Lloyds first bank to use cheap funds from state programme September 19, 2012 LLOYDS became the first bank to use the government’s new Funding for Lending scheme (FLS) yesterday, drawing down £1bn from the Bank of England. It pledged to lend the money on to businesses and households. However analysts said they do not expect Lloyds’ overall lending to rise, as the bank is still rebalancing in the [...]
Lenders hit by loan maturity September 19, 2012 MILLIONS of interest-only mortgage holders are set to be clobbered as their loans expire over the next eight years, property data firm Xit2 revealed today. Some 1.3m interest-only mortgages will expire by 2020, the data shows, and for over 1m of these – together worth about £116bn – there is no final payment plan, Xit2 [...]
Mortgage lending booms in July as market strengthens September 12, 2012 A JUMP in loans to home movers outweighed a slip in lending to first-time buyers, data from the Council of Mortgage Lenders revealed yesterday, leading to an overall increase in mortgage market lending. There were 30,500 loans made to homeowners moving house in July, up 8.2 per cent from June, together totalling £5.1bn, again up [...]
Your first move onto the property ladder September 9, 2012 UK HOUSE prices saw their biggest fall for a year in the three months to July 2012, according to the Royal Institution of Chartered Surveyors (Rics). But the capital is bucking the trend. London property prices grew by 6.5 per cent over the last year, according to last quarter’s Greater London Authority London Housing Market [...]
More homes would make climbing the second step easier September 9, 2012 GETTING a foot on the property ladder is hard. But, taking the second step could be even harder. Agonising market conditions mean that it could now be the most challenging time to be a “second stepper” in years. Research shows that a first-time buyer stays in their first property for around four years. Since the [...]
Hollande is forced to nationalise mortgage lender on default fear September 2, 2012 FRENCH president Francois Hollande was forced to nationalise France’s second biggest specialist mortgage lender on Saturday night after a cash drought left it unable to pay its debts, meaning the government could be on the hook for up to €20bn in guarantees. Credit Immobilier de France (CIF), which has around four per cent of the [...]
House prices show biggest monthly rise since 2010 August 31, 2012 British house prices showed their strongest monthly rise in more than two-and-a-half years this month, mortgage lender Nationwide said today, in contrast to a generally weak picture for the country’s property market and broader economy. Nationwide said house prices rose by 1.3 per cent in August after falling a downwardly revised 0.8 per cent in [...]
Moody’s chops 3CIF’s rating on bailout fear August 28, 2012 MORTGAGE lender Caisse Centrale du Credit Immobilier de France (3CIF) yesterday saw its long-term debt rating slashed from A1 to Baa1 by ratings agency Moody’s, as it continues to seek a buyer. The troubled institution cannot access capital markets, and in July announced plans to sell itself. But its long-term future is far from assured [...]
Fewer deals on offer for first time buyers August 22, 2012 THE MORTGAGE market has tightened up over the past six months, but remortgage lending has bounced back, according to reports. The number of high loan-to-value (LTV) mortgages has plummeted, with a collapse in 90 per cent and 95 per cent mortgages offered, MoneySupermarket said yesterday. Its data shows that 95 per cent mortgage availability has [...]
Mortgage lending jumps ahead of Funding for Lending Scheme August 20, 2012 MORTGAGE lending jumped sharply in July, according to industry data published yesterday, with the government’s new Funding for Lending Scheme expected to boost loans further through August. Gross lending rose eight per cent to £12.7bn in the month, reversing the fall to £11.7bn in June, the Council of Mortgage Lenders revealed. However, analysts warn the [...]