House prices fell 1.1 per cent in February according to The Halifax, contradicting earlier figures from Nationwide suggesting that property prices have increased. According to the Halifax’s three monthly index, house prices were 1.1 per cent lower in February than in the previous three months. The mortgage lender’s annual index showed that property prices fell [...]
The Government launches its NewBuy mortgage guarantee scheme in March, which will help house buyers by underwriting 95% mortgages on new-build properties up to £500,000 in value. The scheme depends on having sufficient sites available to house builders and housing minister Grant Shapps revealed today that sufficient land for 80,000 properties has already been identified. [...]
The latest house price figures from Nationwide Building Society contradict yesterday’s news from the Land Registry that house prices have fallen over the past year. Nationwide today said that house prices are ‘surprisingly resilient’ with November’s figures showing a year-on-year increase of 1.6%. In contrast the latest Land Registry figures showed a 3.2 per cent [...]
Despite the slump in the housing market, Nationwide Building Society’s gross mortgage lending increased by 48% to £8.9 billion in the six months to September. Although the number of first-time buyers in the market continued to fall, Nationwide lent more than £1.2 billion to this group in the first half of the year, 3 per [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of September. The building society’s consumer confidence index fell for the fourth consecutive month, falling by 3 points to 45 in September – hovering dangerously close to the all-time low of 41. Furthermore, it is 10 [...]
The latest house price index from the Nationwide Building Society has revealed prices rose by just 0.1% in September on a monthly basis. On an annual basis, house prices are now 0.3% lower than this time last year with the average UK home costing £166,256. Meanwhile, when comparing prices in the three months to the [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of June. The building society’s consumer confidence index lost 4 points to 51 last month, which reverses some of the 11 point rise seen in May, which represented one of the largest gains on record. The [...]
The latest survey from the Nationwide Building Society has revealed a surge in UK consumer confidence for the month of May. The building society’s consumer confidence index rose 11 points to 55 last month – the biggest monthly increase in 5½ years, and takes the index to a five-month high. However, the index is still [...]
Britain’s largest building society, Nationwide, has today posted a surge in underlying pre-tax profits. Nationwide said pre-tax profits fell 7% to £317 million – primarily due to accounting changes. However, underlying profits surged 30% to £276 million in the year to 4 April. Meanwhile, the amount written off for bad loans to customers dropped by [...]
The latest survey from the Nationwide Building Society has revealed a severe decline in UK consumer confidence for the month of February. The building society’s consumer confidence index plunged to 38 in February - a fall of 10 points and the lowest level since records began in May 2004. The latest fall means confidence is [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of January after rising in December. The building society’s consumer confidence index plunged to 47 in January from 54 the previous month - just 6 points above the record low of 41 and way below its [...]
The latest survey from the Nationwide Building Society has revealed a fall in UK consumer confidence for the month of November. The building society’s consumer confidence index plunged 7 points to 45 in November - this represents the lowest reading since March 2009 - when the UK was in the midst of recession. According to [...]
The latest survey from the Nationwide Building Society has revealed a further fall in UK consumer confidence for the month of June. The building society’s consumer confidence index plunged from 66 in May to 63 in June - the lowest level for a year, due to ongoing economic uncertainty. However, the Nationwide highlights that the [...]
The latest survey from the Nationwide Building Society has revealed a sharp fall in UK consumer confidence for the month of May. The building society’s consumer confidence index plunged to 65 last month – the lowest level since June 2009, down from a revised reading of 75 in April. According to the Nationwide, its survey [...]
From today, the Nationwide Building Society will attempt to reduce its queues by making customers with cash cards withdrawing less than £100 to use the branch cash machine. The Nationwide said the change, which was announced in April, is essential and the move is aimed at speeding up transactions and freeing up staff time to [...]
From 1 July, Alliance & Leicester (A&L) will attempt to reduce its queues by making customers with cash cards withdrawing less than £300 to use the branch cash machine. The bank, which is to be renamed Santander later this year, said the change will bring the bank brand in line with other banks in the [...]
