Principality Building Society’s profit nearly halves as lower rates offset mortgage boost August 6, 2024 Principality Building Society, the largest mutual lender in Wales, has seen its profit nearly cut in half as mortgage price wars and looming interest rate cuts dragged on its lending margins.
Lloyds, Barclays and Natwest: FTSE 100 bank shares slide on fears of US recession August 5, 2024 The UK's biggest banks were among FTSE 100 stocks hit by a global sell-off on Monday as investors were spooked by the prospect of a US recession.
Skipton mortgages shoot up as society hits million savers mark August 2, 2024 Mortgages delivered by Skipton Group rose almost 11 per cent over the last year to a whopping £30bn, the group said.
Virgin Money lending dips in run-up to Nationwide takeover August 2, 2024 Virgin Money's lending to customers dropped by one per cent last quarter as the group prepares to be taken over by Nationwide imminently.
House price growth accelerates ahead of potential interest rate cut August 1, 2024 UK house price growth has accelerated in the past month as buyer confidence picked up and mortgage rates fell ahead of a potential interest rate cut by the Bank of England. UK house prices rose by 0.3 per cent month on month in July, Nationwide reported in their monthly house price index. The annual growth [...]
Barclays announces £750m buyback after beating expectations August 1, 2024 Barclays joined other lenders in announcing sizeable returns to shareholders after performing ahead of expectations in the second quarter. In the three months to June, Barclays reported a pretax profit of £1.9bn, more or less unchanged on last year but comfortably ahead of the £1.6bn expected by analysts. The lender’s investment bank and its wealth [...]
Paragon Bank confirms targets with business running ‘ahead of expectations’ July 30, 2024 FTSE 250-listed Paragon Bank said new business levels were running “ahead of expectations” as the lender remained on track for its full year targets. Paragon, based in Solihull in the West Midlands, is a major provider of loans to professional landlords with at least four properties. It also lends to medium-sized housebuilders seeking loans up to £35m. [...]
Mortgage market treads water before of Bank of England interest rate decision July 29, 2024 Bank of England data showed that the number of mortgage approvals, which indicate future borrowing, remained broadly steady in June at just under 60,000.
Natwest shares rise after strong results and deal for part of Metro Bank’s mortgage book July 26, 2024 Natwest became the latest bank to report a fading boost from higher interest rates as it announced the acquisition of part of Metro Bank's mortgage book.
Revolut’s long wait for a banking licence finally comes to an end July 25, 2024 After more than three years, Revolut’s wait for a banking licence is finally over after it received authorisation from the banking watchdog.