Mortgage lending increases in July
Total net lending to individuals rose by £0.3 billion in July according to the Bank of England. The twelve-month growth rate was unchanged at 0.8% while the three-month annualised growth rate fell to 0.5% in July, from 0.6% in June.
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Bank plans 25 percent depositsThe Bank of England is planning to introduce a cap on risky mortgages and for first time buyers to be responsible for raising 25% of the sale price as a deposit.
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Bank of England maintains Bank Rate at 0.5%The Bank of England’s Monetary Policy Committee today voted to maintain the official interest rate on hold at 0.5%.
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Welsh expect interest rates to rise this year
The majority of people in Wales believe that the Bank of England base rate will rise before 2010 is out.
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Mortgage lending increasesTotal net lending to individuals rose by £1.5 billion in May with the twelve-month growth rate increasing to 0.9% from 0.8% for April.
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Mortgage lending rises by 2 percent
UK mortgage lending grew during April when compared to March, according to the latest figures from the Bank of England.
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Tumbling mortgage rates are still no incentive
Mortgage rates are being cut, lending criteria is steadily being loosened and product availability is improving, however, it looks as if there is still little incentive for borrowers to commit to a new deal.
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House prices fell by 0.9% in August, the second consecutive month where a fall has occurred leaving the average house price at £166,507, Nationwide has said.
Lloyds TSB has introduced a new, market leading fixed rate mortgage at 2.94%, the product is available both for house purchase and remortgage for borrowers with a deposit of at least 30%.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
Confidence among landlords has dipped for the first time in almost two years, driven by uncertainties including housing benefits and tax changes announced in the emergency budget, according to the latest NLA Landlords’ Optimism Index.
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