Posts Tagged ‘mortgage’
annual rate of House price growth little changed in February says Nationwide
Nationwide House Price Index (HPI) report February 2017 released today headlines ‘UK house prices continued to rise steadily in February’. Annual house price growth edges up to 4.5%, slightly higher than January at 4.3%. A month-on-month rise in February of 0.6%. More households in England own outright than with a mortgage. Commenting on the figures,…
Read MoreCity living is becoming increasingly expensive says Lloyds Bank
Lloyds Bank press release yesterday 27th February Affordable Cities Review headlined ‘Home affordability in cities at its worst since 2008’. Home affordability measured by the ratio between average city house prices and average gross local earnings across UK cities is at its worst level since 2008, according to Lloyds Bank’s Affordable Cities Review. In the…
Read MoreGross mortgage borrowing totalled £13.8 billion in January according to BBA
The latest High Street Banking Figures statistical report January 2017 released by the BBA 24th February reveales that gross mortgage borrowing totalled £13.8 billion in January, 6.3% higher than the same period last year, net mortgage borrowing was 2.4% last month, higher than in January 2016. House purchase approval numbers were 2.5% lower than in…
Read MoreMortgage affordability comes out best in Scotland for Q4 2016 says Bank of Scotland
In the latest Bank of Scotland Affordability Review which tracks mortgage affordability for homeowners across Scotland, they state that the proportion of disposable earnings devoted to mortgage payments, for both first time buyers and homemovers in the UK in quarter four (Q4) of 2016 was lowest in Scotland, mortgage payments were 19.8% of disposable earnings,…
Read MoreHomemover numbers fall in 2016 for first time in 5 years
According to the latest Lloyds Bank Homemover Review released this month, the number of people moving home has fallen for the first time in five years. In 2016 the average house price paid by homemovers increased by 7%, from £273,510 in 2015, to a record high of £291,777. Over the past decade there has been…
Read MoreMortgage approvals down in November says BBA
The British Bankers Association (BBA) press release wednesday 28th December, headlined ‘November 2016 figures for the high street banks’. Gross mortgage borrowing of £12.2bn in the month was 5% lower than in November 2015, while net mortgage borrowing is 2.4% higher than a year ago. House purchase approval numbers fell 9% in November 2015 and…
Read MoreCountrywide report good progress despite tough market conditions
Countrywide PLc released their trading update yesterday 24th November headlined ‘Good strategic progress in a challenging market’. Commenting on the Group’s performance, Alison Platt, CEO said: “We have made good progress this year despite tough market conditions since the EU referendum, particularly pleasing is our growth in market share in both Sales and Lettings based…
Read MoreAnnual house price growth eases.
Halifax House Price Index (HPI) report for September 2016 headlines ‘Annual house price growth eases further to 5.8%’ House prices in the three months to September were 5.8% higher than in the same three months of 2015. Prices in the last three months (July-September) were 0.1% lower than in the preceding quarter. Martin Ellis, Halifax…
Read MoreLaunch of new (BTL) cashback mortgages
Launched today by The Mortgage Works (TMW) part of the Nationwide Building Society is a new selection of Buy-to-Let (BTL) mortgages with £250 cashback and free standard valuations, available to both remortgage and house purchase customers. Paul Wootton, managing director of TMW, reportedly said: “We have launched new products with both a cashback of £250…
Read MoreCompetition in mortgage market may drive rates lower.
Last week the Bank of England’s Monetary Policy Committee voted unanimously to keep its monetary policy on hold, maintaining interest rates at 0.25 per cent. The MPC stated, however, that rates could be cut again in the coming months even though the economic impact of the Brexit vote has been less significant than previously expected.…
Read MoreAldermore introduces new limited edition BTL product
Aldermore Group PLC the specialist lender and savings bank announced this week the launch of its lowest ever Buy-to-Let (BTL) product at 2.99% aimed at Private Landlords, for loans up to £1 million. The product applies to private individuals looking to either purchase or remortgage a buy-to-let property, and includes: 2.99% 5-year fixed rate up to…
Read MoreHouse purchase lending down in London
The Council of Mortgage Lenders (CML) published today press release headlined ‘Loans to first-time buyers up but movers down in London’. In it’s news release it begins by mentioning that in the second quarter home buyers in London borrowed £5.5bn for home-owner house purchase, down 23% quarter-on-quarter and 3% on a year ago……more Paul Smee, director…
Read MoreGross mortgage lending increases
The Council of Mortgage Lenders (CML)June gross mortgage lending estimate published yesterday 21st July headlined ‘Gross mortgage lending climbs in June’. The Council of Mortgage Lenders estimates that gross mortgage lending reached £20.7 billion in June. CML senior economist Mohammad Jamei said: “The result of the EU referendum is likely to affect the housing market,…
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 MoreTough times for the over 50’s in the property market.
In a recent Homewise Blog they highlight that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages and facing the prospect of clearing their debt when the deal runs out, this according to new research carried out by the retirement property experts Homewise. Its independent research among over-55s paying…
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