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Gross lending in November drops 13.5% year-on-year

Gross mortgage lending in November was 13.5 per cent down on a year ago, according to the British Bankers’ Association.

Gross lending reached £7.8bn while net lending increased by £1.5bn compared to £3.4bn in the same month in 2009.

Total mortgage approvals reached 74,306, up from 73,475 in October.

House purchase approvals reached 29,991, down marginally on the 30,689 purchase approvals in October.

The average value of house purchase approvals – £145,000 – was 1.9 per cent higher than a year ago, when it reached £142,200.

The trade body says the number of remortgage approvals in November were stronger than the recent six-month average as an increased number of borrowers switched lenders when rolling over fixed rate loans. Remortgage approvals stood at 27,045, up on the six-month average of 23,345.



Providers hand out £40m in MPPI refunds

Providers of mortgage payment protection insurance have refunded a total of around £40m to consumers as part of redress measures agreed with the FSA last year. The FSA entered into an agreement with MPPI firms in October 2009 after the regulator raised concerns about the fairness of contract terms which allowed increases in premiums and […]


Mortgage Brain set to acquire TrigoldCrystal

Mortgage Brain has agreed terms to acquire TrigoldCrystal in a deal which could total £9.9m. A default offer of £6.8m has been made or an alternate offer of cash, loan notes and shares totalling around £9.9m. The TrigoldCrystal board has agreed unanimously and it will now be put to shareholders. It is expected the deal […]

Gartmore confirms takeover talks with Henderson

Gartmore and Henderson have confirmed they have entered into negotiations about a conditional offer by Henderson to acquire the entire share capital of the company. A statement from Henderson says: “Following Gartmore Group Limited’s (Gartmore) announcement today, Henderson Group confirms that it is in discussions regarding a potential acquisition of Gartmore. Henderson’s proposal is conditional. […]


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