Mortgage approvals up September 29, 2011 The number of new mortgages approved, but not yet lent, for home buyers in August rose to its highest level since December 2009, according to figures from the Bank of England. It said 52,410 mortgages were approved last month. That was nearly three thousand more than in July, and the highest number since December 2009. [...]
ANALYST VIEWS: WILL CONFIDENCE BOUNCE BACK SOON? September 25, 2011 SAMUEL TOMBS | CAPITAL ECON “No – conditions may be deteriorating further. We expect figures from surveys like the CBI’s Distributive Trades Survey, which comes out in the UK tomorrow, to maintain the gloomy tone. And while August’s household borrowing figures, released this Thursday, may reveal a rise in mortgage approvals, we predict a fall [...]
Mortgage approvals at 15-month high September 23, 2011 Mortgage approvals in August were at their highest since May 2010, according to the British Banking Association’s monthly report on High Street Banking. The number of mortgages sold was 14 per cent higher than the same month last year, with an average value of £145,500, an increase of 1% year-on-year. The report suggests the figures [...]
Mortgage lending highest since July 2009 September 20, 2011 Gross mortgage lending in Britain last month rose to its highest level in more than two years, rebounding from July’s weak reading to stand 10 percent higher than a year ago, the Council of Mortgage Lenders said. Gross mortgage lending in August came in at an estimated £13.4bn, up from £12.6bn in July and £12.1bn [...]
Bank: asset bubbles may have skewed GDP figures September 18, 2011 THE HOUSING boom and other changes in asset prices could have led statisticians to overestimate the contribution of financial services to GDP, according to the Bank of England’s quarterly bulletin, out today. As the sector grew twice as fast as the economy as a whole, its position as a driver of growth is not in [...]
Housebuyers struggle to get loans in London September 8, 2011 HOUSEBUYERS across the country were buoyed by higher levels of purchase approvals in August, the surveyors’ group E.surv said yesterday. Approvals were up 4.3 per cent on August 2010 and hit a 15-month high. However, Londoners missed out on the boost, with approvals dropping by 10 per cent compared with July’s figure. That is because [...]
Redrow profit tops forecasts September 8, 2011 Housebuilder Redrow has posted full-year pre-tax profit ahead of expectations, thanks to a ten per cent rise in selling prices, but warned the outlook for the property market is challenging. Redrow, one of the smaller listed volume housebuilders, made £25.3m pre-tax profit in the year to the end of June, compared with £0.7m in 2010 [...]
House prices fall in August September 1, 2011 House prices suffered an unexpected fall last month, dropping at their fastest pace since October last year, data from mortgage lender Nationwide showed on Thursday, reinforcing the subdued outlook for the property market. Nationwide said that house prices fell by 0.6 per cent in August, reversing a revised 0.3 per cent rise in July, and [...]
BofA shares slide on fresh lawsuit fears August 30, 2011 BANK of America Merrill Lynch saw its shares fall again yesterday over a backlash against its plan to settle $8.5bn (£5.2bn) of mortgage disputes. The Federal Deposit Insurance Corporation, which manages failed US banks, and dozens of other investors objected to BofA’s plan to resolve huge claims from investors sold subprime bonds by mortgage lender [...]
Mortgage approvals pick up but consumer loans lose pace August 30, 2011 LENDERS approved the highest number of mortgages since May 2010 last month, but growth in consumer borrowing slowed more severely than expected, according to Bank of England figures. The Bank said 49,239 mortgages were approved in July, rising from an upwardly revised 48,500 in June. Gross lending secured on dwellings stood at £11.3bn last month, [...]