supports first-time buyers
Permalink: Halifax supports first-time buyers
by Gill Montia
January 4, 2012
Mortgage lending continued to flat line in November, with approvals for house purchases at 52,854, Bank of England figures show.
The total showed little change on October's but managed to stay above the previous six-month average (50,266).
Remortgaging activity declined, with lenders approving only 31,154 home ...
Mortgaged lending stagnates
Permalink: Mortgaged lending stagnates
by Gill Montia
December 16, 2011
The Council of Mortgage Lenders (CML) expects gross mortgage lending to total around £133 billion in 2012 and net lending (gross lending with repayments and redemptions stripped out) to amount to only £5 billion.
The figures compare with estimates of £138 billion for ...
CML 2012 housing market forecast
Permalink: CML 2012 housing market forecast
by Gill Montia
December 15, 2011
Latest figures from the Financial Services Authority (FSA) show repossessions rising by 2% in the third quarter of 2011, compared with the previous three month period, with 9,670 homes returned to lenders.
However, there were only 34,900 new arrears cases in Q3, down 2% ...
Repossessions up, arrears down
Permalink: Repossessions up, arrears down
by Gill Montia
December 14, 2011
New research from Shelter highlights the areas of England where people are most at risk of losing their homes.
The charity claims that one in every 111 households is at risk of eviction by either a landlord or mortgage lender, with those living ...
High eviction risk areas identified
Permalink: High eviction risk areas identified
by Gill Montia
December 9, 2011
Low interest rates have helped make today's first-time buyer mortgages the most affordable for nearly eight years, according to the Council of Mortgage Lenders (CML), with monthly interest payments now typically consuming only 12.3% of first-time buyer income.
However, in October those new ...
First time buyer number shrink
Permalink: First time buyer number shrink
by Gill Montia
December 7, 2011
Government proposals to change the way in which Support for Mortgage Interest (SMI) operates have alarmed the Council of Mortgage Lenders (CML)and make uncomfortable reading for those receiving the support.
SMI helps people who would either have to sell their home or ...
Mortgage support payment changes alarm lenders
Permalink: Mortgage support payment changes alarm lenders
by Gill Montia
December 5, 2011
The UK's first-time buyers need anything between 10 and 19 years to save up for a deposit.
The plight of would-be homeowners has been highlighted by InvestorBee, which has produced some pretty extensive research demonstrating the level of dedication needed ...
UK house prices need to fall further
Permalink: UK house prices need to fall further
by Gill Montia
December 2, 2011
Chancellor of the Exchequer, George Osborne, provided reassurance for homeowners earlier this week when he reiterated the importance of low interest rates, if the UK is to build a stronger and more balanced post-financial crisis economy.
However, yesterday's outburst ...
If the eurozone won’t fix mortgage rates still do
Permalink: If the eurozone won’t fix mortgage rates still do
by Gill Montia
November 25, 2011
House purchase lending in Scotland increased by 8% in the third quarter of 2011, according to new data from the Council of Mortgage Lenders (CML).
There were 12,400 loans taken out (up from 11,500 in the previous quarter) of which 4,600 ...
Mortgage lending livens up in Scotland
Permalink: Mortgage lending livens up in Scotland
by Gill Montia
November 22, 2011
Tight lending criteria attached to buy-to-let mortgages are hampering growth in the private rented sector at a time when tenant demand is at an all-time high.
According to tenant referencing firm, Landlord Assist, many landlords are keen to acquire new properties but are ...
Lending criteria block landlord expansion
Permalink: Lending criteria block landlord expansion
by Gill Montia
November 21, 2011
The Government has set out a new strategy to tackle England's housing shortage by breaking the current cycle in which lenders won't lend, builders can't build and buyers can't buy.
At the heart of the strategy is a new-build indemnity scheme that ...
New housing strategy full of promise
Permalink: New housing strategy full of promise
by Gill Montia
November 16, 2011
Japanese Knotweed could become less of a threat to UK homeowners, with the Royal Institution of Chartered Surveyors (RICS) encouraging valuers and mortgage lenders to reconsider the implications of the plant.
Legend has it that the non-native Reynoutria japonica can push shoots up through ...
Japanese Knotweed threat recedes
Permalink: Japanese Knotweed threat recedes
by Gill Montia