The numbers that prove Nationwide is beating three of the big four banks May 28, 2014 As the name suggests, Britain’s Big Four banks are usually considered the biggest lenders in the country. But the country’s biggest building society, Nationwide, today released numbers showing it is firmly the second-biggest mortgage lender in the county. On top of that, it's growing far faster than RBS, Barclays and HSBC, pulling further [...]
Value of London mortgages rockets 37pc May 28, 2014 Another sign of the surging housing market: the value of mortgages to home buyers in Greater London jumped 37 per cent from a year earlier in the first quarter of this year – to £5.6bn. The figure was actually down 10 per cent from the fourth quarter of 2013 – a seasonal dip impacting lending, [...]
Full steam ahead at Nationwide as chief issues warning on housing market May 28, 2014 Nationwide has reported its best ever annual results, but has warned that the housing market may well start seeing a “natural correction”. “At some point buyers just start saying no”, said the mutual's chief executive, Graham Beale, to the BBC’s business editor Kamal Ahmed. The prognosis came as Nationwide reported that it opened 430,000 new [...]
What you need to know before the open May 28, 2014 With the S&P 500 and Dax posting record highs yesterday, today's expected to see a positive open for European markets. With no significant US data, focus will be on German unemployment, which could push the Dax towards to 10,000 level if it continues to come down. Market expectations that the European Central Bank will instigate [...]
TSB promises rapid growth to new investors May 27, 2014 NEW HIGH street bank TSB yesterday set out plans to grow by 50 per cent over the coming years, hoping to attract investors with an ambitious expansion plan. Lloyds is selling the 631-branch bank and published its intention to float the lender on the stock market yesterday. The sale comes at a tricky moment as [...]
April regulation clips lending to housing market May 27, 2014 THE NUMBER of mortgage approvals for house purchases in the UK fell for a third month in April, despite the overall recovery of the housing market during the last year. There were 42,200 mortgages approved last month, according to the British Bankers’ Association (BBA). The figure is down from 45,000 in March, and has fallen by [...]
How the Co-op’s botched deal has cut TSB out of half of the mortgage market May 27, 2014 New high street bank TSB can only access half of the mortgage market because it does not have the systems in place to sell through mortgage brokers, chief executive Paul Pester said today – and it is thanks to the Co-op’s botched attempt to buy the lender. As 40 to 50 per cent of [...]
Lloyds confirms float of TSB May 27, 2014 Lloyds Banking Group has confirmed plans to sell 25 per cent of lender TSB sometime next month, with the prospectus set to be published in mid-June. The offer will be available to institutional investors and to intermediaries. Retail investors will receive one free share for every 20 they buy, up to the value of £2,000, [...]
Britain’s mortgage prisoners must act now or face financial meltdown May 22, 2014 IT’s BEEN a busy week in the world of monetary policy. On Sunday, Mark Carney said that rising house prices pose the biggest threat to economic recovery. On Tuesday, the official statistics told us what we already knew – that house prices in London are soaring, by 17 per cent year-on-year. Some homeowners are finding [...]
Consumer recovery heating up May 21, 2014 Retail sales jump by 6.9 per cent in April – the fastest year-on-year growth in a decade Mortgage lending rises by 36 per cent as Britons say they feel more secure in their jobs But policymakers at the Bank of England still voted unanimously to keep interest rates low INTEREST rates are not expected to go [...]