UK mortgage approvals rose to more than two-year high before Budget Economics UK lenders approved the most mortgages in more than two years last month as Britain’s housing market proved resilient ahead of the new government’s first Budget. Banks and building societies gave the green light to 68,300 loans for house purchase in October, according to data from the Bank of England. That figure is the highest [...]
On housing, the government’s numbers just don’t add up Opinion Developers can only build at the rate they can sell, and this is intrinsically linked to mortgage financing. Long-term, fixed-rate mortgages above the 4.5 times income threshold can be part of the solution, says Arjan Verbeek The United Kingdom’s housing market is at a critical juncture. The government has pledged to deliver 300,000 new homes [...]
Lendinvest taps Barclays, HSBC and BNP for £300m financing Fintech Lendinvest has renewed a £300m financing deal with Barclays, HSBC and France’s BNP Paribas as the property fintech looks to return to profitability. The AIM-listed firm said the revolving warehouse financing agreement, shared equally between the three banks, had been extended for an additional three years on what it called improved terms. LendInvest said the [...]
Mortgage Advice Bureau shares jump as firm hails ‘growing market momentum’ September 24, 2024 Shares in Mortgage Advice Bureau jumped as much as 15 per cent on Tuesday morning after the financial services firm hailed "growing market momentum" after a "highly challenging 2023".
Lendinvest: Fintech lands £500m investment from JPMorgan September 10, 2024 Property fintech Lendinvest has added £500m to a funding deal with JPMorgan as it looks to return to profitability after a rough year for mortgage lenders.
Lenders expect further rise in mortgage defaults in coming months July 11, 2024 UK lenders are expecting a further jump in default rates on home loans in the coming months, according to a Bank of England survey, as mortgage holders face higher refinancing costs.
Average mortgage ‘shelf-life’ cut in half as lenders raise rates June 10, 2024 The average "shelf-life" of a UK mortgage has nearly halved in a month, new data shows, as lenders raise rates on home loans.
Mortgage lending remains subdued as high rates put off borrowers June 3, 2024 Hopes for a rebound in the mortgage market in the first half of 2024 have been dashed by fresh lending data, as appetite for home loans was hit by reduced optimism over interest rate cuts from the Bank of England.
Scale of tax and mortgage bombshell on London and south east “eye-watering” May 22, 2024 The government has been criticised for a so-called “mortgage bombshell” hitting workers in the commuter belt after it emerged households are facing almost £9m in extra payments.
Ex-pensions minister: ‘Serious questions’ for lenders as ultra-long mortgages surge May 13, 2024 Young homebuyers are at risk of falling into poverty in older age, a former pensions minister has warned, as fresh data suggests more than one million new mortgages over the last three years were issued with end dates beyond the state pension age.