11/10/2013
House Purchase Lending Increases
Total home-owner house purchase lending continues to grow, up 7% on July and 15% on August last year, according to the Council of Mortgage Lenders (CML).
First-time buyers took out 27,100 loans in August, an increase of 7% on July and of 33% compared to August 2012.
Despite a slight decline in total gross lending in August, lending for home-owner house purchase continued to show growth. In total, 61,300 house purchase loans were advanced in August, up 7% on July and 15% compared to August 2012. This amounted to £9.7bn in total, a 7% increase on July and an increase of 20% by value compared to August last year.
Paul Smee, director general of the CML, commented: "The healthy growth in all lending areas compared to the same time last year is indicative of more confidence in the market. The high number of borrowers, in particular first-time buyers, opting for fixed rates reflects the attractive pricing currently on products which can provide helpful stability to borrowers for the next few years."
(CD/IT)
First-time buyers took out 27,100 loans in August, an increase of 7% on July and of 33% compared to August 2012.
Despite a slight decline in total gross lending in August, lending for home-owner house purchase continued to show growth. In total, 61,300 house purchase loans were advanced in August, up 7% on July and 15% compared to August 2012. This amounted to £9.7bn in total, a 7% increase on July and an increase of 20% by value compared to August last year.
Paul Smee, director general of the CML, commented: "The healthy growth in all lending areas compared to the same time last year is indicative of more confidence in the market. The high number of borrowers, in particular first-time buyers, opting for fixed rates reflects the attractive pricing currently on products which can provide helpful stability to borrowers for the next few years."
(CD/IT)
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UK house price rise continues to level off
According to the latest survey on house prices, growth in the sector has slowed to its lowest level in almost a decade. The report from the Nationwide Building Society has revealed that house prices have risen by just 5.5% in the year ending May, the lowest year-on-year increase since August 1996.
UK house price rise continues to level off
According to the latest survey on house prices, growth in the sector has slowed to its lowest level in almost a decade. The report from the Nationwide Building Society has revealed that house prices have risen by just 5.5% in the year ending May, the lowest year-on-year increase since August 1996.
12 October 2009
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
18 September 2003
Lending to home-buyers breaks monthly record
According to the latest survey from the Council of Mortgage Lenders (CML), borrowing for house purchase topped £11.5 billion in August – the highest figure since CML monthly records began. This figure now accounts for 48% of total lending and compares with £11 billion (45%) in July, and £10.8 billion (52%) in August last year.
Lending to home-buyers breaks monthly record
According to the latest survey from the Council of Mortgage Lenders (CML), borrowing for house purchase topped £11.5 billion in August – the highest figure since CML monthly records began. This figure now accounts for 48% of total lending and compares with £11 billion (45%) in July, and £10.8 billion (52%) in August last year.
13 February 2009
OFT Consults On Second Charge Lending Guidance
The Office of Fair trading (OFT) today launched a consultation on draft guidance for businesses engaged in second charge lending. Second charge loans, or 'homeowner loans', involve consumers with an existing mortgage taking out further personal borrowing secured against their home.
OFT Consults On Second Charge Lending Guidance
The Office of Fair trading (OFT) today launched a consultation on draft guidance for businesses engaged in second charge lending. Second charge loans, or 'homeowner loans', involve consumers with an existing mortgage taking out further personal borrowing secured against their home.
13 January 2005
Interest rates held at 4.75%
Interest rates have as expected remained on hold as the Bank of England's Monetary Policy Committee (MPC) announced its latest decision. Though the MPC has not increased interest rates since August last year, the interest rate has risen five times from a low of 3.5% in November 2003 to stand at 4.75% since August 2004.
Interest rates held at 4.75%
Interest rates have as expected remained on hold as the Bank of England's Monetary Policy Committee (MPC) announced its latest decision. Though the MPC has not increased interest rates since August last year, the interest rate has risen five times from a low of 3.5% in November 2003 to stand at 4.75% since August 2004.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.