UK Mortgage approvals at ten-year low October 25, 2010 MORTGAGE lending fell to its lowest level in a decade in September, the latest figures from the British Banker’s Association (BBA) showed yesterday confirming earlier figures produced by the Council of Mortgage Lenders (CML) last week. Gross mortgage lending stood at £8bn last month, 10.8 per cent lower than a year earlier. The number of [...]
Mortgage lending remains “subdued” October 25, 2010 The latest figures from UK’s major banks have said that budget uncertainties had contributed to a subdued mortgage market. The downward trend spiral continued in September, the British Bankers’ Association (BBA) said. The number of mortgages approved for house purchases fell slightly compared with the previous month to 31,104, as low demand for new loans [...]
FTSE opens higher ahead of key data October 25, 2010 The FTSE 100 rose on opening this morning with heavyweight miners likely to be buoyed by a softer dollar after the Group of 20 major economies agreed to avoid competitive currency devaluations. The blue chip index looks set to gain 43 to 48 points, or as much as 0.8 percent, according to financial bookmakers, after [...]
West LB’s bad bank records €1bn in losses October 7, 2010 GERMANY’S first bad bank, WestLB’s EAA, posted risk provisions of €1.44bn (£1.2bn) for its 2010 fiscal year and expects more to come as its markets show little signs of recovery. EAA (Erste Abwicklungsanstalt) posted a net loss of €1.05bn in its shortened fiscal year from December 2009 to June 2010, co-head Matthias Wargers said yesterday. [...]
Tesco plan to sell mortgages delayed by FSA October 3, 2010 TESCO’S plans to sell mortgages in Britain could face a delay because it has yet to receive approval from the country’s financial services watchdog. “The FSA (Financial Services Authority) is just being careful. It is a new process and it is very difficult,” a Tesco spokesman said. He declined to comment on a report in [...]
Borrowing dip in August September 29, 2010 MORTGAGE approvals fell in August to their lowest level in six months, while consumers also chose to continue to pay down debts, the latest figures from the Bank of England (BoE) showed yesterday. The Bank said 47,372 mortgages were approved in August down slightly from the July figure of 48,619. Meanwhile, approvals for remortgaging stood [...]
Mortgage approvals drop September 29, 2010 Mortgage approvals for house purchase fell to a seven-month low in August and net consumer credit unexpectedly contracted, official data showed. The Bank of England said mortgage approvals numbered 47,372 in August, down from 48,346 in July and broadly in line with analysts’ forecasts and a weaker industry survey last week. Consumers unexpectedly made a [...]
The housebuilding chief executive who can see clear blue skies ahead September 26, 2010 FOR A MAN who took over a housebuilder in the middle of a devastating financial and property crisis, David Ritchie, the chief executive of Bovis Homes, looks remarkably relaxed. But it is certainly fair to say the pain has eased in recent months for the firm, even though Ritchie remains in the middle of turning [...]
Mortgage approvals slump September 23, 2010 The number of loans approved for buying houses fell in August to its lowest since the housing market trough in 2009, industry data showed yesterday, suggesting housing market weakness is set to continue. Mortgage approvals are a good indicator of house price trends around six months down the line, and the figures chime with data [...]
Mortgage approvals drop as housing market stalls September 23, 2010 The number of mortgages approved by banks for home buyers dropped in August for the third month in a row. Banks approved 31,767 home loans down from 34,219 in July, the British Bankers’ Association (BBA) said. The figures are another indication that the UK property market has stalled. A raft of data has shown that [...]