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Mortgage approvals remain static in November

There were 52,854 approvals for house purchases in November, up only slightly on October’s 52,786, the latest figures from the Bank of England show.

Its Trends in Lending data released today, shows the number of approvals for remortgaging were down to 31,154 in November from 34,004 in October, resulting in overall mortgage approvals falling to 104,853, down from 107,555 in October.

However gross mortgage lending increased to £12.6bn in November, up from £12.1bn in October.

Capital Economics UK economist Samuel Tombs says: “The latest UK lending figures show that the upward trend in mortgage approvals seen for most of 2011 slowed in November. At least this exceeded the widely-held expectation of a fall in approvals.

“However, we fear that approvals for new house purchase might soon start to fall as banks further restrict the availability, and raise the price, of credit in response to the deterioration in wholesale funding markets.”


Berry Asset Management signs partnership deal with SEI

Berry Asset Management has signed a strategic administration partnership agreement with SEI. The deal will see SEI provide administrative support to the private client wealth management firm. Berry Asset Management chief executive Jamie MacLeod says: “By investing in SEI’s technologies, and working in close collaboration, we can focus on our core activity, managing assets for […]


Virgin Money to sponsor Newcastle United

Virgin Money has agreed a two-year shirt sponsorship deal with Newcastle United which will run until the end of the 2013/14 season. Virgin will also assume sponsorship of the club from Northern Rock for the remainder of this season, following Virgin’s successful acquisition of the state-backed bank on January 1. Virgin Money announced the acquisition […]


ABI, unions and charities increase pressure over LTC funding

The leaders of 47 organisations including the Association of British Insurers and various charities and unions are calling on the Government and other party leaders to find a consensus on the funding of long-term care. The letter is signed by ABI chief executive Otto Thoresen (pictured) as well as Trades Union Congress general secretary Brendan […]


Derbyshire-based IFA charged with 44 offences

A Derbyshire-based former IFA has been charged with 44 separate offences including fraud, deception, and false accounting. Malcolm Green, who worked for MG Financial and Insurance Services, was bailed by police today and will appear at Chesterfield Magistrates Court on Monday January 30. According to the FSA register, Green worked for MG Financial and Insurance […]

Mark Page: “A good time to be a European fund manager”

With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]


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