The FSA’s report into lending, due to be published next week, is expected to include proposals to help home owners in negative equity. The Council of Mortgage Lenders estimates that one in 12 homeowners are in negative equity, with their home now worth less than the price they paid for it, making it impossible for [...]
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market is suffering due to fears over the economy. However, the Institution said the number of enquiries from potential new buyers increased marginally in the month, with 3% more surveyors reporting a rise rather than a fall. First-time buyers, in particular, [...]
The Council of Mortgage Lenders (CML) has today reported the number of loans for house purchase rose in August. According to the Council, there were 52,000 loans advanced for house purchase (worth £7.9 billion) in the month – up from 48,700 (£7.2 billion) in July. The Council described today’s figures as “welcome signs of life” [...]
The Council of Mortgage Lenders (CML), which represents lenders who offer around 94% of all residential mortgage lending in the UK, has today reported UK mortgage lending grew in August. According to the Council, lending was 6% higher in August on a monthly basis, attributed to seasonal factors. The figures come after July saw a [...]
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 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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