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Increasing rivalry between lenders
A group of lenders has said that there is increasing rivalry between mortgage suppliers as activities in the residential property segment increase. In 2009, at the peak of the global economic downturn, the six largest UK lenders accounted for more than 90% of total mortgage loans. However, this dropped to 77% last year, according to new data from the Council of Mortgage Lenders (CML).
Numbers are coming as the land registry is reporting an increase in real estate values. He said that in July in England and Wales mean UK and Wales price averages were up 1% on the prior month and up 0.8% on the prior year. However, the greater level of activities on the markets continues to be fuelled by real estate deals in London, as the numbers show.
Mortgage markets contracted during the credit crunch, with lenders taking advantage of deals and consumer gambling safely instead of purchasing a new home. As a result, a number of lenders fused, and the biggest were those accounting for the lion's share of a relatively small pool of loans. Some of them, however, have borrowed since then, while some smaller providers have become more aggresive.
During 2012, the volume of loans was unchanged from 2011, but the big six - Lloyds, the Nationwide, Barclays, HSBC, Santander and RBS - cut their contribution from 81% to 77%. "Competitive markets are becoming increasingly competitive, providing those mortgage shoppers with advantages that best meet their needs," the CML said.
The Lloyds Banking Group maintained its leading position with an 18th place. 3 percent increase in the percentage of mortgage loans. Throughout Germany, the country as a whole increased from rank four in the 2011 ranking to rank two in 2012 with a 14.8% proportion of total loans. The London real estate bubble The land registry numbers show that recent activities in the residential markets in England and Wales have been spurred by the London real estate industry.
In July, median inflation in the German capitol increased by 2.1% compared to the previous months. On the other hand, the year on year changes in inflation showed a decline in Northeast England, Yorkshire and the Humber, Northwest England and Wales. "Real estate in London is on the upswing, especially in the upper segment of the markets.
An important proportion of these disposals go to overseas buyers who are continuing to buy large portions of the capital's best properties," said Jonathan Hopper, executive manager of Garrington Immobilien Research. Mean house values in England and Wales are now £164.098, the land registry said.
Shelter said the price rise would drive some "forgotten families" out of the bazaar - especially if they were looking to climb ladders or move into a more appropriate home. That would allow familys to own part of the house, through a mortgage, while paying rental on the remainder.
"Rising housing costs mean that the old fashioned markets are no longer working for normal people," said Kay Boycott, campaign and politics manager at Shelter.