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11/10/2013
House Purchase Lending Increases
Total home-owner house purchase lending continues to grow, up 7% on July and 15% on August last year, according to the Council of Mortgage Lenders (CML).
First-time buyers took out 27,100 loans in August, an increase of 7% on July and of 33% compared to August 2012.
Despite a slight decline in total gross lending in August, lending for home-owner house purchase continued to show growth. In total, 61,300 house purchase loans were advanced in August, up 7% on July and 15% compared to August 2012. This amounted to £9.7bn in total, a 7% increase on July and an increase of 20% by value compared to August last year.
Paul Smee, director general of the CML, commented: "The healthy growth in all lending areas compared to the same time last year is indicative of more confidence in the market. The high number of borrowers, in particular first-time buyers, opting for fixed rates reflects the attractive pricing currently on products which can provide helpful stability to borrowers for the next few years."
(CD/IT)
First-time buyers took out 27,100 loans in August, an increase of 7% on July and of 33% compared to August 2012.
Despite a slight decline in total gross lending in August, lending for home-owner house purchase continued to show growth. In total, 61,300 house purchase loans were advanced in August, up 7% on July and 15% compared to August 2012. This amounted to £9.7bn in total, a 7% increase on July and an increase of 20% by value compared to August last year.
Paul Smee, director general of the CML, commented: "The healthy growth in all lending areas compared to the same time last year is indicative of more confidence in the market. The high number of borrowers, in particular first-time buyers, opting for fixed rates reflects the attractive pricing currently on products which can provide helpful stability to borrowers for the next few years."
(CD/IT)
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Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
02 June 2005
UK house price rise continues to level off
According to the latest survey on house prices, growth in the sector has slowed to its lowest level in almost a decade. The report from the Nationwide Building Society has revealed that house prices have risen by just 5.5% in the year ending May, the lowest year-on-year increase since August 1996.
UK house price rise continues to level off
According to the latest survey on house prices, growth in the sector has slowed to its lowest level in almost a decade. The report from the Nationwide Building Society has revealed that house prices have risen by just 5.5% in the year ending May, the lowest year-on-year increase since August 1996.
18 September 2003
Lending to home-buyers breaks monthly record
According to the latest survey from the Council of Mortgage Lenders (CML), borrowing for house purchase topped £11.5 billion in August – the highest figure since CML monthly records began. This figure now accounts for 48% of total lending and compares with £11 billion (45%) in July, and £10.8 billion (52%) in August last year.
Lending to home-buyers breaks monthly record
According to the latest survey from the Council of Mortgage Lenders (CML), borrowing for house purchase topped £11.5 billion in August – the highest figure since CML monthly records began. This figure now accounts for 48% of total lending and compares with £11 billion (45%) in July, and £10.8 billion (52%) in August last year.
13 February 2009
OFT Consults On Second Charge Lending Guidance
The Office of Fair trading (OFT) today launched a consultation on draft guidance for businesses engaged in second charge lending. Second charge loans, or 'homeowner loans', involve consumers with an existing mortgage taking out further personal borrowing secured against their home.
OFT Consults On Second Charge Lending Guidance
The Office of Fair trading (OFT) today launched a consultation on draft guidance for businesses engaged in second charge lending. Second charge loans, or 'homeowner loans', involve consumers with an existing mortgage taking out further personal borrowing secured against their home.
14 September 2010
UK Inflation Remains Unchanged
The UK's Consumer Prices Index (CPI) remained unchanged in August at 3.1%, the latest figures from the Office of National Statistics has revealed. This means that the figures remains above the Bank of England's 2% target. The high rate was attributed to rises in the cost of air fare, clothing and food. Air fares rose by 16.
UK Inflation Remains Unchanged
The UK's Consumer Prices Index (CPI) remained unchanged in August at 3.1%, the latest figures from the Office of National Statistics has revealed. This means that the figures remains above the Bank of England's 2% target. The high rate was attributed to rises in the cost of air fare, clothing and food. Air fares rose by 16.
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
