BoE expects mortgage approvals to rise in 2013

A rise in the number of mortgage approvals could be the next stage in the Funding for Lending Scheme, the Bank of England has suggested

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Home ownership slumps 4% - Census

Just one third of households in England and Wales have a mortgage as more people move into the private rental sector, census data has revealed.

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Brokers will have another four years or more to wait for the housing market to reach “a new normal” while levels of lending and home building may take until 2020 to recover, Legal & General has predicted.

The study, carried out by Cebr, estimated by 2017 the average UK house price would be £254,000, or 11.9% higher than the Q3 2007 peak of £227,000 and 17% higher than 2012.

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NatWest Intermediary Solutions is to cut rates across its mortgage product range, including a new range of fee-free 50% LTV mortgages.

The lender is making over a dozen rate reductions and introducing a number of new fee-free products ahead of Christmas for its main bank and Core ranges tomorrow.

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