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BBA paints bleak March picture

The British Bankers’ Association says new mortgage approvals for house purchases fell 18% in March compared with February.

BBA figures published last week show there were 35,417 new mortgages approved last month, a 46% fall compared with March 2007 and the lowest monthly figure since September 1997.

The total value of mortgages approved for house purchases was 44% lower than in March last year. The BBA adds that all forms of lending are being restricted by the credit crunch.

David Dooks, statistics director for the BBA, says: “The consequences of low liquidity can be seen clearly. Reduced product ranges and tighter criteria have led to slower mortgage lend- ing and fewer approvals.

“Pressures on personal finances are constraining demand not only for mortgages but loans and credit cards too.”


Rightmove sounds warning over house prices

Rightmove is warning there could be an overcorrection in house prices if confidence between lenders does not improve.The website’s house price index re-leased last week shows that the average asking price fell 3.7% between March and April, while the average unsold stock held by estate agents rose from 67 to 70 properties.Rightmove says the correction […]


Hanging onto the ladder for dear life

The latest news from housing charity Shelter says the boom in house prices since 1998 means many first-time buyers have been unable to get on the property ladder. I didn’t see that coming.

Dear Delia

Dave is an experienced buy-to-let investor who sees opportunities in the current market to grow his portfolio. He has agreed to buy a discounted property in a private sale and the vendor wishes to complete as quickly as possible. The agreed purchase price is £200,000 but the property’s true value is £235,000, which he knows valuers will confirm. How can he maximise his borrowing and save his cash for further purchases? Delia says: A bridging loan may be the solution as Stuart Law of Assetz Finance and Steven Marks of Newcastle point out. Have you got a problem for Delia? Email

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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