Posts Tagged ‘loans’
More loans taken out in first 2 months of 2017 than any year since 2007 says CML
News release yesterday 11th April 2017 from the Council of Mortgage Lenders (CML) Monthly Lendng Trends for February 2017 headlined ‘Home buying activity up 7% in February’. The CML data revealed house purchase activity increased month-on-month and year-on-year, driven by first-time buyer activity. Remortgage activity continued year-on-year growth while buy-to-let declined. Home buyers borrowed £8.9bn,…
Read MoreApprovals of loans secured on dwellings fell slightly in February according to (BoE)
The Bank of England (BoE) monthly Money and Credit statistical release published yesterday 29th March 2017. Key points from the data to the end of February 2017 for lending to individuals included: Lending secured on dwellings rose by £3.5 billion in February, similar to the flows in recent months. Approvals of loans secured on dwellings…
Read MoreDrop in loans to home buyers in October
Council of Mortgage Lenders (CML) press release published yesterday 14th December headlined ‘8% fall in loans to home-buyers in October’ The news release leads: Home-owners borrowed £10.5bn for house purchase, down 8% month-on-month and 11% year-on-year. They took out 57,800 loans, down 8% on September and 13% on October 2015. more… Paul Smee, director general of…
Read MoreBarclays fixed mortgage rate cuts from today
Contrary to predictions by George Osborne pre the EU referendum vote that borrowing costs would rise if we voted to leave the EU, rates are actually now falling after the vote to “Brexit”. Barclays is cutting mortgage rates from today across its two, three, five and 10-year fixed, low LTV range. Two-year fixed at 1.35%,…
Read MoreMortgage approvals down on the average in May
The Money and Credit statistical release for May 2016 released yesterday by the Bank of England (BoE) stated the following re Mortage Approvals: The number of loan approvals for house purchase was 67,042 in May, compared to the average of 70,598 over the previous six months. The number of approvals for remortgaging was 42,919, compared…
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 MoreSubstantial increase in remortgage lending
The Council of Mortgage Lenders (CML) data shows on an unadjusted basis, lending in January. Home-owners borrowed £8.4bn for house purchase, down 25% month-on-month but up 12% year-on-year. They took out 46,200 loans, down 27% on December but up 5% on January 2015. First-time buyers borrowed £3.3bn in January, down 27% on December but up 14% on January…
Read More25% rise in mortgage approvals in November
The number of UK mortgage approvals in November rose 25% to 76,295 compared to a year ago, according to the British Bankers’ Association last thursday. A 20% increase in loans for house purchases was seen, a figure of 44,960 was recorded, this was below the estimates of 46,000, remortgaging surged 31% last month to 23,446…
Read MorePossible cap on loans to BTL landlords
At present owner-occupiers are treated differently to would be landlords applying for loans, the Bank of England at present has powers to cap borrowing by owner-occupiers where it does not for landlords. Officials are watching closely for lenders who are being too accommodating for would be landlords when it comes to satisfying criteria when applying…
Read MoreFigures for mortgage repo’s and arrears
Data released by the Council of Mortgage Lenders shows that repossessions are at their lowest rate since records began, there has been a continued fall in repossessions in the second quarter of 2015, mortgage arrears also continue to fall. Figures showed that 2,500 properties were taken into possession in the second quarter of 2015, that…
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 More