London house price boom set to stall in 2015 as tough new mortgage lending rules take effect October 14, 2014 House price growth is set to level off across the UK and could even be at risk of falling in the capital, according to industry experts. “It’s been indicated by the collapse in buyer in inquiries, there’s been a very sharp fall in London,” Joshua Miller, economist from the Royal Institution of Charted Surveyors, told [...]
House price rise cooling October 9, 2014 FURTHER evidence has emerged that the housing market cooled down in August. The Council for Mortgage Lenders, a trade association, reported that the number of loans for house purchase fell by 3.3 per cent in August. This remains 7.9 per cent above August 2013, however.
House prices to cool off after mortgage dip October 7, 2014 MORTGAGE lending fell significantly over the past three months, according to the Bank of England, suggesting the housing market will cool further. This is the first negative figure since the final three months of 2011 and marks a significant reversal in housing trends. House prices boomed over summer and are expected to grow 17 per [...]
Mark Carney wants power to limit your mortgage if house price boom threatens banks October 2, 2014 The Bank of England wants major new powers to cap mortgage loans, yesterday arguing it may need to rein in the housing market if the price boom starts to endanger banks. Officials want the ability to cap the loan-to-value (LTV) ratio of mortgages, as well as the debt to income ratios of some borrowers. The demands [...]
Will the Bank’s new powers to intervene in the housing market help prevent boom and bust? October 2, 2014 Rob Wood, chief UK economist at Berenberg Bank, says Yes. The Bank of England has a powerful set of weapons in its armoury to smooth out the cycles in the housing market. It can restrict the amount someone can borrow relative to their income, and the Bank has now asked formally for new powers to [...]
Bank of England backs move for greater powers over mortgage lending as it warns over financial instability posed by housing market October 2, 2014 The Bank of England has warned that the UK housing market represents a continued risk to financial stability, backing government calls for greater powers to cap mortgage lending for homes and buy-to-let properties. The BoE's Financial Policy Committee has come out in support of George Osborne's suggestion, which was initially put forward over the summerand reiterated [...]
Plan to stop permanent growth of mortgage red tape is rejected October 1, 2014 PLEAS for a sunset clause to be introduced on lending restrictions were pushed aside yesterday, as the Bank of England published its decision on mortgage loans. The Building Societies Association is worried new regulations will be introduced when the housing market is overheating, then never withdrawn when the market cools down. To combat this permanent growth [...]
Bank of England’s stress test may threaten Lloyds dividend plans October 1, 2014 Lloyds could fail the Bank of England’s stress tests this Autumn and be banned from paying out a dividend this year, analysts at Macquarie warned yesterday. The bank has hiked its capital ratios over the past year and so is not expected to be forced to issue any more bonds or shares to bolster its buffers. [...]
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 [...]