The Housing Hub launched to promote wider access to home ownership
One in 10 new homes in the UK are self built and the market generates £3 billion annually for the UK economy, says the BSA as it publishes a toolkit to provide information to encourage lenders not yet in this market to offer self-build mortgage finance.
Consumers will face increasing challenges as the fall-out from the financial crisis and economic pressures continue, warns out-going BSA Chairman, Peter Griffiths.
Gross mortgage lending by building societies and other mutual lenders rose 58% in March 2012 compared to the same month last year, and by 40% in the first quarter of 2012 compared to the first quarter of 2011. Net lending by mutuals was positive for the sixth consecutive month.
The BSA has today submitted its response to the FSA's final Mortgage Market Review proposals.
Gross mortgage lending by building societies and other mutual lenders rose 28% in February 2012, compared to the same month last year.
Commenting on The Budget delivered this afternoon by Chancellor, George Osborne MP, Adrian Coles, Director General of the BSA said:
The results of the BSA's Property Tracker, which takes the views of over 2,000 consumers as a market temperature check every three months, has identified some improvements in consumer sentiment in its March survey, offset by rising fears over job security.
The Building Societies Association warmly welcomes the publication today of the report of The Ownership Commission. Commenting, Adrian Coles, Director-General of the BSA said:
The BSA acknowledges, and has welcomed, the Government’s efforts to help stimulate the housing and savings markets. There are however additional, and quite logical steps that should be taken which could further aid homebuyers and savers in these challenging economic times. Read the BSA's budget submission for the Chancellor's 2012 budget here.
In its Budget Submission made to HM Treasury today, the Building Societies Association (BSA), calls on the Chancellor to provide more support to savers as well as borrowers. Savers in particular have been experiencing the perfect storm of an all time low bank rate, coupled with relatively high inflation. This has led to real hardship for many who rely on their savings for income.
Building societies and other mutual lenders continued to increase their lending in January 2012, compared to the same month in 2011. Gross mortgage lending was up 32% and mortgage approvals increased by 54% on January 2011.
Following the decision of the MPC today to increase quantitative easing further, Adrian Coles, Director-General of the Building Societies Association, said:
Gross lending by building societies and other mutuals in 2011 was £23.6 billion which is up 16% compared to 2010 (£20.4 billion), bucking the trend across much of the rest of the market. Gross lending by mutuals in December was £2.1 billion, up 15% compared to December 2010 (£1.8 billion).
Gross lending by building societies and other mutuals was £2.5 billion in November, up 24% compared to November 2010 (£2.0 billion), and a new high since the BSA started reporting on the current basis in January 2010. Savings balances held by mutuals increased by £0.5 billion in November, compared to an increase of £0.6 billion in November 2010.
BSA responds to statement by the Chancellor on the ICB - 19 December 2011
Commenting on the mortgage regulation proposals published today (Monday 19th December) by the FSA, Paul Broadhead, Head of Mortgage Policy at the BSA, said this:
Adrian Coles, Director General of BSA, comments on stamp duty and NS&I mentions in George Osborne's Autumn Statement.
Building societies and other mutuals continue to support homebuyers and savers in the face of the weak outlook for the economy
The Government’s tax-free children’s savings product, the Junior ISA (JISA), was launched in November as a replacement to the Child Trust Fund. Mutuals welcome this addition to the market and are leading the way offering cash JISAs.
The Government Housing Strategy published on 21 October certainly has something for everyone: homeowners, renters, older people and environmentalists. But can the strategy really be all things to all people?
Commenting today on the Government’s announcement that it will support a new build indemnity scheme, Paul Broadhead, BSA Head of Mortgage Policy, said:
Commenting on the sale of Northern Rock to Virgin Money, Adrian Coles, Director-General of the Building Societies Association, said the following:
Against the backdrop of continued economic uncertainty, building societies and other mutuals continue to support homebuyers and savers.
Responding to the call by Housing Minister, Grant Shapps MP for more long-term fixed rate mortgages, Paul Broadhead, Head of Mortgage Policy for the Building Societies Association said:
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