The CML report that gross mortgage lending continued to rise in October

The CML estimates that gross mortgage lending reached £21.8 billion in October – which is 8% higher than September’s lending total of £20.1 billion. Lending also rose 19% year-on-year from £18.4 billion in October 2014, in addition to the month-on-month rise. This is the highest monthly figure since gross lending reached £23.6 billion in July 2008. Bob Pannell, CML chief economist, comments: "As lending in the regulated mortgage space picked up over the summer months, the pace of recovery has improved. This looks set to continue over the closing months of the year with the factors helping support this recovery continuing to be low inflation, strong wage growth, an improving labour market and competitive mortgage deals. As a result lending this year is likely to exceed our forecast of £209 billion, though affordability pressures will limit business volumes for first-time buyers and movers meaning that we think the market has only...
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Arrears and repossessions continue to fall, says CML

Latest figures from the Council of Mortgage Lenders show a fall in the first quarter of this year in the number and the proportion of mortgages in arrears or ending in repossession. A decline was experienced in all arrears bands, and across both owner-occupier and buy-to-let lending.
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Buy to Let Investing is still surging!

Buy-to-let investment is still surging, fuelled by impressive returns. A study conducted by a former economist last week claims that buy-to-let investments have outperformed all major asset classes over the past 18 years.
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Gross mortgage lending declines in January

The Council of Mortgage Lenders estimates that gross mortgage lending reached £14.3 billion in January. This represents a 14% decrease from December’s gross lending total (£16.6 billion) and is 11% lower than the £16.1 billion lent in January last year. Commenting on market conditions, CML chief economist Bob Pannell says: "The softer pace of approvals through the second half of last year contributed to the relatively weak pace of mortgage lending in January. Although seasonal factors will continue to weigh on activity levels for a while longer, we expect the underlying picture to pick up over the coming months, in line with stronger earnings and employment, gentle interest rate trends and recent stamp duty changes. "As we forecast at the end of last year, gross mortgage lending remains on course to reach an expected £222 billion this year."
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Year ends with largest ever monthly fall in price of property coming to market

Rightmove forecast for 2015: price of property coming to market to rise by between 4% and 5%, with upwards price pressure driven by:
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Gross mortgage lending steady in September says CML

There is growing evidence that mortgage lending activity, and the housing market, are sitting on a plateau.
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Strong increase in lending to individuals

The Bank of England’s Money and Credit statistics were released this week and show a strong increase in lending to individuals. The figures specific to property, or ‘Dwellings’ as the bank terms it, are also strong.
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CML says Gross mortgage lending £18.6 billion in August

The CML (Council of Mortgage Lenders) estimates that gross mortgage lending reached £18.6 billion in August. This is 5% lower than July (£19.7 billion) but 13% higher than August last year (£16.4 billion) and the highest lending total for an August since 2008 (£19.3 billion).
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House purchase lending steady despite MMR

The Council of Mortgage Lenders has reports steady growth in lending during the second quarter of 2014, despite the introduction of the Mortgage Market Review changes. Key Highlights: Buy to let lending was up 5% to £2.2 billion although the number of loans remained the same at 15,600. The yearly figures were strong though with a 38% increase in value and 23% in number 28,600 First time buyer loans in June - 7% higher than in May and 19% up over the year. By value this was up 11% in the month to £4.2 billion. Lending to home movers grew, though less than for first time buyers, with a 4% rise. Remortgaging remained muted. Quarterly the buy to let lending was up 3% compared to the first quarter of 2014 Paul Smee, director general of the CML, commented: “For the second month running since new FCA rules took effect, lending characteristics...
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Mortgages could be capped to control house prices, says Bank Governor

The Bank of England could step in to curb mortgage lending amid fears Britains booming housing market risks threatening the economic recovery, says its Governor Mark Carney.
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Will the MMR make the residential mortgage market a safer place?

