Phoebus Software News Today

Private equity firm, NorthEdge, has announced the appointment of a new partner, promoting Andy Skinner, as it looks to continue driving growth across the

The financial services sector has collectively welcomed the news that inflation has fallen to 3.9%, describing it as a "shot in the arm for the UK economy". However, the larger-than-expected drop has also raised questions over how sustainable the state pensions ‘triple lock’ is in the long term. The triple-lock

The latest Bank of England Money and Credit statistics released today show net mortgage approvals for house purchases fell from 49,500 in July to 45,400 in August, the lowest level in six months. Net approvals for remortgaging dropped from 39,300 to 25,000 during the same period, the lowest since July 2012. The

The UK’s annual inflation rate fell unexpectedly in August to 6.7%, easing some of the pressure on the Bank of England to increase interest rates. According to the latest figures from the Office for National Statistics slower increases in the cost of food helped the annual inflation rate (as measured by the consumer

The industry has warned there is still a rocky road ahead despite UK inflation falling from 7.9% to 6.8%, its lowest level since February 2022. The latest Consumer Price Index (CPI) figures, released by the Office for National Statistics (ONS) today, have given some cause for optimism. However, it is still

UK Finance’s latest arrears and possessions data for second quarter 2023 reveals there were 81,900 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the second quarter of 2023. This represents a 7% increase on the previous quarter. Within the total, there were 30,940 homeowner mortgages in

UK Finance’s latest arrears and possessions data for second quarter 2023 reveals there were 81,900 homeowner mortgages in arrears of 2.5% or more of the ou

The Bank of England’s Monetary Policy Committee (MPC) has voted through its fourteenth consecutive base rate rise today. By increasing the base rate by 0.25% to 5.25% the MPC has taken the cost of borrowing to its highest rate since the financial crisis in 2008. Most analysts predicted a 0.25% rise (rather than 0.5%)

The number of non-seasonally adjusted residential property transactions in June stood at 94,690 according to the latest HMRC data, 9% lower than the same month last year. While the annual number was a drop on last year, the figure equates to 28% higher than May this year. On a seasonally adjusted basis, the figure of

Over the past month or so, headlines in Mortgage Strategy have included: ‘Average house prices fall for fifth consecutive month’; ‘Housebuilders warn of continued slowdown’; and, ‘It will take 13 years for first-time buyers to save enough to get on the housing ladder’. With the bad news heavily outweighing any good,