Mortgage approvals to first-time buyers hit highest level in more than a year October 16, 2018 The number of first-time buyer mortgage approvals hit 35,500 in August, reaching the highest level in more than a year. The figure was two per cent more than the previous month and peaked at the highest number since June 2017, according to UK Finance's Mortgage Trends Update. Read more: Foxtons closes flagship Park Lane office New lending to [...]
CYBG joins the big British banks’ risk model club ahead of Virgin Money merger October 11, 2018 Challenger bank CYBG today announced it has received the regulatory thumbs-up to use its own risk models to determine how much capital it must hold, in a move which could potentially allow it to hold less. The firm, which owns the Clydesdale and Yorkshire banking brands and is currently merging with Virgin Money, said the [...]
Buyer’s market: UK house prices post biggest fall since April as mortgage approval rates rise October 5, 2018 UK house prices saw their biggest fall in five months in September, while price increases compared to the same period in 2017 slowed to a three-month low. Figures from Halifax today showed the standard average house price in the UK fell to £225,995 in September, down from £229,284 the month before. This was also only [...]
UK house prices show modest growth for September October 2, 2018 UK house prices grew two per cent year on year for September, according to new figures released today, but London house prices declined. Homes in the capital fell by less than one per cent compared to the same period of 2017, Nationwide reported today, against a fairly stable picture for the whole of the UK. [...]
Mortgage approvals hit seven-month high but caution lingers as year-on-year growth dips October 1, 2018 The number of mortgages being approved hit a seven-month high in August, suggesting a modest pick-up in buyers after the traditional summer slowdown. According to the latest Bank of England (BoE) statistics out today, mortgage approvals climbed to 66,440 last month, marking the highest level since January 2018. However, housing experts remained cautious on the [...]
Firms risk being left behind in Libor benchmark transition warn bankers October 1, 2018 A lack of awareness of the urgent need to transition away from scandal-hit Libor interest rates means some firms risk not being ready before the benchmarks become defunct, according to a top banker working on the issue. There remains a significant amount of work to educate firms about the far-reaching implications of the shift from [...]
UK mortgage approvals for new house purchases tumble despite growth in remortgaging September 26, 2018 The number of mortgages approved for house purchases was almost five per cent lower in August compared with the same time last year, providing fresh evidence of flat activity in London’s property market. Despite the fall in new mortgage approvals, remortgaging soared 9.2 per cent during the month, as a rising number of homeowners [...]
Strictly Come Dancing professionals make a PR misstep in potential pay row dispute September 24, 2018 Glitter balls, sequins, the foxtrot, and the rest… Daaarling! It is that time of the year again as Strictly Come Dancing waltzed back on to our screens on Saturday night. New celebs, new dancers, new routine – same old format. There will be Craig Revel Horwood looking unimpressed, break-ups, make-ups, tears, injuries, tantrums, and [...]
Housing market remains flat as year-on-year property deals tumble September 21, 2018 The number of properties being bought and sold in the UK suffered an annual 2.6 per cent drop last month, signalling the latest evidence that activity in the country’s housing market remains flat. While total property transactions climbed 1.3 per cent between July and August to 99,120, today’s figures also show a 2.6 per cent [...]
Housing market remains flat as year-on-year property deals tumble September 21, 2018 The number of properties being bought and sold in the UK suffered an annual 2.6 per cent drop last month, signalling the latest evidence that activity in the country’s housing market remains flat. While total property transactions climbed 1.3 per cent between July and August to 99,120, today’s figures also show a 2.6 per cent [...]