Credit, Collections & Insolvency News
The number of pure interest-only homeowner mortgages outstanding fell by 17.7% in 2025 to 445,000, according to latest figures from UK Finance. In addition, there were 156,000 partial interest-only (part and part) homeowner mortgages outstanding at the end of 2025, 10.3 per cent fewer than in 2024. The total interest-only mortgage stock (including part and…
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Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
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Latest data from Moneyfacts has revealed that despite mortgage turmoil easing in April, first-time buyers remain under pressure from reduced choice and stretched affordability. Mortgage product choice has contracted by around 10% since the start of March, with higher loan-to-value deals (10% or less deposit or equity) falling by 14%, a blow to first-time buyers…
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February is on track to record the highest number of new home listings in a decade, according to Zoopla’s latest House Price Index. Combined with falling mortgage rates, the market is currently looking particularly good for first time buyers, with 40% of homes for sale now cheaper to buy with a mortgage than rent. Reflecting…
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The Financial Conduct Authority (FCA) has announced new plans to reform the mortgage market to widen access to affordable mortgages for consumers. The four areas of focus include simplifying mortgage rules for first-time buyers and underserved consumers; reviewing retirement interest-only requirements to make them more accessible; improving innovation and disclosure rules and working with…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 10% in August 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…
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Buying a home could be cheaper than renting in most major UK cities, according to Lloyds Bank analysis. The data shows that first-time buyers can save an average of £225 monthly by purchasing a home instead of renting. Their analysis shows that mortgage payments are typically 17% cheaper than rental costs in most major UK cities outside…
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Latest Bank of England data showed that net borrowing of mortgage debt fell by £200 million month-on-month to £4.3 billion in August. This came after a £900m decrease to £4.5bn in July. Mortgage approvals fell last month as uncertainty hit one of the key indicators in the property market. Mortgage approvals for house purchases decreased…
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Latest Bank of England data showed mortgage approvals for house purchases rose in July for a third consecutive month, Mortgage approvals for house purchases increased by 800 in July, to 65,400. Approvals for remortgaging decreased by 2700 in July, to 38,900. Net borrowing of mortgage debt by individuals decreased by £0.9 billion to £4.5 billion…
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New Freedom of Information (FOI) data from the Financial Conduct Authority (FCA), analysed by Quilter, has revealed a significant rise in the number of people taking out mortgages with a term of 35 years or more. In 2024, 30,338 mortgages with a term of 35 years or more were sold to people aged over age…
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A survey commissioned by the Building Societies Association (BSA), which represents UK mutual lenders like building societies and credit unions, found that 59% (nearly a third) of renters aged 25 to 44 had expected to be homeowners by now. Of those, 33% believe they will never own a home, while 31% hope to buy within…
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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…
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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…
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