Don’t panic – but remember Brexit will be a tough political process March 15, 2017 Everyone benefits from free trade. For years now the UK has had a persistently large trade deficit with the EU, which by rights should make Europe more amenable to doing a “business as usual” Brexit deal with us. If only life were so logical our Brexit negotiations would run smoothly and full future access would [...]
Estate agent Countrywide’s share price tumbles as profits fall by more than half March 9, 2017 Shares in the UK's largest estate agent have tumbled after it admitted pre-tax profit plummeted by close to 60 per cent last year. Read more: Estate agents Savills warns current UK house price growth is unsustainable The figures Countrywide, the company behind high street estate agency brands including Bairstow Eves and Hamptons International, said today its [...]
UK housebuilders’ shares rise as mortgage approvals hit highest level since February last year March 1, 2017 Housebuilders' share prices rose today after figures from the Bank of England showed that in January mortgage approvals hit the highest level since February 2016. The Bank reported a 2.4 per cent month-on-month rise in January, bringing the number of mortgages to 69,928. Read more: UK house prices rose by just £600 last month This [...]
Mortgage lenders have just had their best January since 2008 February 23, 2017 Mortgage lending hit £18.9bn in January, new figures have shown – two per cent up on the same month last year, and the best January since 2008. The Council of Mortgage Lenders (CML) said the figure was down six per cent on December's £20bn – but added that the number of first-time buyers had continued [...]
The UK’s construction industry started 2017 on a high February 16, 2017 The UK's construction industry started the year strongly as housebuilding dominated activity. The value of new building contracts rose to £6bn in January, according to analysts Barbour ABI, with London accounting for over a quarter of contract value. The capital was boosted by the One Nine Elms project in Vauxhall, the most valuable development in [...]
It looks like UK house price growth is getting its mojo back February 14, 2017 Are house prices bouncing back from their Brexit blip? UK house price growth ticked up to 7.2 per cent in December, official figures showed today – the highest annual growth rate since August last year. The Office for National Statistics' (ONS) UK house price index showed the average price rose to just under £220,000 in [...]
Millions are risking credit rejection thanks to exes with poor financial histories February 13, 2017 A clean break from an ex-partner can be easier said than done… And now, new research from credit checking firm ClearScore has found that millions of Brits risk being turned down for mortgages and other financial products, because they’re unknowingly still tied to ex-partners with poor financial histories. Once you’ve made the step to take [...]
Mortgage approvals hit a nine-month high in December January 31, 2017 The Bank of England's mortgage borrowing hit a nine-month high in December as the housing market recovered from the lull it experienced in the months after the Brexit vote. At 67,898, the number of mortgage approvals for house purchases increased 10.7 per cent from the low (61,335) it hit in August. Read more: I can't help but [...]
Mortgage lending hit a nine-month high in December January 26, 2017 Mortgage approvals hit a nine-month high in December, and overall in 2016, gross mortgage lending increased 12 per cent. Figures from the British Bankers Association show that gross mortgage borrowing increased by 3.6 per cent year-on-year in December, reaching £12.6bn, with remortgaging approvals jumping 30 per cent to their highest level since October 2008. Read more: Restaurateur [...]
Startup taking the hassle out of mortgages, Habito, has landed millions in new funding January 23, 2017 A property technology startup which helps find homebuyers the best deal on their mortgage online via a chatbot has raised a new multi-million pound round of funding to support its growth, City A.M can exclusively reveal. Habito, already backed by seed capital from the entrepreneurs behind Transferwise and Funding Circle, has landed a further £5.5m of cash led by [...]