Menu
28/08/2001
New mortgage demand set to fall following peak in applications
The British Bankers' Association (BBA) has revealed that the demand for new mortgages looks set to fall this autumn following a record level of mortgage lending last month.
During the July peak, much of the new lending reflected the introduction of new products by some banks, particularly for re-mortgaging, rather than a substantial increase in lending by institutions.
The report of a fall in new mortgage approvals for house buying also coincided with the Royal Institution of Chartered Surveyors' report last week of fewer enquiries about houses for sale.
Analysts now predict a cooling in the UK housing market following sharp price rises over the past couple of years.
The slowdown in mortgage demand is expected even though mortgages are considered to be affordable, given that interest rates are low and mortgage lenders are continuing to offer attractive deals in a bid to compete for customers. (MB)
During the July peak, much of the new lending reflected the introduction of new products by some banks, particularly for re-mortgaging, rather than a substantial increase in lending by institutions.
The report of a fall in new mortgage approvals for house buying also coincided with the Royal Institution of Chartered Surveyors' report last week of fewer enquiries about houses for sale.
Analysts now predict a cooling in the UK housing market following sharp price rises over the past couple of years.
The slowdown in mortgage demand is expected even though mortgages are considered to be affordable, given that interest rates are low and mortgage lenders are continuing to offer attractive deals in a bid to compete for customers. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
07 August 2009
Mortgage Repossession 'Last Resort'
It has emerged that new legislation will require that judges in Northern Ireland should now see repossession proceedings against homeowners as a last resort. According to details just made public, this is part of a repossession protocol which has been announced by the Lord Chief Justice, Sir Declan Morgan.
Mortgage Repossession 'Last Resort'
It has emerged that new legislation will require that judges in Northern Ireland should now see repossession proceedings against homeowners as a last resort. According to details just made public, this is part of a repossession protocol which has been announced by the Lord Chief Justice, Sir Declan Morgan.
19 March 2004
FSA fine Allied Dunbar £725,000 over 'mishandled' complaints
Financial watchdog, the Financial Services Authority (FSA), has fined Allied Dunbar Assurance plc £725,000 for "serious flaws" in procedures for handling mortgage endowment complaints. An FSA investigation revealed that mishandled complaints between May 2001 and April 2003 had exposed a large number of Allied Dunbar customers to potential loss.
FSA fine Allied Dunbar £725,000 over 'mishandled' complaints
Financial watchdog, the Financial Services Authority (FSA), has fined Allied Dunbar Assurance plc £725,000 for "serious flaws" in procedures for handling mortgage endowment complaints. An FSA investigation revealed that mishandled complaints between May 2001 and April 2003 had exposed a large number of Allied Dunbar customers to potential loss.
17 July 2001
UK INFLATION REMAINS AT TWO YEAR HIGH
UK inflation has remained at a two-year high, official figures have revealed. The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
UK INFLATION REMAINS AT TWO YEAR HIGH
UK inflation has remained at a two-year high, official figures have revealed. The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
18 October 2001
Mortgage lending drops following previous record month
Mortgage lenders have reported a fall in demand for home loans in September. The Council of Mortgage Lenders (CML) said mortgage lending by banks and building societies fell to £14.3bn last month, from a record £16.
Mortgage lending drops following previous record month
Mortgage lenders have reported a fall in demand for home loans in September. The Council of Mortgage Lenders (CML) said mortgage lending by banks and building societies fell to £14.3bn last month, from a record £16.
20 January 2006
Mortgage lending shows strong growth
Mortgage lending was strong at the end of 2005, according to the latest figures from the Council of Mortgage Lenders. The CML said that an estimated £26.3 billion was lent to borrowers in December, a 25% increase on figures from the same month in 2004.
Mortgage lending shows strong growth
Mortgage lending was strong at the end of 2005, according to the latest figures from the Council of Mortgage Lenders. The CML said that an estimated £26.3 billion was lent to borrowers in December, a 25% increase on figures from the same month in 2004.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
