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Mortgage lending decreased 2% in May

by Lee | Thu, 18/06/2009 - 12:01

According to the latest report published by the Council of Mortgage Lenders (CML), gross mortgage lending totaled an estimated £10.3bn in May which is 2% down from the £10.5bn in April and down 57% from May 2008.

As gross mortgage lending includes both lending for house purchase and remortgage, then even if house purchase activity is showing a slight lift it will not be fully reflected in overall gross lending when remortgaging is declining - as indicated in recent approvals data from the Bank of England. Remortgaging has fallen away in recent months in the face of attractive reversion rates and tighter lending criteria for the best deals.


More people opting for fixed rate mortgage deals

by Chris | Fri, 12/06/2009 - 19:03

The number of people taking on fixed rate mortgage products has increased as the cost of borrowing is so low, according to new research from the Council of Mortgage Lenders (CML).

The number of mortgages approved to buyers looking to buy a new home jumped in April to 35,600.


75,000 repossessions reported earlier this year, now looks pessimistic, says CML

by Chris | Fri, 15/05/2009 - 12:31

The number of people in the UK being evicted from their homes soared 50 per cent to 12,800 in the first quarter, but experts now believe repossessions will not reach the levels of the early 1990s.

This compares with 10,400 in the fourth quarter of last year, and 8,500 in the first quarter of 2008.


Bank of England: Lending conditions should ease in coming months

by Chris | Wed, 22/04/2009 - 22:17

The Bank of England is seeing lending conditions ease for homebuyers.

The Bank of England published its first 'Trends in Lending' report, a new monthly publication that presents the Bank’s assessment of lending to the UK economy and incorporates data from major lenders such as Barclays, HSBC and the Nationwide Building Society. The major lenders said mortgage acceptance rates were "little changed" in recent months.


Repossession on nearly 6 million home owners minds claims Which?

by Chris | Mon, 23/03/2009 - 20:45

Nearly 6 million home owners fear that their house could be repossessed, claims a new study carried out by Which?.

The findings from Which? showed that over 62 per cent of respondents are concerned that their partner will be made redundant and more than 43 per cent joint income households stated that they would not be able to pay their mortgage themselves if the main income earner lost their job.


Council of Mortgage Lenders (CML)

by Chris | Mon, 12/01/2009 - 22:35

Council of Mortgage Lenders (CML)

by Chris | Mon, 12/01/2009 - 22:32
Council of Mortgage Lenders (CML)

Repossessions set to soar in 2009 claims the Council of Mortgage Lenders (CML)

by Chris | Fri, 19/12/2008 - 12:18

Repossessions are set to soar in the coming months claims the Council of Mortgage Lenders (CML) as homeowners are unable to keep up with their mortgage repayments.

Repayment problems are set to continue as the rate of unemployment rises and the housing market continues to decline due to the economic crisis.

October to November saw lending decline by 22%. This is 51% down on last year, however these are genuinely quiet months but even so this is a much larger percentage than the norm