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News Tag: mortgage approvals

October 29, 2012

Mortgage approvals increased in September

by Jan Harris
Mortgage approvals up in September
An increase in the number of mortgage approvals in September suggests that the ‘Funding for Lending’ scheme, launched by the Treasury and the Bank of England, may be starting to give the property market a boost. According to Bank of England figures, the number of loans approved for house purchase increased by 2,103 to 50,024 last month, while the number of loans approved ...




June 28, 2012

Mortgage approvals and lending fall

by Jan Harris
Mortgage approvals and lending fall
Borrowers were more cautious in May according to figures from the British Bankers Association (BBA) which showed an increased focus on reducing debt. Mortgage repayments were higher than lending for the first time, according to the BBA’s figures. Net mortgage lending fell by £73 million in May, the first time it has gone into reverse since the BBA began keeping records ...




May 30, 2012

Credit card lending contracted in April

by Jan Harris
Credit card lending contracted in April
Credit card lending contracted in April, representing the fourth time it has contracted in the past six months and suggesting that consumer confidence remains low. Repayments exceeded new borrowing by £118m last month, marking the biggest monthly contraction since August 2006, according to the latest figures from the Bank of England. Other types of personal lending increased by £400 million in ...




April 27, 2012

Mortgage approvals fell unexpectedly in March

by Jan Harris
Mortgage approvals fell unexpectedly in March
Economists had expected mortgage approvals to increase to 34,000 in March but instead the latest figures from the British Bankers Association show they actually fell, to 31,888. This was significantly lower than 32,840 in February and the 25-month high in January, when 38,233 mortgages were approved. The slump in March represents an 11-month low and suggests an underlying weakness in the housing ...




March 29, 2012

House prices and mortgage approvals fall

by Jan Harris
House prices and mortgage approvals fall
House prices have fallen for the first time in six months, with the decline attributed to changes in stamp duty. The average house price in March was £163,327, 0.9 per cent lower than in March 2011. It was the largest fall in house prices since June last year. Nationwide’s figures showed a fall in nearly every region of the UK, compared ...




March 23, 2012

Consumers holding back on borrowing

by Jan Harris
Consumers holding back on borrowing
Personal loan, credit card and overdraft borrowing is being repaid at the highest rate since January 2011. The British Bankers’ Association (BBA) reported net consumer credit repayments of £305 million in February. Consumers borrowed £7 billion on credit cards but £7.3 billion was repaid. The ongoing squeeze on household incomes is making consumers more careful with their spending with a net repayment in ...




February 29, 2012

New mortgage approvals reach two year high

by Jan Harris
New mortgage approvals reach two year high
Mortgage approvals have reached their highest level since December 2009 according to Bank of England figures. 58,728 home loans were approved in January 2012, a 30 per cent increase from January 2011, following increased activity among first-time buyers. A two-year stamp duty exemption on properties between the value of £125,000 and £250,000 will end in March, and many first-time buyers are ...




February 20, 2012

Mortgage lending 12% lower in January

by Jan Harris
Mortgage lending 12% lower in January
Gross mortgage lending fell to £10.5bn in January, 12 per cent lower than the total for December. However the figures represent a year-on-year increase of 10 per cent, the Council of Mortgage Lenders (CML) said. January was the sixth consecutive month of higher lending compared with the previous year. Home loan approvals also increased in January, by 30 per ...




November 1, 2011

Nationwide: House prices rise 0.4% in October

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed prices rose by 0.4% in October on a monthly basis. On an annual basis, house prices are now 0.8% higher than this time last year – representing the first yearly rise in six months – with the average UK home costing £165,650. However, when comparing prices in the three months ...




October 11, 2011

Rics: Economic fears hit housing market confidence

by Kay Mitchell
”Rics:
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, are struggling to get a foot onto ...




DCLG: House prices rise 0.6% in August

by Kay Mitchell
”DCLG:
Official data from the Department for Communities and Local Government (DCLG) today revealed UK house prices rose by 0.6% in August compared with July. However, on an annual basis, house prices are 1.3% lower, taking the average UK house price to £208,476. The data from the DCLG is based on mortgage completions figures collected by the Council of Mortgage Lenders (CML). In comparison, ...




September 29, 2011

Nationwide: House prices rise just 0.1% in September

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed prices rose by just 0.1% in September on a monthly basis. On an annual basis, house prices are now 0.3% lower than this time last year with the average UK home costing £166,256. Meanwhile, when comparing prices in the three months to the end of September with ...




September 1, 2011

Nationwide: House prices down 0.6% in August

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed prices fell by 0.6% in August on a monthly basis – the fastest pace since October 2010. On an annual basis, house prices are now 0.4% lower than this time last year with the average UK home costing £165,914. The latest figures suggest the housing market will remain subdued ...




August 23, 2011

Mortgage approvals nudge ahead

by Gill Montia
Mortgage approvals nudge ahead
The UK's High Street banks approved 74,590 mortgages in July, with the figure up from 71,521 in June and ahead of the previous six-month average (69,803). According to the British Bankers' Association (BBA) house purchase approvals came in at 33,417, activity having gathered pace since June (32,123) and exceeded the previous six-month average (30,695). At £151,500, the value of the typical house purchase loan ...




July 29, 2011

Nationwide: House prices edge 0.2% higher in July

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed house prices crept up by 0.2% in July. On an annual basis, house prices are now just 0.4% lower than this time last year with the average UK home costing £168,731. The housing market remains subdued as a lack of buyers, together with the ongoing lack of mortgage ...




June 30, 2011

Nationwide: House prices unchanged in June

by Kay Mitchell
”Nationwide:
The latest house price index from the Nationwide Building Society has revealed house prices remained unchanged in June after a 0.3% rise in May – in line with expectations. On an annual basis, house prices are now 1.1% lower than this time last year with the average UK home costing £167,208. The housing market remains subdued as a lack of buyers, together ...




March 23, 2011

HMRC: House sales rise in February

by Kay Mitchell
HMRC: House sales rise in February
HM Revenue & Customs (HMRC) has today revealed a slight rise in the number of homes sold in February in the UK. According to HMRC, 57,000 homes worth at least £40,000 or more were sold in the month – 4,000 more than January‘s levels. The figures come as the British Bankers’ Association (BBA) revealed a slight rise in the number of new mortgages ...




February 23, 2011

HMRC: House sales slump in January

by Kay Mitchell
HMRC: House sales slump in January
HM Revenue & Customs (HMRC) has revealed a slump in the number of homes sold in January in the UK. According to HMRC, just 54,000 homes worth at least £40,000 or more were sold in the month – the lowest number since January 2010. The figures are revealed as the British Bankers’ Association (BBA) reported a further fall in the number of new ...




January 27, 2011

Hometrack: House prices fall seventh consecutive month

by Kay Mitchell
Hometrack: House prices fall seventh consecutive month
According to housing intelligence group, Hometrack, house prices in England and Wales fell for the seventh consecutive month in January. According to Hometrack, house prices fell by 0.5% on the month to £153,600. On an annual basis meanwhile, house prices were 2.2% lower in January. Hometrack believes that house prices will continue to fall, in light of the uncertainty regarding ...




December 22, 2010

Rics gives prediction for house prices in 2011

by Kay Mitchell
Rics gives prediction for house prices in 2011
The Royal Institution of Chartered Surveyors (Rics) has today indicated house prices could fall by around 2% in the next 12 months. However, the Institution highlights that the fall could be much more severe if the Government’s austerity measures hamper the economic recovery. Many reports have pointed to a cooling housing market with continuous falls in mortgage approvals. In addition, yesterday ...