UK Mortgage Lending Dips

October 22, 2004, 2:00 p.m. EDT 1 Min Read

Recently compiled monthly figures show a slight decline in mortgage lending in the United Kingdom that represents the first year-over-year decrease in four years.Gross U.K. mortgage lending in September dropped to £25.4 billion (approximately $46.4 billion) from £25.9 billion (approximately $47.3 billion) a year ago, according to the Council of Mortgage Lenders. CML director general Michael Coogan said the data offer evidence that the U.K. market is slowing as expected. The CML can be found online at http://www.cml.org.uk.

For reprint and licensing requests for this article, click here.

TRENDING

Fraud

Mortgage fraud attempts surge by more than one-third

While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.

By Spencer Lee

58m ago
Housing markets

U.S. economy slows and inflation jumps, damping soft-landing hopes

U.S. economic growth slid to an almost two-year low last quarter while inflation jumped to uncomfortable levels, interrupting a run of strong demand and muted price pressures.

By Molly Smith

1h ago
Earnings

PennyMac touts broker channel gains as earnings rebound

The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.

By Andrew Martinez

April 24

MORE FROM NATIONAL MORTGAGE NEWS

Fraud

Mortgage fraud attempts surge by more than one-third

While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.

By Spencer Lee

58m ago
Earnings

PennyMac touts broker channel gains as earnings rebound

The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.

By Andrew Martinez

April 24
Servicing

CFPB offers specifics on servicing fees subject to crackdown

The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.

By Bonnie Sinnock

April 24
Technology

Figure Technology Solutions taps former SoFi exec as CEO

Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.

By Maria Volkova

April 24
Election 2024

Which party has the edge on housing? Polls say neither

A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.

By Spencer Lee

April 24
Earnings

Mr. Cooper's profits triple as servicing's fortunes improve

The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.

By Bonnie Sinnock

April 24