UK mortgage lending rises in July for 2nd straight monthSeptember 14th, 2009 UK mortgage lending rises in JulyLONDON — U.K. mortgage lending rose significantly in July for the second straight month but the market is likely to remain subdued for some time, the Council of Mortgage Lenders said Monday.
Prudential Mortgage closes $100M client loan for retail propertiesAugust 27th, 2009 Prudential Mortgage closes $100M loanNEWARK, N.J. — Prudential Mortgage Capital Co.
Summary Box: Fed extends program intended to boost consumer and business lendingAugust 18th, 2009 Summary Box: Fed extends lending programWHAT HAPPENED?: The Federal Reserve said it's extending a program that was due to end Dec. 31. The major part of the program, aimed at boosting consumer and business lending, will now run through March 31.
UK mortgage lending up 23 percent in June, sign housing market is stabilizingAugust 11th, 2009 UK mortgage lending risesLONDON — Britain's housing market is slowly stabilizing, though activity is still low compared to previous years due to the recession, industry bodies said Tuesday. The Council of Mortgage Lenders said gross mortgage lending in the United Kingdom rose by 23 percent in June compared to the previous month but still lagged at about half of year-ago levels.
Report: UK house prices rose 1.3 percent in July, may finish higher for the full yearJuly 30th, 2009 Report: UK house prices up 1.3 pct in JulyLONDON — House prices in the United Kingdom rose by 1.3 percent in July, and may finish the year with a slight gain, a major mortgage lender said Thursday. The Nationwide Building Society, the nation's third-largest mortgage lender, said July's gain left the average price 6.2 percent lower than a year ago, at 158,871 pounds ($261,200).
Bank of England says growth in lending to individuals slows in JuneJuly 29th, 2009 UK lending growth slows in JuneLONDON — Net lending to individuals in the United Kingdom rose by 400 million pounds ($655 million), a drop of 100 million pounds from the six-month average, the Bank of England said Wednesday. Net mortgage lending rose by 300 million pounds, the same as in May but only a third of the April gain and consumer credit rose by 100 million pounds.
Bank of England says mortgage approvals hit 14-month high in June, though lending growth slowsJuly 29th, 2009 UK mortgage approvals at 14-month high in JuneLONDON — The number of mortgages approved for house purchase in the U.K. hit a 14-month high in June, Bank of England figures showed Wednesday, suggesting the property market is recovering despite still weak lending activity.
UK retail sales up 2.9 pct in June, banks' mortgage lending rises 8 pctJuly 23rd, 2009 UK retail sales, mortgage lending rise in JuneLONDON — Retail sales in the United Kingdom rose 2.9 percent in June compared to a year earlier and mortgage lending rose by 8 percent in the month as summer weather smiled on a struggling economy, official reports said Thursday. The upbeat reports contrast with rising unemployment, which now stands at 7.6 percent and is expected to rise for some time.
Report: UK gross mortgage lending rises 17 percent in June from MayJuly 20th, 2009 UK mortgage lending up 17 pct in JuneLONDON — Gross mortgage lending in the United Kingdom rose by 17 percent in June compared to the previous month but still lagged at about half of year-ago levels, the Council of Mortgage Lenders said Monday. The figure was echoed by the Bank of England, which reported that the availability of mortgage finance had improved slightly in the second quarter, the first gain since the second quarter of 2007.
Bank of England says mortgage repayment accelerates in 1Q, draining money from consumptionJuly 3rd, 2009 Repayment of UK mortgage debt accelerates in 1QLONDON — U.K. homeowners paid down mortgage debt in the first quarter at the fastest rate in a year, shrinking the pool of money available for retail spending, the Bank of England said Friday.
Bank of England says positive economic signs, financial watchdog warns against complacencyJune 23rd, 2009 Bank of England sees early positive economic signsLONDON — A Bank of England policymaker said Tuesday that early signs from the bank's program to boost lending are positive, while the head of the country's financial watchdog warned that an early economic recovery could undermine efforts to prevent a repeat of the current crisis. As a report on mortgage lending showed housing market activity remains sluggish, central bank chief economist Spencer Dale said it was too early to judge the effectiveness of its so-called quantitative easing program, but that early signs are positive.
UK retail sales, mortgage lending fall in May as public borrowing hits recordJune 18th, 2009 UK retail sales, mortgage data hurt recovery hopesLONDON — Retail sales and mortgage lending in Britain dropped in May, dampening hopes that an economic recovery is under way, while government borrowing hit a record high due to the cost of massive stimulus measures, official data showed Thursday. Retail sales fell 0.6 percent between April and May as clothing and footwear sales slumped by 1.9 percent, the Office for National Statistics (ONS) said.
EU to widen probe into Britain's plan to split Northern Rock into 'good' and 'bad' bankMay 8th, 2009 EU widens probe into Northern Rock rescue planBRUSSELS — EU regulators on Thursday widened a probe into Britain's rescue and nationalization of mortgage lender Northern Rock to check whether it was legal to split it into a 'good' and 'bad' bank. Britain wants to hive off the bank's past housing loans into a separate, so-called 'bad' bank that would allow the rest of the business to survive without having to bear the burden of huge potential losses.
BofA drops Countrywide name, rebrands mortgage operations as Bank of America Home LoansApril 27th, 2009 Bank of America rebrands mortgage operationsNEW YORK — Bank of America Corp. has officially dropped the Countrywide Home Loans name as part of its integration of the mortgage lender, which was acquired last year.
Jacqui Smith faces new grilling for barbecue and garden patio setApril 6th, 2009 LONDON - British Home Secretary Jacqui Smith is once again in the news after she claimed 200 pounds in expenses to buy a barbecue and garden patio set. Smith, 46, who earns 142,000 pounds a year, also billed taxpayers for 335 pounds worth of plant pots.
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