Nationwide Building Society has today announced a fall in annual profits. The UK’s largest building society said underlying pre-tax profits fell to £212 million for the year to 4 April, compared with £393 million in the same period a year earlier. The company said it expects the “lower levels of profitability” experienced in the last [...]
The latest survey from the Nationwide Building Society has revealed a sharp fall in UK consumer confidence for the month of March. The building society’s consumer confidence index plunged to 72 last month – the lowest level since December and down from a two-year high of 81 reported in February. According to the Nationwide, its [...]
From 7 June, Nationwide Building Society will attempt to reduce its queues by making customers with cash cards withdrawing less than £100 to use the branch cash machine. The Nationwide said the change is essential and the move is aimed at speeding up transactions and freeing up staff time to deal with other transactions. The [...]
The latest survey from the Nationwide Building Society has revealed a rise in UK consumer confidence for the month of February. The building society’s consumer confidence index surged to 80 last month - the highest level since January 2008 and double the reading seen last February. According to the Nationwide, its survey reflects the fact [...]
Mortgage approvals fell unexpectedly in March
Economists had expected mortgage approvals to increase to 34,000 in March but instead the latest figures from the British Bankers Association show they actually fell, to 31,888. This was significantly lower than 32,840 in February and the 25-month high in January, when 38,233 mortgages were approved. The slump in March represents an 11-month low and [...]
The number of houses sold in the £1 million to £2 million price bracket fell by 5% to 6,911 in 2011 according to a report from Lloyds TSB based on figures from the Land Registry. The figures represent the first annual fall in million-pound sales since 2009. In contrast, sales of homes priced above £2 [...]
The cost of car insurance is starting to fall according to the AA’s British Insurance Premium Index. The average ‘shoparound’ quote for comprehensive car insurance fell by 1.1 per cent to £1,132 by the end of March. The Shoparound premium is an average of the five cheapest premiums quoted by around 50 insurance providers. Over [...]
Mobile operator O2 has become the latest entrant in the mobile payments market with the launch of a new app. The O2 Wallet app, which allows users to transfer up to £500 via text message, follows the launch of a similar service, Pingit, by Barclays. Barclays’ free ‘Pingit’ app allows the bank’s UK current account [...]
36 credit card fraud sites closed down
A global police operation involving the UK’s Serious Organised Crime Agency (Soca) has closed down 36 websites selling credit card details following an investigation which spanned two years. Raids in the US, Britain, Germany, the Netherlands, Ukraine, Romania and Macedonia led to the sites being closed, many of them after being monitored for months. The [...]
Provisional figures from the Office for National Statistics (ONS) show that the UK economy has contracted for two consecutive quarters, which means it has fallen back into recession. The economy shrank by 0.3% in the fourth quarter of 2011 and the latest figures show a contraction of 0.2% in the first three months of 2012 [...]
Over-50s face 11-year retirement delay
People over the age of 50 will need to work for a further 11 years after they reach state pension age according to a new report. The Pensions Policy Institute claims that those who are unable to carry on working will struggle to maintain their standard of living. The report suggests that a single person [...]
Household finances continue to deteriorate
Lower earnings, increased levels of debt and inflation worries took their toll on household finances in April, with the Markit Household Finance Index falling for the second month in a row. The Index fell at the steepest rate for three months to 37.0 in April from 37.8 in March, with a score under 50 indicating [...]
ISA savings rise while pension contributions fall
While Individual Savings Accounts (ISAs) are growing in popularity, pension contributions continue to decline, prompting the Institute of Directors (IoD)to call for the government to take action on savings. According to data compiled by the IoD in association with Lucida, the amount paid into ISAs increased from £35.7 billion in 2007, to £43.9 billion in [...]
Mothers accumulate debt on maternity leave
Three quarters of mums are unprepared for a fall in income while they are on maternity leave and nearly a third go into debt. A study by price comparison site uSwitch.com suggests that the average debt accumulated by mothers while they are on maternity leave is nearly £2,500. As well as facing a 50 per [...]
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