Boom halts as mortgage loans slow in August September 23, 2014 THE BOOM in mortgage lending ground to a halt in August as lending volumes slumped to a 12-month low, industry data showed yesterday. A total of 41,588 loans were given out last month, according to the British Bankers’ Association. Lending by value is still up by 15 per cent on the year to £11.1bn, but analysts believe [...]
No more UK house price bubble? Mortgage approvals fall to a 12-month low in August September 23, 2014 This could be the end of the house-buying frenzy of early 2014. New mortgage approvals hit their lowest since September last year in August, figures by the British Banking Association showed today, with just 41,588 new mortgages approved during the month, down from 42,715 in July, and 14.1 per cent lower than January's 76-month high [...]
Challenger bank Aldermore kicks off new wave of stock flotations September 22, 2014 Challenger bank Aldermore wants to raise more than £75m in a stock market flotation, the small business and mortgage specialist announced yesterday. The flood of initial public offerings (IPOs) earlier this year had dried up with the combination of uncertainty over the Scottish referendum and the annual summer slowdown. But after last week’s No vote, [...]
Aldermore boss Phillip Monks says he doesn’t want to pay dividends September 22, 2014 If you go to the big banks’ annual general meetings you can be sure to meet angry investors. They turn up every year to complain that dividends are too low or even non-existent, and the banks’ managers are failing to provide the returns they need on their savings. So Aldermore’s boss Phillip Monks might be [...]
London rent prices hit record high as new mortgage loans keep climbing September 18, 2014 London rents hit a record high of £1,161 on average last month, according to figures out today from LSL Property Services. Monthly rents in the capital climbed three per cent on the year – an increase which was ahead of wages, intensifying the pressure on tenants. Across England and Wales, the average rent increased by 2.4 [...]
Another 1,000 mortgages go on the market as lenders open the floodgates September 17, 2014 BANKS are offering increasing numbers of mortgage products to compete for new customers as the market finally gets back to operating at normal levels, figures from the Mortgage Advice Bureau showed today. A total of 12,265 products were on offer last month, a jump of 964 in just one month. It means more products are [...]
House sales up again with flood of new buyers September 11, 2014 The housing market resurged again in July, defying expectations that activity was slowing down, industry figures revealed yesterday. The number of first-time buyers surged by 25 per cent in the year, according to the Council of Mortgage Lenders (CML). More than 30,000 bought a place on the housing ladder in the month, the biggest number since [...]
Banks start to regain public’s confidence September 10, 2014 BANK OF THE YEAR This year may be remembered as the year the banking sector started to fight back against the regulators after years in the doldrums post the financial crisis. Profitability is up, lenders are at last overcoming tough new regulatory hurdles and a stable future could be just around the corner. And the [...]
How to save up for a house deposit September 9, 2014 With property prices surging in recent years – by 19.3 per cent in London in the 12 months to June, according to ONS data – the amount needed for a house deposit has shot up. The latest figures from LSL Property Services show that the average first-time buyer put down just over £30,000 for a [...]
Barclays to make a £500m loss on its Spanish arm as it agrees sale to CaixaBank September 1, 2014 Barclays has agreed to sell its Spanish business to CaixaBank, Spain's third-largest lender, for €800m (£630m). The bank will make a £500m loss on the deal to sell its Spanish retail banking, wealth and investment management, and corporate banking businesses, but leverage exposure will be trimmed to the tune of £15bn. Shares in Barclays were [...]