News Tag: gross
February 18, 2010
Gross mortgage lending plummeted in January, adversely affected by the end of the stamp duty holiday.
The Council of Mortgage Lenders (CML) puts the gross figure at £9.1 billion, down 32% from £13.4 billion in December and 21% year-on-year.
While a decline is typically experienced between December and January, advances were at their lowest since February 2000 (£7.9 billion), December having received a house ...
Mortgage lending plummets in January
by Gill Montia
December 23, 2009
Gross mortgage lending in November showed a slight monthly rise, according to the British Bankers' Association (BBA).
The figure stood £9.2 billion but was still 12% down on a year earlier.
However, banks approved £6.6 billion in house purchase loans, up from £6.1 billion in October and a 200% increase on November of last year.
In terms of volume, house purchase approvals nudged up from ...
New mortgage lending continues recovery
by Gill Montia
September 23, 2009
The British Bankers' Association (BBA) has reported that in August, gross mortgage lending by the UK's High Street banks followed a similar pattern to earlier months of the year.
Net lending (gross lending with repayments and redemptions stripped out) returned to trend, increasing by £2.8 billion, compared to a rise of £1.9 billion in July.
Last month 38,095 home loans were approved for house ...
Bank mortgage lending stabilises
by Gill Montia
September 18, 2009
Mortgage lending showed a seasonal dip in August, registering a 13% decline on July.
New figures from the Council of Mortgage Lenders (CML) estimate gross lending for the month at £12.6 billion, compared with a revised total of £14.5 billion a month earlier.
The fall stands at 37% when compared to gross lending of £19.9 billion in August of last year.
Reflecting on the ...
Mortgage lending shows August dip
by Gill Montia
June 23, 2009
The British Bankers' Association (BBA) has published its latest mortgage lending statistics showing that in May, the number of loans approved for house purchases rose to 31,162.
The figure is up from 29,018 in April and sports an increase of 15.8% on May 2008.
However, gross lending fell to £7.7 billion last month, a figure last seen in February 2001 and down ...
House purchase loans show further rise
by Gill Montia
June 22, 2009
The Council of Mortgage Lenders (CML) has updated its 2009 forecast for the UK housing market, reducing its estimate for repossessions from 75,000 to 65,000.
The body, whose members provide 98% of all residential mortgage lending in the UK, explains that while the housing and mortgage markets remain "extremely challenging" existing borrowers are benefiting from lower interest rates.
Other factors that should ...
CML downgrades 2009 repossession estimate to 65,000
by Gill Montia
May 21, 2009
Gross mortgage lending declined to an estimated £10.4 billion in April, the Council of Mortgage Lenders (CML) has reported.
The total fell 9%, from £11.4 billion, in March and is 60% below the £26.1 billion figure for April 2008.
The body points out that seasonal factors have to be taken into account as Easter fell in April in 2009 and in March in ...
Gross mortgage lending 60% down
by Gill Montia
March 19, 2009
The Council of Mortgage Lenders (CML) has reported that gross mortgage lending fell to an estimated £9.9 billion in February.
The figure represents a 15% decline on January's total of £11.7 billion and is 60% below that of February 2008.
The CML points out that February is typically the weakest month for mortgage completions, however, the drop between January and February is normally between ...
Mortgage lending down 60%
by Gill Montia
February 19, 2009
The Council of Mortgage Lenders (CML), which represents 98% of the UK's residential mortgage providers, has reported that gross mortgage lending declined in January, to an estimated £12.4 billion.
The total is down 8% on December and 52% year-on-year.
Traditionally a slight fall is recorded between December and January, however, last month's figure is at its lowest since April 2001.
The CML's head of ...
Gross mortgage lending down 52%
by Gill Montia
December 18, 2008
The Council of Mortgage Lenders (CML) has reported that gross mortgage lending in November stood at around £14.6 billion.
During the month, the value of home loans provided by CML members fell 22% on October and 51% on November of 2007.
The Council points out that while there is typically a decline in gross lending from October to November, the fall ...
Gross mortgage lending down 51% on the year
by Gill Montia
October 20, 2008
The Council of Mortgage Lenders (CML) has reported that gross mortgage lending fell to an estimated £17.7 billion in September.
The figure represents a 10% decline on August and is 42% below the level recorded in September of 2007.
While a seasonal fall is to be expected between August and September, £17.7 billion is the lowest gross lending figure since January 2005 and the ...
Gross mortgage lending slumps 42%
by Gill Montia
August 20, 2008
The Council of Mortgage Lenders (CML) has published data for July and is describing gross mortgage lending for the month as "subdued".
The Council's members, which provide around 98% of all residential mortgage lending in the UK, collectively lent £24.8 billion.
The figure represents a 27% decline on July 2007 but is 5.0% up on the level for June 2008, when lending decreased ...
July mortgage lending 27% down year-on-year
by Gill Montia
