Chancellor Jeremy Hunt to meet lenders as mortgage crisis worsens June 23, 2023 Chancellor Jeremy Hunt will ask banks if they can do more to support struggling households after a shock interest rate hike deepened the mortgage crisis. He is meeting large lenders including HSBC and Santander in Downing Street this morning as the government comes under pressure to relieve the pain. Prime minister Rishi Sunak and Hunt [...]
Lenders expect further rise in mortgage defaults in coming months July 11, 2024 UK lenders are expecting a further jump in default rates on home loans in the coming months, according to a Bank of England survey, as mortgage holders face higher refinancing costs.
Average mortgage ‘shelf-life’ cut in half as lenders raise rates June 10, 2024 The average "shelf-life" of a UK mortgage has nearly halved in a month, new data shows, as lenders raise rates on home loans.
Lenders expect higher default rates on mortgages and credit cards in coming months April 11, 2024 British lenders are seeing increasing demand for mortgages and credit card lending but higher default rates, according to an official survey, as households and businesses struggle with elevated borrowing costs.
Australian property fintech PEXA gears up for government-backed UK launch February 15, 2022 Australian property fintech PEXA is set for a UK expansion with backing from the UK government as it looks to roll out a remortgage platform for UK mortgage lenders.
More lenders expected to hike mortgage rates following HSBC, brokers warn June 15, 2023 More and more lenders are set to increase rates on mortgages, brokers have warned, as the fallout from the Bank of England’s rate rise continues to devastate homeowners. The fresh blow to the housing sector comes as HSBC pushed mortgage rates up for the second time in one week in an unprecedented move for the [...]
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Mortgage defaults expected to pick up as rising rates hits borrowers, say lenders July 13, 2023 Banks and building societies expect the level of mortgage defaults to increase over the next quarter as the impact of rising interest rates filters through the economy. In the Bank of England’s quarterly credit conditions survey, lenders reported “losses and default rates on secured loans to households increased in Q2, and were expected to increase [...]
Three more lenders cut mortgage rates as others warned to ‘sharpen pencils or risk losing out’ November 14, 2023 First Direct, Halifax and HSBC UK have all cut their rates, while others have been warned they risk losing out.
LendInvest swings to loss on mortgage woes, has cut more than a quarter of staff December 19, 2023 AIM-listed lender to homeowners and buy-to-let landlords hit by increased competition