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. [...]
FTSE flat after Slovak vote blow October 12, 2011 The FTSE 100 was flat this morning after Slovak lawmakers rejected a plan to expand the Eurozone rescue fund and the US earnings season kicked off with disappointing results. Slovakia’s decision rattled world markets as the plan — which would see Greece saved from economic abyss through new loans — is central to hopes that [...]
House prices rise in August October 11, 2011 House prices rose by 0.6 per cent on a seasonally adjusted basis in August, the biggest rise since March, government data showed. The Department of Communities and Local Government said house prices were 1.3 per cent lower than a year earlier, the smallest annual fall since April, and taking the average price of a home [...]
Euro deal on hold as Dexia is saved October 9, 2011 NEGOTIATIONS between the Eurozone’s biggest economies appeared to have stalled yesterday as France and Germany refused to detail how they will recapitalise the region’s teetering banks. A highly anticipated meeting yesterday resulted in a bland statement by German chancellor Angela Merkel that politicians “are determined to do the necessary to secure the recapitalisation”, which the [...]
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 [...]