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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 [...] 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 [...] First time buyers will no longer receive an exemption from stamp duty from March 2012 as the government says the relief is “ineffective”.Documents with Chancellor George Osborne’s Autumn Statement reveal the view that the tax relief failed to get more people on the property ladder. The temporary exemption meant first time buyers were free from the [...] First time buyers are “rarely seen”, estate agents warn with their share of the UK housing market having fallen to a three year low.Sales to those buying their first home fell from a 22% share of the market in September to a 16% share in October, figures suggest. The National Association of Estate Agents (NAEA) said [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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