Buyers struggle to raise deposit as market soars March 31, 2014 HOUSE buyers across England and Wales are paying the highest proportion of their property’s asking price since 2004, with the average house going for more than 99 per cent of the asking price in London. In March so far, buyers are shelling out 96.2 per cent of property asking prices, according to Hometrack’s assessment of [...]
Lloyds is the real driver behind the mortgage boom February 27, 2014 Britain’s housing market is booming, with mortgage lending soaring and prices rising at giddy, pre-crash rates. But not everyone is taking part – of Britain’s biggest four banks, two cut gross new mortgage lending last year, and one barely budged on the year. In fact, the boom in lending is almost all coming from Lloyds. [...]
Soaring number of low deposit mortgage deals February 24, 2014 NEW FIGURES released this morning suggest that the number of products for the highest loan-to-value (LTV) mortgages has tripled since the surprise launch of the second phase of Help to Buy in October. The number of products available for buyers with only a five per cent deposit has soared from 43 to 132 in less [...]
What you need to know before the US open February 20, 2014 US stock index futures suggest markets will open lower, as investors look again towards ongoing emerging market turmoil. The continuing and severe violence in Ukraine at the moment has seen the country’s hryvnia plummet to five-year lows, and state debt insurance rising to 2009 highs. Weaker growth from China – the Markit/HSBC purchasing managers’ index [...]
Barclays hikes bonuses to hold onto top staff February 11, 2014 BARCLAYS has been forced to increase bonuses in a bid to attract the best staff in the US and Asia, where competition is particularly fierce, the bank’s boss said yesterday. The bonus pool increased by 10 per cent to £2.38bn, even as profits for 2013 fell 32 per cent to £5.2bn. Chief executive Antony Jenkins [...]
Scale of house price boom in prime London revealed January 20, 2014 AVERAGE house prices have doubled to over £1m in dozens of wards inside and surrounding London in the past decade, soaring despite the effect of the financial crisis. Research by property group Savills and the Property Database, based on Land Registry figures, shows the huge rise in prices recorded in the most sought-after parts of [...]
London house prices barely slowing in 2014 December 10, 2013 HOUSE prices in the capital will continue to soar next year, rising by up to seven per cent, estate agent Marsh and Parsons predicted yesterday. The agency has 18 buyers on its books for every prime London property, well up on the 13.5 a year ago and a level which will keep the market rising. [...]
UK must build 1.5m new homes November 6, 2013 Think tank calls for huge construction drive over next five years THE NEXT government must commit to build 1.5m homes by 2020 to stem an emerging social and economic crisis, according to a report released today. Westminster think tank Policy Exchange has calculated that the UK desperately needs to build 300,000 houses every year between [...]
Buoyant Britain: Growth forecasts rise November 5, 2013 Growth forecasts rise as services improve at best rate in 16 years UK SERVICES posted their strongest growth in over 16 years during October, with the economy’s biggest sector showing no signs of slowing down as the fourth quarter kicked off. A major survey of firms revealed yesterday suggested that the economy could grow by [...]
Mortgage deals strike a four year high in August September 24, 2013 THE SURGING housing market has pushed mortgage lending to a four-year peak, according to the British Bankers’ Association (BBA), while lending to businesses remains anaemic. The BBA said that last month its members approved 38,228 mortgages, an increase of just over 25 per cent from the same month last year, highlighting the recent boost to activity [...]