House prices show biggest fall in a year August 14, 2012 British house prices experienced their most widespread falls for a year in the three months to July, and surveyors do not expect the outlook to improve over the next 12 months, a survey by the Royal Institution of Chartered Surveyors (RICS) showed today. The figures, which also show sellers hanging back, reinforce a generally gloomy [...]
Supply to housing market declines August 13, 2012 The supply of properties into the housing market continued to drop last month, according to a widely-regarded survey released this morning. A net balance of 15 per cent of surveyors reported weaker demand in July, the Royal Institution of Chartered Surveyors found. And five per cent more chartered surveyors reported falls rather than rises in [...]
Post Office to offer mortgages across its local branch network August 9, 2012 POST Office customers will be able to pick up a mortgage alongside their book of stamps, under a pilot scheme launched yesterday. Trained mortgage advisers are now available in five of the organisation’s outlets – Birmingham, Solihull, Walsall, Luton and Norwich – to offer free consultations as part of the firm’s push to become one [...]
Prospective first time buyers hit by the escalating cost of renting August 9, 2012 HOPEFUL first time home buyers are trapped in an increasingly expensive rental market, according to a series of separate studies released yesterday and today. The cost of renting a home shot up by 4.3 per cent in the year to May-July, with the Royal Institution of Chartered Surveyors (RICS) explaining that “many would-be buyers continue [...]
House prices fall 0.6 per cent in July August 6, 2012 British house prices fell by 0.6 per cent in July, mortgage lender Halifax said today, a marginally bigger fall than economists had forecast but one that leaves the pattern of broadly stable prices intact. House prices in the three months to July are 0.6 per cent down on a year earlier, in line with forecasts [...]
Cameron’s decision to stick with Osborne is a major gamble August 2, 2012 SO that’s it, then. George Osborne will remain chancellor after the September reshuffle, and will keep his job until the election. David Cameron was emphatic yesterday. It means his fortunes are now inextricably linked to his chancellor’s; critics of Osborne’s policies will now also become critics of Cameron’s; and anybody who wants to replace the [...]
New lending plan gets off to a shaky start August 1, 2012 THE GOVERNMENT’S latest plan to give banks cheap funds in an effort to boost lending to firms and households received a cautious welcome from banks when it opened yesterday. Majority taxpayer-owned RBS accessed the “Funding for Lending” scheme (FLS) immediately, and cut mortgage and corporate loan interest rates by up to 1.6 percentage points. Lloyds, [...]
House prices suffer biggest drop since 2009 – Nationwide August 1, 2012 British house prices fell at their fastest annual pace in nearly three years last month, data from mortgage lender Nationwide showed today, as the effects of nine months of recession spread further across the economy. Nationwide reported a 0.7 per cent decline in house prices in July, a much bigger drop than that forecast by [...]
Italian police seize Barclays documents in rates probe July 31, 2012 Police have seized documents at the Milan offices Barclays as part of an Italian probe into possible manipulation of Euribor lending rates, judicial sources and consumer groups said today. The search took place last Friday and was ordered by prosecutors in the southern city of Trani, the sources said. Barclays has been fined over $450 [...]
Mortgage approvals plummet to their lowest level for 18 months July 30, 2012 MORTGAGE approvals plunged to their lowest number in a year and a half in June, according to Bank of England data released yesterday. Only 44,192 loans for home purchase were waved through by lenders last month, down from 50,544 in May and significantly below economists’ forecasts. While two extra bank holidays falling in June might [...]