You are here: Home » Blog » Archives for June 2011
Mortgage lending for house purchase grew in April, according to an industry body.
Figures from the Council of Mortgage Lenders (CML) show that there were 40,900 loans worth £5.9 billion in the month, as against 37,500 worth £5.5 billion in March. But the total was still down on that seen 12 months previously.
A member of a crucial Bank of England committee has called for an immediate rise in interest rates to curb inflation.
Martin Weale of the Bank’s nine-strong Monetary Policy Committee (MPC) also warned homeowners and businesses to prepare for significant rises in the cost of borrowing over the next two years.
Small businesses often make the best employers. That’s the impression which emerges from recent research by Microsoft.
An extensive survey shows that the bigger the company, the less likely it is to offer flexible working conditions to its employees. It seems that smaller firms are keen to develop new working methods, often involving new technology. And they are also prepared to be more flexible about working hours.
The Bank of England has kept interest rates on hold at 0.5% for the twenty-seventh time in succession – to the undoubted relief of millions of homeowners.
This month’s decision by the Bank’s Monetary Policy Committee (MPC) had been widely trailed, after a series of indicators suggested the recovery might by stalling. This week the International Monetary Fund (IMF) became that latest body to downgrade the UK’s growth forecast – to 1.5% – with the squeeze from cuts and tax rises expected to impact already weak consumer demand.
House prices edged up a whisker in May, according to the latest Halifax index.
At what is traditionally a busy time of the year for the housing market, prices rose by just 0.1% on average, to leave the price of a typical property at £160,519.
The buy-to-let sector is becoming a more attractive option for investors as demand for rented property increases.
That’s the suggestion to emerge from a survey of landlords by LSL Property Services. According to the figures, 49% reckon now is a good time to invest in property for rental, while almost 9 out of 10 intend to maintain or add to their portfolios over the next twelve months.
Mortgage approvals tailed off this spring – but forecasts and figures from lenders give a more upbeat picture looking ahead.
Latest statistics from the Bank of England show that the number of loans approved for house purchase fell in April by a thousand or so, to 45,166. Nevertheless, the total amount of mortgage lending secured against dwellings remained in line with the average for the previous six months, at £11.2 billion.
It’s being suggested that as many as 300,000 hard-pressed homeowners may have converted their mortgages to interest-only in recent years.
FSA data shows that the total number of interest-only borrowers went up by almost 370,000 in the three years after the financial crisis hit in late 2007. According to an analysis by The Daily Telegraph, most are people who have switched – because of financial difficulties and the need to minimize repayments to avoid a default.
RSS Feed
Atom Feed
The comments expressed in this section are those of the authors and should not be relied upon.
GoRemortgage.co.uk is a trading style of Green Money Limited which is authorised and regulated by the Financial Services Authority for regulated mortgages and non-investment insurance contracts. FSA Number 482743. Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. The overall cost for comparison is estimated to be 5.01% APR. Subject to circumstance, a completion fee may be payable, typically 2%.
aerodesigns