Consumer credit growth stutters to three-year low as UK house purchases fall back October 29, 2018 Consumer borrowing grew at its lowest rate for three years last month after car sales dropped 20 per cent, the Bank of England revealed today. The annual growth rate of consumer borrowing hit 7.7 per cent last month, the lowest it's been since June 2015, and far below the 10.09 per cent growth rate in [...]
RBS share price drops as it disappoints investors on key profitability metric October 26, 2018 Profits are up 10 per cent year-on-year at Royal Bank of Scotland (RBS), it said in its third quarter results today, though shares dipped as it missed a key target and set money aside to handle PPI claims. The figures The bank reported pre-tax profits of £961m for the quarter, up 10 per cent from [...]
Mortgage approvals fall to six-month low in September as experts warn of ‘fragile’ housing market October 24, 2018 Mortgage approvals fell to their lowest value in half a year in September, according to the latest data from UK Finance, meaning every month of 2018 so far has dropped against 2017 approval numbers. Lending amounted to £21.5bn for the month, the lowest since the £20.6bn recorded in April and a drop of 1.2 per [...]
Mortgage approvals to first-time buyers hit highest level in more than a year October 16, 2018 The number of first-time buyer mortgage approvals hit 35,500 in August, reaching the highest level in more than a year. The figure was two per cent more than the previous month and peaked at the highest number since June 2017, according to UK Finance's Mortgage Trends Update. Read more: Foxtons closes flagship Park Lane office New lending to [...]
CYBG joins the big British banks’ risk model club ahead of Virgin Money merger October 11, 2018 Challenger bank CYBG today announced it has received the regulatory thumbs-up to use its own risk models to determine how much capital it must hold, in a move which could potentially allow it to hold less. The firm, which owns the Clydesdale and Yorkshire banking brands and is currently merging with Virgin Money, said the [...]
Buyer’s market: UK house prices post biggest fall since April as mortgage approval rates rise October 5, 2018 UK house prices saw their biggest fall in five months in September, while price increases compared to the same period in 2017 slowed to a three-month low. Figures from Halifax today showed the standard average house price in the UK fell to £225,995 in September, down from £229,284 the month before. This was also only [...]
UK house prices show modest growth for September October 2, 2018 UK house prices grew two per cent year on year for September, according to new figures released today, but London house prices declined. Homes in the capital fell by less than one per cent compared to the same period of 2017, Nationwide reported today, against a fairly stable picture for the whole of the UK. [...]
Mortgage approvals hit seven-month high but caution lingers as year-on-year growth dips October 1, 2018 The number of mortgages being approved hit a seven-month high in August, suggesting a modest pick-up in buyers after the traditional summer slowdown. According to the latest Bank of England (BoE) statistics out today, mortgage approvals climbed to 66,440 last month, marking the highest level since January 2018. However, housing experts remained cautious on the [...]
UK mortgage approvals for new house purchases tumble despite growth in remortgaging September 26, 2018 The number of mortgages approved for house purchases was almost five per cent lower in August compared with the same time last year, providing fresh evidence of flat activity in London’s property market. Despite the fall in new mortgage approvals, remortgaging soared 9.2 per cent during the month, as a rising number of homeowners [...]
New mortgages hit 10-year high as lending activity grows September 11, 2018 Mortgage lending picked up in the second quarter of the year, with new commitments hitting their highest level in more than a decade amid a bump in the number of first-time buyers coming onto the property market. Read more: London house prices set to hit lowest growth levels since financial crash The value of new [...]