Lenders say there has been a slight increase in the availability of secured credit to households in the second quarter of this year, the first positive sign since the third quarter of 2007. This is according to the Bank of England’s Credit Conditions Survey.
From today, 1 July 2009, the interim regulation for firms operating in sale and rent back (SRB) begins.
Members of the Legal & General Mortgage Club have voted overwhelmingly against the use of dual pricing by mortgage lenders.
According to Fitch Ratings, 15% of mortgage loans by value in UK prime RMBS (residential mortgage-backed securities) master trust programmes are in negative equity.
Gross mortgage lending totalled an estimated £10.3 billion in May, a 2% decline from the £10.5 billion in April and down 58% from May 2008, according to new data from the Council of Mortgage Lenders.
Asking prices throughout the UK fell by 0.13% in May after two successive months of rising prices, according to Primelocation.com.
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