Number of UK house sales jumped by a third after rates cut, before Budget October 21, 2024 Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year. The number of sales agreed rose by 29 per cent, while the number of potential buyers contacting estate agents [...]
UK banks to post first results since interest rate cut October 20, 2024 Major UK banks are to reveal whether borrowers are benefiting from lower interest rates as they report third-quarter results over the next two weeks.
Longer-term mortgages are on the rise amid financial stability risk concerns October 17, 2024 In the first quarter of 2024, half of new mortgages had terms of 30 years or longer, up from just 12 per cent in the final quarter of 2005.
Stamp duty: TSB and Shawbrook join mortgage lender call for reform before Budget October 15, 2024 A group of mortgage lenders and brokers have called on the government to refund stamp duty for homeowners in a bid to accelerate energy efficiency improvements in UK housing and reduce national emissions. TSB, along with Shawbrook, the Mortgage Advice Bureau (MAB) and Leeds Building Society, have called on the government to provide more support [...]
Monzo set for £4.5bn valuation in employee share sale October 10, 2024 Monzo is launching a secondary share sale that is set to value the digital challenger bank at £4.5bn, City AM has learned.
UK’s cash-strapped fintechs brace for buyouts as London IPOs stall October 8, 2024 Amid a dearth of IPO activity, the UK's fintech sector is bracing for more consolidation as successful start-ups expand and established players fend off future rivals.
UK house prices rise for third straight month ahead of Budget October 7, 2024 House prices rose for the third consecutive month in September, taking the average price of a property to the highest level in more than two years. House prices increased by 0.3 per cent month on month in September, and 4.7 per cent year on year. The average property now costs £293,399 – compared to £292,540 [...]
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Nationwide completes Virgin Money takeover to create high street banking titan October 1, 2024 Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.
Mortgage approvals hit highest level in two years as housing market recovers September 30, 2024 According to figures from the Bank of England, 64,900 mortgages were approved last month, up from 62,500 in July.