Mortgage loans up as recovery stays on track February 20, 2012 UK MORTGAGE lending rose in January, compared with the same month of 2011 – the sixth consecutive month of year-on-year growth, according to data out yesterday from the Council for Mortgage Lenders (CML). The CML figures showed lending was up 10 per cent, and the Mortgage Advice Bureau (MAB) corroborated the jump this morning, publishing [...]
Mortgage lending up by 10% February 20, 2012 Gross mortgage lending hit £10.5bn in January, up 10 per cent compared to the same month last year, according to figures from the Council of Mortgage Lenders (CML). Lending fell by 14 per cent from £12.2bn from December but was still substantially up on figures from January 2011. CML chief economist Bob Pannell said he [...]
Barclays unveils cash-free payment app in bid to poach bank customers February 15, 2012 BARCLAYS has launched a mobile app that could see the bank poach thousands of customers from rivals by giving them the ability to pay without cash. The app, called Pingit, is aimed at boosting Barclays’ brand by linking the lender to a convenient service. It lets users link their mobile number to their bank account [...]
FIRST TIME BUYERS HURRY TO BEAT STAMP DUTY DEADLINE February 13, 2012 THE HOUSING market saw a jump in activity in December and January as first-time buyers snapped up houses before the stamp duty exemption runs out next month, data from the Council of Mortgage Lenders (CML) showed yesterday, and Royal Institute of Chartered Surveyors (RICS) today. Loans to first-time buyers were up 14 per cent on [...]
First time buyers rise ahead of stamp duty increase February 13, 2012 The number of first-time buyers purchasing property increased by seven per cent at the end of 2011, fuelled by the impending increase in stamp duty. There were 18,700 mortgages – worth a total of £2.3bn – issued to new purchasers in December, an increase of seven per cent by volume and ten per cent by value [...]
More first time buyer mortgages February 12, 2012 The number of mortgages offering 95 per cent loan-to-value (LTV) deals to first time buyers has hit its highest level since before the financial crisis, the Mortgage Advice Bureau claims this morning. The broker says there are currently 59 such deals open to people looking to make their first step onto the property ladder, offered [...]
Repossessions forecast to rise February 9, 2012 HOUSE PRICES are set to fall in 2012 as unemployment rises and household income stays depressed, according to yesterday’s forecasts from the Council of Mortgage Lenders (CML) and today’s LSL house price index and e.surv mortgage monitor. The weak economic outlook is also set to push up repossessions as more borrowers fail to keep up [...]
PROPERTY NEWS February 9, 2012 REPOSSESSIONS TO RISE British mortgage repossessions hit their lowest since 2007 last year but are expected to rise in 2012 due to increasing unemployment, the Council of Mortgage Lenders (CML) said yesterday. The CML said the number of home repossessions came in at 8,500 between October and December, down from 9,300 in the previous three-month [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 8, 2012 FINANCIAL TIMES BROKERS SUSPENDED IN LIBOR INQUIRY More than a dozen traders and brokers in London and Asia have been fired, suspended or put on leave by their employers as a multinational probe into alleged manipulation of crucial global lending rates accelerates. Regulators have been investigating US and European banks that help set interbank lending [...]
FTSE dips as Greece D-Day arrives February 6, 2012 The FTSE 100 slipped as the deadline for Greece to accept a new bailout or face a default which could trigger financial shockwaves across the globe arrived. Greece must tell the European Union by the end of today whether it accepts the stringent terms of a new bailout deal amid reports of divisions within the [...]