View more on these topics

Gross mortgage lending static at £16.6bn in August

The Council of Mortgage Lenders’ latest figures show gross mortgage lending was static in August at £16.7bn, up fractionally from July’s £16.6bn.

But year-on-year the monthly tally is 28 per cent higher than the £13bn in lending in August last year.

The trade body’s chief economist Bob Parnell says one sign that the UK’s housing market is recovering is the re-emergence of concerns about a housing boom.

But he says the housing market recovery to date appears ”fairly unexceptional in nature” when compared with the early to mid 1990s.

He says: ”We are beginning to experience a healthy and broad-based recovery in mortgage lending activity.

“We attribute much of this turnaround to the improvement in funding markets generally, and also to the Funding for Lending Scheme.

”The Bank of England’s approvals data suggests that the positive tone for house purchase and remortgage lending will continue.”

Edinburgh Mortgage Advice director Mark Dyason says that while August was similar to July it should not be taken a lack of momentum, with the average mortgage broker exceptionally busy and demand rampant.

He says: ”The mortgage market is much improved relative to a year ago — the 28 per cent increase compared to last August drives that home — but volumes are still not at normal historical levels. There is a lot of headroom yet.”



Scot Prov adds over 100 roles to own occupation definition in IP revamp

Scottish Provident has added over 100 occupations to its list of jobs that qualify for income protection on an own occupation basis. The provider launched an enhanced policy yesterday which offers an own occupation definition to a wider range of occupations, including surgeons, dentists and driving instructors, all of which would not previously have been […]


Media Spotlight: Rich Dad Poor Dad by Robert Kiyosaki

Financial education has finally been recognised as something that should be taught in schools with the Government announcing that it will be in the national curriculum from 2014. The big question remains whether it will actually be taught seriously as a subject and in such a way that future generations genuinely are better equipped to […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.

Frexit & contagion risk in Europe

Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]


News and expert analysis straight to your inbox

Sign up