Property lender Together toasts £50m profits as hopeful house-buyers told to stay positive as rates fall February 22, 2024 High interest rates on mortgages helped property lender Together post profits of almost £50m during the final three months of 2023, according to new figures.
Lloyds, HSBC, Barclays and Natwest post record £44bn profits from global interest rate hikes February 22, 2024 The UK's biggest banks notched their highest combined annual profits ever last year as interest rate hikes around the world gave lenders gaping margins.
First time buyers: Homes in London 26 per cent cheaper but affordability remains an issue February 22, 2024 First time buyers in London are spending 26 per cent below the UK market average, but the majority of buyers are struggling with affordability. According to a new report by Zoopla, the average cost of a first time property in London is £399k, which is around £140k cheaper than a typical home would cost in [...]
Lloyds set for uptick in annual profits as investors look for clues on motor finance probe February 17, 2024 Lloyds Banking Group is set to report an uptick in annual profits next week on the back of higher interest rates, with its cost control, impairments and exposure to an FCA motor finance probe in focus.
Meet the man trying to rebuild Purplebricks from the ground up February 15, 2024 Purplebricks was sold for £1 last year - now Sam Mitchell is trying to rebuild it
UK and London house prices drop again but ‘affordability still a huge barrier’ February 14, 2024 House prices fell in December with the average price of a property now costing £285k – but it’s still hard to afford a home for lots of Britons. The figure, according to a new government release, is down £4,000 when compared to the exact same period the year before, but up from 2.3 per cent [...]
Value of UK housing stock dropped by £27bn in 2023 as high costs hurt market February 14, 2024 The UK’s housing stock has seen its first annual decline in value since 2012 after some £27bn was wiped off last year, according to new analysis, amid higher mortgage costs and pressure on household finances. Figures from property firm Savills showed that despite the fall, the value of housing remained £1.585tn higher than 2019, before [...]
Why are UK banking stocks doing so badly despite bumper profits? February 13, 2024 The UK's biggest banks are set to post bumper annual profits when they report their 2023 results in the coming weeks. But why are they not being rewarded on the stock market?
Big banks set for bumper annual profits as interest rates peak February 12, 2024 Britain's biggest banks are set to report strong annual profits over the next two weeks despite mounting margin pressure from a likely peak in interest rates.
Two-year mortgage rates have biggest monthly drop since 2022 as Santander is latest to cut February 12, 2024 Average two-year fixed mortgage rates have seen their biggest monthly drop since December 2022, according to a financial information website, despite mounting economic pressure squeezing lenders' margins.