News
Lending commitments rise.
Sep 14, 2011
Mortgage providers have committed to lending £40 billion in the coming months, some 13% more than the amount agreed in the first quarter of 2011, according to the Financial Services Authority.
The latest data relating to the second quarter of the year also showed that new advances during the period totalled £37 billion, 11% higher than in the first quarter.
Lending in relation to house purchase increased over the quarter, but remortgage business reduced. Although the proportion of new lending made at a loan-to-value of more than 90% rose slightly, it still remained below 2%. Meanwhile, the proportion of the residential loan book in arrears continued to fall and at 2.81% is the lowest proportion for three years.
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Select Mortgages Solutions,
Regents Pavillion,
4 Summerhouse Road,
Northampton,
NN3 6BJ
Tel: 0845 22 42 162
Email: info@selectms.co.uk
SOL 504
Select Mortgage Solutions is an appointed representative of Stonebridge Mortgage Solutions Limited which is authorised and regulated by the Financial Services Authority.
Regents Pavillion,
4 Summerhouse Road,
Northampton,
NN3 6BJ
Tel: 0845 22 42 162
Email: info@selectms.co.uk
SOL 504
Select Mortgage Solutions is an appointed representative of Stonebridge Mortgage Solutions Limited which is authorised and regulated by the Financial Services Authority.
