Don’t be fooled by data quirks, sky high interest rates are hurting Brits January 10, 2024 Higher interest rates are good news for some, but we should not let that distract from the overwhelming reality, writes Kevin Ferriter.
Nationwide customers to enjoy £385m account windfall after bumper year May 23, 2024 Nationwide plans to pay around £385m directly into customers' accounts as Britain's largest building society continues to enjoy bumper earnings on the back of higher interest rates.
Scottish affordable house builder Springfield Properties latest to feel the pain of property slowdown February 20, 2024 A Scottish house building company is one of the latest to be financially bruised by last year’s slowdown in property sales.
Two-year mortgage rates have biggest monthly drop since 2022 as Santander is latest to cut February 12, 2024 Average two-year fixed mortgage rates have seen their biggest monthly drop since December 2022, according to a financial information website, despite mounting economic pressure squeezing lenders' margins.
Santander UK profit slides amid mortgage price war and rate cut expectations April 30, 2024 Santander UK has reported a 29 per cent slump in profit as the boost from higher interest rates fades and a fiercely competitive mortgage market forces it to offer better deals to customers.
Rising mortgage rates sends demand for homes down 18 per cent, new data shows July 28, 2023 Rising mortgage rates has reduced demand for homes by 18 per cent, Zoopla’s latest House Price Index revealed today. This weaker demand, coupled with rising supply, saw UK house price growth shrink to 0.6 per cent for June, down from 9.6 per cent for the same month last year. The estate agent said it expects [...]
House prices rise 1.7 per cent – but Brits advised they will keep coming down August 16, 2023 Average UK house prices increased by 1.7 per cent in the 12 months to June down from a revised 1.8 per cent in May 2023, but property experts are warning this won’t continue for long. New figures from the Office for National Statistics show the cost of a home in the UK is £5,000 more [...]
Natwest chair says “it’s not that difficult” to buy a house. The data disagrees. January 5, 2024 House prices continue to outpace wage growth but Natwest chair Sir Howard Davies has told youngsters it's "not that difficult" to get on the ladder
Mortgage defaults expected to pick up as rising rates hits borrowers, say lenders July 13, 2023 Banks and building societies expect the level of mortgage defaults to increase over the next quarter as the impact of rising interest rates filters through the economy. In the Bank of England’s quarterly credit conditions survey, lenders reported “losses and default rates on secured loans to households increased in Q2, and were expected to increase [...]
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.