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 [...]
house purchase
Banks’ mortgage lending stable
High Street banks approved 74,590 mortgages in July, up from 71,521 in June and ahead of the previous six-month average (69,803), according to the British Bankers’ Association (BBA). House purchase approvals rose to 33,417 following on from June’s 32,123 and ahead of the previous six-month average (30,695). At £151,500, the value of the typical house [...]
House purchase lending slips in April
UK lenders approved 45,166 mortgages for house purchases in April, Bank of England figures show. The total compares with 47,145 homebuyer loans sanctioned in March, and a previous six-month average of 46,179. In addition, remortgaging approvals declined to 28,091, as fears over interest rate rises subsided (March: 31,201; previous six-month average 32,534). According to the [...]
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 [...]
House purchase mortgage approval down 10%
The UK’s High Street banks saw net mortgage lending rise by 2.3% in March (or £0.8 billion), compared with a year earlier, as households remained focused on paying down debt. New mortgage lending held up “fairly well” according to the British Bankers’ Association (BBA) but because of of stronger remortgaging (rather than house purchase) activity. [...]
House purchase lending shrinks 12%
Mortgage lending increased only slightly in February, despite a “particularly downbeat” January, the Council of Mortgage Lenders (CML) reports. There were 32,300 loans for house purchase, worth £4.6 billion. The figures were up 8% by volume and 5% by value from January but down 12% (by both volume and value) on an annual basis. Loans [...]
Rise in home-buyer mortgage approvals
Mortgage approvals for house purchases rose to 46,967 in February, Bank of England figures show. The total compares with 45,723 approvals for January and is slightly ahead of the previous six-month average of 46,413. Approvals for remortgaging increased to 35,725 (January 33,498), also showing an improvement on the previous six-month average of 31,674. Meanwhile, approvals [...]
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 [...]
House purchase lending nudges up
Lenders approved 45,723 mortgages for house purchases in January, new data from the Bank of England show, with the figure slightly up on December’s but below the previous six-month average of 46,686.
Approvals for remortgaging increased to 33,498 (December: 31,561) ahead of the six month average of 30,407, no doubt as homeowners’ anxieties over interest [...]
House prices to fall 5% this year
UK house prices are expected to fall gradually in 2011, after losing ground overall in the latter months of 2010, according to a respected economic forecaster.
IHS Global Insight is predicting a decline of around 5%, with the value of the typical home losing around 10% from the peak seen in the first half of last [...]
House purchase mortgage approvals down by almost a third
The UK’s banks saw net mortgage lending (gross lending with repayments and redemptions stripped out) rise slightly in January, compared with December.
However, the British Bankers’ Association reports that while house purchase approvals were also slightly up on a monthly basis (28,932) volumes were down 29% when compared with January 2010.
In addition, the value of the [...]
Mortgage lending stabilises in 2010
Mortgage lending stabilised in 2010 after “very sharp” falls in 2008 and 2009, the Council of Mortgage Lenders (CML) has reported.
Over the whole of last year, there were 529,300 loans advanced for house purchase (worth £77.1 billion) up 3% by volume and 11% by value on a year earlier.
Loans for remortgage were at a [...]
New mortgage lending shrinks
New mortgage lending shrank in December, by £0.3 billion, compared to a rise £0.5 billion in November and a previous six-month average of plus £0.6 billion, according to Bank of England figures.
The number of loans approved for house purchase declined to 42,563, down from 47,287 in November, and compared with a previous six-month average [...]
Mortgage approvals for house purchases slip 10%
For 2010 as a whole, house purchase mortgage approvals by the UK’s main High Street banks were down 10% on a year earlier, to fewer than 400,000, according to the British Bankers’ Association.
While the average value of house purchase approval fell slightly in December, to £143,300, the figure remained 1.6% higher than a year earlier.
Numbers [...]
Mortgage lending stable in November
Mortgage lending remained stable in November of last year, compared with October, with the UK’s banks and building societies advancing 44,000 loans for house purchase (worth £6.3 billion), according to new data from the Council of Mortgage Lenders (CML).
However, compared with a year earlier, the figures are down 15% by volume and 13% by [...]
Mortgage demand weakens
Lenders have report that demand for house purchase mortgages fell “markedly” in the three months to December, with the trend expected to continue over the current quarter.
According to the Bank of England’s latest Credit Conditions Survey, the decline reflected “a recent fall in house prices, a general weakening of sentiment towards the housing [...]
Remortgaging activity continues revival
The UK’s High Street banks approved 29,991 mortgages for homebuyers in November, down slightly from October’s total of 30,689, according to the British Bankers’ Association (BBA).
The average value of a house-purchase loan rose slightly to £145,000, showing a 1.9% increase on a year earlier.
Remortgaging activity improved, with 27,045 loans sanctioned, compared with 24,785 a month [...]
