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 for the first quarter of of the year increased 13% on [...]
mortgage lending
Mortgage lending rallies in December
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 net mortgage lending (gross lending with repayments and redemptions stripped out) stood at [...]
Mortgage lending rallies in December
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 net mortgage lending (gross lending with repayments and redemptions stripped out) stood at [...]
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 [...]
Mixed outlook for mortgage lending
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 flat performance. Looking ahead Britain’s banks and building societies are predicting that [...]
Mixed outlook for mortgage lending
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 flat performance. Looking ahead Britain’s banks and building societies are predicting that [...]
Mortgaged lending stagnates
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 loans in November, compared with a previous six-month average [...]
Mortgaged lending stagnates
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 loans in November, compared with a previous six-month average [...]
House purchase mortgage approvals nudge ahead
New figures from the Bank of England show a £0.7 billion rise in mortgage lending in July, with the figure up 0.1% compared with June but failing to meet the previous six-month average increase of £0.9 billion. Reflecting the overall stagnation in the housing market, the three-month annualised growth rate in new lending decreased 0.1% [...]
UK addicted to house price inflation
Mortgages should be capped at 90% of property values and at a maximum of three-and-a-half times household income, according to a new report from the Institute for Public Policy Research (IPPR). The think-tank wants to see caps on loan-to-value and loan-to-income ratios to help stop another housing bubble, and argues that the UK’s “addiction to [...]
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. [...]
London & South East drive February house price rise
February saw house prices rise by 0.3% in England and Wales (to an average £222,456) with prices bolstered by strong demand in London and the South-East.
According to the latest LSL/Acadametrics house price index, the value of the typical home fell 0.5% year-on-year, as the strong gains seen in the early part of 2010 dropped out [...]
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 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 [...]
Gross mortgage lending down 13%
Gross mortgage lending fell to around £9.2 billion in January, down 13% on December but up 5% on a year earlier.
New figures from the Council of Mortgage Lenders (CML) show the first year-on-year increase since August 2010, although CML economist, Peter Charles, points out that the Bank of England’s latest Inflation Report warns that UK [...]
Buy-to-let lending makes promising recovery
Buy-to-let mortgage lending grew by 7% in 2010, according to the latest data from the Council of Mortgage Lenders (CML).
By the year-end, there were an estimated 1.3 million buy-to-let loans outstanding, worth £152 billion.
The total value of lending during 2010 stood at £10.4 billion (up 22% on 2009), and the total number of loans [...]
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 [...]
Sharp rise in remortgaging approvals
Mortgage lending rose by £0.8 billion in November, with the rate of increase falling back from £1.2 billion in October but remaining slightly above the previous six-month average of £0.7 billion.
The number of approvals for house purchases stood at 48,019 – volumes were up slightly on October and held their own against a previous [...]
Repossessions fall to end-2007 levels
New mortgage lending data from the Financial Services Authority show repossessions falling to 9,145 in the third quarter of 2010.
The total represents an 8% decline on the previous three-month period and is at its lowest since the end of 2007.
In addition, the number of new arrears cases fell to 36,600 in Q3, having declined in [...]
