Finance Matters

Mortgage arrears and repossessions both fell in the first quarter of 2010, according to the Council of Mortgage Lenders (CML).
However, the body warns against complacency, “as a large number of households, who are just coping, still remain vulnerable to shocks that may arise from the economic uncertainty ahead”.
During the first three months of the year, [...]

Residential mortgage approvals declined in February, new figures from the Bank of England show.
The number of loans sanctioned for house purchases fell by over 1,000, compared to a month earlier, to 47,094.
The total was also well below the previous six months average of 55,130 and 21% below the peak seen in November, as the end [...]

The average cost of a two-year fixed-rate mortgage fell to a six-and-a-half-year low during February, according to new figures from the Bank of England.
The average rate stood to 3.88%, down from 3.97% a month earlier to a level last seen in July 2003.
Five-year fixed-rates also eased last month, declining to an average 5.49%, down from [...]