View more on these topics

Bank of England data hints at positive signs for economy as mortgage approvals stay steady

Data from the Bank of England shows that the “broadly stable” activity seen since 2016 continued into the final month of 2018, resulting in households borrowing £4.1bn against their properties.

This is up from November’s figure of £3.6bn and just above the six-month average of £3.9bn.

The data also shows that 63,793 house purchases were approved in December, worth a combined value of £11.9bn, down slightly from November’s 63,952 at £12bn.

Within the same time frame, 47,902 remortgages at a value of £8.5bn were approved, slight drops from 48,558 and £8.7bn, respectively.

In total, the value of loan approvals in December 2018 came to £21.1bn, down from the £21.3bn recorded in November, and down slightly from the previous six-month average of £21.7bn.

One77 Mortgages managing director Alasatair McKee comments: “While many have been preparing to place the last nail in the coffin of the UK property market ahead of any EU resolution that may occur, a monumental surge in lending suggests that there’s not only life in the old dog yet, but it could well make it to Crufts this year.

“Of course, it is early days, but this huge uplift in buyer demand could be just the shot in the arm we’ve been looking for and shows signs of promise for the year ahead.”


Delivering advice and guidance in the workplace

Three advisers share their ideas and experiences of helping employees with their financial decisions The workplace is instrumental in engaging people to save for retirement. How are advisers helping employers provide advice or guidance to their employees? Telephone guidance Financial education provider and advice firm Wealth at Work recently launched a telephone guidance service to […]


All mortgage transactions on hold as BoE hit by technical problems

UK borrowers cannot access a mortgage right now as the Bank of England confirmed a key payments system has been hit by technical problems. The Bank says it identified a technical issue this morning related to some routine maintenance of the real time gross settlement system payment system and has paused settlement while it resolves […]


DB transfers review criticises FCA register and Unbiased

The FCA’s website and Unbiased have been criticised as unhelpful in a major review of the communications received by members of British Steel Pension Scheme The review, commissioned by the Pensions Regulator and led by former Money Advice Service boss chief executive Caroline Rookes has been published today. It looks into communications and support provided […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm