UK: FALL IN MORTGAGE LENDING
Article Abstract:
Mortgage lending in the UK has fallen by 16% to GB[pound] 3.89bn in July 2000, the lowest level for seven months according to the British Bankers' Association (BBA). The average size of a loan also fell by GB[pound] 1,000 to GB[pound] 66,400. The figures highlight further the cooling of the housing market, despite the number of people cashing in the gains made on the rising value of their homes. However, the number of people using a mortgage to buy a property to rent out rose to a new high in the first six months of 2000, with a total of GB[pound] 1.6bn being lent to 19,300 investors during the period.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: ENDOWMENT PROVIDERS BOYCOTT LEAGUE RATINGS
Article Abstract:
18 out of 54 endowment providers including Allied Dunbar, NPI and Eagle Star have refused to take part in an annual survey of sector performance by the trade money magazine Money Marketing. However, the Financial Services Authority says that its will publish comparative tables in 2001 and that if companies refuse to co-operate, they may be forced to by law. As many as 3mn endowment policyholders may not be able to pay of their mortgages as their endowment policies will not have yielded sufficient funds.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: FALL IN NUMBER OF HOME REPOSSESSIONS
Article Abstract:
According to the Council of Mortgage Lenders, the number of UK properties repossessed by mortgage lenders during the first half of 2000 fell by almost 25% on the year earlier period, to 12,340. The figure was the lowest since 1989.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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