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 [...]
In May, net mortgage lending by Britain’s High Street banks grew to £2.6 billion, compared with £1.9 billion in April. Annual growth in net lending (gross lending with repayments and redemptions stripped out) stood at 4.3%, unchanged from April, according to the British Bankers’ Association, while May’s gross mortgage lending of £9 billion was in [...]
New figures from the British Bankers’ Association (BBA) show February’s gross mortgage lending at £8.6 billion, having staged a recovery from January’s low of £8 billion. The number of house purchase loans approved by the UK’s banks leapt 16% year-on-year, to 35,276, having managed a slight increase on January’s figure of 35,154. Furthermore, the value [...]
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 [...]
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. [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 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 [...]
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 [...]
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 [...]
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 [...]
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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