Mar­ket is stag­nant, FSA fig­ures show

Yorkshire Post - Property - - PROPERTY -

THE num­ber of re­pos­ses­sions in the first quar­ter of 2011 rose for the first time in a year.

They were up 17 per cent to 9,613, though ar­rears were down ac­cord­ing to Fi­nan­cial Ser­vices Au­thor­ity mort­gage lend­ing data, which re­veals that the hous­ing mar­ket is still largely stag­nant.

Mort­gage lend­ing was 10 per cent lower than in the last quar­ter of last year, al­though three per cent up on the first quar­ter of 2010. But house pur­chase mort­gages ac­counted for just 54 per cent of lend­ing and only two per cent of all new mort­gages were given with a loan to value above 90 per cent. Bor­row­ers with poor credit his­to­ries strug­gled and ac­counted for just 0.3 per cent of all loans.

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