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Mortgage Approvals in UK Hit 20-month High
Mortgage approvals hit 20-month high, yet experts are concerned over the prospects on the British housing market.Yesterday, on September 29th the Bank of England said that UK mortgage approvals rose once again last month.As such, almost 52,500 mortgages were given out in August, which is the highest reading in the past 20 months.In the opinion of... Read more
UK Mortgage Fees Rise by 17% in a Year
UK mortgage fees have skyrocketed by more than 15% in just one year, reveals a recent report by Moneyfacts.A recent report by Moneyfacts suggests that mortgage fees in the UK have increased by over 17% in a year.At the moment, an average mortgage fee borrowers have to pay stands at 1050 pounds, which is 150 pounds up from the same time last... Read more
UK Mortgage Approvals Hit 14-month High in July
UK mortgage approvals hit 14-month high in July, but financial experts are still skeptical about the prospects of UK mortgage market.The report published by the Bank of England suggests that UK banks and building societies have approved the highest number of mortgages in July since May 2010.As such, in July the number of approved mortgages reached... Read more
UK Mortgage Lending Improves in June – CML
The latest report published by the Council of Mortgage Lenders yesterday on June, 20th, suggests that gross mortgage lending increased in June.Last month, it totalled to 12.6 billion pounds, which represents a 16% increase on May total and an absolute high on average mortgage lending since June 2010.CML figures suggest that overall mortgage... Read more
New Mortgage Report Published by CML
The report published by the Council of Mortgage Lenders (CML) yesterday, on July 11th, 2011, suggests that mortgage activity picked up in May. As such, the number of loans issued by banks for house purchases and remortgages increased from 40,800 in April to 41,500 in May. It is interesting to note that most borrowers were applying for... Read more
UK Banks Concerned Over Mortgage Defaults
UK banks and building societies are concerned with the financial standing of the mortgage borrowers.Their fears come in spite of the fact that the latest report by the Bank of England revealed that the default rate on secured loans remained unchanged and the default rate on unsecured loans fell.However, it should be noted that the number of... Read more
Lloyds Banking Group Holds 60% of Risky Mortgage Loans
In its Financial Stability Report published on June 24th, 2011 The Bank of England highlighted that UK banks have given out too many risky mortgage loans. Risky loans stand for mortgages with high and very high loan-to-value ratio (LTV). A high LTV ratio is believed to be 70% to 90%, while very high LTV ratio is anything above 90%.The large... Read more
UK Mortgage Market Activity Resumed – Connells
The latest report by Connells, entitled "Survey and Valuation" suggests that UK mortgage market is reviving despite all the speculations.As such, the amount of mortgage valuations increased by 22%. Of these, many account for valuations made for first-time buyers; the figure increased by 26% since 2010. In fact, first-time buyers currently... Read more
UK Mortgage Approvals Fall in April – BoE
Data released by the Bank of England on Wednesday, June 2nd, suggests that mortgage approvals fell to 4-month low in April 2011. As such, the total number of approved mortgages stood at 45,166 in April, which compares to 47,145 in March.Experts are determined that although the decline can in part be attributed to holidays (Easter and the Royal... Read more
UK Mortgage Applications Up by 20% in March
A recent report by the Mortgage Advice Bureau and Coreco Group revealed that the number of mortgage applications was up by 11.6% and 20% in March 2011 compared to February 2011 and March 2010 respectively. The number of remortgage applications, on the contrary, fell by 1.9%.Interestingly enough, 80% of those who applied for new mortgages, were... Read more