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Financial Services > Mortgages > Mortgages News
House prices to stay flat for 2010

Fri, 23 Apr 2010

The recent Trends In Lending report by the Bank of England found that the main lenders in the UK expect house prices to remain mostly flat for the year, with mortgage lending rising slightly.

Most lenders said that the amount of new mortgage lending made available to households remained stable during the first quarter of 2010, with the availability of mortgages increasing by a small amount for borrowers with high loan-to-value (LTV) ratios.

The report also found that it was expected that the availability of mortgages would be broadly the same over the next quarter, with perhaps a small rise in maximum LTV ratios.

Findings from the survey showed that, for a fifth consecutive quarter, demand for remortgaging was reported to have fallen in the first quarter of 2010, with gross lending for house purchases increasing from GBP9.6 billion to GBP£9.9 billion between February and March.

Again, the amount of net mortgage lending by all UK-resident mortgage lenders stayed flat in February, at GBP1.6 billion, as did the annual and three-monthly rates of growth of the stock of lending.

Net mortgage lending by the major UK lenders was broadly unchanged in March, while gross mortgage lending for house purchase rose slightly, according to Lending Panel data.

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