Tag Archives: Mortgage market news

Mortgage Lending Slumps Again Latest Articles, Mortgage News, Property Market News

Small house on mortgage application formRemortgaging is keeping the mortgage market ticking over as lending figures for July slumped again.

Gross mortgage lending for the month was £12.6 billion, says the Council of Mortgage Lenders, speaking for Britain’s top banks and building societies.

The figure was a 1% from June – but 6% down on July 2010, which was also low compared with previous years.

The CML explains the broader trend is house purchase loans are down on earlier months, but remortgaging is up.

“We have also reported a strong pick-up in BTL lending – up by a fifth in Q2 to £3.5 billion – although most of this increase reflected higher remortgage activity,” said the CML’s chief economist Bob Pannell.

“While lending to support house purchase by landlords was its strongest for three years, levels remain very subdued compared with a few years ago and buying by landlords accounts for only about 12% of aggregate market activity.”

Meanwhile, estate agents report a resurgence of buyers looking for homes in July.

The National Association of Estate Agents (NAEA) market report shows agents reported an average 299 home seekers on their books for the month, up from 263 in June – the highest figure since May 2009.

These home hunters are chasing an average 70 properties available per estate agency branch, down from 74 in June.

Summer sales dropped from an average nine to seven per branch.

NAEA president Wendy Evans-Scott said: “It is great to see that interest in property has reached a two year high, especially at a time when, traditionally, estate agents experience a lull in activity as people take a holiday abroad instead of house hunting.

“It seems that people are beginning to reconsider their options when it comes to buying a property. With many sellers now being more realistic about pricing, we hope the market will rejuvenate in the coming months.”


Mortgage lending – the truth behind the statistics Latest Articles, Mortgage News

House made from moneyThe number of home loans increased in May, according to the latest figures from the Council of Mortgage Lenders (CML).

Despite the headline attached to the figures by the CML press office, actual lending year-on-year is down as is the amount home owners borrowed. Continue reading Mortgage lending – the truth behind the statistics


Mortgage lending – the real figures, not the spin Latest Articles

Red arrow shooting down a graphThe true state of the housing market is revealed by blowing away the smoke and breaking the mirrors that expensive PR erect to deflect the truth.

The Council of Mortgage Lenders, the industry voice for all the UK’s largest banks and building societies, bravely states that remortgaging is up for the first quarter of 2011.

Continue reading Mortgage lending – the real figures, not the spin


Buy to let lending is down despite what lenders say Latest Articles

Model house on Mortgage form

Buy to let mortgage lending, in the first three months of this year, was down on the previous quarter despite the number of loan deals and lenders increasing.

Lending for the quarter ending March 31was 27,600 new loans, totalling £2.9 billion, according to the Council of Mortgage Lenders, the industry voice of the UK’s major banks and building societies.

Continue reading Buy to let lending is down despite what lenders say


Buy to let landlords offered choice of 463 mortgage deals Latest Articles

Businessman handshake in the cityLenders are encouraging buy to let landlords to invest in more property by increasing the number of mortgages and dropping interest rates.

Independent financial information firm Moneyfacts monitors the market and has disclosed borrowers can choose from around 463 buy to let deals – 55% up on the 299 mortgages offered 12 months ago.

Continue reading Buy to let landlords offered choice of 463 mortgage deals


Buying a home can save £100 on renting it Latest Articles, Property Sales & Sourcing

House on Calculator

Due to low mortgage interest rates, buying a home is becoming more affordable than renting.

The monthly cost of buying a three-bed home is £608, £98 lower than renting the same property, according to a study by The Halifax.

Continue reading Buying a home can save £100 on renting it


Buy to let mortgage options double for landlords Latest Articles

Buy to let borrowers and property investors can choose from almost 300 mortgage packages – more than double the number available a year ago.

Competition between banks and building societies has hotted up as more lenders joined the market, and is set to intensify as more prepare to start lending in the coming months. Continue reading Buy to let mortgage options double for landlords


CML slams mortgage reform without reading the details Latest Articles

The industry-voice of Britain’s mortgage lenders has already slammed a European Commission proposal to help borrowers before appearing to read the document in detail. 

The Council of Mortgage Lenders (CML) claims more moves to protect consumers are unnecessary because the UK already has a highly regulated financial services industry.  Continue reading CML slams mortgage reform without reading the details


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