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 [...]
Banks point to small drop in mortgage lending in October November 25, 2013 THE NUMBER of mortgages approved by the UK’s banks dipped in October for the first month since February, despite a huge increase in the last 12 months. Data released by the British Bankers’ Association yesterday shows that approvals have exploded since October 2012, with lending up by a third in the past year alone. The [...]
UK mortgage approvals see shock fall in October November 25, 2013 Mortgage approvals have fallen by around 1,400 in October, despite economists forecasting that they would rise by 2,200 in the month. BBA data shows approvals down from 43,000 to 42,800 (45,200 expected). In the year to date, mortgage approvals have climbed by 33.4 per cent. Adrian Anderson, director of mortgage broker Anderson Harris, says that [...]
What you need to know before the open – 25/11 November 25, 2013 European markets are expected to rise this morning after gains in Asia and another record finish in the US. Sentiment has also received a boost from the deal with Iran regarding its nuclear programme. Brent crude prices started the week down 2.5 per cent. Morning all. There's a bit going on early doors. Could [...]
London Report: Water firms to show how well profits flowing November 24, 2013 THE FTSE 100’s latest female executive, Liv Garfield, will get an idea of what she’ll face when she joins Severn Trent next year as her new employer announces interim results, along with Pennon and United Utilities. The three, who have been called on by regulators to stop planned price hikes, are expected to have increased [...]
Experian shares slump after US health purchase November 6, 2013 EXPERIAN shares fell 6.4 per cent yesterday after the credit-checking group said it plans to spend $850m (£528m) on a US healthcare business, as it revealed subdued growth in the last six months. The firm said Passport Health Communications, which offers admin and credit checks to US healthcare providers, will help it expand in new markets [...]
Slowdown in US mortgage applications November 6, 2013 The number of mortgage applications in the US fell last week by seven per cent, according to the Mortgage Bankers Association (MBA). The fall came after a 6.4 per cent increase in applications the previous week and signifies, says Capital Economics, "further evidence of a moderation in the rate of the housing recovery." Ed Stansfield, [...]
Recovery may be start of boom bust cycle says Berenberg November 1, 2013 The UK recovery is showing disturbing signs of mirroring the pre-crash economy, fuelled by consumer spending and easy credit, according to a Berenberg research note. The bank draws attention to the worryingly low savings rates in the UK which are being further depleted, giving some temporary boost to the economy. A similar situation prevailed in [...]
Consumer lending in September was more than double what was reported October 31, 2013 A correction to Bank of England data has shown that unsecured lending in September was over double what was reported. Consumers borrowed money at the fastest rate since early 2008 in the three months to September, revised data from the Bank of England showed today. The news intensifies concerns that the UK's recovery is reliant [...]
Carney: Houses drive recovery October 29, 2013 BRITAIN’S economic recovery is based on the housing boom, Mark Carney said yesterday. “Right now in the UK as a whole the recovery is being led by the housing sector,” the Bank of England governor told the Western Mail. But he added that the market is not in a bubble, and that the Bank will [...]