Falling mortgage rates are making it easier for people to purchase a home, research from the Building Societies Association (BSA) has found.
Some £12.7bn worth of gross new mortgages were lent in Q1 by building societies, an increase on the same time last year but down on Q4 figures, data shows.
Nationwide’s chief executive Graham Beale is to retire after nine years of service as the lender reports profits surged to £1bn last year.
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The chief executive of Bath Building Society Dick Jenkins has been elected deputy chairman of the Building Societies Association.
The Building Societies Association (BSA) says a long-term government strategy and multi-agency action is needed to solve the housing crisis.
The Mortgage Market Review (MMR) has permanently hardwired more conservative lending into the UK market which has been seen since the end of 2008.
Housing policy is being used as “political football” and should instead be handed to the Bank of England to create an effective long-term strategy, argues Precise Mortgages managing director Alan Cleary.
It has been under a year since the transitional rules were first introduced via the Mortgage Market Review (MMR).
Building societies have expressed disappointment at the regulator's announcement that new remortgage borrowers would be subject to a full affordability assessment to comply with the Mortgage Credit Directive (MCD).
After a marked rebound in sentiment since September, over one third of people think prospects for the property market are looking up.
The latest English Housing Survey for 2013/14 showed that despite the extreme difficulty many first-time buyers face getting their foot on the housing ladder, Britain remains a nation of proud property lovers.
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The Building Societies Association (BSA) has written to the Chancellor of the Exchequer ahead of the Budget asking for urgent and concerted action on supporting young buyers with house purchases.
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