UK house prices drop in March amid Brexit uncertainty after shock rise, says Halifax April 5, 2019 UK house prices grew 2.6 per cent year on year in March, but fell compared to the month before, according to data released today. The value of the average UK home hit £233,181 last month, after growing 1.6 per cent between January to March compared to the three months to the end of December. Read [...]
Niche bank Cambridge and Counties hits record lending levels after launch of classic car loans April 2, 2019 Niche property bank Cambridge and Counties reported a profit rise and assets of more than £1bn after the successful launch of its classic car loans arm. The business-focused bank said pre-tax profit increased 14 per cent to £27.9m last year and loans and deposit levels reached record highs. Read more: Mortgage approvals fall as lending [...]
Mortgage approvals fall as lending to businesses also drops March 29, 2019 Mortgage approvals for house purchases fell in February while the number approvals for remortgaging also decreased, data released today showed. Meanwhile, the annual growth of bank lending to businesses fell in February for non-financial businesses, reversing an increase in January, Bank of England (BoE) data revealed. Read more: Sluggish GDP growth and shrinking business investment in UK [...]
UK mortgage approvals fall as Brexit uncertainty bites March 26, 2019 Mortgage approvals in the UK have fallen year-on-year as homebuyers put off their decisions amid political uncertainty, new data has revealed. The number of mortgages approved by the main high street banks in February was 2.2 per cent lower than the same month in 2018, the finance and business services body UK Finance said today. [...]
How the arrival of the World Wide Web has changed the mortgage market March 12, 2019 In 1989, the Swiss physics laboratory, CERN, was buzzing with information but it had one big problem: ideas, data and knowledge held by the lab was stored across incompatible computers. A young scientist, Tim Berners-Lee, envisioned creating a unifying structure for sharing information across its computer systems. He wrote a proposal for a linked information [...]
Lending rises for remortgages but falls for UK house buyers at end of 2018 March 12, 2019 Mortgage lending was up for remortgaging and down for house purchasing in Britain in the fourth quarter of 2018 compared to a year earlier, new statistics by the Bank of England and Financial Conduct Authority (FCA) have shown. The proportion of high loan-to-income (LTI) loans, those greater than four times the value of annual income [...]
Remortgaging in London hits decade high as homeowners capitalise on competitive deals February 27, 2019 Remortgaging in London has reached a decade-high and the number of first-time buyers also rose at the end of last year, according to UK Finance data. The number of new homeowner remortgages in the capital rose to 60,400 in 2018 – a 6.2 per cent increase on 2017 and the highest annual figure since 2008, [...]
Lending to consumers slows as credit card borrowing falls amid Brexit uncertainty January 30, 2019 Lending to British consumers grew at its slowest rate in four years in December, as credit card borrowing fell sharply in the run up to Brexit. Annual consumer credit growth slowed to 6.6 per cent, the Bank of England said. Credit card borrowing was “particularly weak”, the bank said, and households put more money into [...]
Should we be worried about the rise of the Bank of Mum and Dad mortgage? January 30, 2019 In the years leading up to the financial crisis, it was relatively easy for wannabe homeowners to get loans for the full value of a property – otherwise known as a 100 per cent loan-to-value mortgage. Of course, we know the problems caused by these mammoth loans, and since then, affordability criteria have become stricter [...]
Credit card spending shoots up as customers turn to extra protections January 25, 2019 UK credit card users spent almost nine percent more last month than the year before, as more customers start using credit as their go-to way of paying at the tills. Britain’s £11bn of credit card spending last month rose 8.8 per cent year-on-year, while the outstanding level of credit card borrowing grew 4.7 per cent [...]