UK credit: one in four adults have difficulty borrowing

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Rising interest rates unlikely to quash house price fears

The Bank of England announced a quarter-point rise in interest rates last Thursday, taking them to their highest level since October 2001. This widely expected move has been motivated by seemingly unstoppable growth in UK house prices and the rising crude oil price. However, as Datamonitor's Oksana Selezneva explains, the bank's moves may have little immediate impact...

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Nationwide: all smiles as lender bounces back

Nationwide has announced a healthy rise in profits fuelled by favorable trading conditions and strong performances in both remortgaging and advances. The group now ranks as the UK's fourth largest mortgage lender, surpassing rival Barclays, capping a remarkable turnaround for the once beleaguered building society.

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UK pensions: as safe as houses?

The Pensions Policy Institute has stated that pensions are better long-term investment vehicles than property, providing a more significant retirement income than home ownership. But following a plethora of crises in recent years, the industry must first work to restore public confidence in its products.

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UK mortgages: buy-to-let advances to reach GBP31,000 million by 2008

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Six-fold growth in buy-to-let market

The buy-to-let mortgage market has grown six-fold over the last five years. However, Datamonitor's Helen Smith says that the importance of the rental market is not as strong as often stated and the slowdown in house price rises and over supply of rental property will contribute to a slower rate of growth for buy-to-let mortgages...

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UK interest rates: no surprise at rise

With the housing market and household debt showing few signs of slowing down, this latest quarter-point increase in the Bank of England's interest rate to 4.75% was widely expected. A further rate rise is almost certain to take place next month in a bid to keep inflation below the bank's 2% target.

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Internet no rival to bank branch when it comes to sorting finances

In the past, UK banks have viewed their branch networks as a costly overhead, with many embarking upon branch closure programs in the early 1990s. However, Datamonitor's Andrew Birkett argues that the branch network is a key weapon in the fight to win and retain customers...

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UK mortgages: the buy-to-let bubble bursts

The Royal Institute of Chartered Surveyors (RICS) reported this week that rising base rates and uncertainty over future housing prices has deterred new landlords from entering the buy-to-let market, while some existing landlords are looking to sell-up. The next five years will see short term investors leave the market as weakening rental demand makes buy-to-let less viable.

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UK mortgages: costs hitting home

Following five successive increases to base rates, homeowners are now spending more of their take-home wage on their mortgage than at any time since 1992. With those who took large income multiples to get onto the housing ladder now feeling the pinch and the market already slowing, any further rises could have tough repercussions.

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