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.
Yorkshire Building Society sees profit fall as rate tailwind eases July 25, 2024 Profit fell at Yorkshire Building Society as margins in the mortgage market were compressed by the plateau in interest rates. In the first six months of the year, the building society’s pretax profit fell to £158.1m from £180.6m in the same period last year. The fall in profit was largely due to lower net interest [...]
Consumer confidence hit highest level in three years July 19, 2024 Consumer confidence has risen to its highest level in three years in a tentative sign that the economy is leaving the cost-of-living crisis behind, new data from Deloitte shows. In its latest quarterly Consumer Tracker survey, Deloitte found that sentiment grew by 6.8 per cent year on year, boosted by a significant improvement in sentiment [...]
Lenders expect further rise in mortgage defaults in coming months July 11, 2024 UK lenders are expecting a further jump in default rates on home loans in the coming months, according to a Bank of England survey, as mortgage holders face higher refinancing costs.
Fall in housebuilding contributes to easing construction activity July 4, 2024 The construction sector remained in expansion in June, a closely watched survey shows, although the rate of growth eased due to a slowdown in housebuilding.
‘Market prices vulnerable to sharp correction,’ Bank of England warns June 27, 2024 The Bank of England has warned that investors are only focusing on good economic news, sending up asset prices and raising the risk of a “sharp correction” in the future.
Build, Baby, Build: We’ll never fix the housing crisis without private capital June 23, 2024 It is only by close collaboration between the public sector, private companies and institutional investors that we’ll be able to deliver housing of all tenures at scale, stabilising the market and ensuring more people are able to live better, says Rick de Blaby As someone who runs a business where a third of our workforce [...]
Sainsbury’s Bank sale marks end of an era for supermarkets June 20, 2024 Sainsbury's has agreed to sell most of its banking arm to Natwest, in a deal that will see the supermarket pay the lender £125m.
FTSE 100 today: Blue-chip index set for higher open; potential BOE dovish surprise could spark a rally June 20, 2024 Asian stocks paused after a brief rally, while gold climbed to a one-week high. All eyes are now on the Bank of England's policy decision.
UK house prices rise for second straight month in sign of economic recovery June 19, 2024 UK house prices rose for their second consecutive month in April, latest official figures show, amid hopes for a rebound in the housing market as the economy improves.