To rent or buy? The question which splits first time buyers

English HomesNew data has painted a confusing picture of the first time buyer housing market. The Council of Mortgage Lenders (CML), has released figures which show the number of first time buyers rose by 41% in July 2013, compared to the same time last year. In contrast, research from insurer LV=, formerly known as Liverpool Victoria, has shown many people of first time buyer age are happy to continue to rent. First time buyers on the rise The CML data shows a total ...

Huge leap in mortgage lending

Huge leap in mortgage lending 150 pxNew figures from the Council of Mortgage Lenders (CML) show a huge increase in the level of mortgage lending over the past 12 months. The CML data shows a rise of 29% in gross mortgage lending in July this year, compared to the same time 12 months ago. The figures also show a 12% rise from June 2013 to July 2013, taking gross mortgage lending to £16.6 billion. According to the CML mortgage lending is now at the highest level since October 2008, when the ...

Carney delivers disappointment for savers and pensioners

ThumbThe new Governor of the Bank of England, Mark Carney, dealt a huge blow to savers today, as he revealed the Bank will not consider pushing up interest rates, until the unemployment rate falls to 7%. The current jobless rate stands at 7.8% and to reduce the level to the proposed new threshold would mean an additional quarter of a million jobs would need to be created. Delivering his first Inflation Report Mr Carney said could take a further three years. With at least a nod ...

Nationwide House Price Index: Steepest rise for three years

Nationwide Building SocietyThe latest figures from the Nationwide House Price Index show a sharp jump in house prices over the past 12 months. According to the UK’s largest building society, house prices rose in July by 0.8%, with the London market again leading the way. Over the past 12 months, the Nationwide reported prices have risen by an average of 3.9% across the UK; the fastest rate of growth since August 2013....