Challenger bank Aldermore looking as safe as houses in third quarter results, as residential mortgages push up lending, but share price drops November 12, 2015 Aldermore has today reported loan growth of about £1bn over the last nine months, bringing total net loans to customers to £5.8bn, an increase of 20 per cent from the end of December. In its third-quarter results for 2015, the challenger bank, which was set up by former Barclays executive Phillip Monks, said it was on [...]
Co-Op Bank given breathing space on capital requirements by Bank of England body Prudential Regulation Authority November 12, 2015 The Bank of England's Prudential Regulation Authority (PRA) has said the Co-Operative Bank does not need to issue more debt to cover its capital requirements this year. The Co-Op Bank was the only UK lender to fail the BoE's stress tests last year. The minimum capital ratio needed to pass the test was 4.5 per cent; [...]
House purchase lending jumps to seven-year for October November 12, 2015 Mortgage lending reached its highest level for the month of October in seven years, new data released today shows, as low inflation rates and rising wages helped keep consumer confidence levels high. Overall house purchase lending approvals reached 72,409 in October, up by 5.1 per cent on the previous month and 21.9 per cent ahead [...]
First-time buyers fuel rise in mortgage lending in September November 11, 2015 Mortgage lending rose year-on-year in September, new data shows, driven by a jump in first time buyers taking out new loans. The month saw 28,600 first-time buyers take out mortgages, according to the Council of Mortgage Lenders (CML), which was up four per cent on the previous month and by 8.7 per cent year-on-year. By value, [...]
Barratt Developments shares fall despite 20 per cent jump in sales November 11, 2015 Shares in Barratt Developments fell this morning despite Britain’s biggest housebuilder reporting a strong start to the autumn selling season thanks to “high levels of consumer demand” across all regions. Forward sales (including joint ventures) jumped by 20.7 per cent to £2.5bn across 11,033 plots in the 19 weeks to 8 November compared with £2.07bn [...]
UK house prices: “Just move out of London” – one mortgage site’s solution to Generation Rent’s affordability crisis November 11, 2015 Nowhere has the UK's housing crisis been more potent than in the capital, where a generation of people – dubbed "Generation Rent" – has been priced out of the property market. Now one mortgage site has a solution: go somewhere else. MyLocalMortgage.co.uk reckons if Generation Rent wants "cheaper housing and higher life satisfaction, it should just move out [...]
Miners fearing US rate rise pull down FTSE 100 – London Report November 10, 2015 UTILITIES, the InterContinental Hotels Group and mining companies yesterday weighed on the FTSE 100. The blue-chip share index closed 0.92 per cent lower at 6,295. InterContinental Hotels Group, one of the world’s largest hoteliers, saw its share price fall 4.83 per cent during the day to 2,640p per share, after denying rumours of a possible [...]
Easy does it: How to find value in the new normal November 10, 2015 October's relief rally in equity markets should have provided just that – relief. The trouble is that, with positions washed out, sentiment still fragile and macro data still mixed, few participated fully in the move and many simply didn’t believe in it. Many commentators – bullish and bearish alike – appear very happy to [...]
At the close: FTSE 100 taken lower by Glencore and InterContinental Hotels Group November 9, 2015 The FTSE 100 ended Monday's trading session lower, taken down by utility and mining companies as well as InterContinental Hotels Group. The blue chip share index closed 0.92 per cent lower at 6,295. InterContinental Hotels Group, one of the world's largest hoteliers, saw its share price fall 4.83 per cent during the day to 2,640p per share, [...]
PwC: Investment in UK-held assets will account for more than half of all investment across Europe November 9, 2015 British banks are leading the way in disposing of unwanted loan portfolios, according to a new report out today from PwC. Analysts from PwC’s portfolio advisory group found that European banks are disposing of unwanted loan portfolios at record rates and performing portfolios are becoming increasing popular, with investment in UK-held assets accounting for more [...]