Second charge mortgages fell by 2% in April

18th June 2025 Consumer Collections | #mortgages

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 2% in April 2025. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

Read more

Nearly nine in ten Africans say they have been turned down for a mortgage

Nine in ten (87%) of Africans living and working in the UK have been turned down for a mortgage because of circumstances relating to the fact that they are a foreign national, according to research of 500 UK-based African diaspora by specialist lender Afin Bank. The research found that almost half (48%) said they were…

Read more

Mortgages approvals fall for fourth consecutive month

Latest data from the Bank of England has found that net borrowing of mortgage debt by individuals decreased sharply by £13.7 billion to -£0.8 billion in April. This followed an increase in net borrowing by £9.6 billion in March. Net mortgage approvals for house purchases decreased for the fourth consecutive month, with a fall of…

Read more

More than 900,000 households to benefit from fall in fixed rate mortgages

9th May 2025 Consumer Lending | #mortgages

New research by Compare the Market has found that 937,433 homeowners who took out mortgages in 2023 could benefit from a decline in monthly payments as they come off two-year fixed rate deals that had an average interest rate of 5.06%, according to their analysis based on a Freedom of Information request to the Financial…

Read more

Self-employed making huge sacrifices to achieve home-ownership

The UK’s self-employed workers and freelancers are making huge personal and professional sacrifices just to achieve their home-ownership ambitions according to new research by Together, Many of the country’ entrepreneurial wealth creators have put on hold important life plans such as marrying, having children or expanding their businesses – potentially hitting future earning potential –…

Read more

First-time buyers paying extra £4,200 a year on their mortgage

10th March 2025 Consumer Lending | #mortgages

First-time buyers in the UK are facing paying an extra £4,200 a year on their mortgage with increased mortgage payments, which now average £940 per month compared to £590 five years ago, according to latest Rightmove research. The data showed that the average price for a first-time buyer home currently stands at £226,887. The analysis…

Read more

Only 14% of largest towns and cities are affordable to single income buyers

18th February 2025 Consumer Lending | #housing#mortgages

New research by Apil Mortgages has found that only 14% of the UK’s 100 largest towns and cities are affordable to single-income buyers. Buying an average home in 16 of the UK’s 100 largest towns and cities requires a deposit of more than £200,000 for a mortgage applicant earning an average salary. In more than half (52%) of these towns and…

Read more

Half a million pensioners are still paying off their mortgages

31st January 2025 Consumer Lending | #mortgages

Almost half a million pensioners in the UK still have not paid off their mortgages, according to the latest research from SunLife. The report found that 69% that are homeowners, more than one in five (23%) still have a mortgage, owing £67,478 on average. And while most (86%) of those with outstanding mortgages are still…

Read more

Mortgage lending rises for the second consecutive quarter

5th December 2024 Consumer Lending | #arrears#mortgages

Mortgage lending rose for the second consecutive quarter to reach £41.4bn in Quarter 3 (Q3), up 15% compared to the same three months of last year, according to latest data UK Finance. Mortgage activity throughout 2024 has been very sensitive to changes in product pricing. In the third quarter, as lenders were able to reduce…

Read more

Mortgage approvals hit two-year high

2nd December 2024 Consumer Lending | #mortgages

Latest Data from the Bank of England shows that UK lenders approved the most mortgages in more than two years in October, with 68,300 home loans given the green light. This was the highest monthly total since August 2022 and compares to 66,115 approvals in September. While brokers had been anticipating a rebound in activity…

Read more

Extending a mortgage by ten years costing first-time buyers £87,000

22nd August 2024 Consumer Lending | #mortgages

New research by Mojo Mortgages’ data has revealed that extending a mortgage from 25 to 35 years can cost the average first-time buyer an extra £87,180. The data found based on the average mortgage rate and house price, extending your mortgage rate by 1 year can cost an additional £8,472. 2 years can cost an…

Read more

320,000 have been pushed into poverty by high mortgage rates

A new report from the Institute for Fiscal Studies (IFS) estimates that an extra 320,000 people have been pushed into poverty as they moved onto more expensive deals, as a result of the rise in mortgage rates in 2022 and 2023. The rise in mortgage rates saw the average rate for a two-year fixed mortgage…

Read more

Mortgage rates adding affordability pressures to homeowners

The cost of living pressures are easing for some households due to lower inflation and strong wage growth, however for many, high house prices and mortgage rates are adding to affordability pressures on first-time buyers and those looking to re-mortgage or move home according to aProperty Tracker report from the Building Societies Association (BSA). The…

Read more

1 2 3 6