The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
The Council of Mortgage Lenders (CML) has today reported a fall in home repossessions. According to the Council, lenders seized 9,000 properties in the April to June period – 100 less when compared with the first three months of the year. Meanwhile, there were 18,100 repossessions in the first half of 2011, compared with compared [...]
The Council of Mortgage Lenders (CML) has today reported the number of loans for house purchase rose in June. According to the Council, there were 46,700 loans advanced for house purchase in the month – a rise of 22% compared with the previous month but 11% lower on an annual basis. However, despite the annual [...]
A report by the Council of Mortgage Lenders (CML) has revealed 827,000 mortgage borrowers are in negative equity (a mortgage worth more than their property). However, the figures which relate to the first quarter of the year, are not as bad as they were in the early 1990s, when around 1.6 million households were trapped [...]
The Council of Mortgage Lenders (CML) has today reported a pick up in mortgage lending for the month of June. According to the Council, gross mortgage lending last month totalled £12.9 billion – this represented a 16% rise on a monthly basis but was 3% lower compared with June 2010. Meanwhile, the CML said mortgage [...]
The Council of Mortgage Lenders (CML) has reported that the number of loans for house purchase rose in May. According to the Council, there were 41,500 loans worth £5.9 billion advanced for house purchase in the month, up from 40,800 in April. However, the figure remains lower than the 43,800 loans advanced in May 2010. [...]
The Council of Mortgage Lenders (CML) today reported a rise in mortgage lending for the month of May. According to the Council, mortgage lending rose 12% in May compared with April as demand was boosted by the public bank holidays. Gross mortgage lending in the month totalled £11.3 billion, said the CML. The figure was [...]
The Council of Mortgage Lenders (CML) today reported a fall in mortgage lending for the month of April. According to the Council, mortgage lending fell to £9.8 billion last month, down 14% from £11.4 billion the previous month and 5% lower than the £10.3 billion a year earlier. The CML attributed the fall to the [...]
The Council of Mortgage Lenders (CML) has today reported a rise in remortgaging loans as homeowners anticipated interest rate hikes. According to the CML, there were almost 34,000 remortgage loans advanced in March – 16% higher compared with February and a rise of 17% on an annual basis. Remortgaging has remained subdued during the historically [...]
The Council of Mortgage Lenders (CML) has today reported an increase in repossessions. According to the Council, lenders seized 9,100 properties in the January to March period – a rise of 15% on the previous quarter. However, it was 10% lower when compared with the same period last year. Experts have previously argued that many [...]
The Bank of England has today revealed mortgage approvals rose in March. According to the Bank, there were 44,000 loans approved in the month, up from February’s 43,000. However, the figure remains well below the 51,000 approved in the same month a year ago. The figures come a day after the Council of Mortgage Lenders [...]
The Council of Mortgage Lenders (CML) has today said mortgage lending continues to remain weak, suggesting the housing market will remain subdued this year. According to the Council, gross mortgage lending for March was 2% lower in March on an annual basis. However, on a monthly basis, gross lending rose 21% to £11.3 billion, compared [...]
The Council of Mortgage Lenders (CML) has today reported mortgage lending increased in February. Mortgage lending rose by 8% in February on a monthly basis but was down 12% on the year. There were 32,300 approvals during the month with first-time buyers making the biggest contribution with 12,400 mortgages worth £1.4 billion. First-time buyers are [...]
The Council of Mortgage Lenders (CML) has today said mortgage lending continues to hover at low levels as the housing market remains subdued. According to the Council, gross mortgage lending for February totalled £9.5 billion - relatively unchanged from January’s figure. The CML said the housing market remained “stuck in a rut” and is likely [...]
The Council of Mortgage Lenders (CML) has today reported mortgage lending plunged in January. Mortgage lending fell by 29% in January on a monthly basis, while lending was also 12% down on the year. There were just 28,500 approvals during the month - the lowest level since February 2009. The Council highlights that traditionally December [...]
The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in January. Mortgage lending fell by 13% in January compared with December to £9.2 billion - the lowest level for a year, according to the CML. However, it was a 5% rise on January 2010 levels - the first year-on-year increase since [...]
The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in December. However, the month is traditionally a quiet one as prospective buyers opt to wait until the New Year to purchase a home. The number of loans approved for those buying a new home stood at 39,000 during the month – [...]
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the fifth consecutive quarter in which they have fallen. According to the Council, lenders seized 7,900 properties in the October to December period - an 11% fall from the 8,900 in the previous quarter. It was also 26% lower than [...]
The British Bankers’ Association (BBA) has today revealed a further fall in the number of new mortgages approved by the major banks in December. According to the BBA, the number of new mortgages approved in the month fell to 28,726, down from 29,696 in November - representing the lowest figure since January 2009. Net mortgage [...]
The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in December. Mortgage lending fell by 6% in December compared with November, said the Council. According to the CML, mortgage lending totalled £11 billion - this was 18% lower compared with December 2009 - when buyers were rushing to beat the end [...]
Rics: Housing market remains in the doldrums
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
CML: Mortgage lending edges higher in July
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
UK inflation edges higher in August
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]
Fresnillo down on silver prices
European equities markets were lower Monday on the possibility that Greece could default soon and on speculation that Moody’s Investors Service could cut its rating on several big banks with holdings tied to Greece. The FTSE 100 was down 1.63 percent to 5,129.62 in London, while the FTSE 250 dropped 1.65 percent to 9,983.75 as [...]
IFS warns of tough times for UK households
A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]
ICB final report recommends ring-fencing
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]
Tullow Oil leads 100 in London
European equities markets were significantly lower Friday on an increased possibility that Greece could default on its debt as soon as this weekend, raising the concern level over the European region’s debt problems and ratcheting up worries that the economic recovery is faltering. Additionally, markets reacted to the resignation of European Central Bank board member [...]
SMMT: UK car sales rise in August
The Society of Motor Manufacturers and Traders (SMMT) have revealed UK car sales saw their first rise in 14 months in August. According to the trade body, car sales rose by 7.3% in August compared with the same month in 2010, with sales of smaller cars rising by more than 30%. The Ford Fiesta remained [...]
Factory gate inflation higher than expected in August
The Office for National Statistics (ONS) has today revealed UK producer output prices held steady in August – remaining at the highest annual rate since October 2008. According to the ONS, output prices (factory gate) annual inflation for all manufactured products held steady at July’s upwardly revised reading of 6.1% in August. The figures were [...]
US exports surge, Obama unveils jobs plan
The Commerce Department has revealed US exports hit an all-time high in July, while imports fell. According to official figures, exports surged 3.8% to $178 billion (£111 billion) after two months of declines. The rise in exports was attributed to strong overseas sales of manufactured goods, particularly to countries in Central and South America. Meanwhile, [...]
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