Tag: deposit

CML: Mortgage lending higher in August

CML: Mortgage lending higher in August

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 [...]

September 20, 2011 | 0 Comments More
BoE: Mortgage approvals hit 14-month high in July

BoE: Mortgage approvals hit 14-month high in July

The Bank of England has today revealed mortgage approvals picked up significantly in July to a 14-month high. According to the central Bank, there were 49,239 loans approved in the month – higher than the upwardly revised 48,500 for June and a significant improvement on April’s 45,855 which represented a four-month low. The figure was [...]

August 30, 2011 | 0 Comments More
Survey reveals mortgage availability set to improve

Survey reveals mortgage availability set to improve

There is some good news for the housing market after a Bank of England survey revealed mortgage availability is set to improve in the coming months. The survey comes as mortgage lending continues to remain subdued as first-time buyers, in particular, struggle to obtain a mortgage unless they have a substantial deposit. Since the credit [...]

April 2, 2011 | 0 Comments More
Northern Rock to launch 90% LTV mortgage range

Northern Rock to launch 90% LTV mortgage range

Crisis-torn lender, Northern Rock, is understood to be launching a series of mortgage products which require just a 10% deposit (90% loan-to-value). The announcement, revealed by the Financial Times, comes as mortgage lending continues to remain subdued as first-time buyers, in particular, struggle to obtain a mortgage unless they have a substantial deposit. Since the [...]

February 28, 2011 | 0 Comments More
First-time buyers still require hefty deposit

First-time buyers still require hefty deposit

Research from the Halifax has revealed first-time buyers are still struggling to get onto the property ladder unless they have a hefty deposit. The mortgage lender said a first-time buyer has to find at least £29,000 in order to secure a mortgage, while those in London require almost double that (£50,000). Since the credit crunch [...]

December 29, 2010 | 0 Comments More
Mortgage products increase but FTBs still struggling

Mortgage products increase but FTBs still struggling

First-time buyers (FTBs) are still struggling to get a foot on the ladder, despite a steep rise in the number of mortgage products available. Mortgage deals for those with a small deposit has doubled, according to Moneyfacts.co.uk, with more than 1,000 mortgages on the market for those with a 20% deposit or less. However, while [...]

December 2, 2010 | 0 Comments More
First time buyers encouraged by house price falls

First time buyers encouraged by house price falls

Property website Rightmove has suggested that first-time buyers (FTBs) are returning to the housing market. According to a report by the property website, which questioned 25,584 potential buyers last month, FTBs are encouraged by house price falls. It found that around 33% of FTBs expect the cost of property to be lower this time next [...]

November 8, 2010 | 1 Comment More
Mortgage lending improves in June but CML cautious

Mortgage lending improves in June but CML cautious

Despite the doom and gloom surrounding the housing market currently, there is some positive news from the Council of Mortgage Lenders (CML). According to the CML, 52,000 new loans were granted to home buyers in June - 19% higher than in May and up 14% on June 2009. CML economist Paul Samter points out that [...]

August 11, 2010 | 0 Comments More
Mortgage lenders hold out on large deposits

Mortgage lenders hold out on large deposits

Despite a rise in the number of mortgage deals on offer, a large deposit remains essential in securing a competitive loan, both for house purchasers and remortgagers. According to research by Moneyfacts Group for the BBC, the number of mortgage products available has risen 66% so far this year, to 2,351. However, the financial researcher [...]

August 3, 2010 | 0 Comments More
Confidence in UK housing market slips

Confidence in UK housing market slips

Less than half of those contributing to the Building Societies Association’s (BSA) June Property Tracker survey think that now is a good time to buy a home. The confidence level slipped to 45%, down from 49% in March, possibly reflecting concerns about the state of the economy and the various austerity warnings issued by the [...]

