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Lenders expect weak mortgage demand to continue

The Bank of England’s Trends in Lending report shows the top UK lenders expect demand for mortgages to remain weak in the coming months.

Its first lending survey compiles data from Banco Santander, Barclays, HSBC, Lloyds Banking Group, Nationwide and Royal Bank of Scotland.

They attribute a fall in demand for house purchase as a reason for weaker mortgage lending because of factors such as house price falls and fears of unemployment.

But the figures do show applications for mortgages were up by around £20,000 in March 2009 compared with December 2008.

The lenders says this largely reflects seasonal factors and changes in mortgage product ranges, rather than a significant pickup in underlying demand.


Chancellor will need a magic moment

This week’s Budget will more closely resemble a performance by magician Paul Daniels than a speech by Vilfredo Pareto or Arthur Cecil Pigou, both influential economists. With little if any cash at his disposal chancellor Alistair Darling’s second Budget is likely to produce more smoke and mirrors than anything of substance for taxpayers, let alone the mortgage market.

Lenders sign up to Homeowner Mortgage Support Scheme

Housing minister Margaret Beckett has announced that a support scheme to help struggling home owners remain in their homes begins today.The Homeowners Mortgage Support scheme allows eligible borrowers suffering a temporary loss of income to defer their mortgage interest payments for up to two years.To qualify borrowers must have bought their home before December 1 […]

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White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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