September mortgage approvals well behind 2015 levels but edge up on August numbers October 31, 2016 UK mortgage approvals flopped nearly 10 per cent in September compared to last year, the Bank of England reported this morning. Although the figures did bounce back from the 19-month low recorded in August, the 62,932 approvals were well behind the 69,619 recorded in September 2015. Read more: Time to remortgage? Fixed rates are low, but watch out [...]
Time to remortgage? The rates on two-year fixed deals are very low, but watch out for additional fees October 27, 2016 Brexit has been kind to mortgage holders. As the Bank of England’s interest rate has come down, banks have been able to borrow more cheaply, allowing competition to increase and mortgage rates to fall. Borrowers have been quick to take advantage of the deals on offer; in August, the number of people remortgaging hit a [...]
Mortgage approvals fell 15 per cent in September October 26, 2016 The number of mortgages approved by high street lenders fell 15 per cent in the year to September, figures published today showed. The British Bankers' Association said the number of mortgages given approval hit 71,738 in September – up from 69,499 in August. But the figure was down on the 74,252 six-month average, and three per cent lower in [...]
Government to ditch £15.7bn worth of Bradford and Bingley mortgage assets October 25, 2016 The government confirmed today it has kicked off the process of selling £15.7bn worth of Bradford and Bingley mortgage assets. The sale, which will be conducted by UK Asset Resolution Limited (UKAR), will allow Bradford and Bingley to repay money it owes to the Financial Services Compensation Scheme, which will, in turn, repay a corresponding loan to the Treasury. [...]
Barclays ditches more of its non-core assets in Italy October 12, 2016 Barclays has today agreed to sell a portfolio of salary secured loans, worth around £260m, in Italy to IBL Banca. The final sale is still subject to regulatory approvals but is expected to take place in the first quarter of 2017. The sale will also reduce the bank's non-core risk weighted assets by roughly £170m. "Last week we announced agreements to [...]
This is how far London house prices fell in the third quarter October 12, 2016 London's house prices have underperformed in the third quarter as the capital recovered from the shock of the Brexit vote and the uncertainty afterwards. House prices fell 2.5 per cent in the third quarter, following on from a 0.5 per cent fall in the second quarter, according to data from Halifax and IHS Markit. London's decline compared [...]
This is how sterling’s unstoppable slide will affect UK house prices October 12, 2016 After a freak six per cent fall when markets opened in Asia last week, sterling is in free fall. The fall obviously has implications for people going abroad – but what about people here at home? We asked the experts what the flash crash will do to UK house prices. Read more: This is how the [...]
House prices edged up in September as the market recovered from the initial Brexit hit October 7, 2016 House prices fell 0.1 per cent in the three months to September as compared to the previous quarter, according to Halifax – but they edged up month-on-month. There was a 0.1 per cent increase in property values between August and September, following two months of house prices falling. Year on year growth hit 5.8 per cent. Read more: [...]
House prices in Chelsea have fallen by 10 per cent this year October 6, 2016 House prices in Chelsea have fallen by 9.8 per cent annually, according to Knight Frank. Overall, prices for high-end homes in central London fell by 2.6 per cent in September, the estate agents said. Read more: House prices under threat in Tower Hamlets due to rapid building and Brexit There were marked regional differences in prices [...]
Starting gun fired to restart sale of billions of pounds of distressed mortgages October 4, 2016 The government is preparing to put a multi-billion pound portfolio of mortgages it manages on behalf of failed lender Bradford & Bingley back on the market. UK Asset Resolution (UKAR) – whose role is to flog mortgages written by doomed lenders that include Bradford & Bingley and Northern Rock – signalled an end to its Brexit break by circulating non-disclosure agreements to prospective buyers. Read [...]