the Business Forum and
the Economic Partnership
in Brighton & Hove
Homepage    BCRP Intranet    Funding    Events    Knowledgebase    Links    About us     Contact us
Key projects
Crime
reduction
 


Inward
investment
information
 


Licensee
Forum
 

Workforce development 

Transport
 

Business &
climate
change

Property &
Development sites

Business
Improvement
Districts

Housing
 

Strategy
 

Consultation opportunities
 

Brighton & Hove Business Forum
8-11 Pavilion Buildings, Brighton, BN1 1EE
Tel: 01273 735442
Email: info@brighton
business.co.uk

© Brighton & Hove
Business Forum

News - 1 October 2008
(photo source: casey serin)

August - another collapse in mortgage lending

The Bank of England has reported that new mortgage lending collapsed in August with just 32,000 new mortgages being approved - 70% fewer than a year ago.

Despite the fact that August is traditionally the quietest month for house sales a lending figure like this is testament to the deep malaise in the UK housing market which is expected to continue into next year.

The continuing fall in house prices and open talk of an imminent recession may have put off potential purchasers combined with the continuing difficulties experienced by first time buyers who have been more-or-less shunned by lenders.

Howard Archer of Global Insight said: "The dire Bank of England mortgage data shows that housing market activity is being decimated by the highly damaging combination of stretched buyer affordability and tight lending practices,"

Several of the biggest lenders have re-written their loan offers with Lloyds TSB pushing up the cost of its two- and three-year fixed rate mortgages, Northern Rock will raising the cost of its entire range of residential fixed and tracker rates and HBOS withdrawing its entire mortgage range and replacing it with more expensive options. To get the best products, borrowers now need a deposit of up to 25%.


Read related items on:
Market movements
National scene
Bank of England
Global Insight
Halifax Bank of Scotland
Lloyds TSB
Northern Rock


Browse our business Knowledgebase or search by keyword


Headlines

13 December 2017
Ethical Food StartUp Programme - Idea Generation Workshop
12 December 2017
Utilise Plus launch programme of energy efficiency grants and business support for SMEs 11 December 2017
City Centre Vacancy Rates Drop Slightly From Sept 5 December 2017
Innovate UK Announces Sector Competitions in Manufacturing and Infrastructure Systems 5 December 2017
GDPR, steps to early compliance 1 December 2017
The 29th Sussex Business Awards 2017 Winners Announced 1 December 2017
Old tech gear? Give IT a new lease of life 29 November 2017
Driving for Better Business Campaign launches 29 November 2017
ARKA Funerals sponsor Burning the Clocks 2017 with 'In Memory' lanterns 27 November 2017
Govia Thameslink launches third consultation phase on once-in-a-generation timetable restructure 23 November 2017
Coast to Capital Launches Brighton Mainline Alliance 22 November 2017
Calling all UK companies that have transport, parking and commuting issues to address 15 November 2017
Start-up Challenge Business Competition Offering £10,000 Investment to Young Entrepreneurs 15 November 2017
IUK Announces £10 Million Innovation Loans Infrastructure Systems Funding Competition for UK SMEs 15 November 2017
Sussex Food and Drink Grand Finalists Celebrate Success 10 November 2017
Meaning conference confirms speaker line-up: breeding a new army of business activists 10 November 2017
Positive body image documentary screening at Hove school 8 November 2017
Material Practices: Painting and Printmaking at the University of Brighton - Private View 8 November 2017
Economic Partnership kick starts city strategy consultation 8 November 2017
GTR respond to positive ASLEF referendum result 7 November 2017
350th employer signed up to the Brighton & Hove Campaign 7 November 2017
Rampion announces £4 million community fund 6 November 2017
The First Gamification Conference comes to Brighton 3 November 2017
Shoreham Port Welcomes New Commercial and Operations Director 2 November 2017
Burning the Clocks launches Crowdfunder for 2017 2 November 2017
The Gatwick Diamond Business Awards are now open for Entries 31 October 2017
Brighton Based Paxton Open New Centre for Technology & Innovation 27 October 2017
Adventures in risk taking for high growth businesses 27 October 2017
Can your business benefit from offering a 'world of work' experience? 27 October 2017
The Small Business Saturday Bus Tour launches across the UK for its fifth year 24 October 2017
Business Networking & Case Study Visit with the Sustainable Business Partnership 24 October 2017
Could you use an Energy Saving Workshop? 17 October 2017
Peter Blake raffle raises £2,290 for Middle Street School 17 October 2017
AMEX named major sponsor of city's bike share scheme 16 October 2017
Ropetackle Business Friends scheme 4 October 2017
VIRGIN STARTUP MEETUP 'HOW TO TELL (SELL) YOUR STORY' 3 October 2017
BTN BikeShare: a successful first month 3 October 2017
PLATF9RM open at Hove Town Hall 28 September 2017
Green Light for Preston Barracks and Moulsecoomb Campus Regeneration 28 September 2017
Local success story Giggling Squid at the Brighton Summit