Page 3 - Phoebus Software News Today

The number of residential transactions in the UK during December 2022 was 1% lower than a year previous, totalling 108,960, says HMRC. Compared to the month before, November 2022, this non-seasonally adjusted number ran 3% lower. Meanwhile, non-residential transactions, also counted on a non-seasonally adjusted

The number of mortgage approvals for house purchases in November 2022 came to 46,075, shows the latest ‘Bankstats’ data from the Bank of England (BoE). This is the lowest number seen since June 2020, when there were 40,530, and compares to 68,969 approvals made a year previously, in November 2021. “A third

The third quarter of this year saw 1% fewer homeowner mortgages in arrears than in Q2, show new figures from UK Finance. In total, there were 74,440 homeowner mortgages in arrears of 2.5% or more at last count. And of these, 28,910 were in ‘significant’ arrears – defined as being 10% or more of the outstanding

SPF Private Clients chief executive Mark Harris says the Bank of England (BoE)’s base rate increase today could have been worse than 75 basis points if the “Liz Truss government prevailed”. At midday, the BoE revealed it was increasing the interest rate to 3%, which marks the biggest since 1989 and the eighth time

The number of lending approvals for house purchases fell from by 7,633 to 66,789 in September, new figures from the Bank of England (BoE) show. Consequently, the value of purchase approvals fell during the same monthly period, from £17.6bn to £15.9bn. The previous six-month average for this metric is £15.8bn. On the

Chancellor Kwasi Kwarteng has announced a flurry of new stamp duty thresholds on a permanent basis. Alongside this, stamp duty will be eradicated for purchases of land and buildings for commercial or new residential development. These announcements come as part of the new government’s mini-budget, in which a host of

The number of residential transactions in August grew 9.7% on an annual basis, government data shows. In total, on a non-seasonally adjusted basis, there were 114,440 transactions counted, which as well as being significantly more compared to last year, is a 4.4% jump on July 2022. The data also counts 9,930

The economy slowed in June as inflation and an uncertain outlook fuel recession fears. The Office for National Statistics (ONS) released its monthly estimate of GDP growth today (12 August). It shows the economy contracted by 0.6% in June with services being the main driver in the drop as they fell by 0.5% over the

The total number of customers in arrears with their mortgages totalled 74,540 at the end of June, according to the latest data from UK Finance. The data found that the number of homeowner mortgages in arrears continues to fall, with a reduction of approximately 200 compared to the previous quarter and 10% fewer than

Net mortgage borrowing rose from £4.2bn to £7.4bn on a monthly basis in May, shows new data from the Bank of England (BoE). This, says the BoE, puts the borrowing figure above the pre-pandemic average of £4.3bn in the 12 months to February 2020. Meanwhile, gross lending rose from £21.6bn to £21.8bn from April to May.