Bank of England cuts interest rates for first time since March 2020 August 1, 2024 The Bank of England's interest rate decision was eagerly anticipated by investors.
House price growth accelerates ahead of potential interest rate cut August 1, 2024 UK house price growth has accelerated in the past month as buyer confidence picked up and mortgage rates fell ahead of a potential interest rate cut by the Bank of England. UK house prices rose by 0.3 per cent month on month in July, Nationwide reported in their monthly house price index. The annual growth [...]
Barclays announces £750m buyback after beating expectations August 1, 2024 Barclays joined other lenders in announcing sizeable returns to shareholders after performing ahead of expectations in the second quarter. In the three months to June, Barclays reported a pretax profit of £1.9bn, more or less unchanged on last year but comfortably ahead of the £1.6bn expected by analysts. The lender’s investment bank and its wealth [...]
Square Mile and Me: Enness CEO Islay Robinson on his career – and a flaming suit mishap August 1, 2024 Each week we ask a City figure to take a trip down memory lane. Today, Islay Robinson, CEO of Enness Global Mortgages, takes us through his career, from a flaming suit mishap to his love for London What was your first job? My first job was crushing boxes at a market when I was about 14. [...]
Mortgage market treads water before of Bank of England interest rate decision July 29, 2024 Bank of England data showed that the number of mortgage approvals, which indicate future borrowing, remained broadly steady in June at just under 60,000.
C-suite executives list tax certainty as a priority from Reeves, survey finds July 29, 2024 Clarity on tax is the number most important thing bosses want from the new government, a survey of C suite execs has found.
Rightmove urges Reeves to keep stamp duty threshold for first-time buyers as it posts ‘solid but uninspiring’ results July 26, 2024 Property giant Rightmove has called on the Government to retain the stamp duty threshold for first-time buyers, as it announced a solid but “uninspiring” set of results. Revenue at Rightmove rose by seven per cent to reach £192.1m, “as both agents and new homes developers renewed contracts, upgraded their packages and invested in additional products”, [...]
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.
Lloyds Bank profit slides as interest rate boom slows July 25, 2024 Lloyds Banking Group recorded a slide in profit in the first half of the year after a surge in costs and a slowdown in the amount of cash it was making on the back of interest rates. The group – which owns Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows – reported a pretax [...]
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 [...]