Posts Tagged ‘lending’
Metro Bank lending more than doubles.
Shares in Metro Bank edged higher early today, the Bristish lender which listed on the London Stock Exchange in March and opened the first branch of Metro Bank in Holborn in central London, revealed its first quarter loss narrowed on the back of solid growth in commercial lending and residential mortgages. Metro Bank said its…
Read MoreLending up in February says CML
A press release published yesterday by the Council of Mortgage Lenders (CML) stated on an unadjusted basis, lending in February: Home-owners borrowed £8.7bn for house purchase, up 4% month-on-month and 21% year-on-year. They took out 48,000 loans, up 4% on January and 12% on February 2015. First-time buyers borrowed £3.4bn, up 3% on January and 21% on February last year. This totalled 22,000 loans, up…
Read MoreMortgage approvals in January
UK mortgage approvals reached a 2 year high in January according to data recently released from The Bank of England, mortgage approvals for house purchases were numbered at 74,581 in January from 71,335 in December. Consumer credit is also on the rise, many households spend more as they see the value of their home rise…
Read MoreGross lending up year on year.
The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £17.9 billion in January. This is 9% lower than December’s lending total of £19.8 billion, but 21% higher than the £14.8 billion lent in January last year. CML economist Mohammad Jamei reportedly said: “Lending started the year on a positive note. Our monthly…
Read MoreHouse purchase lending up year on year last November.
According to a recent report by the Council of Mortgage Lenders (CML) house purchase lending was up 18% year on year last November. Home-owner house purchase lending totalled £10.7bn in November, down 9% on October but up 18% on November 2014. First-time buyers borrowed £4.2bn for home-owner house purchase, down 9% on October but up 14%…
Read MoreBleak future for BTL landlords with mortgaged properties.
The attack on the buy-to-let sector by the government since the election is certainly having its effect, new regulations and crippling taxation are putting investors who purchase mortgaged properties into a position whereby they are set to lose money within 5 years, regardless of which region they intend to invest in, that is according to…
Read MoreLondon house prices to almost double in 10 years.
A study compiled by the Centre for Economics and Business Research for the National Association of Estate Agents (NAEA) and the Association of Residential Letting Agents, forecasts an average property price in London is set to almost double in ten years. As housing supply shortages continue it will only add to the upward pressure on…
Read MoreAugust house purchase lending….
According to the Council of Mortgage Lenders August house purchase lending was down 9% on July, but up 2% on last year. First-time buyers, home movers, home-owner remortgage and buy-to-let all saw a monthly decline in lending in August but an uptick (significant for buy-to-let) compared to August 2014. This is a normal seasonal trend,…
Read MoreBank of England figures for July
Bank of England figures published yesterday showed that UK mortgage approvals rose in July to their highest level since February 2014, numbers were up by 16.4% to 68,764, this is in contrast to the number of mortgage approvals falling throughout 2014. Mortgage approvals have risen in five of the past seven months, this trend is…
Read MoreNew Halifax mobile tool for customers on the move.
Halifax has announced today that it has launched a mobile Agreement in Principle (AIP) tool which enables customers to receive an instant lending decision while they are on the move in less than fifteen minutes. This new tool will provide a simpler and more efficient way that customers can get an agreement in principle, they…
Read MoreNew property hot spots around London
House price affordability in London is putting pressure on buyers to look to the commuter belt to find a home within their price range, latest data from the Land Regsitry shows annual growth of just more than 9%, making the average London house worth £475,961, in the South-East, annual price rises are also just over…
Read MoreMortgages extending into retirement
Data from the Council of Mortgage lenders reveals that a third of new mortgages being taken out today will extend beyond their 65th birthday, this situation is being created because some buyers are entering the property market at an older age and the duration of some mortgages is longer term. The new figures were revealed…
Read MoreBuyers holding back
Now with just four weeks until the election on 7th May it appears the property market is stalling, can anyone blame buyers with some of the housing policies that Labour are proposing. This is probably a blip until the outcome becomes clear, Labour have voiced strongly their intentions about introducing a mansion tax, industry analysts…
Read MoreMonitoring of Buy-to-Let mortgages
It appears that buy-to-let lending is on the increase with January approvals up 6 per cent on the previous month and up 12 per cent on the same period in 2014, these figures are not consistent with those for the overall mortgage market with both first time buyer and house mover mortgages having declined. The…
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