The UK's independent property help portal
10 August 2012

Revival in buy-to-let lending

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by Gill Montia

Revival in buy-to-let lending
Buy-to-let lending increased by 5% in the second quarter of 2012, according to the Council of Mortgage Lenders (CML). In the three months to June, lenders advanced 33,200 loans worth £3.9 billion (up from 32,300 mortgages, worth £3.7 billion in the first quarter). ...

9 August 2012

Repossession figures drop back

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by Gill Montia

Repossession figures drop back
Repossessions declined in the second quarter of 2012 with the fall in line with seasonal trends seen over the past three years. According to the Council of Mortgage Lenders (CML), banks and building societies took back 8,500 homes, down from 9,600 in the first ...

6 August 2012

Tesco launches mortgage range

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by Gill Montia

Tesco launches mortgage range
Tesco Bank has launched a range of mortgages, available from today, with deals for both remortgagers and home buyers. What's more, borrowers will receive Tesco Clubcard points, collecting one point for every £4 on their monthly repayments. The range includes two, three and five-year fixed-rate ...

31 July 2012

Lloyds backs first-time buyers with £5bn pledge

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by Gill Montia

Lloyds backs first-time buyers with £5bn pledge
Lloyds Banking Group is on track to lend £5 billion to first-time homeowners by the end of the year, helping over 50,000 people get a foot on the property ladder. The group says it is currently providing mortgages for one ...

25 July 2012

Barclays cuts mortgage rates

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by Gill Montia

Barclays cuts mortgage rates
From today, Barclays has lowered six of its fixed-rate mortgages by up to 0.3% at the same time as introducing a two-year fix at 3.29% with no application fee for those buying a home at 70% loan-to-value ratio (LTV). The reductions include a drop ...

20 July 2012

Mortgage lending slips 5%

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by Gill Montia

Mortgage lending slips 5%
Gross mortgage lending in June totalled £11.9 billion, according to the Council of Mortgage Lenders, representing a 5% fall from both the previous month and a year earlier. Lending in the first half of 2012 totalled £67.9 billion, or 7% more than the first ...

6 July 2012

House prices up 1%

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by Gill Montia

House prices up 1%
UK house prices increased by 1% in June, according to Halifax, although on a quarterly measure prices were 0.3% lower than in the preceding three months and down 0.5% year-on-year. The value of the typical dwelling currently stands at £162,417, with the annual ...

3 July 2012

House price recovery postponed to 2013

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by Gill Montia

House price recovery postponed to 2013
UK house prices are unlikely to show signs of recovery until 2013, according to Ernst & Young ITEM Club, with prices falling further in the meantime. The economic forecaster's view is based on new Bank of England figures which show mortgage approvals ...

29 June 2012

New valuation guidance for self-build and new homes

Permalink: New valuation guidance for self-build and new homes
by Gill Montia

New valuation guidance for self-build and new homes
The Royal Institution of Chartered Surveyors (RICS) has updated its guidance on the valuation of self-build and new homes in efforts to increase lenders' confidence in the sectors. Recently, the RICS has detected a growing trend among surveyors to value ...

28 May 2012

Barclays cuts two-year fixed rates

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by Gill Montia

Barclays cuts two-year fixed rates
Barclays is lowering most of its two-year fixed rates from tomorrow. Changes include a two-year Great Escape remortgage cut from 3.89% to 3.74% for 70% loan to value (LTV) and a reduction of 20 percentage points on its two-year fix at 60% LTV, ...

24 May 2012

Buy-to-let lending climbs its way up

Permalink: Buy-to-let lending climbs its way up
by Gill Montia

Buy-to-let lending climbs its way up
Demand for buy-to-let shows no signs of weakening with almost two-thirds of brokers expecting to do more mortgage business with landlords this year than last. According to research from Nationwide, almost three-quarters of brokers questioned believe the number of new landlords will ...


Landlords’ financial profiles revealed

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by Gill Montia

Landlords' financial profiles revealed
Latest research from BDRC Continental reveals that 28% of landlords own their letting portfolios outright. Thirty-three per cent own some but not all of their properties and 39% hold their portfolios via one or more buy-to-let mortgages (BTL), with the average number of loans ...

21 May 2012

Eurozone crisis impacts UK mortgage market

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by Gill Montia

Eurozone crisis impacts UK mortgage market
The Council of Mortgage Lenders (CML) has warned that eurozone developments are once again highly uncertain and have the potential to disrupt the UK's housing and mortgage markets. The threat of a Greek exit from the euro has unsettled the money markets ...

15 May 2012

First-time buyers mortgage approvals fall on eurozone fears

Permalink: First-time buyers mortgage approvals fall on eurozone fears
by Gill Montia

First-time buyers mortgage approvals fall on eurozone fears
First-time buyers were hard hit by tighter lending conditions in April, as loans for new buyers dropped to their lowest level for nine months. According to e.surv, part of the LSL Property group, mortgage approvals for house purchases fell ...

10 May 2012

Repossessions landscape stable

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by Gill Montia

Repossessions landscape stable
Lenders took back 9,600 homes in the first quarter of 2012, up from 8,700 in the final three months of last year, according to the Council of Mortgage Lenders (CML). However, the increase is in line with seasonal trends and the UK's repossessions landscape would ...

24 April 2012

Mortgage lending jumps 17%

Permalink: Mortgage lending jumps 17%
by Gill Montia

Mortgage lending jumps 17%
Gross mortgage lending stood at around £13.4 billion in March, according to the Council of Mortgage Lenders (CML), with the figure up 17% year-on-year. The ending of the stamp duty concession resulted in the highest monthly total for March since 2008, meaning gross lending ...

19 April 2012

Mortgage application fraud up 8%

Permalink: Mortgage application fraud up 8%
by Gill Montia

Mortgage application fraud up 8%
Fraudulent applications for mortgages increased by 8% in 2011, according to Experian. Last year was the fifth in a row to see a rise, with 34 in every 10,000 mortgage applications found to be fraudulent, compared to just 15 in every 10,000 in ...

17 April 2012

Mortgage lending figures encouraging

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by Gill Montia

Mortgage lending figures encouraging
Lending to first-time buyers and home movers increased in February, according to the Council of Mortgage Lenders (CML). During the month, 14,100 loans worth £1.7 billion were taken out by first-time buyers, up 8% by number and 6% by value from January and ...

5 April 2012

Call for protection for “mortgage prisoners”

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by Gill Montia

Call for protection for
The Financial Services Consumer Panel (FSPC) is calling on the Financial Services Authority (FSA) to do more to protect Britain's "mortgage prisoners". The Panel, which oversees the interests of consumers in financial services regulation, believes many homeowners are trapped in existing mortgage ...

21 March 2012

Mortgage lending holds steady

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by Gill Montia

Mortgage lending holds steady
Gross mortgage lending held steady in February, at around £10.7 billion, according to the Council of Mortgage Lenders (CML). In addition, house purchase continued to strengthen and not entirely because first-time buyers are rushing to beat the deadline for the stamp duty concession ...