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
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
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
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.