Mortgage Advice Bureau shares jump as firm hails ‘growing market momentum’ September 24, 2024 Shares in Mortgage Advice Bureau jumped as much as 15 per cent on Tuesday morning after the financial services firm hailed "growing market momentum" after a "highly challenging 2023".
China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
Misery index gives cause for hope September 23, 2024 There is an unmistakable inverse correlation between emiserating factors like unemployment, wages and house prices and consumer confidence, but new analysis suggests things may be looking up, says James Sproule The cost-of-living crisis may be difficult to define or quantify, but it is easy enough to feel – and misery has been felt not just [...]
Two-year mortgage rates fall as markets brace for future interest rate cuts September 20, 2024 Two-year mortgage deals are becoming increasingly competitive as rates continue to fall faster than longer-term deals.
LSL: Mortgage and valuation giant bounces back on restructure and activity picking up September 18, 2024 LSL Property Services, one of the largest providers of mortgage and valuation services, has reported significantly improved results due a company restructuring and improved sentiment in the housing market. Revenue rose by 18 per cent year on year, from £72.5m to £85.4m, while underlying profit rose by 354 per cent year on year, from £3.2m [...]
Rightmove: Average price tag on a home jumped by almost £3,000 in September September 16, 2024 The average price tag on a home jumped by nearly £3,000 in September, according to a property website. Across Britain, the typical price being asked for a home coming onto the market increased by 0.8 per cent or £2,974 to reach £370,759. September usually sees a month-on-month price jump, but this year’s increase of 0.8 [...]
Property market turns positive for first time in two years September 12, 2024 House prices significantly outperformed analyst expectations after the Bank of England cut its base interest rate, data from a closely watched survey from the Royal Institute of Chartered Surveyors (RICS) showed. The survey found that the UK house price balance, which measures the difference between the percentage of survey respondents reporting rising house prices and [...]
Epwin expects demand for building products to ‘remain subdued’ in 2024 September 11, 2024 Building products supplier Epwin has posted a slide in revenue for the first half of 2024 and said demand would likely "remain subdued" through the rest of the year.
Value of mortgages in arrears hits highest level since 2014 – Bank of England September 10, 2024 Mortgage holders are continuing to feel the pain from the Bank of England’s efforts to combat inflation, according to new figures. Data released by the Bank showed that the value of outstanding mortgages in arrears hit £21.9bn in the second quarter of this year, the highest figure since 2014. This was a 32 per cent [...]
Lendinvest: Fintech lands £500m investment from JPMorgan September 10, 2024 Property fintech Lendinvest has added £500m to a funding deal with JPMorgan as it looks to return to profitability after a rough year for mortgage lenders.