|
||||||||||
|
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 [...] New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority (FSA).The regulator’s revised proposals still intend to bring in “common sense” standards that will stop home buyers borrowing more than they can afford. Lenders are being told they must assess the affordability of loans [...] 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 [...] 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 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 [...] 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
|
||||||||||
|
Copyright A Business Win website by Dr Search with online marketing at Search Clinic and SEO services by SEO Cheltenham Financial news by Wise Money |
||||||||||
Recent Comments