Why 2015 is the year to remortgage your home February 22, 2015 With the end in sight for record low borrowing costs, now is an "ideal time" for people to remortgage their homes, using fixed rates to lock-in favourable repayment terms ahead of a rate hike expected early next year. Since their peak in summer 2012, fixed rate mortgages fell in 18 of the 28 months to 3.15 [...]
UK house prices expected to slow but will stay at elevated levels February 19, 2015 Expectations of house prices dropped to an 18-month low this month, new figures show today. The Future House Price Index produced by estate agents Knight Frank and Markit fell to a score of 68.2, down from January’s 69.5. Any figure over 50 indicates prices are rising, and the higher the figure, the steeper the increase. [...]
Mortgage lending eases off as buyers’ frenzy draws to a close February 17, 2015 The boom in mortgage lending over 2013 and 2014 came to an end by the final months of last year, industry data showed yesterday. Last year saw a total of 676,900 home-owner purchase loans, up 11 per cent on the year and the highest number since 2007. By value, they amounted to £112.7bn, a rise [...]
Profits double at Aldermore ahead of float February 17, 2015 CHALLENGER bank Aldermore reassured potential investors by doubling profits over 2014, in an important declaration of strength after it had to cancel its stock market flotation last year. Pre-tax profits surged to £56m for the year and return on equity climbed to 19 per cent for the second half of 2014. Aldermore’s net loans increased [...]
In charts: London house prices are now 2.3 per cent below their peak February 17, 2015 London house price growth is slowing along with the UK’s, according to new data. In December, prices in the capital were 2.3 per cent below their August peak, with the rate of growth slowing from 15.3 per cent to 13.3 per cent. Back in May, London prices were on an annual growth roll of 20.1 [...]
Aldermore profits double in the run-up to its IPO February 17, 2015 The figures Pre-tax profits at challenger bank almost doubled to £56.3m in 2014, the bank – which is on the brink of listing on the stock exchange – said this morning. You can see why it wants to list: deposits jumped 29 per cent to £4.5bn, while net lending to businesses and home owners up 42 [...]
UK house prices: A return to optimism? – CNBC Comment February 16, 2015 The UK housing market is a favourite topic of conversation – a national pastime, even. But an abundance of different data types mean that statistics can swamp and confuse anyone looking to gauge the current climate. Property website Rightmove just announced its busiest ever month for house hunters, while Halifax saw its biggest January monthly [...]
First-time home buyers should get a mortgage rather than rent, says Halifax February 15, 2015 Record low mortgage rates are contributing to a market where it is cheaper for first-time buyers to buy rather than rent. The average monthly cost associated with a first-time buyer buying a three bedroom house was £658 in December, according to figures released by mortgage lender Halifax at the weekend. It compares to an average [...]
Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation February 12, 2015 Bank of England governor Mark Carney revealed yesterday that interest rates could drop even further below their historic low of 0.5 per cent, as the collapse in global oil prices drags Britain towards deflation. In a mandatory letter to chancellor George Osborne, Carney said that if “global activity continues to disappoint, or if low inflation [...]
Focus on Earlsfield: The hidden wonder near Nappy Valley February 12, 2015 A few years ago, I’d say where I lived and no one would have a clue where it was,” says Rupert Grieg, sales manager at Foxtons’ Earlsfield branch. “But then you said, it’s between Wimbledon and Balham, and suddenly it made sense.” For most people, this is probably still true. Swamped by popular neighbours – [...]