CML: Is the UK mortgage market really open for business?
Tuesday, 22 January 2013
In the first issue of CML News & Views this year, we pose a fundamental question: Is the UK mortgage market really open for business? We look at 10 different indicators of activity – across a wide range of measures, including transactions, first-time buyer access and mortgage availability. We conclude that all these indicators show that the shutters really are coming up.
Our second article looks at what is needed to make longer-term tenancies more widely available for tenants. Lenders are receptive to the arguments put forward by tenant groups and politicians – although many of those in the rented sector continue to value the flexibility of shorter-term agreements. We conclude that progress depends on acknowledging, and responding to, the interests of tenants, landlords and lenders.
We also look at the impact of the Green Deal. The initiative finally gets the green light next week, and we look at what it means for lenders and home-owners.
To see all the stories in full, go to the latest issue of CML News & Views.
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Here's the chancellor's Mansion House address, in which he announces details of new measures to boost the liquidity of Britain's banks and inject money into the 'real economy, in full:
Britain's struggling small businesses will be able to secure cheaper bank lending as a result of the government's credit easing initiative unveiled today - but business leaders are warning it is not a "panacea" to the UK's bank lending problem.
Bank lending could be increased by as much as £80 billion under a bold new 'funding for lending' scheme unveiled by George Osborne and Mervyn King last night.
The Treasury plans to lend money to small-and-medium sized businesses, after three years of failure in the banking sector.
Alistair Darling is set to discuss the burden on homeowners caused by the credit crunch with some of Britain's biggest mortgage lenders today.
Northern Rock is set to resume lending with up to £14 billion in new mortgages by 2011, the government has announced.
Mortgage lending hits record high
Mortgage possession claims in Britain have jumped upwards, figures from the Ministry of Justice (MoJ) show.
The IMF has warned of an "abrupt correction" in UK housing market.
Confidence returning to housing market