UK mortgage approvals just fell to an 11-month low June 30, 2014 UK mortgage approvals fell to an 11-month low of 61,707 in May, according to the latest data from the Bank of England. That's considerably down from April's 62,806 approvals. That figure has been downwardly revised from an initial estimate of 62,806 approvals last month. Mortgage approvals have been trending downwards since hitting a 74-month high [...]
London Report: Mortgage lending down but price of houses still rising June 29, 2014 MORTGAGE approval numbers are expected to fall to a 10-month low of 62,000 for May, after the introduction of tough new rules in the Mortgage Market Review (MMR) in April. Howard Archer, of IHS Global Insight, said: “This would be down from 62,918 in April, 66,563 in March and a 74-month high of 75,838 in [...]
Bankers report anaemic rise in business loans June 24, 2014 LENDING to businesses is rising sluggishly while the latest mortgage lending figures showed yesterday that the new regulatory efforts are helping to cool the growth of credit for housing. Figures from the British Bankers’ Association (BBA) indicate that business lending has barely budged from its position a year ago, rising by only 0.3 per cent, [...]
Letters to the Editor – 25/06 – Mansion taxes, Best of Twitter June 24, 2014 Mansion taxes [Re: Balls unveils mansion tax and promises to hit the rich hardest, yesterday] While I agree that the purchaser of the £140m flat in Westminster ought to pay more tax than the inhabitants of an average-value property in the area, I disagree with the arguments put forth by Ed Balls regarding his mansion [...]
Mortgage approvals fall on introduction of tighter lending rules June 24, 2014 Mortgage approval rates showed an overall drop in the month of May, according to new data. Figures from the British Bankers' Association show that the combined figure of loans for purchase, for remortgage and other secured lending, was down both on last month and on May of last year. The fall is a relatively small [...]
House lending steady in June after new rules June 19, 2014 MORTGAGE lending held steady in June, with a new set of mortgage regulations helping to cool off the rapid growth of housing credit, according to the Council of Mortgage Lenders (CML). During May, £16.5bn was issued in credit, only £8m less than was approved in April. Lending is still up 12 per cent on May [...]
House prices rise five times faster than expected June 5, 2014 House prices rose by 3.9 per cent in May, according to data from Halifax. Analysts had been expecting prices to rise by just 0.7 per cent this month. IHS Global Insight's Howard Archer says the increase "is a real bolt from the blue and at face value unsettling for policymakers." Values in the three months [...]
UK industry and lending point to broader growth June 2, 2014 DATA released yesterday indicated a broad-based UK recovery, with British manufacturers growing apace, as figures on the housing market suggest recent regulatory changes have dampened a concerning upswing in mortgage lending. Markit and the Chartered Institute of Purchasing and Supply (CIPS) announced a figure of 57 for their purchasing managers’ index (PMI) in May, the [...]
London Report: Chinese factory figures see FTSE shares edge up June 2, 2014 BRITAIN’S top share index inched higher yesterday as upbeat Chinese factory data lifted mining stocks and as homebuilders shrugged off worse-than-expected mortgage approval figures in the UK. The blue-chip FTSE 100 index closed up 0.3 per cent, or 19.59 points, at 6,864.10 points. Mining stocks across Europe, including London-listed Rio Tinto and BHP Billiton, rose [...]
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 [...]