New data from the Bank of England show the number of loans approved for house purchases falling in August, marking the fourth consecutive monthly drop. Mortgages were secured by 47,372 homemovers and first-time buyers, down from 48,346 in July and below the previous six-month average of 48,619, although it should be noted that August is [...]
New figures from the Bank of England show the number of mortgages approved for house purchases rising in March, to 48,901, after falls in the previous three months. The total was up 17% on a year earlier, but somewhat short of the previous six-month average of 54,201. Remortgaging activity also increased, with March’s 27,880 approvals [...]
Britain’s High Street banks approved more new mortgages and loans for house purchases in October, with the figure nudging up from 42,073 in September, to 42,238 According to the British Bankers’ Association (BBA), the improvement reflects continued growth from the low levels seen at the end of last year. BBA statistics director, David Dooks, says [...]
The number of mortgages approved for house purchases by the UK’s leading banks rose again in September. Figures from the British Bankers’ Association (BBA) show 42,100 home loans sanctioned for house purchases, up from 40,100 in August and a 77% improvement on a year ago. Other mortgage approvals “remained subdued” last month and the Association [...]
New figures from the Bank of England show the number of mortgages approved for house purchases increasing to 47,584 in June, up from 44,169 in May and reaching their highest level since April 2008. However, over the six months to the end of June, new home loan approvals were down 36% on the same period [...]
Latest figures from the British Bankers’ Association show a “modest” increase in net mortgage lending. UK banks lent a net £2.6 billion in June, compared with £2.4 billion in May and a previous six month average of £3.1 billion. In terms of volumes, last month saw 35,235 loans approved for house purchases, up from 31,919 [...]
The Council of Mortgage Lenders (CML) has reported a 4% rise in mortgage approvals for house purchases in February. During the month 24,300 loans were sanctioned worth a combined £3.1 billion. The figure compares with 23,400 loans in January worth £3.1 billion but is around one-third of the average February total of 76,000 between 2002 [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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