July 2012 Archive

UK mortgage approvals drop to lowest level for 18 months

Mortgage lending fell in June, according to the Bank of England

The Bank of England has published data that reveals lending to individuals rose by just £0.3 billion in June 2012 and mortgage lending has fallen to its lowest level since December 2010.

Serious Fraud Office confirms Libor traders could go to prison

The Serious Fraud Office has confirmed that laws exist to prosecute Libor traders

The Serious Fraud Office has confirmed that existing criminal laws exist that can be applied to rogue Libor traders that could result in criminal sanctions or prison.

NatWest launches cheapest ever five-year fixed rate mortgage

NatWest has unveiled a five-year fixed rate mortgage at 2.95%

NatWest has unveiled the cheapest ever five-year fixed rate mortgage charging 2.95 per cent for homeowners with a 60% loan-to-value ratio but it does come with a fee of £2,495.

Hometrack report summer property market slowdown accelerated

House prices fell by 0.1 per cent in July, according to Hometrack

A new survey from Hometrack shows the first monthly fall in house prices for seven months and that demand in London and the south-east has begun to slow.

Halifax Intermediaries cut rates across entire mortgage range

Halifax Intermediaries has announced rate cuts across its range of mortgages

Halifax Intermediaries have announced cuts to rates across its entire range of mortgages for homeowners with different levels of equity.

First Direct cuts rates on all standard and fee-free mortgages

First Direct has announced cuts to rates on their mortgages

First Direct has announced that it is to cut interest rates on its entire range of commercial and fee free mortgages.

Mortgage repayments fall to just 15.3% of net income

Research from Barclays shows mortgage repayments have fallen since 2008

New research from Barclays reveals that homeowners paid just 15.3 per cent of net income on mortgage repayments in April 2012, compared to 20.5% in 2008.

GDP down 0.7 per cent as UK economy slips deeper into recession

Official data shows the UK economy shrank by 0.7% in the 2nd quarter of 2012

Could things get any worse for the economy? Today's first estimate of GDP from the Office for National Statistics shows a 0.7% fall in output meaning the answer is a resounding yes.

Barclays cuts lending rates and launches zero fee mortgage

Barclays trims range of fixed mortgage rates

Barclays has today cut the interest rates on a selection of fixed rate mortgages and introduced a new home loan deal with no application fee.

Mortgage approvals sink to 41 month low in June

Latest figures reveal drop in mortgage approvals

Mortgage approvals slumped last month to their lowest level since January 2009, hampered by dismal weather and the Diamond Jubilee holiday, the BBA said today.

Santander follows HSBC with 5-year fixed rate mortgage at 2.99%

Santander has launched a five-year fixed rate mortgage at just 2.99% for existing qualifying customers

Santander has followed HSBC in announcing a five-year fixed rate mortgage at just 2.99 per cent for existing banking customers who have a 40 per cent deposit.

Mortgage lending fell in June, says CML

Gross mortgage lending fell in June, according to the CML

The Council of Mortgage Lenders reports that gross mortgage lending fell by 4.6 per cent in June to reach £11.9 billion, but is still 7% higher in 2012 than in the first six months of 2011.

Leeds BS unveils two year tracker mortgage

New tracker mortgage launched at the Leeds

Leeds Building Society has launched a two year base rate tracker mortgage available up to 75 per cent loan to value (LTV).

ONS: UK house price index shows 2.3% rise in last 12 months

The ONS reports a 2.3 per cent increase in UK house prices over the past 12 months

The Office for National Statistics has published its latest house price index for May 2012 showing a 2.3 per cent year-on-year increase in the UK.

Rightmove: Home sellers slash asking prices by £4,000 in July

Some sellers 'over-optimistic' about house prices

House sellers desperate to shift their properties cut asking prices this month by 1.7 per cent, or £4,138 – the largest price drop in July for four years.

HSBC launches 5-year fixed rate mortgage at 2.99%

HSBC has launched a five-year fixed rate mortgage charging just 2.99%

HSBC has announced the launch of a five-year fixed rate mortgage at 2.99 per cent allowing homeowners to combine the security of knowing what their repayments will be with a low rate.

Mortgage lending up after end of stamp duty concession slump

The CML reports a pick up in the mortgage market in May

The Council of Mortgage Lenders says that mortgage lending increased in May as the impact of the end of the stamp duty holiday at the end of March faded.

Rics surveyors report fall in sales and house prices in June

Rics reports a fall in supply and demand of properties

Members of the Royal Institute of Chartered Surveyors report that new buyer enquiries, completed sales and house prices all fell in June as the property market shows no sign of improving.

Properties in 'new towns' more affordable since 2007

Homes in new towns have become more affordable since 2007

Research from Lloyds TSB shows that properties in 'new towns have become more affordable since the doqnturn in the property market in 2007 as earnings have increased faster than house prices.

Bank of England pulls trigger on £50b extra QE

The Bank of England is expected to vote for more QE tomorrow

The Bank of England has announced that it will add a further £50 billion to its quantitative easing programme at the conclusion of the meeting of the Monetary Policy Committee.

Halifax reports surprise 1% increase in house prices in June

Halifax reports that the average UK house was valued at £162,417 in June 2012

The latest Halifax house price index shows a one per cent increase in house prices in June, meaning the average house in the UK is now valued at £162,417.

Brits repay £122b more on homes than borrowed since 2008

Fewer people are drawing equity from their homes

Housing equity withdrawal fell in the first quarter of 2012, latest figures show, meaning fewer people borrowed against their homes for other major purchases.

Number of tenants in severe rent arrears soars by 24%

More than 100,000 tenants across England and Wales are now in severe rent arrears up 24 per cent from a year ago, research shows.

Chelsea’s 5,6,7 mortgage offers long term fixed rate options

5,6,7 mortgage offers a longer term fixed rate

Demand for longer term fixed rate mortgages has been growing as the cost of living squeezes households’ wallets, according to the Chelsea Building Society.

Construction PMI falls at fastest rate for over three years

Activity in the construction sector fell at its fastest monthly rate since early 2009 fuelling concerns that the economy will move deeper into recession in the second quarter of 2012.

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