The Latest Breaking News from Simon Gammon

COMMENT: A slowdown at the top end of London’s property market is the latest indicator that individuals with a high net worth are hedging their bets on Britain, says Knight Frank’s Simon Gammon. The government can no longer bank on a globally minded minority to fund massive imbalances in taxing…

Households are adjusting to ‘ongoing cost pressures’, one finance expert said.

The value of outstanding mortgage balances with arrears increased by 4.2% from the previous quarter to £21.3 billion.

Mortgage balances with some arrears at highest value since late 2016, Bank of England data shows

The annual growth rate for consumer credit was 8.6% in November, the highest rate since September 2018, according to the Bank of England.

First Direct is making mortgage rate cuts of up to 0.40 percentage points and Halifax is cutting rates by up to 0.46 percentage points

Some 43,300 mortgages were approved for house purchase in September, marking the lowest monthly total since January 2023.

Strong wage growth could help to slow home repossession rates, experts said.

Some 35,600 mortgages were approved for house purchase, which was the lowest total since May 2020, according to Bank of England figures.