Mortgage approvals fall to July 2013 low June 2, 2014 Mortgages have seen another fall, dropping to 62,918 in April, from 66,563 in March, according to new figures from the Bank of England. That compares with an average of 70,132 over the previous six months. We had a good idea that we'd see that third monthly decline today. Timelier measures from the BBA saw mortgage [...]
What you need to know before the open June 2, 2014 European markets are expected to receive a boost this morning after postive Chinese manufacturing data lifted Asian markets Det Norske Oljeselskap ASA, a part-owner of Noway's largest offshore oil discovery in the last several decades, may move after agreeing to buy Marathon Oil Corp.’s local unit for $2.7bn. European equities rose 1.9 percent in May [...]
London Report: UK data to show economy is on path to recovery June 2, 2014 ECONOMIC indicators out this week are expected to show the UK recovery continuing at a healthy pace. PMI survey data for services, manufacturing and construction are likely to show strong growth throughout May. Blerina Uruci, of Barclays, expects services PMI to hit 60 in May, up from 58.7 and well above the 50 figure which [...]
Use of Help to Buy scheme picks up pace May 29, 2014 INTEREST in chancellor George Osborne’s controversial Help to Buy scheme is accelerating among buyers, even amid warnings that it is doing nothing to boost the UK’s supply of homes. Up to March, 7,313 applications for the mortgage guarantee part of the scheme had been approved. Demand was much stronger in the later months of the [...]
How rich are Help to Buy users? May 29, 2014 Today the Treasury released their figures on the use of the controversial Help to Buy scheme – specifically for the second (mortgage guarantee) part of the policy. It has been used 7,313 times so far – but Berenberg’s Rob Wood notes that the figures lean heavily towards more recent months. Only 818 mortgages were [...]
Full steam ahead at Nationwide as chief issues warning on housing market May 28, 2014 Nationwide has reported its best ever annual results, but has warned that the housing market may well start seeing a “natural correction”. “At some point buyers just start saying no”, said the mutual's chief executive, Graham Beale, to the BBC’s business editor Kamal Ahmed. The prognosis came as Nationwide reported that it opened 430,000 new [...]
April regulation clips lending to housing market May 27, 2014 THE NUMBER of mortgage approvals for house purchases in the UK fell for a third month in April, despite the overall recovery of the housing market during the last year. There were 42,200 mortgages approved last month, according to the British Bankers’ Association (BBA). The figure is down from 45,000 in March, and has fallen by [...]
BBA mortgage approvals for April miss expectations May 27, 2014 In April, the number of mortgages approved by the British Bankers' Association (BBA) fell to its lowest point in eight months, reaching 42,200. Analysts had expected the figure to reach 45,200. Recent data from the Bank of England has also showed a slowdown in household borrowing. However, house prices continue to surge, with the London experiencing [...]
What you need to know before the open May 27, 2014 After a day out of the loop yesterday, the FTSE will be playing catch up with European markets, which saw a strong session yesterday. The European and Ukraine elections don’t appear to have affected equities too much. Several bourses saw encouraging gains, with the Dax posting a record high. Eyes are still on European Central [...]
London Report: Help To Buy under the microscope as new data released May 27, 2014 HELP To Buy will be under the microscope again this week when the Treasury publishes data showing the impact of the second part of the controversial scheme to aid borrowers. Following fast-growing criticism that the mortgage guarantee element is fuelling a housing bubble, analysts will be keen to dissect the government’s figures on Thursday. More [...]