Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation February 12, 2015 Bank of England governor Mark Carney revealed yesterday that interest rates could drop even further below their historic low of 0.5 per cent, as the collapse in global oil prices drags Britain towards deflation. In a mandatory letter to chancellor George Osborne, Carney said that if “global activity continues to disappoint, or if low inflation [...]
House prices climb over winter February 5, 2015 THE HOUSING market boom that saw price growth peak at 10.2 per cent year-on-year in July may not be over, according to one of the UK’s biggest mortgage lenders. House prices jumped two per cent in January – the biggest monthly increase since 2009, figures released yesterday by Halifax show. The average house price in the [...]
Tight mortgage rules squeeze the old and the self-employed February 5, 2015 MORTGAGE brokers are increasingly struggling to find loans for home buyers with unusual requirements, thanks to tougher rules on lending quality, the Intermediary Mortgage Lenders Association (IMLA) warned today. Three-quarters of brokers said lenders are “too conservative” on mortgage criteria. The survey found 84 per cent of brokers have been unable to help a customer in [...]
LendInvest IPO: P2P mortgage firm hoping to be City’s first public crowdfunding site February 2, 2015 Peer-to-peer (P2P) mortgage firm LendInvest is hoping to be the first crowdfunding business to list on the London Stock Exchange with plans afoot for its debut in the next 12 months. The group’s chief executive Christian Faes told City A.M. that while the business has yet to appoint bankers to work on it, he said [...]
HSBC offers cheapest fixed-rate mortgage as rates dip closer to 1pc February 1, 2015 HSBC is set to introduce the cheapest fixed-rate mortgage on the market today as intense competition continues to push down interest rates. The bank’s two-year fixed-rate mortgage will have an interest rate of 1.19 per cent. However, it comes with a £1,499 fee. “Mortgage lenders are in a race to the bottom [with regard to [...]
Do new figures tell us the financial future of the UK? January 30, 2015 As average citizens, it has become rather hard to ascertain whether we should be positive about the future of the British economy or not. One morning we turn on the news or pick up the paper to see reports of an upturn in fortunes, only for this to be quashed just days later with stories [...]
Nationwide says price growth is easing off January 29, 2015 THE HOUSING market continued to come off the boil in January, according to a leading mortgage lender. Year-on-year price growth slowed to 6.8 per cent in January from 7.2 per cent in December, figures released yesterday by Nationwide show. It marks the fifth month in a row in which house price growth has declined. “The further moderation [...]
Low interest rates and less tax to fuel home demand January 27, 2015 The mortgage market saw a slowdown at the end of 2014 but is expected to stage a rebound this year. The number of house purchase approvals was nine per cent higher in 2014 compared to 2013, according to figures released yesterday by the British Bankers’ Association (BBA). However, the value of mortgages for house purchase [...]
Post Office to challenge major banks for top spot in financial services January 25, 2015 The Post Office is in for major changes this week as the aged company sets its sights on one of the top spots in Britain's financial services industry. According to Sky News, the Post Office is hoping to become one of the country's leading financial services providers and will announce on Monday its plan to [...]
London house prices to drop as surveyors see slowdown January 14, 2015 SURVEYORS are predicting a fall in London house prices in 2015, new survey data shows today. Surveyors in London are anticipating a decline in prices of two to five per cent, according to the Royal Institution of Chartered Surveyors (RICS). The price falls are expected to go along with a five to 10 per cent [...]