UK Mortgage lending trends – May 2015

Category: Housing & Mortgages & Uncategorized

The Council of Mortgage Lenders’ (CML) latest figures for mortgage lending (May 2015) show that whilst lending levels recovered in May compared to April, they were down compared to a year ago. First-time buyers saw a decline in lending volumes, 13% down, compared to last year, but up slightly (3%) on the previous month, with total May loans estimated to be around £3.4 billion.

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The new mortgage lending rules are coming

Category: Mortgages & Uncategorized

As of 26 April 2014, lenders will be required to advance mortgages to their customers under new rules coming into effect as a result of the Mortgage Market Review (MMR). The rules, which introduce at least five key changes for borrowers, are being introduced to reinforce consumer protection. They will be overseen by the industry regulator, the Financial Conduct Authority (FCA), and apply across the whole industry.

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