Mortgage approvals jump to five-month high as subdued market picks up | City A.M. July 30, 2018 Mortgage approvals hit a five-month high in June as Britain’s housing market shows signs of recovery from a slowdown earlier this year. British lenders approved 65,619 mortgages in June, rising 1.5 per cent from 64,684 in May and reaching the highest level since January, according to data from the Bank of England (BoE). Meanwhile, the [...]
UK house prices edge up in May after April slump – Halifax June 7, 2018 The UK housing market remains subdued, however, house prices in the three months to May were 1.9 per cent higher than the same period a year earlier, according to survey by UK bank Halifax. On a monthly basis, prices rose by 1.5 per cent in May, partially reversing the 3.1 per cent decline in April. [...]
FCA says UK’s 150,000 ‘mortgage prisoners’ need help switching to better deals May 4, 2018 The UK’s financial watchdog has said it wants to help around 150,000 “mortgage prisoners” who are trapped in their current borrowing find a better deal. Releasing its interim report into the mortgage market this morning, the Financial Conduct Authority (FCA) said that there were a number of ways in which the industry could work better [...]
nHouse founders Nick Fulford and Richard Hywel Evans on the need for modular housing in the UK May 2, 2018 While we all know what disruptive tech looks like, what does disruptive housing look like? By almost universal consent, three problems need to be addressed in the current market – affordability, sustainability and quality – and whoever conquers all three will seriously shake up the UK market. Yet architect Richard Hywel Evans thinks he, along [...]
Halifax: UK homeowners have earned enough to cover mortgage payments for 2018, London residents to wait two more months April 16, 2018 UK homeowners have earned sufficient income, on average, to cover their mortgage payment for the rest of 2018, according to British bank Halifax. Dubbing today ‘Uk mortgage freedom day’, the bank says that, based on on the average annual mortgage repayment cost of £8,039 and the average net annual income of £27,7243, 16 April marks [...]
First digital mortgage deed signed for house in Rotherhithe London April 5, 2018 The first digitally-signed mortgage deed has been successfully entered into the national database, for a house in London. HM Land Registry said today that it was part of a process to improve the use of technology in transactions making them “instantaneous where possible”. Instead of requiring the homeowner to sign a pen-and-paper contract in the [...]
Shares in housebuilders including Taylor Wimpey, Barratt and Persimmon drop after Berkeley warns it can’t ramp up production March 16, 2018 Shares in housebuilders dropped this morning after Berkeley said today it would not be able to ramp up production of homes, as it remained hampered by planning constraints. Taylor Wimpey, Barratt and Persimmon were among the fallers this morning, taking an early dip after Berkeley’s trading update. Shares in Berkeley meanwhile dropped more steeply and [...]
Last Week in the City: Trump signs order for tariffs March 9, 2018 This week US President Donald Trump signed off on new tariffs on steel and aluminium imports, Trinity Mirror revealed plans to rebrand, and the European Central Bank took a further step towards ending stimulus measures. The FTSE 100 rose 1.9 per cent over the week by mid-session on Friday. Economics China will pursue annual growth [...]
UK mortgage lending rose in January February 26, 2018 Mortgage lending jumped in January as buyers raced to get ahead of looming interest rate rises – but mortgages for house purchase fell sharply. Borrowers took out mortgages worth £21.9bn in January, up 9.8 per cent on the same month the year before, according to data from UK Finance. However, while the number of people [...]
UK housebuilder Persimmon’s profits to jump to £1bn as firm moves past pay controversy February 25, 2018 Persimmon’s profits are expected to jump close to the £1bn mark this week as the housebuilder continues to bat off criticism for the pay awards it handed to executives. Analysts are expecting pre-tax profits to rise 25 per cent, up from £775m to £965m, when the firm announces its 2017 figures on Tuesday. The news [...]