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Mortgage lending 'picks up again'

Mortgage lending to home buyers picked up again in June, the Council of Mortgage Lenders (CML) says.

Its figures showed that there were 52,000 new loans granted to home buyers, 19% more than in May and up 14% on the same month a year ago.

The CML said activity was "still on an upward trajectory" and described the rise in June as "significant".

However, the lenders' organisation said it was still cautious about the prospects for the coming months.

UK house prices rose 0.6% in July, Halifax says

UK house prices have continued to stabilise, according to the latest report from the Halifax.

Prices rose 0.6% in July, the Halifax said, reversing a fall seen in June, but values have changed little since the start of the year.

The annual house price inflation rate fell from 6.3% to 4.9%, with the average property now costing £167,425.
 

House prices up again in June, says Nationwide

House prices rose again in June but only by 0.1%, according to the Nationwide building society.

The rise follows a 0.5% increase in May, with the average property in the UK now costing more than £170,000.

Prices have risen by 3% since the start of the year, the Nationwide's house price index showed.

However, the rate of annual house price inflation fell again to 8.7%, with prices rising more slowly than they did this time last year.

Home owners given new protection by FSA

New rules to protect struggling mortgage holders have been outlined by the Financial Services Authority (FSA).

The rules seek to help people who have fallen behind on their mortgage payments, with the FSA saying they must be treated fairly by lenders.

The FSA also wants to ensure all mortgage advisers have been approved as "fit and proper" persons.

It has also announced new rules for staff and firms operating in the "sale and rent back" market.

Mortgage lending sees May bounce

Mortgage lending continued its spring rise into May, according to the British Bankers' Association.

The number of mortgages approved for house purchases rose to its highest level so far this year.

A total of 36,709 loans were approved by the major banks for people buying a property during the month.

It was the third month in a row of rising mortgage approvals, and left the amount outstanding 4.3% higher than in May 2009.

The BBA represents the High Street banks, which account for 75% of new mortgage lending.

 

Source: BBC News

Hips change boosts homes for sale, surveyors say

More homes are being put up for sale in England and Wales because of the abolition of Home Information Packs (Hips), surveyors say.

The latest survey from the Royal Institution of Chartered Surveyors (Rics) found a "sharp increase" in new instructions from would-be sellers.

Twenty-two per cent more surveyors reported a rise in prices than reported a fall in the three months to May.

However, the number of completed sales fell by 5%, to just 17 per surveyor.

UK mortgage lending edges higher

Mortgage lending crept up in April compared with the previous month, according to the Bank of England.

The number of mortgages approved for house purchases increased to 49,871 in April from 49,008 in March, a rise of 2%, the Bank's figures showed.

Meanwhile, UK consumers paid back more than they borrowed in April, with the net level of unsecured credit falling by £136m.

 

Source: BBC News

UK mortgage borrowing is recovering, lenders say

Mortgage borrowing by house buyers is recovering, the Council of Mortgage Lenders (CML) has said.

The number of loans made to home buyers rose by 25% between February and March, to 45,000.

And borrowing by first-time buyers rebounded faster than that by existing home owners, the CML said.

Source: BBC News

House prices up 6.6% in past year, the Halifax says

House prices up 6.6% in past year, the Halifax says
Page last updated at 9:54 GMT, Friday, 7 May 2010 10:54 UK
E-mail this to a friend Printable version Prices will be flat this year the Halifax says House prices have gone up by 6.6% in the past year, according to the latest Halifax house price survey.

Although this was the fastest annual rate of increase since October 2007, the mortgage lender stressed that the trend in recent months has been for price rises to slow down.

House sales 'continue to pick up'

House sales in the UK are continuing to revive after their post-Christmas slump, figures have suggested.

HM Revenue & Customs said sales rose by 13,000 in March from February to 72,000, a jump of 22%.

The level of sales was also 24% higher than in March last year, when the market was at its most depressed.

However, sales are still less than half the number reported at the same stage of 2007, before the market collapsed under the impact of the credit crunch.