House lending bounces as regulation squeeze eases July 29, 2014 Lending for house buyers is bouncing back after a knock from new regulations, as figures yesterday confirmed the biggest increase in mortgage approvals since 2008. There were 67,196 mortgages for house purchases approved in June, according to the Bank of England – a rise of more than 5,000 from May, and the fastest for five [...]
In graphs: Mortgage approvals rise in June even as London house prices drop July 29, 2014 The discussion around the UK property market was given an added element of confusion today as mortgage lending statistics for June beat expectations. In its Money and Credit report, the Bank of England shows that the number of mortgages approved for house purchases was up to 67,196 in June, above the 62,007 seen in May [...]
CNBC Comment: Why UK banks aren’t riding the recovery July 28, 2014 THE TIES between Britain’s banks and its economy have always been close. But they have seemed even closer in the post-banking bailout era. On Friday, when RBS rushed out its second quarter results a week early (which was rather odd in itself – don’t companies usually only rush out results if they’re either worse than [...]
As Halifax reports buyer confidence slipping, is the housing market finally cooling down? July 28, 2014 Howard Archer, chief European and UK economist at IHS Global Insight, says Yes. It’s not guaranteed that current signs that the housing market is cooling will prove lasting, but house price growth has likely peaked. The new regulations under the Mortgage Market Review have clearly had at least a temporary effect in taking some steam [...]
In graphs: London house prices no longer the fastest growing in the UK July 28, 2014 The Land Registry has released new data on house prices in England and Wales and the figures show the market is cooling. The average across England and Wales shows that prices are stagnant – showing no change at all. The average selling price for a house in England and Wales during June was £172,011: a zero per [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
House lending bounces back after new rules July 23, 2014 MORTGAGE approvals were on the rise again in June, according to figures released yesterday, following the onset of a new bundle of regulations earlier this year. There were 43,265 mortgages approved for borrowers buying houses last month, according to the British Bankers’ Association (BBA). This is up from May’s figure, but below the average of [...]
In graphs: UK mortgage approvals on the increase July 23, 2014 The number of mortgage approvals rose in June despite tighter lending restrictions and indications that the housing market might be cooling slightly. Analysts had expected a slight fall and a total number of 41,375. Instead, the seasonally-adjusted data from the British Banker's Association (BBA) shows that the number of approvals for house purchases was up [...]
UK mortgage approvals drop to 11-month low as market cools June 30, 2014 Bank of England figures confirmed yesterday that mortgage approvals dropped to an 11-month low in May, even as the actual amount of lending secured against property rose to the highest level since mid-2008. There were 61,707 applications approved during the month, a drop of more than 1,000 from April and down from the 75,901 in [...]
Letters to the Editor – 01/07 – Not a new normal, Best of Twitter June 30, 2014 Not a new normal [Re: Is Mark Carney right that the “new normal” for interest rates will be 2.5 per cent?, yesterday] Mark Carney has pointed to financial market expectations to support his assertion that the “new normal” for rates will be around 2.5 per cent. He is wrong. Financial markets do not forecast the [...]