CML said mortgage lending fell again in August
October 18, 2008 by admin
Filed under News, News-Mortgages
According to officials from the Council of Mortgage Lenders mortgage lending levels fell in August, with the value of mortgage lending having fallen by 12 percent compared to July and by 36 percent compared to August of the previous year. The total amount of new mortgage lending for the month came to just £21.8 billion. This was the lowest level of mortgage lending since 2005 and the lowest level of mortgage lending in August since 2002. Read more
Tags: council of mortgage lenders, long house prices, property transactions, economics, new mortgage lending, industry, amount, mortgage lending
BBA: Mortgage outlook weaker
October 26, 2007 by admin
Filed under News, News-Mortgages
New mortgage lending is down indicating a weaker outlook for the mortgage market.
According to the BBA, house purchase approvals last month were down 27 per cent on last year’s figure for September and were also down 21 per cent in value.
The gross mortgage lending value for September this year was at £18.5 billion, just three per cent up on the same time in 2006.
Also, last month 160,879 mortgages were approved which was down 12.1 per cent on the previous year.
David Dooks, BBA director of statistics, commented: “Lower amounts of new mortgage lending and fewer loans approved for house purchase signal a weaker outlook for the mortgage market, particularly if loan supply reduces in the aftermath of the recent financial markets difficulties and borrowing costs remain at current levels.”
He added that card spending was down in September as were repayment rates and this resulted in a rise in net borrowing although in all, demand for unsecured borrowing was low.
The BBA is a trade association for UK financial and banking services and has members in 60 different countries.
