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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`

Mortgage approvals `hit by continued market uncertainty`

30/09/2008

The number of home loans being approved in the UK remains low as a result of the ongoing uncertainty surrounding house prices.

This is according to the Building Societies Association (BSA), which suggested that over 50 per cent of people recently questioned stated that the prospect of future house price falls is acting as a barrier to investing in property.

Land Registry figures cited by the association reveal that homes in England and Wales fell in value by 4.6 per cent last month, potentially suppressing mortgage demand.

It was also found that house prices in London fell by 3.2 per cent in August.

Commenting on the market, BSA business economist Andrew Gall said: "Activity in the housing market remains depressed, so, although the figures for both net approvals and net lending are better than for last month, they still remain low."

Meanwhile, BSA figures suggest that building society gross lending in August of this year stood at £2,770 million, compared with £4,770 million over the same month in 2007.

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