Bank of England: UK mortgage approvals fall to their lowest since 2013 December 1, 2014 The number of mortgages approved by banks fell to their lowest since June last year in October, figures by the Bank of England showed today. There were 59,426 approvals for house purchases during the month, down from 61,234 in September. That's down from an average of 63,727 over past six months. Mortgage approvals have been [...]
Nationwide House Price Index: House price growth slides to 11-month low in November November 28, 2014 House price growth slid to an 11-month low in November as the British housing market continued to cool, according figures released by Nationwide today. The Nationwide House Price Index showed house prices rose 8.5 per cent in the year to November, taking growth to an 11-month low. Price growth for the three months to September [...]
We need to talk money: Why it’s time to break this damaging British taboo November 26, 2014 MANY of my recent articles – on elderly care provision, student finance, and housing in particular – have focused on these problems from the point of view of public policy. But this is only one half of the story. The other half is how ordinary people have to grapple with these serious financial issues every [...]
House prices to normalise… November 25, 2014 A MAJOR UK mortgage provider has said it expected house prices to moderate next year. Halifax yesterday said it expected prices to increase between three and five per cent in 2015. The prospect of higher interest rates and a reduction in affordability are expected to weigh on demand. However, strong economic growth, higher employment and [...]
…while lending drops further November 25, 2014 MORTGAGE approvals for house purchases declined for a fourth consecutive month as the market showed signs of slowing. The 37,076 approvals in October mark a 17-month low, according to figures released yesterday by the British Bankers Association. “With housing market activity appreciably off its early-2014 highs, we suspect house prices will generally rise at a [...]
Mortgage approvals fall to their lowest in 17 months as unsecured borrowing leaps November 25, 2014 The Bank of England's Mortgage Market Review (MMR) continues to wreak havoc on mortgage lending. Figures published this morning showed approvals fell to 37,100 in October, their lowest level in 17 months in October. Analysts had expected the British Bankers' Association's (BBA) high street banking statistics to show a more modest fall from September's 39,300 [...]
Deadline to Breadline is extended but L&G warns over affect of rise in rates November 24, 2014 An average working-age family will be reliant on state benefits and friends and family alone for financial support within two weeks of losing their income, once their savings run out, a report reveals today. And according Legal & General’s latest Deadline to the Breadline Report, with over 65s included, the overall average deadline is still [...]
London leads UK-wide house price slowdown November 20, 2014 More evidence has emerged that suggests London house price growth is set to slow sharply while the national market moderates. Of the UK’s 20 largest cities, 14 are now registering house price inflation below the national average for the UK, according to data released today by property market analysts Hometrack. Over the past 12 months, [...]
Home loan rates set to drop more as HSBC introduces record low mortgage of 0.99pc November 19, 2014 Mortgage rates are poised to break new records and edge even further down. HSBC recently made headlines by introducing a record low mortgage rate of 0.99 per cent, with economists from the bank predicting policy rates would stay at their all-time lows of 0.5 per cent until at least 2016. It looks unlikely to end [...]
Save money with a currency specialist November 19, 2014 Many people still rely on their banks when they need to make an international transfer, but banks don’t typically offer the most competitive exchange rates. With City A.M. International Payments you could get an exchange rate which is 3-4pc more competitive than you can expect from your high street bank. So on a transfer of [...]