Mortgage applications soar after coronavirus lockdown lifted October 14, 2020 Mortgage applications soared after lockdown was lifted this summer, reaching an estimated value of £216bn, however the closure of the housing market means lending is expected to be down compared to last year. Pent-up demand and government incentives helped to jolt the UK property market back to life after restrictions were eased following the UK [...]
UK house prices to rise 20 per cent by 2024 October 8, 2020 UK house prices are expected to soar more than 20 per cent by 2024, according to the latest research. Analysis by estate agent Savills found that UK property prices will jump 20.4 per cent in the five years to 2024 Average house prices are expected to increase four per cent this year before stagnating in [...]
Banking industry group UK Finance names David Postings as new boss October 7, 2020 UK Finance, the banking lobby group, has appointed David Postings as its new chief executive to help steer the industry through the Covid-19 crisis. Postings, who recently stepped down as global chief executive of Bibby Financial Services, will take up the role at the start of next year, UK Finance said. He had previously held [...]
Banking sector warns against irresponsible lending after PM’s low deposit mortgage pledge October 7, 2020 The banking sector has cautioned against irresponsible lending after the Prime Minister announced plans to help millions of potential buyers onto the housing ladder by allowing low deposit mortgages. Boris Johnson yesterday said he wants to turn “generation rent” into “generation buy” by allowing people to purchase homes with a five per cent deposit. The [...]
Not all sellers are equal — why cladding changes are urgently needed to free up the UK property market October 1, 2020 According to Rightmove, people searching for a home in a village jumped by 126 per cent in June and July compared with the same period last year. That figure should not be surprising, given that if you’ve been cooped up in a smaller flat, with less living space because you thought most of your time [...]
FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]
It’s time for the UK to set its financial services sector up for success September 3, 2020 With the Brexit transition period drawing to a close, the United Kingdom has a unique opportunity for legislative and regulatory reform. For our financial services sector, the Treasury’s review of the regulatory framework presents a fantastic chance to set the UK up for another decade of global leadership, in an international market that is fast-changing [...]
HSBC pulls low-deposit mortgages after surge in demand September 2, 2020 HSBC UK today said it was restricting its low-deposit mortgages to those switching rates after a surge in demand. The bank said it is “temporarily reserving its mortgages over 85 per cent Loan to Value (LTV) for those customers switching rates.” HSBC was the only High Street bank to continue to offer 90 per cent [...]
UK housing market surges in busiest month in 10 years August 17, 2020 Brits have turned to home-buying to fill the summer holiday void post-lockdown as the UK housing market’s “mini-boom” accelerated in August. Rightmove’s latest house price index released today reveals the highest number of monthly sales in more than 10 years in August. It is up by 20 per cent on the previous high, and with [...]
Metro Bank agrees £12m deal for Ratesetter in lending push August 3, 2020 Metro Bank will snap up peer-to-peer lender Ratesetter after agreeing a £12m sale it hopes will push it into more profitable banking avenues. The challenger bank will pay an initial £2.5m, it said today, and another £9.5m over the three years following the completion of the deal, based on performance criteria. Daniel Frumkin, Metro Bank’s [...]