June 16, 2010 | 0 Comments More
FTB affordability eases despite house price rises

FTB affordability eases despite house price rises

In its May affordability index, FindaProperty.com has reported that first-time buyer house prices have increased for the fourth consecutive month, taking the average asking price of a starter home to £155,677. The figure is 1.2% higher than a year ago and at its highest since February 2009. At the same time, affordability has improved for [...]

May 20, 2010 | 0 Comments More
Post Office courts first-time buyers with 90% LTV interest only deal

Post Office courts first-time buyers with 90% LTV interest only deal

The Post Office has launched new mortgage deals with first-time buyers in mind. The lender is not only happy with a minimum deposit of 10% but is also allowing borrowers to choose between an interest only and capital plus interest repayment option. For a two-year fix the rate is 5.45%, for a five-year 5.99%, and [...]

May 12, 2010 | 0 Comments More
Young Britons prepare for 10-year wait on home ownership

Young Britons prepare for 10-year wait on home ownership

Buying a home has become a pipe dream for millions of young Britons, the National Housing Federation (NHF) claims. Research by the body, which represents England’s housing associations, suggests that 50% of those wanting to get a foot on the property ladder are preparing for at least a 10-year wait. The YouGov survey commissioned by [...]

March 22, 2010 | 0 Comments More
Friendlier lending eases the way for first-time buyers

Friendlier lending eases the way for first-time buyers

Affordability for first-time buyers has continued to improve, according to FindaProperty.com. The website’s latest index suggests it is now easier for first-time buyers to get onto the property ladder than it has been at any time since the start of the credit crisis, in 2007. Stable prices and more borrower-friendly lending criteria are responsible for [...]

March 16, 2010 | 0 Comments More
Homeowners to be replaced by tenants

Homeowners to be replaced by tenants

Reporting on its recent “Future Housing” conference the Council of Mortgage Lenders (CML) says it expects the UK to see a smaller proportion of homeowners and a higher proportion of tenants, mostly in the private sector, in the years ahead. Changing consumer preferences and affordability pressures will drive the trend. Examining the plight of first-time [...]

March 4, 2010 | 0 Comments More
First-time buyer affordability best in 25 years

First-time buyer affordability best in 25 years

Potential first-time buyers on average earnings can now afford to buy a home in nearly four out of 10 regions of the UK, the Halifax has reported. According to the lender’s research, 39% of the UK’s local authority districts are accessible to those wanting to buy their first property, compared to 6% when the housing [...]

January 3, 2010 | 0 Comments More
Better deals for high loan to value borrowers

Better deals for high loan to value borrowers

First-time buyers are finding it easier to get a foot on the property ladder, according to independent mortgage adviser, Mortgageforce.co.uk. Better deals for high loan to value (LTV) borrowers meant that in November, 14% of all transactions arranged by the online broker were for those buying their first home, compared to the usual 10%. The [...]

December 4, 2009 | 0 Comments More
Lenders return to 90% LTV market

Lenders return to 90% LTV market

New research from Moneyfacts shows that the UK’s mortgage lenders are becoming less scared of offering high loan-to-value (LTV) ratios. According to the price comparison website, the number of mortgages available to borrowers with a 10% deposit rose from 56 in August, to 114 in November. However, availability remains severely contracted when compared to the [...]

December 1, 2009 | 0 Comments More
Abbey advises first-time buyers to take the plunge now

Abbey advises first-time buyers to take the plunge now

Abbey Mortgages is advising potential first-time buyers who are currently renting to take their first step onto the property ladder. The bank’s research shows that first-time buyers could collectively save up to a massive £1 billion if they acted now and bought their own home. According to Abbey, 1.61 million Britons said they were looking [...]

October 12, 2009 | 0 Comments More
Mortgage market stages gradual recovery

Mortgage market stages gradual recovery

The UK mortgage market is showing signs of recovery with the number of products increasing slowly. However, only borrowers with a minimum deposit of 25% are likely to feel any real benefit, according to Moneyfacts.co.uk. Research from the financial website shows that since the beginning of April, the number of deals on the market has [...]

September 17, 2009 | 0 Comments More