UK Finance

  1. Heathrow Border Force officer dies after catching coronavirus

    A UK Border Force officer who worked at Heathrow Airport has died after contracting coronavirus.

    The unnamed man is thought to have died last week after feeling unwell at work.

    The Public and Commercial Services Union has called for all officers to be equipped with protective equipment and described the situation as a "disgrace".

    Elsewhere in the UK:

    • Wales' Health Minister Vaughan Gething has said he is sorry that 13,000 letters for people most vulnerable to coronavirus were mistakenly sent to the wrong addresses. More than 80,000 people are meant to get a "shielding letter".
    • More than £1.1bn has been handed to UK businesses through the Coronavirus Business Interruption Loan Scheme (CBILS).
    • Scottish First Minister Nicola Sturgeon has accepted assurances from the UK Government that suppliers of personal protective equipment (PPE) are not being ordered to prioritise the NHS in England over Scotland and Wales .
  2. Personal borrowing climbs by 14%

    Piles of money

    More from those UK Finance figures published this morning.

    Personal borrowing through loans last month was 14% higher than in December 2018 but UK Finance said that reflected "the exceptionally weak demand a year earlier".

    Credit card spending climbed 7.3% over the year to £11.8bn in December but the actual level of borrowing on cards is currently growing at 2.4% a year.

  3. Home loan approvals climb 7.4%

    Homes

    However mortgage approvals in 2019 climbed 7.4% compared to the previous year according to the UK Finance figures, with December approvals up 24% compared to December 2018.

    "This should feed through into to a very active first quarter of 2020 for home sales and completion," predicted Mike Scott, analyst at estate agent Yopa.

    "These figures provide further evidence for a post-election surge in housing market confidence and activity," he added.

  4. Mortgage lending falls 1.1%

    Homes

    Residential mortgage lending fell 1.1% to £22.2bn in December 2019, according to the latest UK Finance household lending and deposits data published this morning.

    "It is perhaps disappointing that mortgage lending dipped slightly in 2019 but there is not much in it and UK Finance suggests that there is still a stronger long term lending trend," said Jeremy Leaf, north London estate agent and a former RICS residential chairman.

    "Demand cannot remain pent-up indefinitely and on the ground we have not been surprised by the determination of some buyers to take advantage of improving affordability from almost record-low mortgage rates and rising real wages."

  5. Mortgage approvals at seven-month low

    Houses

    Mortgage approvals have fallen to a seven-month low.

    Lenders approved 41,219 mortgages in October, down from 42,216 in September, trade association UK Finance said.

    However, the value of secured lending rose in October by £3.452bn, the largest increase since March 2016.

    UK Finance said consumer lending increased by 4.5% in annual terms in October, increasing from 4.4% in September and marking the highest rate since February 2018.

  6. Number of mortgages rose in September

    Homes

    New mortgages trends figures have just been published by trade body UK Finance. They reveal there were:

    • 29,100 new first-time buyer mortgages completed in September, 1.6% more than in the same month in 2018.
    • 29,050 home-mover mortgages completed in the month, a rise of 1.8%.
    • 17,740 new remortgages with additional borrowing, 5.9% up.
    • 5,500 new buy-to-let home purchase mortgages completed, 3.5% down.
  7. Data suggests jump in first-time-buyer mortgages

    chart

    Industry lobby group UK Finance says there were 27,370 new first-time buyer mortgages completed in April 2019, 7.9% more than in the same month in 2018.

    It adds that there 5,100 new buy-to-let house purchase mortgages completed in April 2019, the same as this time last year. There were 14,400 remortgages in the buy-to-let sector, the same as this time last year.

  8. Industry lobby group on overdrafts

    Quote Message: The industry is working on a voluntary agreement to make the cost of overdraft borrowing easier to understand for consumers which will be implemented in April 2020. This will build on the range of measures already introduced by the industry, such as text alerts which have been shown to reduce overdraft charges by 25%. Overdrafts can provide a convenient way for customers to smooth their short-term cashflow, and there is a highly competitive market in the UK with over 96 products on offer. We would always urge customers to speak to their bank and arrange an overdraft in advance to ensure payments are honoured.” from Eric Leenders managing director of personal finance at UK Finance.
    Eric Leendersmanaging director of personal finance at UK Finance.