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 and according to the CML, “funding markets have once again effectively closed”. If [...]
Mortgage News
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 and according to the CML, “funding markets have once again effectively closed”. If [...]
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 to 49,165 last month, with the average deposit requirement rising to 40% as renewed fears over [...]
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 to 49,165 last month, with the average deposit requirement rising to 40% as renewed fears over [...]
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 appear to be stable for the time being. The first [...]
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 for the first quarter of of the year increased 13% on [...]
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 2006. The vast majority (93%) of cases were down to individuals misrepresenting [...]
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 2006. The vast majority (93%) of cases were down to individuals misrepresenting [...]
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 up 18% by number and 21% by value year-on-year. February was the [...]
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 up 18% by number and 21% by value year-on-year. February was the [...]
Call for protection for “mortgage prisoners”
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 deals because they have low levels of equity in their homes; are in [...]
Call for protection for “mortgage prisoners”
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 deals because they have low levels of equity in their homes; are in [...]
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 on 24th March. CML figures up to the end of January show [...]
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 on 24th March. CML figures up to the end of January show [...]
Barclays launches NewBuy mortgages
Barclays has launched two first-time buyer mortgages to support the Government’s NewBuy initiative, which aims to provide mortgages of up to 95% loan-to-value for new-build properties in England. First-time buyers or home movers purchasing a new build house or flat (with participating builders up to the value of £500,000) have a choice of a Barclays [...]
Barclays launches NewBuy mortgages
Barclays has launched two first-time buyer mortgages to support the Government’s NewBuy initiative, which aims to provide mortgages of up to 95% loan-to-value for new-build properties in England. First-time buyers or home movers purchasing a new build house or flat (with participating builders up to the value of £500,000) have a choice of a Barclays [...]
Halifax hikes SVR
Halifax is hiking its Standard Variable Rate (SRV) from 3.5% to 3.99%, from 1st May. In addition, the lender is raising its Halifax Variable Rate 2 (currently 3.4%) and Halifax Flexible Variable Mortgage Rate (currently 3.4%) to 3.89%, also from 1st May. Affected customers should start to receive new monthly payment details from 11th April. [...]
First time buyers buoy mortgage lending
First-time buyer numbers increased in December, according to the Council of Mortgage Lenders (CML). During the month, there were 18,700 loans advanced to first-time buyers, with the figure up 7% from November. CML data also show a 3% rise in the number of properties purchased below the stamp duty concession, which leaves first-time buyers free [...]
Launch of £20m fund to prevent repossessions
The Government has announced a new £20 million safety net to help ensure that repossession remains the last resort for struggling mortgage borrowers. According to Housing Minister, Grant Shapps, the Preventing Repossessions Fund gives councils in England the opportunity to offer interest-free loans of less than £5,000, or grants to help ease debt pressures, giving [...]
Launch of £20m fund to prevent repossessions
The Government has announced a new £20 million safety net to help ensure that repossession remains the last resort for struggling mortgage borrowers. According to Housing Minister, Grant Shapps, the Preventing Repossessions Fund gives councils in England the opportunity to offer interest-free loans of less than £5,000, or grants to help ease debt pressures, giving [...]
Arrears and repossession down but worse to come
Last year 36,200 homes were taken back by first-charge mortgage lenders, the lowest annual total since 2007, according to the Council of Mortgage Lenders (CML). Buy-to-let properties accounted for 5,900 repossessions in 2011, up from 4,700 in 2010. However, arrears improved across both the buy-to-let and owner-occupier sectors and as 2011 drew to a close, [...]
Arrears and repossession down but worse to come
Last year 36,200 homes were taken back by first-charge mortgage lenders, the lowest annual total since 2007, according to the Council of Mortgage Lenders (CML). Buy-to-let properties accounted for 5,900 repossessions in 2011, up from 4,700 in 2010. However, arrears improved across both the buy-to-let and owner-occupier sectors and as 2011 drew to a close, [...]
NewBuy Guarantee scheme launches in March
Housing Minister, Grant Shapps, has unveiled a range of measures aimed at helping first-time buyers and boosting prospects for house builders. From March, the NewBuy Guarantee scheme will be on hand to help those buying newly-built properties. The scheme brings lenders, builders and Government together to offer mortgages at a fraction of the deposit currently [...]
NewBuy Guarantee scheme launches in March
Housing Minister, Grant Shapps, has unveiled a range of measures aimed at helping first-time buyers and boosting prospects for house builders. From March, the NewBuy Guarantee scheme will be on hand to help those buying newly-built properties. The scheme brings lenders, builders and Government together to offer mortgages at a fraction of the deposit currently [...]
Buying 6% cheaper than renting
Buying a home in Scotland is cheaper than renting, according to Bank of Scotland. For a three-bedroom house, the typical mortgage payment in the region amounted to £510 in December, or 6% less than the monthly rent of £540 for the same type of property. According to the lender’s research, average home buying costs have [...]
