Accounts boost for Nationwide May 27, 2014 NATIONWIDE is set to announce a 15 per cent rise in new accounts being opened in its annual results today, according to reports from Sky News. The building society looks to have gained more than 420,000 new current accounts last year compared to 365,000 in the previous financial year, despite the effect of a new [...]
Nationwide sets mortgage cap and tough new stress test for home buyers July 22, 2014 Nationwide has announced it is capping all new mortgages at 4.75 times the income of the borrower, and setting a tough new stress test to ward off concerns over interest rate rises. The bank will impose a new 6.99 per cent stress test, an increase on the existing rate, although a spokesperson would not reveal [...]
Nick Clegg to be saved in Sheffield Hallam thanks to Tory tactical voting, says latest poll May 4, 2015 Nick Clegg is set to win his Sheffield Hallam seat thanks to a substantial number of Tory voters who are planning to switch to the Lib Dems to keep Labour out. A Guardian ICM poll shows Clegg on 42 per cent compared with his Labour challenger Oliver Coppard on 35 per cent. The Conservative candidate [...]
Reports reveal services leading the UK recovery – London Report May 31, 2015 THE UK service sector is once again expected to be the star turn as purchasing managers (PMI) reports this week show continued economic growth. Figures due out on Wednesday are expected to show the sector held up well in May, remaining stable at 59.5 (with 50 and above denoting growth) after rising to this level [...]
UK national rail strike: Bank holiday train chaos likely to hit brand reputations for all players – Brand Index May 19, 2015 Network Rail workers last Friday announced their plans to strike from 5pm on bank holiday Monday in a row over pay. Should it go ahead, it will be the first UK-wide rail strike for 20 years. It follows a vote for action from RMT union members, but has been condemned by Transport Secretary Patrick McLoughlin. [...]
House prices fell in February on slow demand… March 2, 2015 BRITAIN’S housing market saw a tiny readjustment in February, as prices fell on the month, Nationwide figures showed yesterday. On a monthly basis prices fell 0.1 per cent to an average of £187,964. That compares with a rise of 0.3 per cent in January, and is the first fall since September 2014. On an annual [...]
Mortgage approvals soar to a six-month high in February March 30, 2015 Mortgage approvals soared to a six-month high in February, data released by the Bank of England today shows. Threadneedle Street said mortgage approvals rose to 61,760 in February, which was up from 60,707 in January.This marks the third consecutive month of growth since approvals hit a 17-month low of 58,944 in November. Despite the gains mortgage [...]
UK house price growth means regional rents are now rising faster than in London May 14, 2015 London’s rental prices are no longer the fastest growing in the country. Other regions have outstripped the capital, with the south west the leader with a whopping 15.5 per cent growth in the last year. The figures According to Homelet, UK rental prices for the three months to April rose by 10 per cent, and [...]
Broker warns UK house price rise could accelerate April 9, 2015 House price growth has cooled since last year’s boom, but price growth remains high and could pick up again, a mortgage broker has warned. The average UK house price was £192,970 in March, 8.1 per cent higher than a year ago, according to figures released by Halifax yesterday. A boom in house prices last year [...]
Mutuals will now be able to issue shares – transforming competition in finance April 7, 2015 The Mutuals’ Deferred Shares Bill received Royal Assent last month. The Act will give mutual businesses a new option to raise tier one capital in the form of deferred shares. This is good news for leading mutuals like LV=, but what will this mean in practice and does it change the competitiveness of mutuals in [...]