Bridging loan applications rise 17% to £6.1bn in Q3 Bridging loan applications totalled £6.1bn in the third quarter, up nearly 17% compared with the same period last year, according to the Association of Short Term Lenders (ASTL). Year-on-year annual applications reached nearly £23bn, and bridging loan books totalled £4.3bn at the end of the quarter,
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In recent years, as a result of Brexit, it has proved very difficult to escape politics. With an election looming, it’ll be impossible. From now on, we will be bombarded by politicians’ promises about how they are going to improve Britain’s ‘broken’ housing market. Some of the ideas will be sensible, others will be terrifyingly
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Confidence grows amongst UK bridging lenders Research by the Association of Short Term Lenders (ASTL) has found that bridging lenders have grown in confidence about the outlook for the UK economy, their own business and the bridging sector. The study, which was carried out shortly after the date was confirmed for the forthcoming General Election,
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Cheap mortgages, a resilient economy, Brexit fatigue and an endless round of extensions have enabled the housing market to weather the storm created by the referendum far better than most commentators had predicted. And, as we reported last month, there have even been times when the market has performed above the levels of previous years.
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The former Prime Minister Theresa May announced in June 2019 several aims concerning the government’s plan for affordable homes. As part of these plans, May outlined a rise of new design standards to ensure the production of high-quality homes for the long-term. Bundled with guarantees for improved tenant’s rights, May’s new standards hoped to balance
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Even though we are now moving into one of the quieter periods of the year, there have been some interesting developments in the sales market. The latest data from NAEA Propertymark (National Association of Estate Agents) suggests the market may be shrugging off Brexit worries and is bouncing back. According to their figures, the number
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House price growth slowed to 0.6% in May, the sixth month in a row that annual house price growth was below 1%. Month on month, sold prices were down 0.2% (source: Nationwide), although, looking further forward, according to Rightmove, asking prices were up 0.9%. Overall, the market continues to be subdued, although there are some
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Brexit is beginning to resemble Groundhog Day, the same arguments going round and round with no sign of a resolution or any kind of compromise that might break the cycle. There is, however, evidence that house buyers are increasingly fed up with the ongoing uncertainty and getting on with their house moves, especially now that
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Yet again, this month, it’s all about Brexit. Fortunately, the fundamentals behind both the economy and the housing market remain strong, but it is having an effect. Confidence is down and activity is somewhat subdued for this time of year. Prices are still rising, though – up 0.7% in February (source: Nationwide). Robert Gardner, Nationwide’s
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Asking prices rose by 0.7% in February, the market picking up as spring approaches. However, there is no doubt Brexit uncertainty continues to act as a drag on prices. Annual growth remains subdued at 0.2% and there was a 4% fall in transaction volumes in January when compared to the previous year (source: Rightmove). Nationwide’s
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