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Help to Buy scheme ‘could be scaled back’
The Help to Buy scheme could be scaled back amid concerns Britain’s property market is in danger of overheating, it has been suggested. Chancellor George Osborne said the Bank of England was vigilant...
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What do new changes to the mortgage market rules in 2014 mean to you?
What do changes to the mortgage market mean to you? If you’ve never taken out a mortgage, or not applied for one in some time, you might be surprised to learn that the rules around lending have...
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Britain’s biggest lender introduces mortgage cap
The UK’s biggest lender announced it was tightening its affordability criteria, as figures showed mortgage advances soared by more than a third in April. Total advances reached £16.6bn during the...
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Highest levels of post recession lending on remortgaging for April 2014
Mortgage lending bounced back during April with the average value of new loans hitting a record high, research showed today. Advances to people remortgaging totalled £4.37bn during the month, 28 per...
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UPDDATED: Mortgage lending reaches five-and-a-half year high
Mortgage lending soared to its highest level for more than five-and-a-half years during April on the back of strong housing market activity, figures showed today. A total of £12.23bn was advanced...
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UPDATED: Slowdown in number of mortgages approved by banks
The number of mortgages approved for house purchase fell for the third consecutive month during April in a further sign that the property market may be slowing down. A total of 62,918 loans were...
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UPDATED: House prices return to pre-credit crisis level
House prices rose at their fastest rate for nearly seven years during May pushing values back above their pre-correction peak, figures showed today. The average cost of a home jumped by 0.7 per cent...
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Help to Buy is ‘not stoking’ house price inflation, research suggests
The Government’s controversial Help to Buy scheme is not stoking house price inflation, research indicated today. Less than 4 per cent of people buying their first home in the six months to the end of...
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Mortgage lending falls amid tighter loan rules
Mortgage lending fell to its lowest level for a year during May in a further sign that the housing market may be cooling, research has shown. A total of 61,202 loans were approved for house purchase...
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Mortgage lending risks being ‘snuffed out’ by house price concerns
Lending to homeowners risks being ‘snuffed out’ by concern about house prices rises, predominantly in London, it was suggested today. Borrowers with good credit histories could find themselves unable...
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More mortgage applications to be ‘rejected’ as banks tighten lending criteria
The number of mortgage applications that are rejected looks set to increase as banks tighten their lending criteria, a report suggested today. Banks and building societies predict there will be a...
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Mortgages ‘restricted’ to 4.5 times annual salary
The number of homebuyers able to borrow more than 4.5 times their income will be restricted, the Bank of England announced today. By October, banks will only be able to lend 15 per cent of their total...
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Cheapest mortgage rates are on the rise
The cheapest fixed rate mortgages have ‘shot upwards’ following three months of historically low rates, new research reveals. Latest figures suggest the rates on the cheapest two year fixed deals are...
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Homebuyers with small deposits still get loans
Lending to people with small deposits hit a post-credit crisis high in June but remained only a quarter of the level seen before the financial crisis struck, figures have revealed. Around 10,898...
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Homebuyers face ‘more conservative lending environment’
Mortgage lending rose by 17 per cent during June, but the pace at which it is increasing showed signs of slowing, figures revealed today. A total of £17.5bn was advanced during the month, 4 per cent...
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Home owner confidence high despite it being ‘more difficult’ to get a mortgage
Nine out of 10 home owners expect house prices to rise in the next six months despite almost half saying getting a mortgage is more difficult than three months ago, Zoopla reveals. As many as 92 per...
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Mortgage approvals jump to four-month high despite tough new lending rules
Mortgage approvals for people buying a home jumped to a four-month high in June as the market recovered from the introduction of new lending rules that saw an increase in the time it takes to secure a...
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Households will ‘cope well’ with gentle interest rate rises, says lending body
Mortgage lending looks set to rise above £200bn this year but the housing market will slow down in 2015, a lending body predicted today. Home loan advances look set to total £208bn in 2014, the highest...
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Mortgage rates continue to rise
The cost of fixed rate mortgages are continuing to rise as both lenders and borrowers brace themselves for interest rate hikes. The average cost of a two-year fixed rate deal now stands at 3.71 per...
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Can I still get a mortgage five times my salary?
Borrowers must have a 15 per cent deposit, be earning a good salary and have no outstanding debts if they want to secure a mortgage five times their salary, it has been revealed. Mortgage brokers...
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