Mortgage price war set to intensify as Halifax, HSBC lead charge slashing rates January 3, 2024 The new year has kicked off with a mortgage price war, according to brokers, as lenders slash deals to compete for business in a market under pressure from high interest rates.
Simmons & Simmons awarded £3m Bank of England legal contract January 3, 2024 The law firm won the BoE's flexible legal resourcing contract late last month, with a value up to £3m running for two years until 19 December 2025.
Rate cuts needed to ‘kick start’ economy: UK business group January 3, 2024 Business confidence in the UK economy ended 2023 sharply lower as falling inflation failed to boost optimism ahead of the new year.
First-time buyer numbers ‘were lowest in a decade in 2023’ January 2, 2024 The number of first-time buyers who purchased a home with a mortgage in 2023 is estimated to be the lowest in a decade, according to a building society. Yorkshire Building Society calculated that, across the UK, there were around 290,000 first-time buyers in the mortgage market in 2023, shrinking by a fifth (21 per cent) [...]
Leading economists expect Bank of England to cut interest rates in spring January 2, 2024 Top economists have brought forward their expectations for the Bank of England's next interest rate cut to as soon as March and overwhelmingly see the central bank's monetary policy as too hawkish, according to a City A.M. poll, after promising signs in the battle against inflation.
‘Systemic shocks should be anticipated’: how will the financial system fare in 2024? January 2, 2024 Although interest rates are unlikely to go any higher, risks remain as borrowers will continue to roll off contracts agreed when interest rates were near zero.
UK banks’ costs in focus in 2024 as interest rates go from boon to burden January 1, 2024 UK banks' cost control will be a key focus in 2024 as the tailwind from high interest rates gives way to mounting margin pressure, analysts have told City A.M.
Seven things banks will be looking out for in 2024 December 31, 2023 A challenging year is in the offing for lenders – from regulatory reform to fraud crackdowns
Top business disasters of 2023: City A.M. reflects on the biggest corporate mishaps of the year December 30, 2023 Here at City A.M., we’re taking some time to reflect on some of the biggest c*ck-ups in business in the last 12 months.
How much do forecasters think the UK will grow in 2024? December 30, 2023 Going into the new year, forecasters have a healthy spread of opinion on the extent to which the UK will grow next year.