Cml
Gross mortgage lending fell by over £2bn from the previous month in April, according to the Council of Mortgage Lenders (CML), giving the UK its lowest level of lending since April 2011.
A property expert warns advisers to avoid ‘no money down' buy-to-let deals, where investors use bridging finance and two solicitors to avoid paying a deposit from their own funds.
David Finlay, intermediary managing director at Barclays says with tough times for UK consumers ahead, a remortgage saves more cash than any other financial tinkering
Other Cml articles
Lending to property investors rose 32% year-on-year, but remains at just a third of pre-credit crunch levels in 2007.
Transitional, the word, means "the passage from one state to another", but the current "transitional arrangements" proposed by the FSA in the MMR Consultation Paper seem much more likely to leave consumers exactly where they are.
CML director general Paul Smee defends the lender trade body's position on advised sales with Mortgage Solutions editor Vicky Hartley
All this week we are taking an in-depth look at the issues confronting the advice market in the run up to the final Mortgage Market Review rules.
The number of properties selling for over £1m fell in 2011, but sales of properties of £2m plus hit record levels.
Gross mortgage lending in March was an estimated £13.4bn, 30% up on February and 17% up from March last year, the Council of Mortgage Lenders (CML) has found.
Proposals in the Mortgage Market Review (MMR) may penalise those with credit card and other unsecured debts with the assumption borrowers also consolidating debt could run up debt again.
Lending to first-time buyers increased in February, figures from the Council of Mortgage Lenders (CML) has shown.
Over the last few months, we have witnessed lenders revising their SVRs upwards, while mortgage rates across the market have been nudging in the same direction.
Approximately 1m householders will have their mortgage repayments upped by an average of £630 a year after several lenders' increase their SVRs next month.
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Reasons to be Cheerful
It's not all doom and gloom out there in the mortgage industry, so click here for a dose of cheer.
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