UK mortgage brokers expect interest rates to jump March 7, 2025 According to a new study, over two-thirds of UK mortgage brokers expect interest rates to stop falling and resume their upward trend by the beginning of next year. Butterfield Mortgages surveyed 300 brokers and 69 per cent said they believed the Bank of England base rate would be higher than the current level of 4.5 per cent [...]
Co-op Bank mortgage applications soar following takeover March 7, 2025 Mortgage applications boomed at Coventry Building Society’s new subsidiary, The Co-op Bank, in its first batch of financial results since the acquisition. The bank recorded £116.2m in pre-tax profit for 2024, down from the £120.9m booked in 2023 but in line with company expectations. It said lower mortgage margins and increased savings rates weighed on net interest income, dampening [...]
15 years on from The Big Short, securitisation is back March 7, 2025 The Big Short hit bookshelves 15 years ago, but the era of securitisation it depicts is far from over — in fact, it’s booming, says Tim Focas Fifteen years ago this month, Michael Lewis’s The Big Short hit bookshelves, exposing how Wall Street’s reckless financial engineering fuelled the 2008 financial crisis. It was a cautionary tale to [...]
Scottish Mortgage Investment Trust: City broker warns of underperformance March 5, 2025 City broker Stifel has warned that popular investment trust Scottish Mortgage might suffer from underperformance in coming years as growth-focused US stocks begin to fall out of favour with markets. In a research note today, Stifel analysts Iain Scouller and William Crighton said that noted that Scottish Mortgage’s share price has jumped around 27 per [...]
Abrdone: Can the vowel U-turn save Aberdeen? March 4, 2025 Abrdn has re-added the vowels to its name as part of a shocking branding U-turn. But will it play a role in rebuilding the asset manager’s fortunes? Does it even matter in the grand scheme of things? The much-mocked corporate moniker was finally retired today after years of Square Mile sniggering and, it must be [...]
Mortgage approvals up a fifth since January last year March 3, 2025 Mortgage approvals rose 18 per cent year on year in January after interest rate cuts improved affordability. Mortgage approvals sat at 66,189 in January, up 18 per cent from 55,941 in January 2024, according to ONS data. “UK homebuyers appear to have begun the year on the front foot,” CEO of specialist lender Octane Capital, [...]
First-time buying pushes house prices up ahead of stamp duty deadline February 28, 2025 First-time buyers continued to drive the housing market in February as they rush to purchase homes before the end of the stamp duty holiday at the end of March. The annual rate of UK house price growth was 3.9 per cent in February, compared with 4.1 per cent in January. House prices rose by 0.4 [...]
Yorkshire Building Society profit tumbles as margins fall February 27, 2025 Profit took a tumble at Yorkshire Building Society, as declining interest rates tightened the firm’s interest margins. The building society booked a £385.2m profit in 2024, compared to the £453.7m pocketed in 2023. The decline was largely due to net interest income falling £49.5m year-on-year, as increased pressure on mortgage and saving books boosted reductions. [...]
Lloyds shares jump despite profit slump February 20, 2025 Lloyds Banking Group’s shares jumped three per cent following market open, despite recording a profit hit after the firm set aside additional funds for potential motor finance payouts. The FTSE 100 lender’s pre-tax profit was down 20 per cent at £6bn, compared to £7.5bn in 2023. Analysts estimated the bank’s profit before tax at £6.5bn, [...]
Value of UK housing stock hits £9 trillion for the first time February 17, 2025 The total value of all homes across the UK has passed £9 trillion for the first time, according to new research by property firm Savills. After a brief slump in 2023, the UK’s housing stock grew by £346bn last year – meaning it is now more than 3.5 times the annual GDP of the UK. [...]