A prediction with regards to mortgage activity in the UK has been made by the Council of Mortgage Lenders recently, with officials from the agency predicting that 2010 will see the level of mortgage activity in the UK increase. (more…)
Posts Tagged ‘council of mortgage lenders’
Mortgage activity will increase this year
Monday, March 15th, 2010
13 percent drop in UK repossessions
Saturday, March 6th, 2010Recently released figures have shown that in the final three months of last the number of properties in the UK falling into repossession fell significantly, as did the levels of mortgage arrears in the UK. (more…)
Lenders offer 125 percent mortgages to existing customers
Wednesday, December 16th, 2009Over recent weeks a number of lenders have decided to bring back 125 percent mortgages, but these will only be made available to existing borrowers who have very good credit and need to move home. (more…)
Ban on self cert mortgages will not cut off everyone with an irregular income
Friday, December 11th, 2009Since the UK’s financial regulator the Financial Services Authority announced plans to ban self certification mortgages in their current form there has been a lot of controversy.
Rise in the number of landlords obtaining buy to let mortgages
Monday, December 7th, 2009Figures that have recently been released by a mortgage group have suggested that a rising number of landlords are adding to their property portfolios by obtaining buy to let mortgages. (more…)
FSA accused of treating lenders like drug dealers
Tuesday, December 1st, 2009The UK’s financial regulator, the Financial Services Authority, has been accused by the banking industry of treating both banks and building societies like ‘drug dealers at the school gates’. (more…)
FSA voices concerns over recklessness of some lenders
Monday, November 30th, 2009The UK’s financial regulator, the Financial Services Authority, has commented on the extent of the recklessness of some of the UK’s lenders. (more…)
Thousands of mortgages a month being turned down by banks
Thursday, July 9th, 2009Recently released figures have shown that every month thousand of mortgage applications in the UK are being turned down by lenders. (more…)
Bank of England confirms negative equity figures
Thursday, July 2nd, 2009The Bank of England has recently confirmed figures relating to the levels of negative equity amongst homeowners in the UK following around twenty months of house price falls. (more…)
Regulator continues to crack down on mortgage fraud
Tuesday, June 23rd, 2009Since the onset of the global credit crunch in 2007 mortgage related fraud has become increasingly prevalent in the UK, as well as in other countries such as the United States. (more…)
Home sales restricted by negative equity
Thursday, June 4th, 2009Lenders have recently stated that the number of property transactions and home moves is set to be seriously hampered by the fact that so many people are now in or facing negative equity as a result of plunging property valued. (more…)
House price decline slowest in a year in March
Tuesday, May 12th, 2009According to industry official the decline of house prices across England and Wales continued in March, but was at its slowest level in the space of a year. In addition to this there was also an increase in sales levels, which picked up from record lows. (more…)
CML releases official negative equity figures
Monday, May 11th, 2009A couple of weeks ago the Council of Mortgage Lender released worrying figures with regards to negative equity levels amongst homeowners in the UK, claiming that 900,000 homeowners had been plunged into negative equity as a result of falling house prices. (more…)
Increase of two thirds in home repossessions
Friday, April 10th, 2009Figures from the Financial Services Authority have shown that over the course of 2008 the level of home repossessions increased by around two thirds, as an increasing number of homeowners struggled to keep up with their mortgage repayments in the difficult financial climate. (more…)
Loan and mortgage fees could increase due to reforms
Monday, April 6th, 2009Industry experts have predicted that the fees and charges associated with loans and mortgages from banks could soar in the future as a result of sweeping reforms planned by the government to stop a future financial crisis similar to the one that the nation has been plunged into now. (more…)
Increased availability of home loans unlikely in the near future
Monday, March 23rd, 2009A recent report has indicated that it is unlikely that there will be any significant increase in the availability of home loans in the near future. (more…)
CML wants lower cap on mortgage interest rate reduction
Friday, March 6th, 2009The Council of Mortgage Lenders has asked for a lower cap to be introduced, which would mean that mortgage lenders would not be expected to reduce their mortgage interest rates beyond a certain level. (more…)
