Opinion on Mortgage Lending in United Kingdom

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Type Product title / description Pub Price
CommentWire
CommentWire

UK mortgages: first time buyers given helping hand

The number of first time buyers (FTBs) getting onto the property ladder has dwindled in recent years, as they have effectively been priced out of contention. Now, a new initiative to build 10,000 new affordable homes on surplus public sector land for first time buyers has been drawn up in an attempt to jumpstart the market.

Published By Datamonitor
27 Sep 2004
CommentWire
CommentWire

Halifax: extra warnings

The UK's largest mortgage lender has joined the ever-increasing group of commentators warning of a house price fall in 2005. The Halifax's comments are the latest in a growing line of surveys, reports and official data indicating a weakening of demand and a falling number of sales in the UK housing market, but homeowners should not be too concerned...

Published By Datamonitor
06 Dec 2004
CommentWire
CommentWire

UK housing: a kick-start for starter homes

Under new government plans, tens of thousands of low-cost starter homes are to be built and tenants of council and housing associations are to be given the opportunity to buy a stake in their home. The initiatives come with a few weaknesses but if they can lessen the housing crisis, it will be a long overdue step towards tackling this issue.

Published By Datamonitor
25 Jan 2005
CommentWire
CommentWire

UK inheritance tax: an unfair burden on homeowners

In view of next week's budget, the mortgage industry is again applying pressure on the UK government to raise the threshold for inheritance tax. The CML has many times proposed that inheritance tax be indexed in line with house prices. However, it is still unlikely that the government will concede. Yet for the sake of less well off homeowners, it will have to act sooner rather than later.

Published By Datamonitor
14 Mar 2005
Expert View
Expert View

UK consumers play the mortgage game

New research has revealed that mortgage lending in the UK will decline 10% over the next three years as the housing market and house price growth stalls. The trend will make the next few years tough for mortgage lenders and in addition to a slowing market, the UK's mortgage industry faces new challenges brought about by the reshaping of the distribution landscape and a more competitive market.

Published By Datamonitor
11 Apr 2005
CommentWire
CommentWire

Abbey: fine time

Banco Santander-owned Abbey [ANL.L], the UK's second largest mortgage lender, is bracing itself for an expected FSA fine over its endowment mortgage complaint procedures. Although such a fine would bring the lender community more bad press, it at least embodies the welcome regulatory pressure on providers that persistently ignore mortgage endowment complaints.

Published By Datamonitor
12 Apr 2005
CommentWire
CommentWire

Abbey: pay as you go

Abbey [ABBE.L], the UK's third largest mortgage lender, has raised the fee it charges on early redemption by 25%, to GBP225, and evidence suggests it is not alone among lenders in so doing. While these rate hikes are in response to higher administration costs, some lenders may be using early redemption fees to bolster margins by the back door.

Published By Datamonitor
04 May 2005
CommentWire
CommentWire

Bank of England: a steady hand at the helm

The UK Monetary Policy Committee has voted to leave interest rates on hold at 4.75%, sparking rumors of cuts before the end of the year. The decision was prompted by weak manufacturing and retail performance. The Bank of England has been sensible in adopting a 'wait and see' policy, but with levels of UK personal unsecured debt at an all time high, it may be forced to act further down the line.

Published By Datamonitor
11 May 2005
CommentWire
CommentWire

Abbey: reopening old wounds

Reports suggest the FSA will rule that Abbey must review rejected complaints over endowment mis-selling. Such a move by the UK banking watchdog would come at the worst possible time for Abbey. Abbey's new owners Banco Santander have already faced criticism over heavy job losses: the last thing the bank needs now is a public admonishment over its complaints procedures.

Published By Datamonitor
17 May 2005
CommentWire
CommentWire

Britannia / Bristol & West: branching out

Britannia has announced that it is to buy the entire UK branch network of Bristol & West (B&W) from Bank of Ireland in a GBP150 million deal. The move suits both sides, as it adds significant scale and strength to Britannia's position in the household banking sector, while allowing Bank of Ireland to dispose of a poorly performing asset.

Published By Datamonitor
25 May 2005

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