UK homeowners brace for interest rate hike with fixed mortgage payments August 20, 2014 Most homeowners in the south east are worried about the impact of an interest rate hike in the next 12 months, a Halifax study shows today. However, increasing numbers are preparing for the increase by fixing their mortgage payments. Halifax found 53 per cent of people in the south east were concerned about rates, while [...]
Mortgage lending rises 15pc to its highest level since 2008 August 20, 2014 Gross mortgage lending rose to £19.1bn in July, the Council of Mortgage Lenders (CML) said today – the highest monthly figure since August 2008, when it stood at £19.3bn. The figure rose 17 per cent from £16.7bn in July 2013, and seven per cent from June's £17.9bn. The number of property transactions also increased, by [...]
Banker belt boom outside London will be a boon to Bovis Homes – Bottom Line August 18, 2014 Six weeks ago I wrote on these pages that I thought there was “scope for housebuilders to continue their bull run”. Bovis Homes is thus well and truly in my good books. Yesterday’s strong set of results boosted its share price, which is now 7.5 per cent higher than when I penned my last bullish [...]
CNBC Comment: Why Germany risks a property bubble August 18, 2014 HEAR the words “London property”, and “bubble” is rarely far behind. House prices in the capital rose by 20 per cent in the year to May – although last week’s Rics indicator showed that the market is now pausing for breath, as it responds to warnings over tougher mortgage standards and the expectation of higher [...]
UK house prices down 2.9 per cent in a month, London’s drop 5.9 per cent August 18, 2014 After the great heating comes the cooling: according to the latest figures from Rightmove the property market is slowing down. House prices across England and Wales were down 2.9 per cent, constituting the biggest drop Rightmove has ever seen in August. London prices, forever ahead of the curve, fell by 5.9 per cent. Every borough in [...]
Northern Rock launches Societe Generale toxic debt suit August 14, 2014 Northern Rock is suing Societe Generale, alleging the French investment bank knowingly sold it toxic mortgage assets dressed up as valuable securities. The so-called bad bank part of the failed British lender was given permission by a New York judge to launch the suit after he kicked out SocGen’s attempt to get the case scrapped. [...]
Home repossessions slide to lowest since crisis ahead of interest rate hike August 14, 2014 The lowest number of homes were repossessed in the first half of 2014 than in any six month period since 2006, according to figures released yesterday. The Council of Mortgage Lenders (CML) yesterday showed that 11,800 homes were repossessed in the first half of the year, down from 15,600 in the first half of 2013. [...]
Top five tips for buying property at auction for beginners August 14, 2014 There’s more than one way to buy a property, but a significant proportion of buyers still favour making a trip to the estate agent or, increasingly, searching online to find their next home. For years, savvy property investors have found bargains in auction houses, where a vast range of buildings, from period houses in need [...]
When will UK interest rates rise? Not anytime soon according to MPC member David Miles August 14, 2014 Don't expect the Bank of England (BoE) to be raising interest rate anytime soon. That is the message from monetary policy committee (MPC) member David Miles this morning. Miles said that a subdued outlook on inflation means the BoE will not be pushed into increasing the interest rate, which has been held at 0.5 [...]
How to position your portfolio for the coming base rate hike – Investment Comment August 12, 2014 Hamlet wasn’t talking about the next move for interest rates when he said, “if it be not now, yet it will come – the readiness is all.” But the advice is sound. Although today’s quarterly inflation report may reveal some clues, we still don’t know when the first hike in UK base rates will [...]