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Nicole Curtis fixes homes for a living, but she can’t fix her family ... Part of the ruling was that each party was responsible for half of Harper’s traveling expenses between Minnesota and California, and that Maguire would have weekend overnights.


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-1?"ttf":"woff";localStorage.setItem(formatStorageKey,format)}return format}();var fonts=document.querySelectorAll(".webfont");var hinting=fontHinting==="Off"?"":"hinted-"+fontHinting+"-";var urlAttribute="data-cache-file-"+hinting+fontFormat;for(var i=0,j=fonts.length;i0&&alpha-1){styleSheet.media="screen";window.guardian.css.loaded=true;try{window.guardian.css.onLoad()}catch(e){}return true}}setTimeout(function(){setMedia(styleSheet)})}function useCss(){for(var i=0,totalStyleSheetLinks=styleSheetLinks.length;i switch to the US edition switch to the UK edition switch to the Australia edition switch to the International edition current edition: US edition The Guardian - Back to home Make a contribution Subscribe Find a job Jobs Sign in Comment activity Edit profile Email preferences Change password Sign out My account Search News Opinion Sport Culture Lifestyle Show More News US news World news Environment Soccer US politics Business Tech Science Homelessness Opinion The Guardian view Columnists Letters Opinion videos Cartoons Sport Soccer NFL Tennis MLB MLS NBA NHL Culture Film Books Music Art & design TV & radio Stage Classical Games Lifestyle Fashion Food Recipes Love & sex Home & garden Health & fitness Family Travel Money What term do you want to search? Search with google Become a supporter Subscribe Sign in/up My account Comment activity Edit profile Email preferences Change password Sign out US edition switch to the UK edition switch to the Australia edition switch to the International edition Jobs The Guardian app Video Podcasts Pictures Newsletters Digital archive Crosswords Facebook Twitter Jobs Money Property Pensions Savings Borrowing Careers More Mortgages Mortgage market split as new loans rise but remortgages decline Number of loans for purchases is 29% higher than last August, but the number of remortgages has fallen 57%, the CML says Hilary Osborne Share on Facebook Share on Twitter Share via Email View more sharing options Share on LinkedIn Share on Pinterest Share on Google+ Share on WhatsApp Share on Messenger Close This article is over 8 years old Mortgage lending for house purchases has more than doubled since JanuaryPhotograph: David Levene/Guardian The mortgage market is operating on two levels, with the number of loans for house purchases rising over the past 12 months while the number of remortgages slumped, figures from the Council of Mortgage Lenders (CML) showed today. The number of remortgages dropped to 32,000 during the month, 22% down on July's figure and 57% lower than in the same month last yearThe value of remortgages was down by 63% year-on-year at £3.6bn. Meanwhile, the number of mortgages granted to homebuyers dropped slightly during the month, dipping 5% to 53,000However, it was 29% higher than in August last year. The CML said that while the number of house purchase loans remained significantly lower than the August average of 100,000 seen in the seven years before the credit crunch, it had more than doubled since the start of the year. At £7.2bn, the value of loans for house purchases accounted for 58% of mortgage activity – the largest slice of the market since 2002The number of remortgages has dropped off sharply as a result of low interest rates and tighter lending criteria. For some borrowers, moving off a special offer rate and on to their lender's standard variable rate (SVR) has proved cheaper than shopping around for a short-term fixed- or discount-rate deal. News today that interest rates could remain at their current low levels for some years to come is likely to encourage more borrowers to sit tight rather than switching to a different lender. Some borrowers have also found they are unable to switch, as falling house prices have reduced the amount of equity in their property and made it impossible to find a new dealA reluctance to lend at high loan-to-values has exacerbated the problem. Another driver for the drop has been borrowers' desire to pay off their debtsWhile some once saw their homes as a cheap source of cash which could be unlocked through remortgages, recent figures show homeowners have recently been paying down their loans. Before the credit crunch began remortgage numbers were running at more than 80,000 a month, peaking at 147,000 in May 2003In the early part of last year the figure was around the 75,000 mark, but this year they peaked at 44,000 in January. The CML's economist, Paul Samter, said: "House purchase activity has revived from its moribund state at the beginning of the yearIt will be a drawn-out recovery process with seasonal ups and downs, but house purchase activity is now on a firmer footing. "However, remortgaging demand has fallen away in the low interest rate environment and this is dragging down gross lending levels overall." Topics Mortgages Property House prices Mortgage lending figures Housing market news Share on Facebook Share on Twitter Share via Email Share on LinkedIn Share on Pinterest Share on Google+ Share on WhatsApp Share on Messenger Reuse this content View all comments > Order by newest oldest recommendations Show 25 25 50 100 All Threads collapsed expanded unthreaded Loading comments… Trouble loading? View more comments Signed in as Show comment Hide comment Hide comment Welcome , you’re about to make your first comment! Before you post, we’d like to thank you for joining the debate - we’re glad you’ve chosen to participate and we value your opinions and experiences. Please choose your username under which you would like all your comments to show upYou can only set your username once. Username: Must be 6-20 characters, letters and/or numbers only, no spaces. 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