Posts Tagged 'Mortgage Lending'

Mortgage Lending Drops in August

Total mortgage lending fell for the second month in a row in August, with analysts claiming that another fall in house prices could be around the corner.

The Council of Mortgage Lenders (CML) said that the number of homes sold in the UK also fell last month, by 5,000 to 85,000, whilst property groups have claimed that typical asking prices have fallen by an average of around £8,000 as a large number of returning sellers are met with a small number of potential buyers.

“We face the prospect of a difficult second half of the year,” said the CML’s chief economist Bob Pannell.

“However, the Bank of England is likely to keep interest rates at record lows for longer to support the economy.

Full article…

Sep 22, 2010 No Comments by Alice Galvin
Tags: August Mortgage Lending

Mortgage lending falls 10% in November

According to figures from the Council of Mortgage Lenders (CML), gross mortgage lending in November totalled 12bn – 10% lower than the 13.3bn seen in October and 14% lower than the 13.9bn recorded in November 2008. The CML states that `a modest seasonal decline between October and November is typical`, but a drop of 10% is a little bigger than normal. Economist at the CML, Paul Samter, said: “There is little reason to expect much underlying change in the coming months. There could be a modest decline in underlying house-buying activity in early 2010 due to the stamp duty holiday ending, with activity `bunching` over the last few months of 2009. But seasonal factors are likely to be the dominant driver over the next few months.” A spokesperson for Debt Advisers Direct added: “Although the amount of mortgage debt taken on in November was slightly lower than October`s figure, this seems to be more or less in line with seasonal trends. Full article…

Dec 27, 2009 No Comments by Admin
Tags: Mortgage Lending November