City helps UK pull ahead of rivals to be Europe’s top destination for investment in financial services
Mortgage growth set to reach decade low as high rates drive down demand November 6, 2023 The EY Item Club predicted that net mortgage loans would grow 1.5 per cent in 2023 and two per cent in 2024, representing the lowest two-year growth in a decade.
Mortgage rates are dropping — could they ‘continue to edge downwards’? November 6, 2023 A managing partner at Knight Frank Finance said the below five per cent mortgage rates would help improve property market sentiment
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Brits hurt by most ‘unfriendly’ mortgage market in the world: lending boss October 22, 2023 The UK's mortgage market is one of the most "consumer unfriendly" markets in the world due to the prevalence of short term deals, boss of new mortgage lender Perenna told City AM.
Bellway: Tough mortgage market sees profit before tax fall of 18 per cent October 17, 2023 As a result of the unruly buyer market Bellway said it expects the average selling price of a home in the next financial year to be around £295k down from £310k in 2023.
Interest rates: Higher borrowing costs to dent mortgage lending further, banks report October 12, 2023 The rate of defaults is expected to increase as customers struggle under the weight of higher borrowing costs.
Why mortgage rates are still heading down despite rising bond yields October 11, 2023 Mortgage rates have continued falling in the UK even as yields on government bonds have increased.
Mortgage and remortgage approvals fall as higher interest rates hits property market September 29, 2023 New mortgage approvals fell to the lowest level in six months while approvals for remortgaging plummeted as rising interest rates dented the mortgage market.
London sees 24 per cent drop in first-time buyers as high mortgage rates bite September 27, 2023 London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
Brits face mortgage crisis as number in arrears climbs to highest this decade September 12, 2023 New arrears cases accounted for 16 per cent of total outstanding balances, which was roughly constant to the previous quarter.