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Tuesday 23rd of June 2009

News Tag: down

May 21, 2009

Gross mortgage lending 60% down

by Gill Montia
Gross mortgage lending 60% down
Gross mortgage lending declined to an estimated £10.4 billion in April, the Council of Mortgage Lenders (CML) has reported. The total fell 9%, from £11.4 billion, in March and is 60% below the £26.1 billion figure for April 2008. The body points out that seasonal factors have to be taken into account as Easter fell in April in 2009 and in March in ...



February 26, 2009

Nationwide house price index down an annual 17.6%

by Gill Montia
Nationwide house price index down an annual 17.6%
Nationwide has reported a 1.8% fall in UK house prices, in February. The lender's monthly index puts the average cost of home at £147,746, or 17.6% less than a year ago (£179,358). The building society's chief economist, Fionnuala Earley, suggests that a combination of falling prices and interest rates could mean that when confidence returns to the market, sales will ...



February 12, 2009

New home loans down 49% on the year

by Gill Montia
New home loans down 49% on the year
The Council of Mortgage Lenders (CML) has reported that the number of mortgages for house purchases fell 49% in 2008. Just 516,000 such loans were agreed during the year, representing the lowest level of activity since 1974. In December, house purchase loans slid to 32,000 down 5% on November to the lowest level since monthly records began in 2002. During the ...



October 30, 2008

House prices down almost 15%

by Gill Montia
House prices down almost 15%
Nationwide has published its latest house price survey showing the cost of the average UK home falling again, in October, to £158,872. The monthly loss stood at 1.4%, taking the annual decline to 14.6%, or £27,172, in terms of the average house price. The figures compare with a September monthly fall of 1.7% and an annual fall of 12.4%, according to Nationwide. House prices ...



October 9, 2008

US shoppers continue to tighten purse strings

by Kay Murchie
”US
US shoppers tightened their belts even further in September after retail sales for the month were down. Even discount stores including Wal-Mart, the world’s largest retailer, and wholesale club operator Costco, both reported strong sales, but failed to meet Wall Street estimates. Wal-Mart reported a 2.4% gain in like-for-like sales, which was slightly under analysts forecasts of 2.5%. Sales at Costco ...



October 6, 2008

FTSE plummets amid another eventful weekend

by Kay Murchie
”FTSE
It has been yet another weekend full of news in the banking sector which has sent shares in London and Europe crashing. Meltdown Monday saw the FTSE 100 index down by over 6% by mid-morning to 4675 - a fall of 304.6 points. Banks including HBOS fell 32p, while Royal Bank of Scotland lost 26p. Across the Atlantic, the US $700 billion ...



September 24, 2008

High Street sales take another battering

by Kay Murchie
”High
The CBI’s latest survey of retailers has revealed another poor month after retail sales fell for the sixth consecutive month in September. However, the figures revealed that supermarkets bucked the trend, continuing to experience steady growth. The CBI discovered that approximately one-fifth of retailers experienced rising sales this month while 48% said they were down compared with last year. The balance of -27% ...



August 20, 2008

July mortgage lending 27% down year-on-year

by Gill Montia
July mortgage lending 27% down year-on-year
The Council of Mortgage Lenders (CML) has published data for July and is describing gross mortgage lending for the month as "subdued". The Council's members, which provide around 98% of all residential mortgage lending in the UK, collectively lent £24.8 billion. The figure represents a 27% decline on July 2007 but is 5.0% up on the level for June 2008, when lending decreased ...



August 12, 2008

BRC: UK retail sales down 0.9% on year

by Kay Murchie
”BRC:
Figures from the British Retail Consortium (BRC) have revealed that consumers continue to rein in their spending, after it revealed that like-for-like retail sales fell 0.9% compared with July 2007. However, sales of food and drink were up, but against weak sales compared with a year earlier. The BRC described it as ‘frivolous shopping off the agenda’ after heavy ...



July 7, 2008

Nationwide and Abbey reduce mortgage rates

by Gill Montia
Nationwide and Abbey reduce mortgage rates
Nationwide Building Society is reducing interest rates on some of its fixed-rate and tracker mortgages this week, with rates on its fixed loans for house buyers falling up to 0.07%. A two-year fix is available from 6.58% with a £599 fee or 6.98% with no fee, while rates on the lender's newly-launched two-year tracker start at 5.98% with a £599 fee, or ...