Shelter warns of struggle to pay house bills January 4, 2015 OVER 3m people could be at risk of missing mortgage or rent payments this month, housing and homelessness campaign group Shelter will say today. According to a survey commissioned by Shelter and undertaken by YouGov, 11 per cent of people who pay rent or have a mortgage are worried about covering their housing costs in [...]
US jobs data gives snapshot of economy – The week ahead on Wall St January 4, 2015 INVESTORS will get a fresh snapshot of the state of the US economy at the start of 2015 on Friday, when figures for nonfarm payrolls, the unemployment rate and wholesale inventories are announced. The unemployment rate for December is likely to remain at 5.8 per cent, according to analysts, while weekly jobless claims for January, [...]
Bank of England: Mortgage approvals fall to 17-month low January 2, 2015 The number of mortgages rubber-stamped by banks dropped again in November, although by less than analysts had expected. Nevertheless, the figure is a 17-month low, underlining the trajectory of the market. During the month, banks approved 59,029 mortgages, down from 59,511 in October, but above the 58,500 analyst consensus. The fall has been a [...]
UK house price growth slows again: Can stamp duty save the market in 2015? December 30, 2014 We know the drill by now – slowing house price growth in many areas as demand wanes and the murmurings about a base rate rise reflect the logic that no matter what, it’s getting closer. Why exactly demand is waning remains something of a mystery (more of that later). Nationwide’s figures this month [...]
Further oil price drop could pose financial threat to UK stability December 22, 2014 Financial market regulators have warned that if the fall in oil prices were sustained, it could be a problem for the UK’s financial stability. Falling prices could impact on the ability of some businesses to service their debt. Some such businesses are US oil and gas exploration firms, according to the minutes of [...]
Which were the best and worst investments of 2014? December 22, 2014 This year low interest rates have seen investors who bet on traditional investments receive returns tantamount to chickenfeed. Perhaps we should have given up before we'd all even started? Perhaps not. Investors who plumped for chocolate, property, the US dollar and Aim-listed company Fitbug would have watched as their money practically grew on trees. Conversely, [...]
Eight charts that sum up 2014 December 22, 2014 This year will be remembered for the fragmentation of mainstream politics, Scotland's near exit from the 307-year old union and an economy which the Bank's chief economist Andy Haldane described as "writhing in both agony and ecstasy." What does all that look like? Here are eight charts that sum up the year. (Source: Getty) 1. [...]
Mortgage rates lowest since 2007 December 15, 2014 Record price cuts have taken mortgage rates to their lowest rates since 2007, a mortgage broker said today. The average interest rate on two- year tracker mortgages – that track some interest rate, typically the Bank of England’s base rate – dropped by 0.28 per cent to 2.38 per cent in the three months to [...]
UK house price lull could be over as lending picks up December 11, 2014 The recent slowdown in house price growth may have already ended, a new set of data shows. House price growth accelerated to 11.3 per cent in November from 11 per cent in October, according to figures released today by LSL property services. The growth rates were lifted by London and the south east. “After a [...]
Northern Rock to repay £261m: Thousands of customers to receive over £6,000 each December 10, 2014 The remains of Northern Rock have been ordered to pay back £261m in interest and fees to borrowers, due to badly worded paperwork, the High Court decided yesterday. Northern Rock Asset Management (NRAM) is owned by the government, which nationalised the Newcastle-based lender when it collapsed in 2007. As a result, the bill for compensation [...]