Banks drag FTSE down as UniCredit prices at discount January 4, 2012 CONCERNS over the Eurozone sent Britain’s top shares into reverse yesterday after the previous session’s sharp gains, as Italian lender UniCredit priced a rights issue at a huge discount, and a German bond auction failed to excite. The FTSE 100 fell 31.46 points, or 0.6 per cent, to 5,668.45, albeit in light volume, at 79 [...]
RENT December 15, 2011 HEAD OF RENTALS AYLESFORD INTERNATIONAL Q. I’m a homeowner with a property in central London – despite the fact that this area isn’t directly affected by the Olympics, I am keen to capitalise from the influx of tourists coming to London in the summer, but where do I start? A. Many homeowners across London are [...]
UK mortgage approvals jump December 8, 2011 Loans for home purchases hit their highest since December 2009 in November, according to data out today from e.surv chartered surveyors, thanks largely to loose mortgage conditions. Purchase approvals rose from 52,743 in October to 54,658 in November on a seasonally adjusted basis – an increase of four per cent, and 15 per cent higher [...]
Bank of America agrees $315m Merrill Lynch settlement December 6, 2011 Bank of America has agreed to pay $315m to settle claims from investors who said they were misled by Merrill Lynch when they bought mortgage-backed securities in the run-up to the financial crisis. The settlement is one of the highest ever agreed against a bank over the mis-selling of the securities, which were shown to [...]
UK mortgage approvals are on the rise November 29, 2011 BRITISH mortgage approvals edged up more than expected to their highest in nearly two years last month, but the overall picture for lending remained well below pre-crisis levels and the outlook appears set to darken. The Bank of England said approvals for home loans – a gauge of house prices in six months’ time – [...]
Approvals on UK mortgages in shock jump November 23, 2011 HIGH street banks unexpectedly increased their number of mortgage approvals last month, the British Banking Association (BBA) said yesterday. “Reports suggest that some activity may relate to growth in the buy-to-let market as rental yields improve,” the BBA said in its report. Mortgage approvals came in at 76,042, up from 73,334 the previous month. The [...]
BUY November 3, 2011 DIRECTOR OF ESTATE AGENT DOUGLAS & GORDON Q.We’ve been offered a flat but the lease is less than 80 years. Should we avoid buying a short lease? A.The explosion in flat conversions sold off on 99-year leases in the 1980s has meant many of these flats now have leases approaching or below 80 years. In London, [...]
House prices edge up in a soft market November 1, 2011 HOUSE prices nudged up last month, beating expectations for no change, driven by sales in more affluent areas, data from mortgage lender Nationwide showed yesterday. House prices rose 0.4 per cent in October having risen 0.1 per cent in September, pushing them 0.8 per cent higher than a year ago, the first time annual house [...]
Stats hint at a drop in UK house prices October 31, 2011 MORTGAGE lending slipped for the second straight month in September, the Bank of England revealed yesterday, while a separate study released this morning exposes dwindling confidence in the likelihood of house prices holding up. More people expect house prices to fall over the next year than those expecting any rise, a survey by the Halifax [...]
Bank lending on mortgages is on the rise October 25, 2011 MORTGAGE lending rose over the twelve months to September, according to figures out yesterday from the British Bankers’ Association, though at a slowing rate. Growth of 1.6 per cent was recorded in net mortgage lending over the last year. Gross mortgage lending came in seven per cent higher in September than a year ago, at £8.4bn. [...]