Oxford University strikes £4bn partnership with Legal & General June 27, 2019 Legal & General has signed a £4bn partnership deal with Oxford University in its latest bid to tap into the growing market of student accommodation. The property giant has struck a 10-year partnership with the country’s oldest university as part of a plan to deliver 1000 subsidised home for university and college staff, 1000 units [...]
UK property market: Mortgage approvals dip from 26-month April high June 26, 2019 The number of residential mortgages approved by banks dipped last month, easing back from a 26-month high in April but remaining above the monthly average. Seasonally adjusted figures show that banks in Britain approved 42,384 house purchase mortgages in May, falling from roughly 42,900 in April but beating the consensus of 41,000. Read more: London [...]
Mortgage lending grows in solid start to the year June 11, 2019 The UK mortgage market enjoyed a solid start to the year as residential lending and new mortgage commitments both rose. The outstanding value of all residential mortgage loans rose to £1.45bn in the first quarter, a 3.4 per cent rise on a year earlier. Read more: Mortgage approvals rebound after delay on Brexit deadline The [...]
UK house prices grow at fastest rate for two years despite uncertainty June 7, 2019 UK house prices grew at their fastest rate for two years in May with an increase of 5.2 per cent year on year, according to new data released today. The value of the average UK home rose by 0.5 per cent from April to £237,837 last month, the Halifax House Price Index revealed, increasing by [...]
Private renters to save hundreds of pounds as letting fees ban comes into action June 1, 2019 The ban on letting fees has come into force throughout England, two-and-a-half years after the plan was initially unveiled. It is set to save private renters hundreds of pounds, with Citizens Advice claiming that around £234m has been paid out since November 2016, when the government committed to crack down on the fees. Read more: Mortgage [...]
Mortgage approvals rebound after delay on Brexit deadline May 31, 2019 Mortgage approvals for house purchases hit a three-month high in April, rebounding after Britain's March deadline for Brexit was postponed. The number of residential mortgages approved in April ticked up to roughly 66,300, nearing a two-year average and bouncing back from a fall in March, according to new data released this morning by the Bank [...]
UK house price growth slows in May amid Brexit uncertainty May 31, 2019 Annual growth of UK house prices remained below one per cent for the sixth consecutive month in May, as political uncertainty continued to weigh on the property market. Prices fell 0.2 per cent month-on month, while annual house price growth slowed to 0.6 per cent, falling from 0.9 per cent in April and below the [...]
UK mortgage approvals hit two-year high following Brexit extension May 28, 2019 The number of mortgage approvals for house purchases in the UK reached a two-year high in April, a survey showed today, suggesting the country’s housing market may be recovering from a recent slowdown. Read more: Mortgage approvals fall as lending to businesses also drops UK banks approved 42,989 mortgages in April, the highest figure since [...]
Why is the mortgage market strangely resistant to technological change? May 16, 2019 Technology is so pervasive that it is easy to forget just how fundamentally it has impacted our lives. In fact, it is hard to think of an area of life that hasn’t been made more accessible, faster or cheaper. Personal finance is no exception. Price comparison websites, mobile banking, and other innovations have all transformed the [...]
The big fixer-upper: How to solve the problems in the mortgage market May 15, 2019 We've sent people into space, built driverless cars, and engineered robots that can think like us. And yet, fixing the mortgage approval process still seems out of humanity’s reach. The market is riddled with inefficiencies. Consumers are forced to fill out documents detailing every corner of their lives, while clunky underwriting processes mean that it [...]