Mortgage lending slumps to lowest point for a decade December 20, 2010 MORTGAGE lending has sunk to its lowest level since 2000 for five consecutive months, it was revealed yesterday. In November lending dropped by five per cent to £11.1bn compared to the previous month, according to the Council of Mortgage Lenders (CML). A huge 10 per cent drop from last year’s November figures is partly accounted [...]
UK has fewer empty homes December 19, 2010 THE number of English homes left standing empty for six months or longer dropped for the first time in three years last year, in a sign that a stagnant housing market and high rental demand is pushing up occupancy levels. The number of long-term empty private houses dropped by more than 20,000, or six per [...]
Concern over public sector debt reduces December 16, 2010 WORRIES over the effect of government debts on the financial sector have plummeted since May, according to a survey conducted by the Bank of England. In May 69 per cent of respondents listed public debt and sovereign risk as “key risks to the UK financial system,” it was revealed today. But by October the number [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2010 FINANCIAL TIMES SIENNA MILLER CLAIMS REIGNITE HACKING ROW Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 14, 2010 FINANCIAL TIMES INVESTOR IRE OVER SIG CHIEF’S PAY Investec Asset Management has hit out at the board of SIG for ignoring investor outcry about the amount its chief executive is being paid. Investec, which owns 3.3 per cent of the Sheffield-based insulation and plasterboard maker, has written a letter to SIG to protest against a [...]
Homeowners relaxed about negative equity December 14, 2010 IN the latest YouGov SixthSense Mortgages Report, mortgage holders were asked to estimate the current value of their household and cost of their mortgage. Ninety-one per cent who were able to give these figures were in positive equity with nearly one in ten recording a no equity or negative equity score. This data is in [...]
Property prices fall 3pc December 13, 2010 ASKING prices for homes in England and Wales have fallen three per cent over the past month to stand just 0.4 per cent higher than a year ago, due to economic uncertainty and low mortgage approvals, according to property website Rightmove. December’s fall follows a 3.2 per cent decline in November, with further drops possible [...]
500,000 households in negative equity December 12, 2010 CLOSE to half a million British households could be facing negative equity, according to survey released today by the Bank of England. Between four and five per cent of mortgage holders owe more than the value of their properties, it was revealed in the Bank’s final quarterly bulletin of this year. There are 11.4m mortgages in [...]
Irish banks will offer to restructure December 8, 2010 NATIONALISED lenders Anglo Irish and Irish Nationwide Building Society will submit a joint restructuring plan to the European Commission proposing they be merged and run down over time. The plan, which must be completed by the end of March, was one of the demands the IMF, European Commission and European Central Bank made as a [...]
Bellway profit rises by 20pc December 7, 2010 British housebuilder Bellway said home reservations for the four months to November end were above its expectations, putting it on course for a 20 per cent increase in first-half pre-tax profit. “The decline in consumer confidence appears to have levelled out and people are still committing to purchase even at this time of year,” the [...]