News
Credit criteria eases slightly for FTBs - CML February/March 2011
Credit criteria loosened slightly for first time buyers in November, the Council of Mortgage Lenders has revealed recently. CML said that loan-to-value ratios for first time
buyers appeared to ease a little, with FTBs borrowing 80% of their home’s value for the second month in a row. This is the highest level seen since November 2008. Loans to first time buyers rose 3% from October to
16,400 and were worth £1.9 billion, but the same value was recorded in October. Annually, the figure was 19% down in volume and dropped 17% in value. Overall, November saw little change in the volume
or value of mortgage activity. There were 44,000 loans advanced for house purchase, unchanged from October, which represented a 15% drop in volume and a 13% decrease in value from November 2009.
www.cml.org.uk
08
Taylor Wimpey prioritises margin and profit over volume
Taylor Wimpey completed 9,962 homes in 2010 compared to 10,186 in 2009 as the firm looked to prioritise profit and margin over volume. In an interim trading statement ahead of full year
results in March, the firm said that operating profit and profit before tax would be ahead of the upgraded expectations set last November and margin on UK housing is expected to be 7%, up from 0.8% last year.
Taylor Wimpey says that having reduced build cost by
10% in the first half, it has delivered further savings in the past six months which has resulted in the higher margin. The firm says that it continues to be cautious in the
face of constrained mortgage lending and continuing uncertainty in the wider economy. But it expects to continue to reduce costs and is encouraged by enhanced sales rates, prices and margins at recently opened outlets.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84