mortgages

Mortgage affordability is a growing barrier to buying a home

18th March 2022 Consumer Lending | #mortgages

A Property Tracker Report from the Building Societies Association (BSA) has highlighted that mortgage affordability is a growing barrier to buying a home. The data reveals that just 18% of people think now is a good time to buy a property. This is the lowest figure seen since the Report began at the height of…

Value of mortgage advances increases to £70bn

9th March 2022 Consumer Lending | #mortgages

The latest mortgage lenders’ statistics suggest the housing market is cooling down, according to property experts. In the latest figures published by the Bank of England, the outstanding value of all residential mortgage loans was £1,613.4 billion at the end of Q4, 2021 – up 4.7% on the same period the year before. The value…

Mortgages to older borrowers increased to £28.1bn in 2021

23rd February 2022 Consumer Lending | #mortgages

New figures from UK Finance has indicated the highest annual volume, and value, of mortgages to borrowers aged over 55 since 2014 occurred last year, according to UK Finance’s latest later life mortgage lending report. The report found that there were 187,120 new mortgages to borrowers aged 55 years and over completed during 2021, totalling…

House prices rise at fastest pace since 2007

10th January 2022 Consumer Lending | #mortgages

The average price of a property in the UK increased by more than £24,500 last year to hit a new record high of £276,091, according to the Halifax. The 9.8% rise during 2021 was the fastest increase for any calendar year since a 12.5% rise in 2004. The mortgage lender said buyers sought more space…

Second charge mortgage new business volumes increases by 43%

10th December 2021 Arrears and Recoveries | #mortgages

New figures released by the Finance & Leasing Association (FLA) have indicated that’s second charge mortgage new business volumes grew by 43% in October 2021 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),…

Demand for consumer credit surges to £706m in October

30th November 2021 Banking and Loans | #credit cards #mortgages

Latest Bank of England data has shown that October saw a surge in credit card borrowing. Consumers borrowed a net additional £706 million last month, with new credit card borrowing accounting for £637 million of the credit, the largest amount of card borrowing since July last year. Between the start of the pandemic and April…

Mortgage borrowing increased to £9.5bn in September

1st November 2021 Banking and Loans | #mortgages

Latest Bank of England data has shown that individuals borrowed £9.5 billion of mortgage debt on net in September, the highest since June 2021. This was a rise from £4.4bn in August, and the highest figure since June 2021, when net borrowing reached a record of £17.1bn. Consumers borrowed an additional £0.2 billion in consumer…

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