Home > News > Mortgage and Remortgage

Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Remortgaging `on the rise`

09/09/2008

The number of home loans issued to those remortgaging their properties rose in July, according to new figures.

Statistics released by the Council of Mortgage Lenders (CML) show that 85,000 remortgage loans equivalent to a value of £11.9 billion were approved in July.

This represented a 14 per cent volume increase compared with June, as well as a 16 per cent rise in value.

However, first-time buyers continued to struggle to find a mortgage, with approvals for this group falling by 48 per cent compared with July 2007.

In addition, overall home loan approvals dropped by 51 per cent in volume and 54 per cent in value compared with the same month last year.

"Tighter lending criteria have clearly made it more difficult for first-time buyers to enter the market," commented Michael Coogan, director-general of the CML.

Meanwhile, those interested in remortgaging may like to know that HSBC has lowered rates on all of its fixed-rate mortgages.

Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according Rising household costs could pressure people in debt 10/08/2010 - The UK may be about to see a rise in