April 26th saw the biggest changes to mortgage regulation since the FSA (now the FCA) started regulating residential mortgages back on 1st November 2004 or ‘M-Day’. Aptly named the Mortgage Market Review (MMR) the changes were prompted in response to the financial crisis of 2008/2009 and are aimed at making the residential mortgage market a safer place in the future by placing greater emphasis on advice, affordability and tightening up rules on riskier types of lending. A brief summary of the changes are:- Advice must be given where there is any interaction between advisor and customer (there are some exceptions) whereas previously consumers could opt for a non-advised or ‘information only’ process, in fact prior to MMR some brokers/advisors only offered a non-advised process. Greater emphasis on responsible lending:- o   Greater focus on income and expenditure (affordability) o   Lending into or near to retirement will be scrutinised to ensure customers...
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Is now a good time to fix your mortgages?

A recent study reported by the BBC has shown a big North/South divide in terms of total UK mortgage lending.
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Is time running out to secure a mortgage?

For those on the fringes of affordability time could be running out to secure a mortgage. There are two reasons for this. The first is something the mortgage industry has been aware of and preparing for for the last couple of years; it’s called the Mortgage Market Review or MMR for short. These are a series of reforms that were set in motion in the wake of the financial crisis of 2008/09 and April 26th is the deadline for compliance with these new rules. However many lenders are implementing the changes throughout the month of April so they can be sure they’re ready in time for the deadline
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Strong increase in lending on dwellings

The Bank of Englands Money and Credit statistics where released this week and show a strong increase in lending to individuals. The figures specific to property, or Dwellings as the bank terms it, are also strong.
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BoE reports lending on dwellings increased

The Bank of England today released its "Money and Credit" statistics for January 2014. In the release they have reported that the lending secured on dwellings has increased by £1.4 billion in January 2013, up from £1.2 billion on the previous 6 monthly average.
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CML Regional Releases for Wales

Wales - 28% growth in first time buyers. In Wales the number of first time buyers increased in the fourth quarter quite substantially. The year-on-year growth against the 4th quarter of 2012, first time buyers were up by 28%. Against the 3rd quarter of 2013 they were up by 14%.
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Property Investment - how do I raise the finance?

It’s the $64,000 question when starting out in property investment.  How do I raise the finance to begin?  If you are starting from the privileged perspective of having a good chunk of capital or you are able to release equity from a property to work with when you begin to buy property then that is great.  It makes the process much easier from many angles.  It gives you the confidence to know that any offer you make is backed up by funds in the bank and therefore offers you greater bargaining power.  Coupled with the right knowledge and guidance, it also means that you can start your search sooner rather than later and get going on your chosen strategy. Starting from scratch? If, however, you are starting from scratch, then things can be altogether different.  In my opinion it all depends on your mindset.  If you are truly open to...
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Lending on Dwellings up in December

The Bank of Englands "Money and Credit" statistics for December 2013 were released today. In the they report on the amount of lending secured on dwellings and have shown an increase . Key Facts: Lending secured on Dwellings was up by £1.7 bn, which was a large growth in comparison to the 6 month average of £1.1bn. Gross lending secured on dwellings was £17.6 bn, with repayments on £15.7 bn Within these statistics are also figures around the Mortgage Approvals during the period. The number of loan approvals for purchases was 71,638 - again up by quite a bit on the 6 monthly average of 65,001. The number of loans for remortgaging purposes was 34,754 which was relatively unchanged from the 6 month average.
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Webinar - How to make £5K per month part time from property!

If you are serious about generating some good cash in the next few months then make this a priority and join Simon on this NO COST webinar on Monday 3rd February at 9pm
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Property Predictions for 2014

With 2013 becoming a distant memory we find ourselves facing 2014 pondering the changes that will occur in the property market.   Nick Carlile, Managing Director, Platinum Portfolio Builder (PPB), would like to share his predictions for the year ahead when considering UK Residential Property Investment He focuses on the key issues that concern any investors or those contemplating a move into property, which are: Price Price is always at the forefront of any investor’s mind and the subject which generates the most debate! Nicks predictions for this year are that prices in London will begin to slow down (albeit there will be some level of growth) and other areas around the UK will instead experience greater levels of growth. Geographical Areas Nick believes, that for the best investments in 2014 (which provide greater discounts, double digit yields and a good income) the best strategy is to focus further North on...
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