The Council of Mortgage Lenders (CML) has reported that approvals for house purchase loans increased to 55,000 in October, the highest level since December 2007 and up from a January 2009 low of 23,000. However, October remortgaging approvals remained static on a month earlier at 33,000 and apart from a total of 30,000 in August, [...]
September’s mortgage approvals for house purchases were at their highest level since March 2008, the Bank of England has reported. During the month, lenders endorsed 56,215 loans for home buyers, a 3,000 plus improvement on August. However, remortgaging volumes continued to decline. Commenting on the data, Council of Mortgage Lenders’ economist, Paul Samter, observes: “There [...]
The Council of Mortgage Lenders (CML) has reported that lending for house purchases rose in July, showing annual growth for the first time since early 2007. Approvals increased to 56,000, up 24% on June and 19% on a year earlier. In terms of value, house purchase loans totalled £7.5 billion compared with £7.1 billion in [...]
Mortgage lending activity in Scotland has begun to stabilise, the Council of Mortgage Lenders (CML) reports. In the second quarter of 2009 there were 11,400 house purchase loans taken out across the region, a 50% rise from 7,600 during the previous three months, but nevertheless 39% below the figure for a year earlier. The increase [...]
The Council of Mortgage Lenders (CML) has today revealed that the number of mortgages approved for house purchase soared 23% in June, compared with May. The rise is the fifth consecutive monthly increase and represents the highest level for a year. According to the CML, 45,000 home loans were granted during the month – just [...]
New figures from the Bank of England show the number of mortgages approved for house purchases increasing to 47,584 in June, up from 44,169 in May and reaching their highest level since April 2008. However, over the six months to the end of June, new home loan approvals were down 36% on the same period [...]
The outlook for the UK property market remains positive with the Bank of England reporting a rise in new mortgage approvals during May. The number of loans approved for house purchases increased to 43,414, up from 43,191 in April and marking the fourth consecutive monthly rise. However, in value terms net lending for house purchases [...]
The Council of Mortgage Lenders (CML) has reported a 4% rise in mortgage approvals for house purchases in February. During the month 24,300 loans were sanctioned worth a combined £3.1 billion. The figure compares with 23,400 loans in January worth £3.1 billion but is around one-third of the average February total of 76,000 between 2002 [...]
Bank of England figures show the number of new mortgages rising by 19% during February. Last month, the volume of loans approved for house purchases increased to 37,937, up from 31,791 in January. The figure is at its highest since May of 2008 and compares with a six-month average of 31,500. The Royal Institution of [...]
The Bank of England has reported a slight rise in new mortgage approvals. During December, 31,000 home loans were approved for new purchases, up from 27,000 a month earlier. However, the figure is the second-lowest on record, having edged ahead from the nadir of November. According to the Bank, new mortgage approvals fell by 58% [...]
The Bank of England has reported that mortgage approvals for house purchases fell to 27,000 in November. The record low represents a 67.1% decline on similar approvals for November 2007. A month earlier in October, approvals fell by 1,000 (from September) to 32,000 and November’s figure is therefore 13% down month-on-month, ending a four-month period [...]
The Bank of England has reported that mortgage approvals for house purchases rose slightly during September, to 33,000, compared to 32,000 a month earlier. The increase is the first recorded by the Bank since June 2007. While mortgage lending for new purchases was still below the six month average (£3.5 billion), it gained ground on [...]
Latest figures from the British Bankers’ Association (BBA) show that the number of mortgages approved for house purchases rose slightly during September. According to the seasonally adjusted data 23,422 loans were sanctioned by Britain’s banks and building societies, 10% more than in August (when approvals hit a record low of 21,342) but 57% fewer than [...]
The British Bankers’ Association (BBA) has reported a 64% annual decline in mortgage approvals for house purchases, in August. In all, 21,086 new home loans were sanctioned during the month, compared with 58,564 in August 2007. The figure is 5% down on July 2008 and at its lowest since BBA records began in 1997. August [...]
The Council of Mortgage Lenders (CML) has reported that in July, 47,400 house purchase loans worth £7.1 billion were approved. The figures are similar to June’s but represents a 51% fall in volume and 54% decline in value on July 2007. Remortgages rose by 14% to 85,000 but in value terms were 16% down on [...]
Latest figures from the Bank of England show the number of mortgages approved for house purchases falling in July, to the lowest level since comparable records began, in 1999. The month saw the number of loans for house movers decline to 33,000, down from 35,000 in June and 71% below July 2007 levels. The figure [...]
According to the latest figures from the Council of Mortgage Lenders (CML), the mortgage drought is continuing after the organisation revealed that the number of loans approved for house purchases in the UK has fallen. Figures show that 47,000 home loans were approved compared with 98,000 in June 2007, and down from 52,000 in May [...]
Mortgage approvals for home movers slumped by 20% during May. The British Bankers’ Association (BBA) has reported that total loans approved during the month stood at 27,968 or 56% less than a year earlier. The decline puts lending for house purchases at its lowest level since the association’s records began in 1997. The total value [...]
The British Bankers’ Association has reported a small increase in the number of mortgages for house purchases approved in April, which rose to 38,704, compared with March’s record low of 35,546. The figure is well below the average of the past six months and 39.4% down on April 2007. While last month’s rise shows promise, [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
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