Metro Bank share price falls after plans to reduce capital charge rebuffed by watchdog September 12, 2023 Metro Bank shares plummeted after the lender announced that plans to reform its calculation of capital requirements have been rebuffed by the banking watchdog.
More fintechs secure UK banking licences as Revolut struggles to get approval September 7, 2023 Two new challengers succeeded in securing banking licences from regulators today, raising more question marks for Revolut as it struggles to get approval from the City watchdogs.
UK house prices drop by 0.8 per cent as ‘softening’ of growth at weakest since 2009 September 1, 2023 Nationwide said house prices are now 5.3 per cent below their August 2022 peak, while the average property value is now £259,153.
Property sales down 16 per cent in July as reduced lending rates fails to stop hesitancy August 31, 2023 The number of property sales taking place in July was 16 per cent lower than it was in the same month last year, as reduced lending rates failed to allay prospective buyers' hesitancy.
Mortgage approvals sink in July as market continues to cool on rising rates August 30, 2023 The number of mortgage approvals fell sharply in July as the housing market continues to cool off the back of rising interest rates.
Will the tail-end of summer mean more pain for the UK housing market? August 26, 2023 August, like much of the summer, has already proved a tricky month for the housing sector. Despite all major central banks slashing their rates in the wake of cooling inflation, buyer confidence still appears to be low. Last week’s Rightmove figures showed that the average price of a home fell by 1.9 per cent in [...]
Crash warning: House prices slump in July as market hits 2009 lows August 1, 2023 House prices have slumped by 3.8 per cent year on year, the latest closely watched figures from Nationwide show, as a season of high interest rates and weak consumer confidence continues to batter the market. The figure is the weakest since July 2009, although it is only slightly lower than the -3.5 per cent recorded [...]
Bank of England interest rate rises yet to pass fully through economy as borrowing ticks up July 31, 2023 The effects of the Bank of England’s aggressive interest rate rises have yet to fully feed through the UK economy as Brits continue to borrow and look to get on the property ladder, official data out today shows. A clutch of numbers released by the Bank of England today revealed consumers are not yet being [...]
Bank of England to hike interest rates for 14th time in a row to 2008 high of 5.25 per cent July 31, 2023 The Bank of England this week is tipped to hike interest rates for the 14th time in a row as it extends its fight against roaring inflation. Members of the nine-strong monetary policy committee (MPC) are expected on Thursday to back a 25 basis point increase to the UK’s official interest rate, which would send [...]
Rishi Sunak and Sadiq Khan at loggerheads over London housebuilding July 27, 2023 Prime Minister Rishi Sunak has threatened to wade into mayor of London Sadiq Khan’s efforts on housebuilding in the capital. The politicians traded verbal blows today as the PM accused the mayor of failing to build enough homes for Londoners, while Khan branded his claims “desperate nonsense”. Speaking during a visit to a development in [...]