Aldermore: We have outgrown challenger label April 2, 2014 ALDERMORE’S chief executive yesterday claimed the lender has outgrown the challenger bank label and is a now a well-established player in the market. The bank reported profits of £22.4m in 2013 yesterday, smashing its previous earnings of £1.5m in 2012. Its lending volumes soared by 64 per cent in the year to £3.4bn, which is [...]
Shock February drop in lending for mortgages March 31, 2014 MORTGAGE lending dipped during February, according to surprising official figures from the Bank of Lending, marking the first monthly drop in a year. There were 70,309 mortgages approved by financial institutions in February, down by more than 6,000 from January’s figure, which was the highest in six years, going back to the onset of the [...]
Mortgage approvals drop to lowest level since October March 31, 2014 Mortgage approvals down a touch, according to the Bank of England's latest release. Their number has fallen from 76,753 to 70,309. Economists had predicted that we'd see a drop to just 75,250. Last month's figure also reveals some weakness, as the latest estimate sees it revised down from 76,947 to 70,309. Steve Collins, global head [...]
What you need to know before the open March 31, 2014 European markets are expected to open higher this morning in wake of last week's gains. Investors hope that the European Central Bank will take a more dovish approach to monetary policy and China will take steps to counter economic slowdown. German retail sales rose by a better than expected 1.3 per cent in February. Corporate [...]
London Report: Mortgage lending data to shine light on housing boom March 30, 2014 MORTGAGE approval data for February, due out today, are likely to highlight more growth in the heated housing market. The figures will be closely watched after the Bank of England last week warned some borrowers may be overstretching themselves in the current fast-moving market. Purchasing Managers’ Index (PMI) data for manufacturing, construction and services published [...]
Carpetright cuts profits again as sales wear thin March 26, 2014 CARPETRIGHT issued its third profit warning in less than six months yesterday, saying that the recovery in the housing market has yet to reach its tills and lead to more people refurbishing their homes. The flooring specialist, whose boss Darren Shapland quit after its first October profit warning, said it now expected underlying pre-tax profit [...]
UK house prices see biggest jump since summer 2010 March 25, 2014 House prices rose 6.8 per cent compared with a year earlier – the biggest increase since August 2010 – and up from 5.5 per cent in December, according to figures from the Office for National Statistics. A Bloomberg poll revealed analysts expected a rise of 6.6 per cent. London led the increase, with prices up [...]
Crest Nicholson upbeat as house price rises reach home counties March 20, 2014 HOUSE prices in the home counties are starting to reflect the “ripple effect” from the sharp rise in London home values, Crest Nicholson said yesterday. The housing developer said this growth in the average selling price, together with the government’s Help to Buy scheme and the overall improvement in the economy meant sales for new [...]
Why this analyst believes time is running out to prevent a housing bubble March 7, 2014 Both the government and the Bank of England need to take urgent action to prevent the UK from entering into another housing boom, according to chief UK economist at Berenberg, Robert Wood. The warning comes after a host of data releases showing rapid increases in house prices across the UK. The Halifax house house price [...]
Brand Index: Hot housing market masks finance fear for many Brits March 4, 2014 THE LATEST figures from the YouGov/Cebr consumer confidence index show that the economic recovery is finally starting to move from a headline to a concrete reality for greater numbers of ordinary people. Champagne bottles are by no means being uncorked in large numbers, but there has been a steady increase in the percentage of people [...]