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 month in a row to show annual growth in mortgage lending, with 2011′s [...]
Council of Mortgage Lenders
November mortgage lending revival
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 17,300 home loans, up 4% on both October 2011 and [...]
November mortgage lending revival
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 17,300 home loans, up 4% on both October 2011 and [...]
CML 2012 housing market forecast
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 gross lending and £9 billion for net lending for 2011 as a [...]
First time buyer number shrink
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 to home ownership took out just 16,400 loans, or 1% fewer than [...]
Mortgage support payment changes alarm lenders
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 have it repossessed as a result of losing some or all of their [...]
Mortgage lending slips
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, but up 3% year-on-year, by both number and value. There [...]
Sharp rise in buy-to-let lending
The number of new buy-to-let loans increased by 16% in the third quarter of 2011, according to data from the Council of Mortgage Lenders (CML). In the three months to September, 34,500 landlord loans were advanced, up from 29,700 in the preceding quarter. Over the period, the value of mortgages increased by 19% as the [...]
Repossessions nudge up
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 4% on the equivalent period of 2010, according to the [...]
Repossessions nudge up
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 4% on the equivalent period of 2010, according to the [...]
Standard variable rates save £2,600 a year
Around 1.8 million borrowers whose fixed-rate mortgages have come to an end are currently saving approximately £2,600 a year each, through having reverted to their lenders’ standard variable rates. According to new research from the Council of Mortgage Lenders (CML), many seem to be happy to adopt a “wait and see” attitude when it comes [...]
August mortgage lending lift
Homeowners continued to warm up to remortgaging in August, with data from the Council of Mortgage Lenders (CML) showing 34,100 loans taken out worth £4.2 billion. Compared with a year earlier both volume and value were up 30%. House purchase lending also rose, with 52,000 loans advanced (worth £7.9 billion), up from 51,000 (worth £7.7 [...]
Mortgage lending subdued but stable
Gross mortgage lending came in at around £13.4 billion in August, up 6% on July and having risen 10% compared with a year earlier. According to the Council of Mortgage Lenders, the monthly total is at its highest for over two years and marks the best result for August since 2008. However, the Council’s chief [...]
Mortgage lending loses ground
The Council of Mortgage Lenders (CML) has produced another lackluster set of figures, this time illustrating the extent to which the UK housing market lost ground in the year to end-July. Compared with June, lending for house purchase rose by both volume and value in July, to 48,800 and £7.3 billion respectively, but both figures [...]
Mortgage fraudsters beware of verification scheme
Mortgage applicants temped to enhance their earnings to increase their chances of getting a home loan should be aware that lenders have joined forces with HM Revenue & Customer in an attempt to stamp out mortgage application fraud. The move also gives HMRC the opportunity to assess whether a mortgage applicant’s tax affairs are likely [...]
Scottish housing market manages seasonal spurt
House purchase lending in Scotland rose by more than the UK as a whole in the second quarter of 2011, according to new data from the Council of Mortgage Lenders (CML). Scottish home buyers secured 11,300 loans worth £1.3 billion, with the figures up 36% and 42% respectively, compared with the first three months of [...]
Repossession set to rise through 2012
The Council of Mortgage Lenders (CML) has published forecasts for the UK mortgage and housing market, in which it predicts that arrears and repossessions are set to rise during the remainder of 2011 and throughout 2012. The lenders’ body also expects the base rate to remain unchanged at its current level of 0.5% for most [...]
Home ownership goal stretched to aged 38
Brits with property-owning ambitions don’t expect to be able to buy their first home until aged 38, or 43 for Londoners, according to new research from moneysupermarket.com. With only 1,581 home loans currently available to first-time buyers (compared with 14,940 in July 2007) the average loan-to-value ratio stands at 77%, meaning new buyers aiming for [...]
Interest rate fears drive remortgaging surge
The first three months of the year saw a remortgaging surge, with activity accounting for 37% of the quarter’s lending (up from 30% in the previous quarter), the Council of Mortgage Lenders (CML) reports. In March, there were 33,900 loans for remortgage, up 16% compared to February and up 17% year-on-year, with the rise linked [...]
Repossessions up but mortgage arrears improve
Repossessions rose 15% in the first three months of 2011, compared with the previous quarter, according to new data from the Council of Mortgage Lenders (CML). A total of 9,100 properties were taken back by lenders, equating to 0.08% of all loans, but the figure was 10% lower than a year earlier and fell in [...]
Cash buyers make up 40% of house purchasers
Figures from the Council of Mortgage Lenders (CML), seen by the BBC, show a huge rise in the proportion of home buyers paying in cash. In January, nearly 40% of purchasers had no need of a mortgage, meaning that the proportion of loan-free buyers had more then doubled since CML records began, in 2005, the [...]
CML reports 2% fall in mortgage lending in March
The Council of Mortgage Lenders (CML) has today said mortgage lending continues to remain weak, suggesting the housing market will remain subdued this year. According to the Council, gross mortgage lending for March was 2% lower in March on an annual basis. However, on a monthly basis, gross lending rose 21% to £11.3 billion, compared [...]
UK housing market “stuck in a rut”
Gross mortgage lending remained flat in February, at around £9.5 billion, according to new data from the Council of Mortgage Lenders (CML). The total is less than 1% up year-on-year and any seasonal pick-up in house purchase demand appears to be weaker, despite a lull in activity at the start of 2010, following the end [...]
Mortgage borrowers unaware of low interest rates
One in four mortgage holders doesn’t realise that interest rates are at historic lows, research highlighted by Shelter suggests.
According to the homelessness charity, 25% of the 1,500 homeowners surveyed believe current rates are either higher than or the same as they have been in the past, or simply don’t know.
Of this group, 9% believe interest [...]
January mortgage lending down 26%
Mortgage lending plummeted by 26% in January, compared with December, but the Council of Mortgage Lenders (CML) is keen to explain how an “unusual combination of factors” are to blame.
Putting aside seasonal factors, the lenders’ body reckons the impact of government spending cuts, rising inflation and new tax measures all “discouraged” potential house buyers.
Extreme weather [...]
