Page 5 - Phoebus Software News Today

The Bank of England (BoE) holding the base rate at 0.10% today has elicited a frenzy of commentary from market watchers – indeed, it came as something as a surprise. The majority of commentators so far agree the decision is a good thing for the mortgage industry. “Despite growing pressures to tackle rising inflation,

Some of the nation’s biggest lenders have raised their mortgage rates in the past couple of weeks, and according to many in the industry, more could be coming soon. The Bank of England (BoE) has made no secret that it is weighing up a base rate rise early next year and, coupled with chancellor Rishi Sunak referring

Resi transactions in September stood at 160,950, 68.4% higher than September 2020 and 67.5% higher than August 2021, according to HMRC.

Mortgage borrowing settles after record month, BoE says By Gary Adams 3 rd June 2021 11:17 am Net mortgage borrowing in April came to £3.3bn, show new figures from the Bank of England, down from the record £11.5bn seen in March. This, the BoE says that “despite weaker net lending, both gross lending and repayments remain above levels seen since the start of 2020. The recent variability is likely to reflect the reduction in the stamp duty tax.” Meanwhile, the nu...

Homemovers have “emerged from the shadows” since last summer, says UK Finance, with its latest quarterly figures showing the number of transactions of this type outnumbering that of first-time buyers. UK Finance says that homemover numbers have been at approximately half their typical levels seen in 2005 to 2007

Net mortgage borrowing in April came to £3.3bn, show new figures from the Bank of England, down from the record £11.5bn seen in March. This, the BoE says that “despite weaker net lending, both gross lending and repayments remain above levels seen since the start of 2020. The recent variability is likely to reflect

Mortgage borrowing hits all-time high in March: BoE By Gary Adams 4 th May 2021 10:01 am Net mortgage borrowing in March hit £11.8bn, Bank of England data details – the biggest number seen since the bank started tracking this data in April 1993. This blows past the last record high, in October 2006, when an additional £10.4bn was borrowed against homes. In the previous month recorded, February 2021, £6.4bn of additional borrowing was counted. The BoE adds that g...

21 st April 2021 10:42 am The number of residential property sales registered in March was 32.2% higher than the previous month as buyers tried to beat the expected end of the stamp duty holiday, figures from HM Revenue & Customs reveal. The total for March was also  double the figure for the same month last year, during which the UK entered its first lockdown. According to the official seasonally-adjusted estimates, there were 190,980 residential property transactions in March, which is an ...

Phoebus Software has revealed that it intends to raise £10,000 for FareShare, the UK’s largest charity fighting hunger and food waste. Last year, the lender’s chosen charity was Acorn Children’s Hospice, which a total of £8,062 was raised for. The money raised equated to over 230 hours of nurse-led palliative care for children with tailored care plans. According to PSL, it has raised over £1,000 so far for FareShare through internal fundraising events such as an online disco event, a c...

House purchase approval number highest since 2007: BoE By Gary Adams 1 st February 2021 10:29 am The number of house purchase approvals made in 2020 came to 818,500 in 2020, describes data from the Bank of England. This, it says, is the highest number seen in a single year since 2007 and comes off a record low of 9,400 approvals recorded in May 2020. “Recent strength in approvals has more than offset the significant weakness earlier in the year,” says the bank. I...