Decline in mortgage arrears and repossessions
Mortgage arrears and possessions continued to decline in the third quarter, according to CML data showing that a combination of low interest rates, a responsible approach by borrowers and lenders, and support from the government and debt advisers has been helping to keep payment problems in check. But, with the economic outlook uncertain and in […]
September sees little movement in mortgage market
Slight falls in lending to some groups of new borrowers were tempered by comparable rises to others leading to a flat mortgage market in September, according to new data from the Council of Mortgage Lenders. There were 50,000 loans for house purchase (worth £7.4 billion) advanced in September, unchanged by volume but down £0.2 billion […]
New board structure for Eclipse
Eclipse is a leading provider of case management, practice management and workflow software. The firm’s Proclaim software system is in use by 12,000 professionals dealing with a vast range of work areas. Eclipse’s flagship product, Proclaim, is in use at over 500 organisations, representing some 13,000 individuals. The company has experienced a surge of expansion […]
E.surv reports lowest levels of mortgage approvals in 18 months
The number of mortgages approved to buy homes in October (46,507) shrank to the lowest level since May 2009 on a seasonally adjusted basis, down 18% compared to October 2009, and down 2% compared to September 2010 according to e.surv. Remortgage volumes are higher than a year ago (up 7.7%) but remain close to historic […]
Bank of England's September lending data
The flow of net mortgage lending by all UK-resident mortgage lenders increased in August to £1.7 billion, though the annual rate of growth in the stock of lending was stable at 1.0%. According to data from the major UK lenders, net mortgage lending flows fell in September as total gross lending remained broadly unchanged but […]
Search provider MDA Searchflow announces sale by parent
MDA the Canadian business providing satellite technology to conveyancing search data announced on Friday that it had agreed terms to sell its UK and North American Information Products division to TPG Capital for net cash proceeds of Can$850M. The UK brands included are MDA Searchflow Ltd, MDA Hub ltd, xit2 limited, Rochford Brady Group and […]
Rightmove survey shows first time buyers coming back into market
Rightmove’s Consumer Confidence Survey for October shows that 26% of people of who intend to buy a property in the next year will be doing so for the first time, up from 22% in July. The survey also finds that the number of first-time buyers expecting prices to drop over the next year has jumped […]
Homeowners cut house prices in run up to Christmas
New research out today Thursday 4th November from the leading property search website Zoopla.co.uk shows that the number of properties for sale in the UK that have had their asking price reduced at least once since coming to the market has climbed by more than 13% over the past three months, up from 32.2% in […]
Equity release looking forward to a growth in popularity
Friends Provident has commissioned a report from research house, the Future Foundation regarding attitudes towards retirement funding. Only 6% of respondents are considering equity release, however, experts believe it will become more common by 2020. Conveyancers may wish to think about how much they know about equity release and whether it is a sector they […]
Buyers confused about purpose of surveys
Homebuyers in England and Wales are facing bills for thousands of pounds by failing to have a sufficient survey of their property before purchase, according to new research from RICS. This is unlikely to come as any surprise to conveyancers. The report indicates that Home surveys help buyers make informed decisions as to whether to […]
