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Mortgage borrowing and purchase approvals down in November: BBA

Both gross mortgage borrowing and house purchase approvals were down in the year to November, according to the latest bank lending figures.

A report from the British Bankers Association found that gross mortgage borrowing in November 2016 was £12.2bn, 5 per cent lower than in the same month last year.

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Meanwhile, house purchase approval numbers were 9 per cent lower than in November 2015 and were 4 per cent lower in the first eleven months of 2016 than in the same period last year.

However, remortgaging approvals were 14 per cent higher than those in November 2015 and in the first eleven months of 2016 were 13 per cent higher than in the equivalent period of 2015.

BBA chief economist Rebecca Harding says: “The reduction in interest rates in August may have boosted remortgaging approvals, with consumers looking to take advantage of the current economic conditions and lock-in lower interest rates.”


Mortgage borrowing down 4% in year to October, says BBA

Gross mortgage borrowing reached £12.2bn in October, 4 per cent lower than the same month last year, according to the latest British Banker’s Association figures. House purchase approvals were also down, falling 10 per cent in the year to October 2016. Remortgage approvals were simililar to those in October last year but were 13 per […]


Mortgage lending down in September but purchase approvals up, says BBA

Gross mortgage borrowing fell 2 per cent in the year to September 2015, while house purchase approvals dropped 15 per cent in the year, according to the British Bankers’ Association. In September, gross borrowing was £12bn, down from the £12.4bn figure reported by the BBA for August. However, the Association said its members approved 38,252 […]


Approvals down 21 per cent in August: BBA

House purchase approvals fell 21 per cent in August year-on-year to 36,997, according to the British Bankers’ Association. The first eight months of 2016 also saw house purchases fall 2 per cent compared to the same period the year before. Gross mortgage borrowing of £12.4bn in August was 1 per cent higher than in August […]

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Defined benefit schemes: Part 2

Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]


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