Buy to let: Lending to landlords soars, as eviction rates rise

Buy to let: Lending to landlords soars whilst eviction rates also riseNew figures have confirmed previous reports that the buy to let sector is booming. Data released by the Bank of England, shows lending to buy to let landlords has increased by 29% in the three months to the end of June 2013, compared to the same time last year. Lending to first time buyers has also increased at a similar rate, confirming that both groups, who often compete ...

Demand for fixed rate mortgages at record high

iStock_000009025017_ExtraSmallAccording to recent figures, published by the Council of Mortgage Lenders (CML), demand for fixed rate mortgages has risen to a record high. The CML’s figures reveal 83% of new mortgages, taken out in the first quarter of this year, were on a fixed rate; the highest proportion since records began in 1993. The increase in the number of fixed rate mortgages being taken out is part of an on-going trend. 10 years ago only 19% of new mortgages were of this type, ...

Housing & Mortgage Round Up: Huge rise in house, whilst home ownership falls

Housing & mortgage round up_istockphotoThis week’s Housing and Mortgage Round Up has a distinctly historical feel to it with research showing an amazing increase in house prices over the last 40 years, whilst another report shows that home ownership has fallen over the past 25 years. But before that we start with the latest Halifax House Price Index figures. Are you looking for ...

Business: Funding for Lending scheme launched

A new government initiative to push banks into lending more money to businesses and consumers has started. Under the ‘Funding for Lending’ scheme (FLS) the Bank of England will make it easier for banks to borrow money at below market rates, with the intention that this will in turn, be lent on to businesses and individuals. The banks who receive the funds will be monitored to ensure that their lending increases. Lending to businesses The Bank says that the FLS is "designed to incentivise banks and building societies to boost their lending to UK households and non-financial companies"....