Average first-time buyer mortgage term is now 31 years
New data from UK Finance has shown that the average first-time buyer mortgage term is now 31 years.
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Mortgages approvals fall for fourth consecutive month
Latest data from the Bank of England has found that net borrowing of mortgage debt by individuals decreased sharply by £13.7 billion to -£0.8 billion in April. This followed an increase in net borrowing by £9.6 billion in March.
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Second charge mortgage new business volumes grew by 18% in March 2025
Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said:
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Consumer finance new business grew by 13% in March 2025
New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business grew in March 2025 by 13% compared with the same month in 2024. In Q1 2025, new business in this market was 6% higher than in Q1 2024.
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Consumer confidence in the housing market declines
The latest Property Tracker survey from the Building Societies Association (BSA), reveals a decline in consumer confidence in the housing market. Just 17% of people agree now is a good time to buy a property, a decline from 20% just three months ago (Jan 2025). More than double this number didn’t think now was a good time to buy, with 38% disagreeing with the statement.
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Second charge mortgages grew by 9% in February
New figures released by the Finance & Leasing Association (FLA) show that second-charge mortgage new business volumes grew by 9% in February 2025.
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