Home loan rates set to drop more as HSBC introduces record low mortgage of 0.99pc November 19, 2014 Mortgage rates are poised to break new records and edge even further down. HSBC recently made headlines by introducing a record low mortgage rate of 0.99 per cent, with economists from the bank predicting policy rates would stay at their all-time lows of 0.5 per cent until at least 2016. It looks unlikely to end [...]
Repossessions and mortgage arrears dip to a six-year low November 13, 2014 HOUSE repossessions and the number of mortgages in arrears have fallen to their lowest levels since 2008. At the end of the third quarter, the proportion of mortgages with arrears equivalent to 2.5 per cent or more of the total mortgage value was 1.12 per cent – down from 1.18 per cent in the second [...]
Lending decline points to cooler housing market November 11, 2014 LENDING to home buyers fell month-on-month in September, but remains substantially higher than a year ago. The number of loans to home buyers was 58,000 in September – seven per cent lower than in August – according to figures released by the Council of Mortgage Lenders yesterday. However, the figure is still 13.1 per cent [...]
Banks argue over the future of free in credit current accounts November 9, 2014 Britain’s banks are split over the future of free bank accounts, with lenders arguing for and against the traditional accounts in submissions to the Competition and Markets Authority (CMA). Barclays told the CMA, which last week launched a major probe into competition in the market, that free accounts impeded competition. “As standard current accounts in [...]
Buying slows as house prices fall in October November 6, 2014 THE HOUSING market is slowing down as high prices and strict mortgage regulations put off buyers. The average house price fell by 0.4 per cent in October, according to figures released yesterday by Halifax. Monthly data can be volatile, but growth in the three months to October also slowed to 0.8 per cent – the [...]
OneSavings Bank share price down as investors remained disappointed despite loans jump November 5, 2014 Shares dropped at OneSavings Bank yesterday as investors were disappointed with its performance in the first quarter since the lender floated on the stock market. The bank originated £0.4bn of new loans in the three months since it floated in June, taking loans for the year to date up to £1.1bn. “Demand in our chosen markets [...]
UK house price growth may be slowing, but Persimmon is bullish November 4, 2014 Persimmon has enjoyed the fruits of 2014’s high house-price inflation, but there were signs in its third quarter figures that a cooling market is beginning to take its toll. The UK’s largest house builder by market capitalisation announced a 12 per cent increase in forward sales totalling £696m in the three months to the end [...]
Barclays share price leaps and bank shares rise as Bank of England recommends raising leverage ratio for UK banks October 31, 2014 The Bank of England (BoE) has revealed proposals to increase the leverage ratio of UK banks to ensure they have a larger safety net to fall back on in the event of another financial crisis. The tough new measures will force banks to keep capital of up to 4.95p for every £1 they lend by [...]
Citi takes $600m blow from extra legal costs October 30, 2014 US bank Citi revealed a $600m (£375m) legal bill last night, surprising investors with the costs just two weeks after it published its third quarter financial results. The costs cut its profits for the quarter from $3.4bn to $2.8bn. And the lender’s dividend will be chopped from the planned $1.07 per share to $0.88 per [...]
UK house prices rise 0.5 per cent in October, but longer-term trend is slowing October 30, 2014 Are house prices rocketing or is their growth slowing? It's getting confusing – according to Nationwide, the unpredictable UK housing market rose in October, with prices up 0.5 per cent month on month, after they fell 0.1 per cent in September. But the annual figure, a more reliable measure, slowed to nine per cent. As [...]