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There is no sign of the UK property market picking up in the coming months, the Royal Institution of Chartered Surveyors (Rics) has said.Its latest monthly survey says some sellers are still asking too much for their properties, while some potential buyers cannot raise a mortgage. As a result, surveyors expect the level of sales to [...] Home buyers will find it even harder to obtain a mortgage in the coming months the Bank of England warns.Its quarterly survey of lending activity shows that lenders are going to be even fussier about prospective customers. “Lenders expected a tightening of credit scoring criteria for granting new secured loans to households,” the Bank said. It said [...] Mortgage lending to home buyers is likely to keep on stagnating in the coming months figures from the Bank of England show.In November 2011, just 52,854 mortgage loans were agreed in principle for home buyers. Although this was 12% higher than in November 2010, the figures have barely changed for the past four months. Mortgage approvals are [...] The number of new mortgages approved for home buyers, but not yet lent, fell in September for the first time in five months.The Bank of England said approvals for home buyers were 50,967 in September, down 1,380 or 3% from August. The figures suggest that this year’s modest revival in sales has ended and that mortgage [...] The Bank of England’s Monetary Policy Committee (MPC) was unanimous in voting for another £75 billion of quantitative easing (QE) to support the weak UK economy.Minutes from the MPC’s meeting earlier show members considered injecting between £50 billion and £100 billion. The committee cited a sharp deterioration in the international outlook as a key factor. The vote [...] House prices in England and Wales continue to stagnate, according to the latest figures from the Land Registry.Average prices fell by 0.3% in August to £162,347, leaving them 2.6% lower than a year ago. It was the third fall in the past four months and means the annual rate of house price decline has changed little [...] The number of mortgages lent in July was still much lower than a year ago, figures from the Council of Mortgage Lenders show.The number of new loans to house buyers was 48,400 in July, up 1,000 from June but still 6,900 lower than a year ago. The number of first-time buyers, at 18,200, fell back by [...] UK interest rates have been kept at a record low of 0.5% by the Bank of England’s Monetary Policy Committee (MPC).Economists had expected interest rates would remain unchanged due to the subdued economy. GDP figures for the second quarter showed growth of 0.2% with a majority of economists expecting mortgage interest rates to remain unchanged [...] Homeowners continued to inject equity into their homes at the start of 2011 – but not to the same degree as much of the previous year, figures show.Mortgage borrowers increased their financial stake in properties by £5.8 billion in the first three months of the year. This was lower than the record-breaking £7.1 billion in the [...] Mortgage approvals are still subdued new figures from the Bank of England suggest.Which means that the UK property market is set to remain subdued in the forthcoming months. New mortgages approved for house purchase, but not yet lent, rose to 45,940 in May from 45,447 in April. Despite the slight increase, May’s approval figure was lower than [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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