2013 sees mortage lending rise by a quarter as market warms December 12, 2013 MORTGAGE lending rose by nearly a quarter in the 12 months to October, as prices and activity in the housing market begin to climb again for the first time since the financial crisis. According to figures released by the Council for Mortgage Lenders (CML) yesterday, lending for house purchases rose 24 per cent in the [...]
Mortgage lending soars. But will it all end in tears? December 12, 2013 Lending to first time buyers rose dramatically in October, according to the Council of Mortgage Lenders. First time buyers advanced 26,800 loans in October, the largest number of loans in a monthly period since November 2007. Strong buyer interest is strengthening activity in the housing market but limited supply remains a major problem. House prices [...]
City Moves for 11 December 2013 | Who’s switching jobs December 10, 2013 Colliers International The real estate services firm has recruited Andrew MacKenzie as a consultant in its retail team. He was most recently chief executive of Jaeger. MacKenzie has previously held senior director positions at Allders, First Restaurant Group and Matisse Holdings. Towry The wealth management firm has hired Mehdi Douali as an analyst in its [...]
Challengers sign up to mortgage scheme December 5, 2013 CHALLENGER banks Aldermore and Virgin Money became the latest lenders to sign up to the Help to Buy guarantee scheme yesterday. The pair join lenders like RBS and Lloyds in offering the products, under which the government guarantees up to 20 per cent of the mortgage for home buyers with a small deposit. They will [...]
What does the chancellor’s budget mean for you? December 5, 2013 Catherine Gannon, 51Managing director of law firm GannonThe business is performing extremely well but that is thanks to investments: profits are up but the cost of living has increased, making Catherine feel less well off. She lives with two children, aged 11 and 13, in her own home and holds investment properties. She doesn’t have [...]
Bank fears debt too high to cope with a rate hike December 3, 2013 HIGH house prices are pushing up families’ debts and mean they could be in danger when interest rates rise, the Bank of England said yesterday. The minutes of its financial policy committee’s (FPC) latest meeting show the panel of policymakers is worried that further sharp rises in prices will build up risks in banks and [...]
Europe’s banks told they have €280bn hole December 2, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
Europe’s banks told they have €280bn hole November 28, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
It’s open season on banks again November 26, 2013 BANKERS faced a series of fresh attacks yesterday, as Labour pushed for tougher licences for bankers and the chancellor opened the door to harsher lending controls. Labour won a vote in the House of Lords last night to force bankers to face regular checkups from regulators, and risk losing their licence if they do not [...]
Rise in remortgaging continues into autumn as market heats up November 24, 2013 REMORTGAGING is becoming increasingly popular as the housing market begins to heat up again, with lending figures still climbing. Figures released by LMS today show remortgage lending increased by 27.7 per cent during the year to October. Both the number of loans issued and the average loan amount have risen over the same period, up [...]