Posts Tagged ‘lending’
Number of approvals for remortgaging increased in August – Bank of England
Bank of England – Money and Credit – August 2018 published today 1st October 2018. Household borrowing growth moderated slightly in August. Annual consumer credit growth slowed to 8.1%, while secured lending growth ticked down to 3.1%. The number of approvals for remortgaging, which has been volatile in recent months, increased to 53,125 in August.…
Read MoreAn increase in total gross advances by 3.3% to £62.4 billion compared to last year according to BoE report.
Bank of England (BoE) – Mortgage Lenders and Administrators Statistics -2018 Q1 published 12th June 2018. Compared to last year, there has been an increase in total gross advances by 3.3% to £62.4 billion. Comparing gross advances to Q4 2017 however, there has been a decrease of 9.6%. The value of new commitments was £61.1…
Read MoreApril saw steady growth in mortgage lending and approvals according to UK Finance
Latest UK Finance – Household Finance Update – April 2018. Gross mortgage lending in April is estimated to have been £20.4bn, 13.3 per cent higher than a year earlier. The number of total mortgage approvals has also risen and is 11 per cent higher, this increase is primarily driven by remortagage approvals which were almost…
Read MoreBuy-to-Let lending decreased in Q4 2017 according to BOE
Bank of England published 13th March 2018 Mortgage Lenders and Administrators Statistics – 2017 Q4 New residential mortgage lending activity decreased in Q4 2017 from the previous quarter. In total £69.1 billion of new residential loans were advanced to individuals during the quarter. This was a 2.5% decrease compared to the previous quarter however a…
Read MoreFlurry of remortgage activity in October according to UK Finance
UK Finance latest update on lending – November 2017 released end of last week for the month October 2017 reveals: Strength in remortgage activity amongst homeowners, alongside stronger first-time buyer numbers, are likely to have been the drivers of mortgage lending in October. Commenting on the data, UK Finance’s Senior Economist Mohammad Jamei said: ‘The anticipated…
Read MoreHousing market has been slowly building up momentum over the last few months according to CML
Press release today from the Council of Mortgage Lenders (CML) headlines ‘Gross mortgage lending £18.2 billion in February’. The Council of Mortgage Lenders estimates that gross mortgage lending reached £18.2 billion in February. Read the CML Gross Mortgage Lending release in full click here. In the Market Commentary report also released today it states: The…
Read Moremortgage market has been resilient and adaptable in 2016 says CML
News release from the Council of Mortgage Lenders (CML) this week headlined ‘Mixed picture in December but first-time buyer lending healthy says CML” New data from the CML released this week reveals house purchase activity increased month-on-month and year-on-year but remortgage and buy-to-let levels decreased. Paul Smee, director general of the CML, commented: “2016 could…
Read MoreLending to first-time buyers in November up on previous month
Press release today from the Council of Mortgage Lenders (CML) headlines ‘House purchase lending up 5% in November’ Home-owners borrowed £11bn for house purchase, up 5% month-on-month and 2% year-on-year. First-time buyers borrowed £4.7bn, up 4% on October and 9% on November last year. Paul Smee, director general of the CML, commented: “November lending reflected stable…
Read MoreTougher buy to let lending rules for landlords
The Prudential Regulation Authority (PRA), the supervisory arm of the Bank of England, has confirmed it will bring in tougher underwriting standards for buy-to-let lenders following an earlier consultation. Tougher lending restrictions are to be imposed on Landlords when applying for buy to let mortgages, the new rules will require banks and mortgage providers to…
Read MoreAverage asking price up 0.7% on month in September says Rightmove
Asking prices in London rose 1.9% from August, rebounding after four straight months of decline, Rightmove says. It added that the recovery this month was “exaggerated by seasonal volatility, with more owners of expensive properties coming to market after the end of the summer holidays.” The average asking price for a house in the UK…
Read MoreAldermore shrugs off Brexit fears with H1 profit increase
Aldermore Group PLC yesterday announced it’s Half Year results for 2016, reporting strong returns and continued growth, profit before tax increased by 50% to £59m. Phillip Monks, CEO, commented: “It has been another strong six months of operational and financial performance as we delivered double digit growth and an underlying return on equity in the…
Read MoreFirst-time buyers continue to drive house purchase lending.
News release today from the Council of Mortgage Lenders (CML) headlined ‘First-time buyer lending up 25% in June compared to a year ago’ On an unadjusted basis, in June: Home-owners borrowed £12.3bn for house purchase, up 29% month-on-month and 12% year-on-year. They took out 68,200 loans, up 26% on May and 8% on June 2015. more… On…
Read MoreUK Mortgage approvals at lowest for over a year
Figures out from the Bank of England (BoE) at the end of last week showed that UK mortgage approvals fell to their lowest level in more than a year in June. This added to the suggestion that the housing market had slowed down prior to the EU referendum, demand had already weakened since the stamp…
Read MoreParagon Group half year results.
The Paragon Group of Companies PLC announced yesterday its half year results for the six months ended 31 March 2016. Commenting on the results, Nigel Terrington, Chief Executive of Paragon, said: “This has been another outstanding performance from Paragon, with strong profit growth complemented by significant progress in our lending activity and further development in…
Read MoreFCA Responsible Lending Review
In their recent press release Finanacial Conduct Authority (FCA) reviews find mortgage firms lending responsibly but scope for improvement on competition. Firms have positively applied the responsible lending requirements, which came into force as part of the Mortgage Market Review (MMR); however, there is scope for improving consumers’ ability to make better choices about mortgage…
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