View more on these topics

Two month high for mortgage approvals

Mortgage approvals reached their highest levels for nearly two and half years last month according to figures from the Bank of England.

The figures show the number approvals were upto 105,000 in February from 94,000 in Janaury. February&#39s figure highest since the method of collection was redefined in October 1997.

The approvals figures, which is above the average of 98,000 in the previous three months to Janaury, are fueling concern that the housing boom is spreading across England.

Nationwide Building Society reported house prices rose 2.2 per cent in February, up 15 per cent on th eprevious 12 months. The monthly rise was the highest since monthly records began in 1991.

The Monetary Policy Committee stresses that rising house prices are only one factor behind its decisions. It says although mortgage equity withdrawal has risen significantly in the past two quarters, it is still nowhere near the levels it reached in the late 1980s.


C&G says 90&#39s housing surge does not compare to 80&#39s boom

A Cheltenham & Gloucester survey says the current explosion of the housing market does not compare with the 1980&#39s boom. The affordability index says single income homebuyers will typically be spending 39.3 per cent of their take-home pay on their mortgage by the end of the year. But at the peak of the last boom […]

Abbey to upgrade digital channel

Abbey National is upgrading its pilot digital TV service next week giving half a million TeleWest cable customers access to basic banking services through their TV.Customers will be able to order leaflets, request a instant call back from Abbey National and browse for information on the bank&#39s services all from home.Abbey hopes to see customers […]

Stakeholder is forcing charges down, says research

Financial analyst the Research Department says anticipation of Stakeholder pensions is galvanising the pension industry into reducing charges. Group Personal Pension providers have started introducing schemes within Stakeholder&#39s 1 per cent maximum annual charge.TRD says this will greatly increase fund values in the early years of a fund&#39s set-up.TRD dot com Director Mark Hayes-Newington says: […]

Leeds & Holbeck offers special rate

Building Society Leeds & Holbeck is offering a special rate to new Instant Isa customers who open accounts before April 5. The 7.2 per cent rate is guaranteed for the 2000/2001 tax year and is available with a minimum balance of £1. The society&#39s Isa sales tripled during March taking the number of members up […]


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 advice.

    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