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23/01/2012
Effect Of Recession To Last To 2020
A report into the plight of middle-income earners has found the effect of the recession would be felt until 2020.
Published on Monday, the report by the leading thinktank Resolution Foundation, found that millions of ordinary families were unlikely to see their earnings return to pre-recession levels for some eight years.
The study focuses on the "squeezed middle" and predicts the income of the wealthy will continue to rise over the same period.
The news comes as a lenders' group says the UK mortgage market in the coming year was "difficult to call".
The Council of Mortgage Lenders (CML) said the eurozone crisis had created uncertainty, although householders' real incomes could stabilise.
The latest CML figures showed that UK gross mortgage lending stood at £11.7bn in December.
This was down 12% on November, but up 12% compared with December 2010, the CML said.
(DW)
Published on Monday, the report by the leading thinktank Resolution Foundation, found that millions of ordinary families were unlikely to see their earnings return to pre-recession levels for some eight years.
The study focuses on the "squeezed middle" and predicts the income of the wealthy will continue to rise over the same period.
The news comes as a lenders' group says the UK mortgage market in the coming year was "difficult to call".
The Council of Mortgage Lenders (CML) said the eurozone crisis had created uncertainty, although householders' real incomes could stabilise.
The latest CML figures showed that UK gross mortgage lending stood at £11.7bn in December.
This was down 12% on November, but up 12% compared with December 2010, the CML said.
(DW)
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18 November 2010
Gross Mortgage Lending Falls
Gross mortgage lending in October was an estimated £12.4 billion, unchanged from September but down 9% from £13.6 billion in October 2009, according to new data from the Council of Mortgage Lenders. This is the lowest October total since 2000 (£9.9 billion).
Gross Mortgage Lending Falls
Gross mortgage lending in October was an estimated £12.4 billion, unchanged from September but down 9% from £13.6 billion in October 2009, according to new data from the Council of Mortgage Lenders. This is the lowest October total since 2000 (£9.9 billion).
14 August 2009
UK Repossession Level Falls
The number of mortgage repossessions fell in the second quarter of the year, while cases of arrears levelled off, according the latest figures published today by the Council of Mortgage Lenders (CML). A combination of factors has helped keep mortgage arrears and possessions in check, despite the recession.
UK Repossession Level Falls
The number of mortgage repossessions fell in the second quarter of the year, while cases of arrears levelled off, according the latest figures published today by the Council of Mortgage Lenders (CML). A combination of factors has helped keep mortgage arrears and possessions in check, despite the recession.
18 December 2008
Mortgage Arrears 'Could Reach 500,000', CML Warns
The number of households more than three months behind in their mortgage repayments could reach 500,000, according to stark figures released today. The Council of Mortgage Lenders (CML) have warned that despite action taken by the Government and housing industry, 2009 is expected to be a "very tough year" for the UK mortgage market.
Mortgage Arrears 'Could Reach 500,000', CML Warns
The number of households more than three months behind in their mortgage repayments could reach 500,000, according to stark figures released today. The Council of Mortgage Lenders (CML) have warned that despite action taken by the Government and housing industry, 2009 is expected to be a "very tough year" for the UK mortgage market.
21 November 2008
Home Repossessions On The Rise, CML Reveal
The number of homes repossessed by mortgage lenders has risen by 12% to 11,300 in the last three months, new figures have shown. The Council of Mortgage Lenders (CML) also said 1.44% of mortgages were at least three months in arrears as at the end of September 2008.
Home Repossessions On The Rise, CML Reveal
The number of homes repossessed by mortgage lenders has risen by 12% to 11,300 in the last three months, new figures have shown. The Council of Mortgage Lenders (CML) also said 1.44% of mortgages were at least three months in arrears as at the end of September 2008.
08 February 2008
Home Repossessions On The Rise
The number of people whose homes were repossessed last year rose by more than 20%, according to the latest figures released by the Council of Mortgage Lenders. The new figures showed that 27,100 homes were taken over by lenders in 2007 after people fell behind with repayments - the highest figure since 1999.
Home Repossessions On The Rise
The number of people whose homes were repossessed last year rose by more than 20%, according to the latest figures released by the Council of Mortgage Lenders. The new figures showed that 27,100 homes were taken over by lenders in 2007 after people fell behind with repayments - the highest figure since 1999.
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