Posts Tagged ‘interest rates’
Significant rise in Mortgage approvals in January
According to a news release out yesterday from the BBA, it mentions a significant rise in mortgage borrowing at the start of this year, the BBA is the UK’s leading association for the banking sector. The figures in the release showed. The number of mortgage approvals in January was 33% higher than a year ago,…
Read MoreNumbers of young tenants at a high
The continued rise in the cost of buying a home is pushing more and more young people to the Private Rented Sector (PRS) than ever before, according to newly published official figures. The Office for National Statistics (ONS) in its latest report on the housing sector states that only 9% of people aged between 20…
Read MoreRepossessions fell in 2015
Figures from mortgage lenders show that the number of homes repossessed fell to an 11 year low in 2015. Across the UK 10,200 repossessions were recorded in 2015, almost half the 20,900 cases recorded in 2014, that is according to the Council of Mortgage Lenders (CML). They reportedly pointed out that a court case which…
Read MoreInterest rates remain on hold
The Bank of England votes once again to keep interest rates on hold at 0.5%, yesterday policymakers voted unanimously to hold borrowing costs this month and they gave little indication that there would be an increase any time in the near future. The possibility of any UK interest rate rise receded further after the Bank…
Read MoreInterest rates to continue at low levels
Last month Mark Carney, Governor of the Bank of England said the global financial backdrop was ‘unforgiving’ as he insisted that ‘now is not yet the time’ to raise interest rates in the UK. As it publishes new economic forecasts with concern growing about a new global slowdown and an unsettling referendum on Britain’s place…
Read MoreInterest rates to remain low
Governor of The bank of England Mark Carney has made assurances that now is not the time to be raising interest rates, saying that rates are unlikely to increase from their record low any time soon. This news comes on the back of falling oil prices and the news yesterday that China’s economic growth is…
Read MoreConfidence high amongst home-owners says Rightmove
Research from Rightmove shows home-owners are in a confident mood and largely unfazed by the risk of higher interest rates in 2016, sellers who come to market in the run-up to Christmas typically set lower asking prices as buyers are harder to attract at this time of year. Rightmove noted this November’s price-dip of 1.3%…
Read MoreBank of England keeps Bank Rate at 0.5%
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy in order to meet the 2% inflation target and in a way that helps to sustain growth and employment. At its meeting ending on 4 November 2015, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%, Yesterday the Bank’s…
Read MorePredicted house price rises over next 5 years
According to a report out last week in one of the main stream newspapers the average house price in the UK will rise by 25% over the next five years to more than £320,000, this is a revised prediction by the Centre for Economics and Business Research, one of the country’s most respected forecasters. This…
Read MoreDecline in mortgage approvals for September
Official figures released yesterday show mortgage approvals declined for the first time in four months in September. According to data published by the Bank of England, mortgage approvals for house purchases declined from 70,664 to 68,874 last month, compared with analysts’ expectations for a 72,500 reading. Overall lending rose at its fastest rate since December…
Read MoreEffect of buy-to-let on UK financial stability
According to the Bank of England in a recent report by their financial policy committee, the UK’s buy-to-let market is posing a threat to the country’s financial stability. Any wobbles in the housing market could be exagerated due to the nature of that market, the effects of a housing crash could be made much worse.…
Read MoreInterest rate warning from Mark Carney
The Governor of the Bank of England Mark Carney has put out a warning that interest rates may rise soon, saying that they could rise within the next couple of months. Interest rates have remained at a record low of 0.5% since March 2009. Has the period of ultra low mortgages come to an end?…
Read MoreNew property hot spots around London
House price affordability in London is putting pressure on buyers to look to the commuter belt to find a home within their price range, latest data from the Land Regsitry shows annual growth of just more than 9%, making the average London house worth £475,961, in the South-East, annual price rises are also just over…
Read MoreInterest rates and Halifax report
UK interest rates have been held at 0.5% again by the Bank of England. The Bank also kept the size of its bond-buying stimulus programme unchanged at £375bn. The decision by the Bank’s Monetary Policy Committee (MPC) comes more than six years after the record low was introduced. The number of properties on the market…
Read MoreShambles of a debate
Last night we had another of those TV debates, both party Leaders who are presently in Government were not involved, by the way that had been pre-agreed sometime prior. Well what I saw was no more than a work place row, the three ladies were almost in agreement with each other most of the time…
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