92% increase in home repossessions in one year
Sunday, February 8th, 2009During the third quarter of last year the number of people that were losing their homes nearly doubled, according to recent reports. (more…)
House price forecasts put on hold by lenders
Saturday, January 17th, 2009Two major UK lenders have decided that they are going to postpone making any house price forecasts for next year in the current climate, even though they have been forecasting house price movement for years. Usually the Halifax and the Nationwide tend to forecast prices for the coming year, but this has all changed following a particularly turbulent year for the housing sector where there are now mixed opinions on what will happen with house prices over the coming year. (more…)
CML warns on rationing of mortgages
Sunday, January 4th, 2009Officials from the Council of Mortgage Lenders have recently stated that the situation with mortgage lending levels may get worse, stating that whilst mortgage lending has certainly been rationed over the course of this year as a result of the global credit crunch and tighter lending conditions the likelihood was that it would be further restricted over the coming year. (more…)
Parents providing help to many first time buyers
Friday, December 19th, 2008For many years first time buyers have struggled to get onto the property ladder for one reason or another. For a number of years the problem has been the soaring price of property in the UK, but more recently, even thought house prices have been falling, other problems have emerged for first time buyers. This includes far tighter credit conditions, making it difficult for some first time buyers to get finance, and higher deposit requirements from lenders, which decreases affordability for the average first time buyer. (more…)
CML stands up for mortgage lenders
Tuesday, December 16th, 2008The Council of Mortgage Lenders has recently spoken out to defend its member banks, after some banks were criticised for failing to pass on base rate cuts and were accused of making a profit. The CML insists that its member banks are actually profiteering, and recently released a statement to this effect. (more…)
Are you facing repossession?
Monday, December 15th, 2008If you are in danger of facing repossession at the moment then you are not alone, as there has been a sharp increase in the level of repossessions of late, with more and more homeowners losing their homes. In fact, figures have recently been released that show the level of repossessions for the third quarter of the year up to end of September increased by around 12 percent, to around 11,300. The figures have been released by the Council of Mortgage Lenders. (more…)
Lenders say they will pass on base rate cut
Tuesday, December 2nd, 2008Following the recent 1.5% base rate cut, and in response to calls from the Prime Minister, Gordon Brown, a number o major lenders in the UK have said that they will be passing on the full 1.5% rate cut to borrowers over the coming weeks. As hoped by the government this could help to ease the financial situation for many consumers, and could ultimately help to boost the flagging economy, as consumers find themselves with more money to spend in the run up to Christmas. (more…)
Bad news on home loan numbers from CML
Thursday, October 30th, 2008In a recent report released earlier this month officials from the Council of Mortgage Lenders claimed that the number of value of homes loans had fallen to the lowest level of record, with the number of home loans dished out in the month of August standing at just 42,000, which reflects a drop of 59% compared to one year earlier just before the global credit crunch gripped the financial markets in the UK and around the world. (more…)
Help needed for homebuyers states OFT
Friday, October 17th, 2008Officials from the Office of Fair Trading have stated that more help is needed for homebuyers in the UK from house builders. Following an investigation by the OFT, house builders are to set up a new code of conduct to address issues relating to dissatisfied customers. The investigation showed that many home buyers had experienced problems with the property or delays in terms of moving into the property, although it did describe the sector as still being ‘broadly competitive’. (more…)
Credit crunch means slump in mortgage lending
Thursday, May 22nd, 2008The UK’s financial markets are in something of a mess as a result of the global credit crunch, which made its way across the nation last summer. All areas of finance have been affected, such as loans, credit cards, and mortgages. Consumer confidence has taken a dive, the economy has been adversely affected, and lending conditions have become tighter than ever, as lender struggle to raise funds to finance their lending operations. (more…)