View more on these topics

Rate rises start to slow down lending levels

The Council of Mortgage Lenders says the mortgage market is likely to slow in the coming months due to the effect of interest rate rises.

It says while lending volumes continue to look buoyant, they are below the peaks seen in the second half of last year and are starting to level off.

Economist Paul Samter says there has been a rise in remortgage approvals in the first quarter but house price growth and the number of site visitors at new homes has slowed over the same period.

He says the vast majority of first-time buyers are in no imminent risk of falling into arrears following the two rate rises since last August as 80 per cent took out fixed rates. But Samter warns buyers who took out similar deals two or three years ago do now face the prospect of refinancing at higher rates than they initially took out the loan.

London’s mortgage market has been particularly strong, with lending values and volumes rising more than anywhere else over the last year. He says this is in part driven by the success of the financial sector.

Samter says: “We continue to expect house prices to rise by 7 per cent this year, a slight slowdown from 2006, and gross lending to increase to £360bn from £345bn last year.”


This must be true…

It’s looky-likey time again. The Claims Standards Council’s Andy Wigmore (of Wigmore Street) is pushing Through the Barricades masquerading as none other than the ‘Gold’-en Spandau Ballet star Martin Kemp. It’s True, we tell you.

Means to an end?

Sam Shaw finds opinion divided on The Money Portal’s move to help advisers transfer from up-front to fund-based commission.

Hay is our sole mate

We originally began negotiations with the James Hay (formerly Abbey) wrap in September 2003.As a result, we undertook a detailed review of wraps and fund supermarkets over the following two years. This process culminated in Cavanagh Group deciding to use James Hay as our sole wrap partner.The question why we selected James Hay could be […]

GE Life rebrands as Tomorrow

GE Life and GE Pensions has rebranded as Tomorrow following Swiss Re’s takeover of the life office last October.

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm