Mortgage approvals for house purchase were broadly stable according to BoE
June 30, 2017
Bank of England (BoE) statistical release yesterday 29th June 2017: Money and Credit – May 2017
Lending to individuals: lending secured on dwellings.
Net lending secured on dwellings was £3.5 billion in May, up from the 12-month low of £2.7bn seen in April.
Mortgage approvals for house purchase were broadly stable at 65,202, while approvals for remortgaging increased slightly to 42,955.
Annual growth in consumer credit remained strong at 10.3% in May, although below its peak in November 2016.
Read the BoE Money and Credit – May 2017 statistical report in full click here.
You May Also Enjoy
Back-to-school buyer bounce outpaces typical September uplift
New real-time analysis from the UK’s largest property platform Rightmove reveals that buyer demand received a stronger than usual back-to-school boost during the first week of September Buyer demand increased by 5% during the opening week of the month, significantly higher than the average increase of 0.4% seen over the same period during the last…
Read More 
8,500 tenanted homes currently on the market
8,500 tenanted homes currently up for sale as TLP highlights importance of clean client money handovers More than an estimated 8,500 homes are currently being marketed for sale with tenants in situ across England, according to the latest analysis by The Letting Partnership, presenting landlords with the opportunity to acquire an investment generating rental…
Read More 
Which property types take the longest time to buy?
From complex flats and shared ownership homes to new builds and unusual titles, Lyons Bowe reveals which properties can create the biggest conveyancing workload The latest insight from Lyons Bowe has revealed which types of property are most likely to require the largest and most complex conveyancing workload, potentially adding more stages to the journey…
Read More 
Building Site Accidents and Compensation: A Guide for Injured Workers
One mistake, one faulty piece of equipment and an unsafe working setup could cause a construction laborer much more than just aches and pains. One injury can result in medical costs, showing up on working days, reduced income and a path to long recovery. Under certain circumstances, the workers may be entitled to get compensation…
Read More 
First-Time Buyers: Why 4–5 Houses is the Sweet Spot
House hunting before the stress kicks in: Four to five houses is the sweet spot for first-time buyers Just 20% of us feel excited on a first property viewing, rising to 47% by viewings 4 to 5 There’s a U shape trajectory of excitement when it comes to the viewing process However, there is a…
Read More 
Two in five mortgage holders switched banks for a better mortgage deal
Of those who have a mortgage and switched banks, 41% did so to get a better mortgage rate deal and 30% did it to receive an incentive related to their mortgage Only 15% of people moving home switched their bank account during the move, while far more switched broadband (46%), energy (38%), and mobile phones…
Read More