£12m in remortgages and drawdowns every single day: Homeowners release record £4.4bn in property wealth January 19, 2022 Older homeowners released a record £4.4 billion in property wealth last year at a rate of more than £12 million a day as customers helped family and secured their own finances by repaying debt or remortgaging existing borrowing, according to new data. Around one in five equity release plans (19 per cent) taken out in [...]
Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Brits face cost of living assault on all fronts in 2022 January 4, 2022 Brits are facing a cost of living crunch on all fronts in 2022, reveal fresh figures released today. Prices in shops accelerated 0.8 per cent in annually in December, just the second time prices have risen in over two years, according to the British Retail Consortium (BRC). The rise has been driven by food retailers [...]
UK house prices accelerate at fastest pace since before financial crisis December 30, 2021 UK house prices have accelerated at their fastest pace since before the financial crisis, shooting up over 10 per cent over the last year, reveal fresh figures released today. The cost of buying a home in Britain hit £254,822 this month, the highest price on record and up around £24,000 since December last year, according [...]
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Warnings housing market may ‘enter bubble territory’ if lending checks eased December 6, 2021 The Bank of England is readying itself to relax mortgage lending rules despite fears it will trigger a housing bubble, it has been reported. The Telegraph reported that policymakers are looking at relaxing affordability checks for borrowers. The rule changes are being mulled amid a review of market restrictions this will finish shortly. Officials are [...]
Red hot property market makes Brits the richest they have ever been December 2, 2021 A booming property market triggered by a tax holiday and Brits demanding larger homes has made the UK the richest it has ever been. Household wealth in Britain swelled 8.4 per cent over the last year to £11.2 trillion, the highest it has ever been since the Office for National Statistics (ONS) started tracking the [...]
House prices jump 10 per cent in a year amid buoyant market December 1, 2021 House prices are 10 per cent higher than they were last November, and grew 0.9 per cent compared to October, according to an index.
First-time buyer price inflation nears 10 per cent as London house prices shoot past £500k November 6, 2021 First-time buyer annual house price inflation is now at a five-month high, at 9.2 per cent, and has pushed ahead of the equivalent measure for home movers, at 8.1 per cent, according to property experts. In London, the average house prices have shot passed £500k. The average UK house price hit a record high of [...]
City brings forward bets on Bank of England rate hike to this week October 31, 2021 The Bank of England will hike interest rates this week to hose down runaway inflation, according to several grandee City investment banks. JPMorgan, Deutsche Bank, Morgan Stanley and Santander have all brought their bets on when the Old Lady will increase borrowing costs to this Thursday’s rate setting meeting. The strengthening bets have been driven [...]