Mortgage Rates Payment Calculator UK

Welcome to our Mortgage Rates Payment Calculator UK Site, we hope you find the tools helpful, if you have any queries about the mortgage tools or the site in general please let us know here Queries about Mortgage Rates Payment Calculator UK

Mortgage article 11:Mortgage Lending Reaches Record Level

Friday 19 April 2002

A strong rise in loans for house purchase helped mortgage lending reach a record level of 16.6 billion in March, according to figures from the monthly CML/DTLR Survey of Mortgage Lenders based on mortgage completions from both banks and building societies.

Lending rose sharply from February's total of 13.3 billion and was considerably higher than the 12.3 billion recorded in March 2001. Loans for house purchase increased to 9.3 billion in March or 56% of gross advances, compared with 6.8 billion in February (51% of gross advances). Remortgaging also reached a record level of 6.1 billion in March but, because of the particularly strong growth in loans for house purchase, it declined as a proportion of gross advances to 37% 

The figures, published on the day of the CML's annual lunch, showed that the number of loans for house purchase totalled 116,000 in March, compared with 87,000 last month and 103,000 in March 2001.

But although the figures showed a small increase in the proportion of loans to first-time buyers, affordability for this group has become more difficult over the last year. On average, first-time buyers borrowed 82% of the value of their properties and 2.51 times their income last month, compared with 80% of the propertys value and 2.38 times income in March 2001.

In his speech at today's lunch, CML chairman Andrew Pople will call on the Government to do more to reduce the impact of stamp duty on first-time buyers after the Chancellor failed to ease their difficulties in this weeks Budget.

Addressing the lunch guests, Mr Pople will say: Next page



Simply enter your name and email address below to access all mortgage services free of charge, note we will never pass your details to third parties Security Policy

Alternatively if you wish one of our advisors to source best uk mortgage rate on your behalf - click here

We recommend the above option particularly if you have had credit problems ie ccjs, defaults, arrears, repossession or bankruptcy as these can be difficult mortgage cases - more about adverse credit click here

First Name Surname E-mail address     

Find best uk mortgage rates and cheapest repayments online using our UK mortgage calculator or use one of our mortgage advisors to guide you through the best lenders and compare monthly mortgage payments




Site Map

Main page for poor or bad credit history mortgages

Credit repair mortgages

Discharged or ex bankrupts mortgages

Mortgages for people who have had homes repossessed

Mortgages for people with ccjs, defaults or arrears

Poor or bad credit history mortgages

Right to buy council house purchase mortgages


mortgage rates payment calculator uk