News Tag: Halifax
March 4, 2010
The Bank of England’s Monetary Policy Committee (MPC) has today elected to keep UK interest rates on hold at the historically low level of 0.5% for the 12th consecutive month.
In addition, it has opted not to inject any more funds into the economy via its quantitative easing (QE) scheme - introduced to stimulate growth within the economy.
Last month, ...
BoE keeps interest rates and QE on hold
by Kay Murchie
House prices down 1.5% in February
by Gill Montia
February 23, 2010
The fixed-rate mortgage has just passed its 21st birthday, having been launched by Halifax in 1988 at an astonishing rate of 12.75%.
However, the lender is celebrating the enduring appeal of this type of home loan with the following facts and figures:
By 2009, 68% of new mortgage lending took the form of fixed-rate deals, according to Council of Mortgage Lenders' data.
There are ...
Fixed-rate mortgage comes of age
by Gill Montia
February 17, 2010
Research by the Halifax has revealed the growing popularity of Individual Savings Accounts (ISAs).
The Halifax, which is now part of the Lloyds Banking Group, said the number of accounts opened in the nine years to March 2009 surged by 53%.
At the start of the millennium, there were 9,000 subscribed ISA accounts, but this grew to more than 14,000 in 2009.
In ...
ISAs continue to grow in popularity
by Kay Murchie
February 4, 2010
Halifax has announced a 0.6% rise in UK house prices in January, compared to a month earlier.
The seventh successive monthly increase was more modest than the 1.1% average for the previous six months but nonetheless takes the price of a typical home to £169,777, or 3.6% more than at the start of 2009.
The annual rate of change (which is ...
House prices up 3.6% on January 2009
by Gill Montia
January 20, 2010
Halifax has been looking back over the past 50 years to find that the average cost of a UK home has increased by 237% (in real terms) since 1959.
The typical yearly rate of return of 2.7% exceeded the average rise in real earnings over the period, although house prices recorded their biggest increase in the 2000s when they put ...
House prices rise 237% (over half a century)
by Gill Montia
January 7, 2010
In its latest survey of the UK housing market, Halifax reports that in December house prices increased for the sixth consecutive month.
The rise took the value of a typical home to £169,042, up 9.4% (£14,552) on the low of April 2009, and 1.1% higher on an annual basis.
Taking the three-month-on-three-month measure, prices rose for the second successive quarter; ...
House prices gain 9.4% on April 2009 low
by Gill Montia
January 6, 2010
Banks are increasingly tempting their current account holders with mortgage offers, as they seek to become "one-stop shops" in financial services.
Research from financial products analyst, Defaqto, suggests the number of mortgage offers available exclusively to current account customers is on the rise.
According to the firm, Abbey offers free valuations and cash back on certain mortgages to their Abbey or ...
Lenders woo current account holders with mortgage offers
by Gill Montia
January 3, 2010
Potential first-time buyers on average earnings can now afford to buy a home in nearly four out of 10 regions of the UK, the Halifax has reported.
According to the lender's research, 39% of the UK's local authority districts are accessible to those wanting to buy their first property, compared to 6% when the housing market peaked in 2007.
Halifax housing economist, ...
First-time buyer affordability best in 25 years
by Gill Montia
December 29, 2009
Halifax has identified the most expensive addresses in England and Wales, with Wycombe Square in the Royal Borough of Kensington and Chelsea topping the league at an average property price of £5,401,447.
According to the lender's research, the Royal Borough provides half of the 20 most expensive residential streets in the survey, while Greater London lays claim to the top ten.
Outside the ...
Halifax reveals most expensive addresses
by Gill Montia
December 14, 2009
New research from Halifax has revealed that the Nation's children are receiving an average £6.24 a week in pocket money.
In 2009, pocket money support for offspring aged between eight and 15 has increased by 11p on a year earlier, despite the recession.
However, the average is significantly down on the £8.37 a week handed out to youngsters in 2005.
Currently, 12 to ...
Pocket money rises by 11p a week
by Gill Montia
December 8, 2009
UK house prices rose by 1.4% in November compared to a month earlier, according to Halifax.
The average cost of a home came in at £167,664, up 4.2% in the first 11 months of 2009.
The fifth consecutive monthly increase also eased the annual decline to 1.6%; a significant improvement on April's low of minus 17.7%.
Furthermore, prices over the period September to November ...
Halifax reports 1.4% house price rise
by Gill Montia
November 3, 2009
According to the Halifax, house prices rose 1.2% in October which is the fourth consecutive month that prices have gained.
The lender said house prices are 4.7% lower when compared with October last year and the average price of a house is now £165,528.
In comparison, last week, the Nationwide said house prices were up by 0.4% in October and ...
Halifax reports 1.2% rise in house prices in October
by Kay Murchie
October 16, 2009
More than 400 jobs could be lost after Lloyds Banking Group has agreed to sell its Halifax estate agency business to LSL Property Services for £1.
It is expected that the sale will result in the closure of 121 Halifax banking counters located in estate agents.
More than 1,000 employees will be transferred to LSL after completion of the ...
Lloyds Banking Group agrees sale of Halifax estate agency
by Kay Murchie
October 6, 2009
The latest property index from Halifax shows UK house prices increasing by 1.6% in September, easing the annual rate of fall to 7.4%.
Last month, the typical UK home cost £163,533, a figure similar to that recorded in mid-2005.
The lender says the value of the average property rose for the third consecutive month and for the fifth month so far this year, ...
House prices put on 1.6%
by Gill Montia
September 10, 2009
The Halifax house price index shows the value of the average UK home increasing by 0.8% in August compared with July, to £160,973.
According to the lender, prices have now improved for the second consecutive month and for four of the first eight months of 2009.
The change eases the annual rate of decline to 10.1% over the three months to August.
Taking another three-month-on-three-month measure, ...
House prices up 0.8%
by Gill Montia
September 6, 2009
Four in five Brits are putting money aside for a holiday despite the recession, research by Halifax discovered.
The poll found 84% of UK adults are maintaining a holiday savings habit, almost double the 44% who said they were saving towards holidays in pre-recession studies.
Nearly three quarters (72%) of Brits said they'd funded or part-funded their holiday this year from savings, compared to 27% who paid for ...
Crunch fails to dent holiday funds
by David Masters
August 31, 2009
Lloyds Banking Group is considering more job losses as the bank plans to close more than 300 “agency” counters run by its Halifax subsidiary in the offices of estate agents, solicitors or financial advisers.
Agency counters are not Halifax branches and their staff are employed by the agent as part of their wider business and the closures are part of the process ...
Lloyds considering Halifax agency counter closures
by Kay Murchie
August 20, 2009
The cost of living for students has increased 5% in the past 12 months to nearly £200 per week, according to research by Halifax.
A poll by the financial provider found the average student now spends £193.50 per week during term time on food, accommodation, socialising, alcohol, clothes, and books.
The increase, up from £183.80 per week in 2008, comes despite students ...
Student living costs almost £200 per week
by David Masters
August 14, 2009
The Nationwide Building Society has saved more than a dozen families in a block of condemned flats in Dodgeholme Court, Mixenden, Halifax.
The families were forced out of their homes as the block was condemned after fire officers were called in to inspect the building and told tenants they had to leave.
However, the Nationwide has told the Courier that it ...
Nationwide Building Society rescues block of condemned flats
by Kay Murchie
