Bank mortgage approvals fall in 2010 January 26, 2011 The number of mortgages approved for house buyers by the UK’s main banks fell by ten per cent in 2010. The British Bankers’ Association (BBA) says its members approved just 400,000 mortgages in total. THe BBA said: “Mortgage demand was weak throughout the year. “Unsecured credit demand was also weak during last year, with net [...]
Bovis warns over weak mortgage volumes January 14, 2011 Bovis Homes expects full-year profit to come ahead of estimates on higher selling prices and plans to restart dividends, but the housebuilder warned of a subdued year ahead. “Mortgage approval volumes remain weak, with mortgage providers requiring high levels of deposit, particularly from first time buyers,” the company said in a statement. British homebuilders are [...]
Halifax: Modest decline in house prices signals price stagnation for coming year January 10, 2011 HOUSE prices dropped slightly in the final three months of the year, according to a Halifax study released yesterday. “Prices were 0.9 per cent lower than in the previous quarter,” said Halifax economist Martin Ellis. “This rate of decline is significantly less than the quarterly falls of five to six per cent during the second [...]
FTSE bounces in New Year rally January 4, 2011 POSITIVE economic news from across the globe saw a sharp rise in London stocks, with the FTSE jumping above the psychologically-important 6,000 barrier. It finished the day up almost two per cent at 6,013.87 – its highest close since the start of June 2008. And US markets also reacted positively after being reassured by the [...]
Mortgage approvals edge up January 4, 2011 MORTGAGE approvals unexpectedly increased to their largest number in four months in November, the Bank of England revealed yesterday. The Bank also released data on the money supply, with its favoured measure increasing by 0.2 per cent on the previous month, and 3.5 per cent year-on-year in the three months to November. And after a [...]
THE TIPSTER January 4, 2011 THE US dollar has risen for the second consecutive day against the yen thanks to increased optimism for the US recovery – factory orders are falling at a slower pace than expected and the labour market is also starting to show a glimmer of improvement. Following the latest fall in weekly jobless claims, analysts are [...]
Mortgage approvals in unexpected rise January 4, 2011 Mortgage approvals rose unexpectedly in November to their highest level since July, but unsecured consumer lending suffered its biggest monthly fall since August, Bank of England figures showed. The mortgage approvals figures chime with an unexpected rise in the Nationwide house price index in December, though activity is still much lower than 12 months earlier [...]
Mortgage approvals slump to 20-month low December 23, 2010 The number of mortgages approved bymajor UK banks fell to a 20-month low in November, figures have shown. Only 29,991 of these home loans were approved during the month, the British Bankers’ Association (BBA) said. Meanwhile consumers’ debt repayments on credit cards and overdrafts continued to outstrip new borrowing. The BBA figures show that net [...]
Mortgage lending slumps to lowest point for a decade December 20, 2010 MORTGAGE lending has sunk to its lowest level since 2000 for five consecutive months, it was revealed yesterday. In November lending dropped by five per cent to £11.1bn compared to the previous month, according to the Council of Mortgage Lenders (CML). A huge 10 per cent drop from last year’s November figures is partly accounted [...]
ANALYST VIEWS: WHAT NEXT FOR THE PROPERTY MARKET? December 19, 2010 ALAN CLARKE | BNP PARIBAS “I think it will be a year of two halves – a modest decline in prices in the first half, ending about five per cent down by mid-year: not too terrible. The market will then have bottomed out and start to regain ground.” YOLANDE BARNES | SAVILLS “London has slowed [...]