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The Bank of England (BoE) holding the base rate at 0.10% today has elicited a frenzy of commentary from market watchers – indeed, it came as something as a surprise. The majority of commentators so far agree the decision is a good thing for the mortgage industry. “Despite growing pressures to tackle rising inflation,
Some of the nation’s biggest lenders have raised their mortgage rates in the past couple of weeks, and according to many in the industry, more could be coming soon. The Bank of England (BoE) has made no secret that it is weighing up a base rate rise early next year and, coupled with chancellor Rishi Sunak referring
Resi transactions in September stood at 160,950, 68.4% higher than September 2020 and 67.5% higher than August 2021, according to HMRC.
Mortgage borrowing settles after record month, BoE says By Gary Adams 3 rd June 2021 11:17 am Net mortgage borrowing in April came to £3.3bn, show new figures from the Bank of England, down from the record £11.5bn seen in March. This, the BoE says that “despite weaker net lending, both gross lending and repayments remain above levels seen since the start of 2020. The recent variability is likely to reflect the reduction in the stamp duty tax.” Meanwhile, the number of mortgage approvals in April came to 86,900 at a value of £20.2bn, which compares to 83,400 ...
Homemovers have “emerged from the shadows” since last summer, says UK Finance, with its latest quarterly figures showing the number of transactions of this type outnumbering that of first-time buyers. UK Finance says that homemover numbers have been at approximately half their typical levels seen in 2005 to 2007