London house prices fall but still almost double national average according to Halifax property index March 7, 2023 London house prices have fallen by almost one per cent from January, but property in the capital still costs £240,000 more than the national average. Halifax’s latest house price index for February showed the rate of annual national growth slowed across the UK, with the average property now sitting at £285,476. In the capital however, [...]
FTSE 100 close: Dovish Bank of England interest rate bets extend London gains July 20, 2023 London’s FTSE 100 extended gains today as traders continued to cheer signs that UK inflation may have finally turned a corner. The capital’s premier index hopped 0.76 per cent to 7,646.05 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly unchanged at 19,311.73 [...]
Bank of England lifts interest rates to fresh 15 year high in smaller than feared 14th straight hike August 3, 2023 The Bank of England today hiked the UK’s official interest rate for the 14th time in a row but by a lower degree than some had feared. Members of the nine-strong monetary policy committee (MPC) voted 6-3 in favour of a 25 basis point rise, smaller than the 50 basis point lift some in the [...]
UK banks return to amassing default reserves amid inflation and mortgage crunch October 26, 2022 Barclays said profits had jumped six per cent in the third quarter of the year as it became the latest lender to see performance buoyed by rising interest rates.
Nationwide agrees terms for £2.9bn Virgin Money takeover to create second-largest UK mortgages and savings provider March 7, 2024 Nationwide, the UK’s largest building society, has struck a preliminary agreement to acquire Virgin Money, Britain’s sixth-biggest high street bank, valuing the latter at around £2.9bn.
Airline shares have started to slide – is this the end of the great rebound? November 1, 2023 Airline shares have flown high this year after record demand for travel swept across the sector over summer. But cracks are starting to show.
House prices: Third of asking prices knocked down by £20,000 September 18, 2023 House prices are still being battered by high mortgage rates, with a third of properties knocked down in price by an average of £22,000
UK economy swings back to growth but spectre of recession looms amid interest rate fears June 14, 2023 Britain’s economy swung back to growth in spring, but the recent turmoil in the mortgage market and the prospect of the Bank of England hiking interest rates aggressively has put the risk of a recession back on the table. Official figures out today from the Office for National Statistics (ONS) showed gross domestic product – [...]
House prices to fall further next year as sellers drop prices says Rightmove December 4, 2023 House prices will fall one per cent next year as competition heats up amongst sellers, according to property portal Rightmove.
Virgin Money warns of margin and cost pressures as Nationwide merger looms June 13, 2024 Virgin Money has posted a rise in profit but warned of margin pressure and limited cost savings, as it gears up for a mega-merger with Nationwide.