Is mortgage lending slowing down? by Finance News Bulletin

Published: 07/12/07

The latter part of 2006 saying mortgage lending figures shoot through the roof in the UK, and in November mortgage lending peaked according to the British Bankers' friendshipHowever, officials from the association have now revealed that the mortgage market could be slowing down and moderating, as for the past three months the rises in mortgage lending each month have been less than in the previous month In February mortgage lending through banks rose by £52 billion, compared to a go up of £5

4 billion in JanuaryThe Building Societies Association has lately reported the highest February mortgage endorsement figures on record, with almost five million pounds in mortgage approvals However, the Director General of the Building Societies Association supposed that this does not mean that mortgage borrowing is not slowing downHe said: "These are strong figures, but we may be seeing the peak of the market

The recent speed rises are still to work through fully into the mortgage market "Therefore, mortgage lending figures might become a small more subdued as the year progresses"In relation to the banking approval information, the Director of Statistics for the British Bankers' Association, David Dooks, affirmed: 'Since lst November, when mortgage lending peaked, we have seen three successive months of mortgage lending increasing by less than in the previous month, suggestive of a moderating demand in the marketplace'According to the results of these combined figures from the British Bankers' Association and the structure Societies Association, which were collated by the Council for Mortgage Lenders, mortgage lending for February 2007 was up by nine percent compared to February 2006, but down by seven percent compared to January 2007It is though that the several interest rate rises that have been compulsory by the Bank of England since last August, plus the worry of forthcoming extra rises, could soon start to impact the mortgage market

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It’s simple to say “go and research the market place to find the cheapest mortgage”, but is it that easy to actually do it and how do you know that you have actually got the best mortgage deal when you’ve finishedEarly Redemption Penalties - Loan Extras - money owing Consolidation Bad praise - Choosing a Personal Loan - Loan Penalties

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