23 Nov '12, 10am

UK home loans pick up #PR

Overall mortgage lending in the UK grew by four percent to £12.9 billion (S$25.22 billion) in October compared to the same period last year, an indication that the Funding for Lending Scheme (FLS) from the Bank of England is effective. The figures from the Council of Mortgage Lenders (CML) show that home loans climbed to an 11-month high, reflecting a rebound from the summer lull. At the same time, gross lending for October was higher than September’s £11.4 billion (S$22.28 billion). The central bank and Treasury launched the £80 billion (S$156.39 billion) scheme in August to boost lending to households and businesses. While it has increased the number of loans on the market, those who benefited were mainly borrowers with larger deposits. “House purchase and remortgage activity both appear to have picked up, and this should be supported by an improvement in the availabilit...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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