Mortgage applications soar after coronavirus lockdown lifted October 14, 2020 Mortgage applications soared after lockdown was lifted this summer, reaching an estimated value of £216bn, however the closure of the housing market means lending is expected to be down compared to last year. Pent-up demand and government incentives helped to jolt the UK property market back to life after restrictions were eased following the UK [...]
House prices rise as spring selling season boosts UK property market May 20, 2024 The average price of UK property coming to the market reached record levels in May, rising by £2,807, as the spring selling season lends itself to the recovery of the housing market.
Prime London Housing market holding up against backdrop of high interest rates October 4, 2023 The prime property market in London appears to be holding up relatively strongly in the face of rising interest rates, according to an index. House prices in prime central London in the third quarter of 2023 were typically 1.2 per cent lower than a year earlier, estate agent Savills reported. Property values across London’s prime property market generally were down by 2.1 per cent annually in the third quarter of this year. [...]
Credit Suisse in High Court tomorrow: Bank sued over securities linked to 2008 crisis April 19, 2023 Credit Suisse is set to appear at the High Court in London on Thursday to defend itself against a $160m (£129m) claim over allegations the Swiss bank made “fraudulent misrepresentations” related to the sale of residential mortgage-backed securities. The claim, brought by Loreley Financing, a subsidiary of German bank IKB, argues it was misled by [...]
Who is buying London’s mansions? 60 per cent go to wealthy buyers from four countries February 23, 2024 The super-prime market in London is booming. More mansions in the capital are being sold, for higher prices, to an increasingly international base. In 2023, sales of super-luxury new-build London apartments rose by 137 per cent to an average of £4,306 per square foot, according to Beauchamp Estates. Supply of luxury houses has also been boosted by an influx [...]
Clintons: Card giant axes stores and hundreds of staff as it slips back into the red June 13, 2024 Gift card giant Clintons has fallen back into the red after laying off hundreds of staff and closing more than 50 UK stores, as its owners grapple with its customers' changing shopping habits.
Metro Bank reports £500m drop in lending as it pivots to higher-margin products April 30, 2024 Metro Bank has reported a fall in lending at the start of 2024 but saw a rise in deposits as it looks to rebound from potential collapse last year.
Happening today: All you need to know as the Bank of England set to raise rates again June 22, 2023 The Bank of England is poised to raise interest rates for the 13th time in a row after disappointing inflation figures showed price rises have not eased. The UK’s Consumer Prices Index (CPI) was unchanged in May at a rate of 8.7 per cent , according to the Office for National Statistics. It came in [...]
FTSE 100 close: Barclays, NatWest and Lloyds all surge after Bank of England gives clean bill of health to lenders July 12, 2023 London’s FTSE 100 was yanked higher today by Britain’s biggest banks surging after being given a clean bill of health by the Bank of England this morning. The capital’s premier index notched one of its best days in weeks, surging 1.83 per cent to 7,416.10 points, while the domestically-focused mid-cap FTSE 250 index, which is [...]
Taylor Wimpey’s order book shrinks amid ‘value over volume’ approach April 23, 2024 Housebuilder Taylor Wimpey has reported a smaller order book and fewer sales so far this year amid "market uncertainty and affordability challenges" as it looks to growth in 2025.