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New CML review of Welsh housing market

More than 72% of households in Wales are homeowners compared to a UK average of only 69%, according to an article outlining housing statistics and policy published in the CML&#39s annual National Markets Review.

Yet house prices remain more affordable than in many parts of the UK, with houses costing on average only around 70% of the UK figure.

Around 5% of all mortgages in the UK are in Wales, but they account for only 4% of the total value of mortgage lending in the UK. This is largely because of the lower price of houses compared to the UK average. There are 574,000 mortgages in Wales, with an average value of £42,700 each.

Ian Smith, chairman of CML Cymru, says: “Policymakers in Wales need to wake up to the importance of homeownership. The Assembly and local authorities have tended to get bogged down with social housing issues to the detriment of the private sector. But as this report shows, it is home-ownership which is delivering the majority of housing solutions in Wales.”


New CML review of the Northern Ireland housing market

Northern Ireland continues to have the highest proportion of homeowners in the UK at over 72%, according to the 2002-2003 edition of the Council of Mortgage Lenders&#39 National Markets Review. However, the overall size of the Northern Ireland market is small compared to the UK as a whole. Just 3% of all mortgages in the […]

Intermediaries to receive leads from Guardian site

Professional Adviser Alliance to receive potential leads from 450,000 Money Unlimited visitors – has reached an agreement with The Guardian&#39s website Guardian Unlimited to provide mortgage, credit card and loan channels on the site&#39s money section, Money Unlimited. The Guardian&#39s website receives 4,800,000 visits a month, with 450,000 visits a month to Money Unlimited, […]

Savills Private Finance offers exclusive two-year discount mortgage

Savills Private Finance has launched an exclusive discounted mortgage. The two-year discount will be offered at an initial pay rate of 3.55%, a discount of 2.4% on the lender&#39s standard variable rate (SVR), which is currently 5.95%. There are no redemption penalties at the end of the two-year period. The minimum loan amount is £100,000 […]

Roy Nicolson takes over as chairman at IFAP

IFA Promotion, the organisation promoting the benefits of independent financial advice, has announced that its chairman, Kevin McBrien, will be stepping down at the November IFAP board meeting due to other pressures on his time. Roy Nicolson, chairman of Advice First, will take over on an interim basis and will co-ordinate the appointment of a […]


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