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Mortgage lending growth strong in February

There was a 33 per cent year-on-year increase in mortgage lending in February, according to the latest Council of Mortgage Lenders (CML) figures. New data confirms the strong growth seen in the market when compared with last year as more people try to get onto the property ladder.  The monthly dip in lending in February was primarily due to seasonal factors and is not ...

10th Apr 2014

Brits 'favour new builds over projects'

Less than one-fifth of house hunters are willing to take on a property that requires a lot of work.  People are not keen to bite off more than they can chew concerning refurbishments, with 30 per cent solely focused on buying new builds, according to research by Gocompare.com. Despite the vast majority of respondents admitting they prefer older properties (63 per ...

9th Apr 2014

General news archive

Home moves 'driven by lifestyle factors'

Lifestyle reasons are fuelling the majority of home moves, according to new research. More than 50 per cent of people questioned as part of Strutt & Parker's Housing Futures survey said they want to relocate in order to have a better lifestyle.  Access to shops and amenities (35 per cent), being close to friends and family (32 per cent) and reducing their ...

3rd Apr 2014

Deposit 'biggest barrier' to homeownership

Britons are worried about their ability to save up for a deposit as they try to get onto the property ladder. Nearly two-thirds (63 per cent) of people surveyed said it is the biggest barrier to becoming a homeowner, according to a survey by the Building Societies Association (BSA). It represents the highest level for two years and demonstrates how first-time buyers have ...

31st Mar 2014

Londoners 'not keen' to live in high-rise buildings

Londoners do not want to live in high-rise buildings, according to new findings. While the aesthetic qualities of developments such as the Gherkin, the Shard and the Cheesegrater are appreciated by residents in the city, 70 per cent of over-34s have no desire to set up home in one of them, a study by New London Architecture has found. Despite this, one-third believe these ...

28th Mar 2014

First-time and cash buyers 'leading housing recovery'

First-time and cash buyers are driving the housing market recovery in England and Wales.  Some 28 per cent of sales in 2013 were completed by people making their first steps onto the property ladder, the best rate since 2000, according to figures from Hamptons International.  Cash buyers were responsible for more than a third of all transactions (350,000 ...

28th Mar 2014

Gross mortgage lending up 43% in February

Gross mortgage lending in February 2014 increased by 43 per cent year-on-year in a clear sign of the progress being made in the market at present. While the £15.2 billion advanced during the month was actually down six per cent on January, it still represents the highest total for a February since 2008, according to the Council of Mortgage Lenders (CML). Housing ...

21st Mar 2014

One in three will still have a mortgage in their 60s

Almost one-third of homeowners with repayment mortgages will be in their retirement years before they have repaid their loan. This is the stark situation facing many people in the UK at present, with one in 20 expected to be in their 70s before their mortgage runs out, research by Ocean Finance has found.  It means more than one million Britons will still owe money at ...

19th Mar 2014

First-time buyer lending hits six-and-a-half year high

Lending to first-time buyers reached its highest level since 2007 in the final three months of last year as government measures encouraged more activity.  Some £10.6 billion worth of loans was advanced to first-time buyers in Q4 2013, which represents a year-on-year increase of 41 per cent, newly-released figures from the Bank of England show. The early ...

11th Mar 2014

MMR will 'dampen' mortgage market

Processing times for mortgages will increase significantly as a result of the Mortgage Market Review (MMR), it has been stated. The more forensic approach to checking affordability will result in higher costs and Mark Harris, chief executive of mortgage broker SPF Private Clients, thinks these will end up being passed onto the customer.  He also fears product ...

5th Mar 2014

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