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April lending figure lowest since 2001

Net mortgage lending was just £1.8bn in April, down from £2.3bn in March and the lowest since February 2001, figures from the British Bankers’ Association show.

Gross mortgage lending of £8.2bn in April was lower than both March and the average in the previous six months – £9.1bn.

Repayments were stronger than usual as banks encouraged bor-rowers to use surplus cash to reduce their borrowing.

David Dooks, statistics director at the BBA, says: “Household priorities are clearly reflected in the latest figures, with individuals paying down their debt rather than building up savings, even in the traditional ISA season.

“Meanwhile, uncertainty about the impact of the government’s economic policies on households and businesses will continue to dent consumer confidence and influence decision-making.”


OFT examines barriers to entering lending market

The Office of Fair Trading is to look at how easy it is for new players to enter the lending market as it aims to boost competition in the banking sector. The OFT has called for evidence from established providers, new entrants and potential new entrants on the barriers to setting up a retail bank. […]

lending strategy round table

Slim pickings for pessimists

Lending Strategy recently hosted an HML-sponsored round table on arrears and repossessions which provided little comfort for doom-mongers, although there were warnings about pitfalls that must be avoided


Leader: Still standing, still needed

The news last week that the number of mortgage brokers has shrunk to a new low of 12,500 is further evidence of the high price the market has paid during the credit crunch. It wasn’t long ago that there was talk of there being some 30,000 intermediaries in the market. OK, this figure was anecdotal […]

Lloyds and RBS are doing well, says ratings agency

Standard & Poor’s says it is en-couraged by the progress made by Lloyds Banking Group and the Royal Bank of Scotland on their recovery plans, despite shares in the two banks falling almost 6% last Tuesday. The ratings agency has affirmed the credit ratings for the two state-backed banks and awarded them a stable outlook. […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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