House prices dip unexpectedly as interest rates continue to dampen demand August 30, 2024 House prices dipped unexpectedly for the first time since April this month, but a closely watched survey today suggests that the outlook for the property market is likely to strengthen as interest rates are reined in. In its closely watched house price index today, mortgage lender Nationwide said British house prices slipped by 0.2 per [...]
‘Buyer buzz’: Outlook raised for UK house prices after interest rates cut August 19, 2024 Property portal Rightmove has said there is a “degree of buyer buzz” in the housing market, caused by the moderation in mortgages in light of the Bank of England’s decision to cut the base interest rate. It raised its house price forecast for 2024 from negative one percent to one per cent, citing more interest [...]
Savills: Bank of Mum and Dad to pay out almost £30bn over the next three years August 16, 2024 First-time buyers will receive almost £30bn in financial support from their parents over the next three years as the housing ladder slips increasingly out of reach for independent young buyers. Gifts and loans from the Bank of Mum and Dad totalled £9.4bn in 2023, according to the latest analysis from property firm Savills. This figure [...]
OneSavings Bank shares tumble as rising mortgage competition prompts guidance downgrade August 15, 2024 Shares in FTSE 250 lender OneSavings Bank (OSB) dropped as much as 19 per cent on Thursday after the group lowered its forecasts for the full year on the back of rising competition in the mortgage market.
Shawbrook: Underlying profit dips as challenger bank’s margins narrow August 8, 2024 Challenger bank Shawbrook has reported a dip in underlying profit for the first half of 2024 as looming interest rate cuts from the Bank of England narrowed its lending margins.
UK house prices surge to highest point since January to end months of stagnation after rate cut August 7, 2024 Renewed momentum in the property market has seen UK house prices rise at the highest rate since January, ending a three-month spell of stagnation. House prices increased by 0.8 per cent in July, with the average property now costing £291,268, up from £289,042 in June, according to the Halifax house price index. This surge sets [...]
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.