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 [...]
UK households downbeat over finances despite slowing growth in living costs January 21, 2019 Living costs have risen at the slowest rate in three years this month, however UK households remained downbeat due to concerns over job security, lower cash availability and pessimism over the UK housing market. The Household Finance Index, which measures household's perceptions of financial wellbeing, increased in January to a three-month high of 44.8 but [...]
Bank earnings the next big threat to Buffett’s portfolio after Apple profit warning? January 14, 2019 Warren Buffett may invest for the long haul, but surely any money manager must wince at the thought of losing a $4 billion chunk of their portfolio. Apple shares tanked at the start of the year after CEO Tim Cook issued the company’s first profit warning in 12 years, blaming the US-Sino trade war and [...]
House sales fell in 85 per cent of London boroughs in 2018 January 11, 2019 House sales slumped in 85 per cent of London boroughs in 2018 amid a difficult time for the UK’s property market, new data revealed today. London fared worse than the rest of the country in terms of the number of transactions, with a 6.5 per cent overall year-on-year drop compared to a 4.9 per cent fall [...]
UK house prices get unexpected December boost but market remains subdued January 8, 2019 UK house prices rose 1.3 per cent in the three months to December compared to the same period last year, according to new figures from Halifax. The annual growth rate was up from the 0.3 per cent recorded in November, but house prices were 0.4 per cent lower than in the preceding three months. Read [...]
Mortgage approvals decline in November as Brexit uncertainty impacts housing market January 4, 2019 The number of mortgage approvals fell to a seven-month low in November as Brexit concerns continued to rattle the housing market. Mortgage approvals fell to 63,728 in November, down from 66,709 the previous month, according to new figures from the Bank of England (BoE) released today. Mortgage lending rose by £3.5bn in the same month, lower than the [...]
First-time buyer mortgage approvals hit 10-year high despite higher UK house prices January 2, 2019 First-time buyer mortgage approvals hit their highest level in more than 10 years in 2018, the latest data shows. An estimated 367,038 first-time buyers took out mortgages last year, up from 362,800 in 2017, according to analysis from Yorkshire Building Society using UK Finance figures. The number exceeded 2007 levels, when 359,000 first-time buyers secured mortgages, [...]