House prices: Property market shows signs of life with shock jump in October November 7, 2023 The cost of a home rose 1.1 per cent in October, breaking a run of six consecutive monthly falls, the latest figures from Halifax can reveal. According to the report, the typical UK home now costs £281k, up around £3,000 on the previous month. In the capital house prices remain the most expensive, with the [...]
Mortgage growth set to reach decade low as high rates drive down demand November 6, 2023 The EY Item Club predicted that net mortgage loans would grow 1.5 per cent in 2023 and two per cent in 2024, representing the lowest two-year growth in a decade.
London ‘clearly in depths of a rent crisis’ as 77 per cent of properties see price rise November 3, 2023 The ONS said prices had risen by 10 per cent or more for around one in five properties across England and Wales, but London was by far the worst hit.
SMEs crushed by lack of funding as MPs scrutinise lenders on borrowing November 1, 2023 One in ten small and medium-sized businesses (SMEs) that have struggled to access financing eventually folded, according to a survey of 500 business leaders, as MPs scrutinise the sector's lenders.
Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
As banks refuse to pass on interest rates, they lose customers’ faith October 30, 2023 As banks refuse to pass on interest rates, their customers are deserting them, writes Victor Trokoudes.
Why the outlook is bleak for UK firms despite first drop in profit warnings since mid-2021 October 30, 2023 Profit warnings among UK companies fell for the first time since 2021 in the third quarter, but access to credit is fast becoming a major concern for firms.
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Two more years of misery for London housing market, analysts suggest October 25, 2023 A recent report suggests house prices, including those in London, to decline in the coming months, but the decline will "not likely be sufficient".
Santander: Bank cuts UK mortgage lending by more than £10bn October 25, 2023 Santander's UK division saw healthy pre-tax profit in the first nine months of 2023 but has slashed UK mortgage lending amid higher interest rates.