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31.03.26 - 09:00
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UK house prices rise and economic growth revised up but Iran clouds outlook – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Nationwide, the building society, is kicking the day off by reporting that UK house prices have risen by 0.9% in March compared with the prior month, and by 2.2% on an annual basis.The sharp rise in global energy prices in response to developments in the Middle East represents a significant shock to the global economy, clouding the outlook.In the near term, UK economic growth is likely to be slower and inflation higher than previously expected, although ultimately the impact will depend on the duration of the shock as well as the policy response. The outlook for interest rates is particularly uncertain and dependent on whether the demand or supply side of the economy is more adversely affected.Towards the end of March, three interest rate increases were priced in over the next twelve months, compared to two rate cuts being anticipated before t...
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30.03.26 - 13:01
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UK Mortgage Approvals At 3-Month High (AFX)
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LONDON (dpa-AFX) - UK mortgage approvals increased to three-month high in February and consumer credit rose the most in nearly two years, data from the Bank of England showed Monday. Net mortgage ......
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26.03.26 - 08:00
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Average UK mortgage rate rise to highest since August 2024 as Iran war pushes up borrowing costs – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsConsumer confidence in the UK has “collapsed” since the start of the Iran war, according to new research from the British Retail Consortium.The sharp rise in energy prices caused by the effective closure of the strait of Hormuz and attacks on infrastructure in the region has led to fears of higher inflation and weaker growth across oil-importing countries.“The Moneyfacts Average Mortgage Rate has hit 5.50% - heights last seen more than 18 months ago, marking another unwelcome milestone for borrowers this month. These rising costs are in direct response to the conflict in the Middle East which has dramatically shifted market expectations around inflation and future interest rates, with lenders scrambling to keep up with rising funding costs.“Moneyfacts' analysis of more than 30 years of historic rates data shows mortgage rates have historically averaged around 1.5-1.75 percentage points above Base Rate. If a couple of rate rises materialise...
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24.03.26 - 08:18
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Ministers delay new rules for low-carbon housing in England (The Guardian)
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Homes built from March 2028 will produce 75% less greenhouse gas emissions than those built to 2013 standardBuyers of new homes are likely to be shackled to high gas prices for years to come, as the government has delayed bringing into force new regulations on low-carbon housing.Most newly built homes will come equipped with solar panels and heat pumps from March 2028, according to updated regulations for England called the “future homes standard” (FHS), but the government has relented on plans for more stringent rules under pressure from housebuilders. Continue reading......
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24.03.26 - 08:12
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UK mortgage interest rates expected to rise despite Trump′s Iran pause (The Guardian)
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Bank of England likely to make two quarter-point increases amid sustained rise in inflation, investors believeBusiness live – latest updates'Trumpflation': how the Iran war's economic storm could affect BritonsHomeowners' choice of mortgage deals has shrunk and interest rates on home loans are expected to rise this week despite financial markets reacting positively to Donald Trump's pause on his threat to attack Iranian power plants.Early on Monday, as the end of a two-day deadline set by Trump for a deal with Iran grew closer, financial market data implied that investors believed the Bank of England would attempt to tackle rising prices with four quarter-point increases in rates before the end of December. Continue reading......
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24.03.26 - 07:48
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Property company denies trying to mass-evict tenants before England′s no-fault evictions ban (The Guardian)
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Exclusive: Housing minister wrote to Criterion Capital seeking urgent answers after MP said it issued at least 130 section 21 noticesA property company accused of trying to mass-evict tenants in the weeks before no-fault evictions are banned has denied doing so, saying it is simply implementing “routine and lawful tenancy management”.A statement from Criterion Capital, set up by the billionaire property magnate Asif Aziz, was issued in response to Matthew Pennycook, the housing minister, who wrote to the company to seek “urgent” answers about its plans. Continue reading......
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19.03.26 - 09:24
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Why are mortgage rates going up when the Bank of England base rate hasn′t changed? (The Guardian)
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To understand this you need to know about swap rates and the impact of the war in IranOn 16 January, the average rate on a new two-year fixed-rate mortgage was 4.78%, according to the financial data company Moneyfacts. Two months later, it was 5.20%. Between those two dates, the Bank of England voted to keep the base rate at 3.75%. More significantly, though, the US and Israel carried out airstrikes on Iran and a conflict broke out.The US air attacks on Iran have caused economic shocks across the world. Stock markets have tumbled, petrol and heating oil prices have gone up and there have been warnings of higher bills to come, for everything from food to holidays. All of this feeds into interest rate expectations, and from there into mortgage rates. Continue reading......
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