Chancellor to meet with Lloyds, Barclays and Natwest executives over share slumps January 18, 2024 Chancellor Jeremy Hunt is convening a summit with bosses from the UK's largest banks to discuss concerns that their poor share performance is preventing more lending into the economy.
Time is up for supermarket challenger banks, analysts say January 18, 2024 Sainsbury's announced on Thursday morning that it would undertake a “phased withdrawal” from its banking business following a strategic review. There are no immediate changes for customers.
Bank of England survey: Default rates continue rising in 2023 – but at slower pace January 18, 2024 According to bank responses to the Bank of England's quarterly credit conditions survey, default rates on secured lending - which includes mortgage lending - increased in the final quarter of 2023.
AJ Bell share price rises as AUA reaches record high thanks to net inflows January 18, 2024 In a trading update covering the three months to December, the firm that AUA in its platform business had climbed seven per cent in the quarter. This brought it to £76.2bn, a new record for the firm.
FTSE 100 today: London markets likely to open in red following weak global cues January 18, 2024 Global stocks fall, China shares hits 5-year low, greenback nears one-month peak, and oil prices rise; focus shifts to Christine Lagarde's speech and U.S. economic data.
Surprise inflation uptick poses new challenge in mortgage price war January 17, 2024 Mortgage rates continue to edge downwards as almost 50 lenders have offered new deals since the start of the year, although brokers warn that a surprise increase in inflation could buck this trend.
London house prices crater as UK reports biggest drop since 2011– but experts are doubtful of data January 17, 2024 The capital saw the biggest drop in the UK, but still had the most expensive homes at £505,000, almost double the UK average of £285,000. This is £6,000 down on the average from 2022.
Childcare costs mean it makes ‘no financial sense for many mothers to work’: official report January 17, 2024 London’s economy could be being held back by around £5bn a year due to issues with childcare costs and shortages.
Crest Nicholson: Housebuilder issues profit warning over runaway costs and readies for legal bill over 2021 fire January 15, 2024 Crest Nicholson has lowered its profit guidance for the year due to issues at its Brightwells Yard regeneration scheme in Farnham.
House prices make biggest January leap since 2020 amid mortgage price war January 15, 2024 House prices made their biggest month-on-month leap in December to January since the pandemic, rising by 1.3 per cent to £359k.