Outstanding mortgage loans 'up in Q3'

Posted by Mark Cunningham

New figures have shown that the total value of outstanding loans in the UK's mortgage market increased slightly over the duration of the third quarter of 2010.

According to the Financial Services Authority's (FSA) latest Mortgage Lending Data document for Britain, this figure went up by less than one per cent to £1,220 billion throughout the third three-month period of the year.

Meanwhile, new advances in the quarter were up by 12 per cent against the data posted for the second three-month timeframe of the year to a level almost equal to that seen in the corresponding period in 2009.

In addition, the FSA found that liquidity may be beginning to return to the market, as the proportion of loans awarded to borrowers with an impaired credit history increased by 0.44 per cent.

This comes after Communities and Local Government revealed that house prices in the UK rose 5.5 per cent over the year in October.
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14/12/2010 15:22

News category: Property

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