Mortgage Approvals at 11 Month Low
Mortgage approvals were at their lowest level for 11 months in May, according to the Bank of England, thanks to stricter lending rules and rising prices. The number of mortgages given the go-ahead was 61,707 in May, down from 62,806 in April – the lowest figure since June last year. The impact of the Mortgage […]
Mortgage Lending at Highest Level Since Recession Began
December borrowing was up 49% on the previous year according to industry figures, with demand for fixed rate mortgages especially prevalent. The surge in new mortgage lending was experienced by bands and building societies alike, with an estimated £17 billion lent during the last month. According to the Council of Mortgage Lenders, gross lending in […]
Mortgage Demand Hits Six Year High
The final months of 2013 saw mortgage demand rise at the highest rate in six years, raising some concerns over its potential impact on the housing market. Lenders responded to the Bank of England’s quarterly Credit Conditions survey by identifying a significant increase in the demand of people wanting mortgages. The survey recorded a balance […]
