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The number of first time buyers has fallen to its lowest since records began in 1974.Around 187,000 people became first time buyers in 2011, which was 7pc fewer than the preceding year and less than half the recent peak of 402,800 seen in 2006. The figure from Halifax, the lowest recorded since it started tracking the [...] Mortgage lenders have raised concerns about potential changes to the way support is given to those struggling to pay their mortgage.The government is reviewing the Support for Mortgage Interest Scheme, where homeowners who lose their jobs may receive financial help. It says the programme, which costs £400 million a year, is unsustainable. The Support for Mortgage Interest [...] Mortgage lending in Scotland rose in the third quarter – but at a much lower rate than the UK as a whole, according to the latest data released by mortgage lenders.The Council of Mortgage Lenders (CML) Scotland said 12,400 loans were taken out, which was 900 more than in the previous quarter. That figure represented a [...] Economic uncertainty makes the future of the UK mortgage market “difficult to call”, a mortgage lenders’ group has said.Paul Smee, director general of the Council of Mortgage Lenders (CML), said the market for home loans was currently stable. The number of mortgages taken out for house purchases was 48,200 in September, down 2% from the month [...] Mortgage interest rates could start to rise again as a result of the turmoil in the eurozone brokers are warning.Some lenders, including Woolwich, Halifax and Santander, have pushed up their tracker rates for new borrowers. This increase follows a rise in the rate at which banks lend to each other – Libor – which has been [...] UK house prices rose by 1.2% in October compared with September, but have fallen over the last year according to the Halifax.The lender, part of nationalised Lloyds Banking Group, said that values had fallen by 1.8% compared with a year ago. It said that the housing market had remained “highly resilient” despite weakness and a deteriorating [...] 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 [...] Mortgage lending is still subdued according to the latest figures from the Council of Mortgage Lenders (CML).Total lending stood at £12.9 billion in September, which was 2% lower than in August but 4% up on September last year. But over the third quarter of the year total lending was 15% higher than in the second quarter, [...] House prices are “lacking genuine direction”, according to the Halifax, as it reported a 0.5% fall in values in September compared with August.Prices were down 2.3% from a year ago, leaving the average home in the UK worth £161,132, the lender said. It said there had been a mixed pattern of monthly changes in prices, but [...] House prices continued to “tread water” in September – rising by 0.1% compared with the previous month the mortgage lender Nationwide said.This left the average price of a home 0.3% lower than a year earlier, at £166,256, the building society said. Prices for the three months to September compared with the previous quarter were unchanged. Market turmoil [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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