UK house prices: The return of cheap housing finance? Chelsea Building Society unveils the first tracker mortgage to be launched with an interest rate lower than one per cent June 5, 2015 When the sub-prime mortgage bubble burst, everyone blamed cheap borrowing – but that clearly hasn't perturbed the Chelsea Building Society, which today unveiled the first ever tracker mortgage launched with an interest rate below one per cent. To be fair, housebuyers who want to borrow under the scheme need to meet pretty stringent restrictions, including [...]
UK house prices drop in May: Tug of war as high price-to-earnings ratios and a lack of supply affect market June 4, 2015 UK house prices dropped for the first time in three months this May, according to data from Halifax. The market is feeling the effects of a tug of war as a lack of supply drives prices higher, stretching finances and affecting sentiment. The figures On a monthly basis – the most volatile measure – house [...]
UK house price growth slows to lowest rate in over a year June 3, 2015 UK house price growth slowed in May, with the annual growth rate slowing to an annual rate of 4.6 per cent in May – down from 5.2 per cent in April and the lowest rate since August 2013. The figures The average cost of a house in the UK now stands at £195,166 – the [...]
Mortgage approvals jump in April June 2, 2015 THE NUMBER of mortgage approvals granted for new homes in April shot up at its fastest rate since 2009, but lending to firms is struggling to gain momentum. There were 68,076 mortgages granted for house purchase in April, the Bank of England said yesterday. It marked a 9.9 per cent jump on March’s 61,945. “One [...]
UK house prices: Mortgage approvals have their biggest spike since April 2009 June 2, 2015 The number of mortgages granted in April for new homes grew at its fastest rate since April 2009, according to data from the Bank of England. The figures Some 68,076 mortgages were granted in April for house purchase, compared with 61,945 in March – an increase of 9.9 per cent – the biggest monthly percentage change [...]
Reports reveal services leading the UK recovery – London Report May 31, 2015 THE UK service sector is once again expected to be the star turn as purchasing managers (PMI) reports this week show continued economic growth. Figures due out on Wednesday are expected to show the sector held up well in May, remaining stable at 59.5 (with 50 and above denoting growth) after rising to this level [...]
UK house prices: Are low deposit mortgages propping up the housing market? May 14, 2015 The number of people buying houses with low-value deposits has risen by 7.3 per cent in the last year, according to data analysis by chartered surveyors e.surv. The figures Lending to borrowers who have only small deposits (15 per cent or less of the property’s value) accounted for 16.3 per cent of house purchases in April, [...]
RBS makes quarterly loss of £446m after more cash earmarked for forex scandal costs April 30, 2015 RBS has slumped to a quarterly loss after it joined Barclays in earmarking more cash to stave off potential payments over the forex scandal. The Figures For the three months to the end of March, RBS posted a loss of £446m, a big swing from the £1.2bn profit it made in the same quarter last [...]
Entrepreneur David Johnson is building an empire in the British Virgin Islands to rival Richard Branson’s Necker April 30, 2015 When Sir Richard Branson arrived in the British Virgin Islands, he was sufficiently smitten that he bought his own island, Necker. It’s easy to see why. This Caribbean tropical paradise enjoys a sunny season stretching to 10 months of the year, while gentle waves from a clear blue sea lap the BVI’s many sandy beaches. [...]
Nationwide House Price Index: UK house prices hit a new record high April 29, 2015 UK’s house price growth rose by an annual rate of 5.2 per cent in April, a small rise from March’s figure of 5.1 per cent. This put the average cost of a house in the UK at £193,048, the highest since records began. The figures According to data from Nationwide, UK house prices rose one per [...]