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
November 12, 2011
Loans for both house purchase and remortgage fell slightly in September, compared with August, according to the Council of Mortgage Lenders (CML).
48,200 mortgages were advanced for house purchase, worth £7.1 billion, down 2% by number and 5% by value compared to a month earlier, ...
Mortgage lending slips
Permalink: Mortgage lending slips
by Gill Montia
November 10, 2011
Repossessions have nudged up slightly, with 9,200 homes taken back by mortgage lenders in the three months to the end of September, compared with 9,100 in the previous quarter.
However, 27,500 properties have been taken into possession so far this year, with the figure down ...
Repossessions nudge up
Permalink: Repossessions nudge up
by Gill Montia
November 3, 2011
Barclays' Woolwich arm has extended its range of buy-to-let mortgages to 75% loan-to-value (LTV) from today.
The range includes a five-year fix at 4.99%; a two-year fix at 4.39% and a lifetime tracker at base + 3.49%.
At 60% LTV, the lender's ...
Woolwich launches 75% LTV buy-to-let loans
Permalink: Woolwich launches 75% LTV buy-to-let loans
by Gill Montia
Younger Britons afflicted by house price wealth transfer
Permalink: Younger Britons afflicted by house price wealth transfer
by Gill Montia
October 31, 2011
Mortgage approvals for house purchases fell to 50,967 in September, down from 52,347 in August but above the previous six-month average of 48,460.
New figures from the Bank of England show total mortgage lending increasing by only £0.3 billion during the month, compared with ...
House purchase lending slips
Permalink: House purchase lending slips
by Gill Montia