UK mortgage approvals hit six-year high January 3, 2014 Data released by the Bank of England show that the number of mortgages approved in November rose to 70,758 – the largest number in almost six years, although still far lower than figures pre-recession. Expectations were for 69,000, and the number of approvals beat October's 67,701, providing more evidence of a rapidly growing housing market. [...]
UK mortgage approvals at highest in six years January 3, 2014 Data released by the Bank of England show that the number of mortgages approved in November rose to 70,758 – the largest number in almost six years, although still far lower than figures pre-recession. Expectations were for 69,000, and the number of approvals beat October's 67,701, providing more evidence of a rapidly growing housing market. [...]
What you need to know before the open – 03/01 January 3, 2014 A quiet and steady open is expected for European markets today, as significant data releases remain thin on the ground. US markets closed lower after their first day of trading in 2014, following data that suggested a slowdown in Chinese and US manufacturing expansion. From ETX Capital: At 0430 BST today, FTSE 100 futures are [...]
Mortgage loans to reach £170bn mark for 2013 December 19, 2013 MORTGAGE lending dipped slightly during November, down £600m from the previous month, despite a surge over the past year. According to the latest estimate from the Council of Mortgage Lenders (CML), gross mortgage lending dipped to £17bn last month, but stayed 30 per cent higher than the figure in November 2012, demonstrating how much more [...]
Letters to the Editor – 18/12 – Airport capacity, End of teaching, Best of Twitter December 17, 2013 Airport capacity [Re: Boris Island misses out on new runway shortlist, yesterday] An airport at the Thames Estuary is the most logical option, and it is disappointing that the proposal was excluded from the Davies Commission’s shortlist yesterday. We need to accept that the alternatives present too many complications. The political and environmental obstacles to Heathrow [...]
London Week Ahead: UK’s Christmas gift of boost to GDP and jobs December 15, 2013 FURTHER evidence that the recovery is gaining traction is expected this week with inflation figures and the release of the employment rate, which may top 30m for the first time ever. While the inflation rate, measured by the consumer prices index (CPI), is forecast to remain at 2.2 per cent – the lowest since September [...]
Why critics of banks on SME lending could be grossly missing the point December 4, 2013 THE GLASS is too often half empty in the great debate on bank lending to small and medium-sized enterprises (SMEs). But are some of the loudest voices not seeing the full picture? It’s hardly difficult to find critics suggesting that SMEs have little chance of securing a bank loan. So you may be surprised that [...]
Letters to the Editor – 02/12 – More runways, Islands dispute, Best of Twitter December 1, 2013 More runways [Re: Our innovative Heathrow plan could expand capacity without huge costs, Friday] I think Jock Lowe’s Heathrow Hub plan is a good idea. I do, however, also think that a second runaway should be built at both Gatwick and Stansted airports. Boris Johnson’s Thames Estuary plan is not going to happen – the [...]
What you need to know before the open – 29/11 November 29, 2013 European markets saw another positive day yesterday, despite concerns over the strength of recovery in the euro area. The Dax continued to make record highs during trading. Data-wise, German retail sales missed expectations this morning, whilst UK house prices have climbed at their fastest rate for three years. French consumer spending fell 0.2 per cent in [...]
The top seven changes from Carney’s report November 28, 2013 1 This is the first sign of tightening – or at least withdrawing stimulus – from the Bank of England since the crisis began, showing some parts of the economy heating up. 2 The Funding for Lending Scheme has been scrapped for mortgages. That means banks will no longer get access to cheap funding when [...]