The British Bankers Association (BBA) said today that the number of British mortgage approvals fell in November due to the continuing economic uncertainty across the UK. The BBA’s monthly report said that UK households were generally more prone to repay existing debts than take on new loans including mortgages. In total, some 34,738 mortgages were … Continue reading “UK Consumers Remain Cautious Over Mortgage Borrowing”

There was good news this week for anyone seeking a high-value mortgage, with the news that Great Britain’s high-street banks are now increasingly offering larger home loans. Previously only private banks have offered mortgages for £750,000 or more, but in the past year or so mortgage brokers are placing a growing number of million-plus loans … Continue reading “UK High Street Banks Move Into Large-Scale Mortgages”

Prior to the EU Referendum vote, no one knew what effect the outcome could potentially have on house prices. As it was, the vote for Brexit did not trigger the doom and gloom many Remainers predicted it would. With that said, though, increases in house prices have slowed in recent weeks, although they still remain … Continue reading “UK House Prices Are Dipping, According to Latest Figures”

The latest figures to be released from the Office of National Statistics reveal the total amount of property debt in the UK has surpassed the £1 trillion mark. This focuses on the total amount outstanding for property debt on someones main residence and also on any further properties someone might own. Not surprisingly, property owners … Continue reading “UK Households Now Hold £1 Trillion in Property Debt”

It was perhaps to be expected given the statistics we have seen over the last few months. Today however it became clear that the housing market across the UK has hit a plateau. The total amount of lending on mortgages during September totalled £17.8 billion. This represented a 1% drop over the figures for August. … Continue reading “UK Housing Market Hits a Plateau”

UK mortgages rose higher than expected during December. Analysts had previously predicted around 59,000 approvals would be made during the final month of 2014. However in reality the number was higher, reaching 60,275 instead. This was significantly higher than Novembers figure, which only reached 58,956. The information comes direct from the Bank of England. The … Continue reading “UK Mortgage Approvals Experience Surprising Upswing in December”

UK mortgage approvals hit a high note to start the year, as 44,657 mortgages were approved in January. Data from the British Bankers’ Association revealed this was the highest figure since last January. It was also up on the number approved in December. 2016 ended with 43,581 being approved, so January’s figure was over 1,000 … Continue reading “UK Mortgage Approvals Reach High Point in January”

The UK Mortgage Freedom Day is calculated as the day when homeowners will have paid the total cost of their mortgage for the entire year. The date is calculated by Halifax, and is based on the average mortgage repayment and the average net income over 12 months. These have been calculated this year as £7,968 … Continue reading “UK Mortgage Freedom Day Fell on 19th April This Year”

New figures published this week has revealed that people in the UK with a mortgage are doing better from current financial conditions than savers. The data, published by the Bank of England (BoE), revealed that UK mortgage-holders paid a total of £1,328 billion in mortgage interest in between December 2008 and December 2011, compared to … Continue reading “UK Mortgage-Holders ‘Better Off Than Savers’”

In a sign that the mortgage market is getting ever tougher for those looking for a mortgage, many UK lenders have confirmed they expect the rate of approvals will drop in the coming three months the third quarter of 2014. The Bank of England has recently released its Credit Conditions Survey which covers the second … Continue reading “UK Mortgage Lenders Predict Fall in Approvals”