TOP 100 ENGLAND SITES
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| France warns citizens: 'terror attack in Britain highly likely' France issued the warning to citizens travelling to Britain. telegraph.co.uk |
Grand designs for 50p coin New 50 pence coins commemorating the London 2012 Olympic and Paralympic Games have been launched. bbc.co.uk |
Sheridan witness 'conscious liar' Tommy Sheridan accuses a former colleague who claimed she had a sexual relationship with him of being a "conscious liar". bbc.co.uk |
Home mortgage lending hits a 10-year low in September Mortgage lenders report the worst monthly net lending since 2000, with one economist saying the current housing market 'has very little going for it'Mortgage lending plummeted to its lowest level for a decade in September and mortgage approvals for house purchases sank to an 18-month low, according to figures released by the British Bankers' Association (BBA).Net lending, which does not include redemptions and repayments, was £1.6bn in September, down from £2.5bn in August and the lowest figure since October 2000, a result of banks encouraging customers to pay down their mortgages.The number of mortgages approved for house purchases dropped to 31,104 during the month, down on August's 31,781 and a peak of 45,498 last December – and the lowest since March last year.Gross mortgage lending also fell to £8bn during the month – 11% down on September last year, the lowest level since May 2009 and well below the six-month average of £2.2bn.BBA statistics director, David Dooks, said: "Subdued mortgage activity and little demand for unsecured credit are a reflection of household uncertainties. Demand for new mortgages remains low despite more properties on the market and falling house prices."Last week the Council of Mortgage Lenders said mortgage lending slumped to its lowest level in a decade in September.Howard Archer, chief UK and European economist at IHS Global Insight, said the data showing mortgage approvals sinking to an 18-month low in September puts further downward pressure on house prices. "It reinforces our belief that house prices will trend down over the final months of 2010 and in 2011 to lose around 10% in value."In our view, the housing market has got very little going for it at the moment, apart from low mortgage rates - and that is if you can get a mortgage."Archer added that a poor combination of factors was affecting house prices, including: high (and rising) unemployment, muted wage growth, an increasing fiscal squeeze, low and deteriorating consumer confidence, difficulties in getting a mortgage (particularly for first-time buyers) and a housing supply/demand balance in favour of buyers."Low interest rates and the current stamp-duty holiday for first-time buyers on all properties costing up to £250,000 only partially offset these adverse factors," he said.The BBA also revealed that credit card lending rose by £246m in September, offset by net repayments of £223m in personal loans and overdrafts – a sign of the ongoing desire for consumers to reduce their debts.House pricesPropertyHousing marketReal estateMark Kingguardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds guardian.co.uk |
Two swine flu cases are confirmed Two cases of swine flu have been confirmed in Northern Ireland, the Public Health Agency (PHA) has said. bbc.co.uk |