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 [...]
Mortagage lending falls in August September 20, 2010 Gross mortgage lending fell six per cent year-on-year in August to £13.3bn, the Council of Mortgage Lenders has said. That was the lowest August total since 2000 and represented a drop of 14 per cent from July. The figures chimes with other surveys in showing a cooling in the housing market following a sharp recovery [...]
Set your trades on firm foundations September 19, 2010 HOUSE asking prices fell again today, dropping by 1.1 per cent – that is £2,474 – over two points in the house price spread better’s mind. But those tempted by the news on page one should not rush into a trade before taking a moment to contemplate the make up of the index. Today’s figures [...]
Halifax shocks bears with rise in house prices September 8, 2010 HOUSE prices rose for the second month running in August, mortgage lender Halifax said yesterday, confounding expectations for a fall though it still expected house prices to stagnate overall this year. House prices rose 0.2 per cent in August, Halifax said, which, coming after a 0.7 per cent rise in July, had helped to reverse [...]
FSA fines and censures two mortgage brokers for fraud August 31, 2010 THE FINANCIAL Services Authority (FSA) has banned one mortgage broker and fined another for committing “reckless business practices”, which it said led to false and misleading mortgage applications made to lenders. Ngozika Louise Ogboru, who ran Harrow based JN Finance UK, has been banned by the financial watchdog after it found that advisers at her [...]
Weak housing loans point to a price slump August 31, 2010 JUST 48,700 mortgages were approved in July, according to data published yesterday by the Bank of England, raising fears that the UK housing market is at best drifting sideways and at worst heading for a double-dip recession. Although the small rise was better than the dip to 46-47,000 that the market had expected, economists were [...]
FTSE gains ground as mining shares are lifted by US data August 31, 2010 BRITAIN’S top shares closed up yesterday as miners gained on firmer US economic data which eased investor anxiety on the global economic recovery, while ARM Holdings jumped on renewed takeover talk. The FTSE 100 gained 23.66 points, or 0.5 per cent at 5,225.22, adding to the 0.9 per cent gain on Friday, as UK traders [...]
Bank lending to individuals stays weak August 24, 2010 MORTGAGE lending dropped to a five-month low in July with just 33,700 home loans approved, taking the annual percentage decline to 18.5 per cent, the British Bankers’ Association (BBA) said yesterday. Tighter lending conditions combined with subdued demand for home loans pushed mortgage approvals down last month. This is despite recent calls for the banks, [...]