UK house prices: This has been the best October for property price growth since 2014, says Rightmove October 16, 2017 The UK’s house prices have risen by 1.1 per cent in October, the highest month-on-month rise rise for any October since 2014. But that isn’t translating into sales, according to a closely-watched index. The Rightmove house price index, which measures the prices of homes put on the market, said the average property price has risen [...]
Rate rise will not leave challenger banks exposed says Hampshire Trust chief executive Mark Sismey-Durrant as profits surge October 16, 2017 A widely expected interest rate rise from the Bank of England will not leave the specialist lending sector exposed, according to the chief executive of a challenger bank which has seen profits surge in the last year. Hampshire Trust Bank recorded rapid profit and loan book growth in the first half of 2017 said its [...]
Bank of England governor Mark Carney declines to give details on rate rise in “coming months” October 14, 2017 The governor of the Bank of England (BoE) has confirmed the UK will raise interest rates “in the coming months”, but he declined to confirm market expectations of a November hike. In an interview with CNBC yesterday evening at the meetings of the International Monetary Fund and World Bank in Washington DC, Mark Carney said: [...]
The 19 UK towns most at risk of a house price bubble: Cleveland, Blackburn and Blackpool come top October 12, 2017 UK house prices may still be rising, but with the Bank of England on the brink of hiking interest rates, the market may be about to change trajectory. Now, by comparing lending levels with house price rises, new research has listed the UK towns and cities most at risk if lending conditions change. Mortgage broker [...]
Will UK interest rates rise next month? October 11, 2017 Here we go again … the Bank of England has dropped heavy hints on interest rates. It could order an increase next month, according to the latest market pricing. Many are puzzled with the sudden change in communication given the fragile state of the economy and the uncertainty created by Brexit negotiations. The Bank, of [...]
Three charts that suggest banks are stronger now than before Northern Rock October 10, 2017 September marked the 10th anniversary of the moment most people had their first inkling all was not completely well with the global financial system. On 13 September 2007, word began to spread that Northern Rock had asked for emergency funding from the Bank of England in its capacity as "lender of last resort", thus prompting [...]
Slowing manufacturing output holds back UK economy October 9, 2017 Slowing manufacturing output continued to drag back the British economy in September, according to a index released today. Output across the UK economy dipped from an index reading of 100.3 to 99.9 last month, the output index compiled by accountants BDO revealed. That meant it dipped below the long-term growth trend, marked by a reading [...]
RBS chairman Howard Davies: Banks set to trigger Brexit contingency plans in March 2018 without details of transitional period October 8, 2017 The chairman of Royal Bank of Scotland has said he’s not concerned that the government has taken its “eye of the ball” when it comes to Brexit amid continued in-fighting in Theresa May’s government. But Howard Davies warned that “some” jobs at the bank will go and that the damage of leaving the EU on [...]
City economists divided on interest rate path as Bank of England official adds to November hike talk October 5, 2017 The City is divided over the future path of interest rates set by the Bank of England, as one of its leading policymakers gave another clear sign that an interest rate hike could come in November. Ian McCafferty, an external member of the Bank’s rate-setting monetary policy committee (MPC), reiterated his view that economic conditions [...]
Bank of England deputy governor pushes for EU and UK commitment to Brexit transition by Christmas October 4, 2017 The Bank of England’s deputy governor will tonight urge UK and EU politicians to agree transitional arrangements for financial services by Christmas, as regulators push for continued close cooperation after Brexit. Sam Woods, who leads the Prudential Regulation Authority (PRA), is expected to warn that firms will be forced to start putting their plans for [...]