Mortgage approvals have hit an eight-month low, impacted significantly by rising interest rates affecting potential buyers.
HSBC’s pre-tax profits ballooned to $7.7bn for the three months to the end of September
Banking behemoth HSBC has disclosed a substantial profit increase of $4.5bn (£3.7bn) for the latest quarter, attributing the growth to the beneficial impact of rising interest rates.
UK House prices will keep falling until after general election
Lloyds Bank predicts a continuous decline in house prices extending past the upcoming general election, attributing this trend to prolonged higher interest rates.
UK House prices fall for fifth month in a row
House prices have seen a decline for the fifth straight month, attributed largely to the increase in borrowing expenses.
Housebuilders tumble on FTSE 100, mortgage rates fall below 6pc for the first time since July
The FTSE 100 experienced a decline as investor outlook was negatively influenced by the anticipation of prolonged higher interest rates.
Nationwide Building society launches 8pc regular savings account
The UK’s leading building society, Nationwide, has introduced an 8% regular savings offer – the highest available rate in ten years.
UK mortgage war ‘under way’ as lender offers a fixed-rate mortgage priced at below 5%
For the first time since June, a fixed-rate mortgage priced under 5% has been introduced, following major lenders unveiling a series of home loan rate cuts.
House prices experience the largest decline since 2009, says Nationwide
Last month witnessed a sharper decline in house prices, marking the market’s most sluggish state since 2009 due to a significant drop in mortgage approvals.
HSBC has launched 40-year mortgage options, while Coventry Building Society reduces its rates.
HSBC is set to introduce a 40-year mortgage option for homebuyers, marking its first foray into offering home loans for such an extended duration.
UK House prices suffer steepest decline in 12 years
Residential property values have experienced their most significant yearly drop in 12 years, due to a mortgage crisis that’s deterring potential buyers.
A substantial increase in mortgage expenses is set to cause a notable slowdown in the housing market.
Nationwide has issued a warning that a considerable rise in mortgage costs could cause a “significant slowdown” in the housing market as increasing rates put pressure on borrowers.
Economists warn that Bank of England’s actions may lead to a recession in the UK this year
Economists warn that the Bank of England’s aggressive fight against the highest inflation among G7 economies may plunge the UK into a recession by year-end.