Gifts and loans from the Bank of Mum & Dad (BOMAD) to first-time home buyers will reach almost £30 billion over the next three years, according to the latest analysis from property firm Savills. In 2023, £9.4 billion was gifted to 164,000 first-time buyers, accounting for a huge 57% of all mortgaged first-time buyers. This…
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UK’s net mortgage approvals (that is, approvals net of cancellations) for house purchases, which is an indicator of future borrowing, remained broadly stable at 60,000 in June, the Bank of England (BoE) revealed in its report issued on Monday (July 29). Approvals for remortgaging (which only capture remortgaging with a different lender) decreased to 27,500…
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Greece’s Supreme Court (Areios Pagos) on Feb. 9 ruled that loan management companies- known as servicers, can conduct auctions on behalf of “funds” that have bought packages of non-performing loans in the country. According to Greek media reports, this means that 700,000 properties are at risk while within three years it is estimated that around…
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The European Union’s banks are exposed to downside risks as residential real estate markets get overheated, a new report finds. EU banks reported more than EUR 4.1 trillion of loans and advances collateralized by residential immovable property, the report published by the European Banking Authority (EBA), finds. This corresponds to 1/3 of all loans towards…
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