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UK mortgage approvals turn around


LONDON - British mortgage approvals rose for the first time in five months in June, suggesting lenders were getting back into their stride after the introduction of more stringent tests for borrowers earlier this year.

IMF says UK interest rates should stay low for now 7:29am BST

LONDON - The Bank of England won backing from the International Monetary Fund on Monday for keeping interest rates low, even as the IMF welcomed signs that Britain's surprisingly strong economic recovery is broadening.


Britons warier about house-buying 28 Jul 2014

LONDON - Britons are feeling much less positive about buying a house while sentiment toward selling is improving, according to a survey on Monday which added to other suggestions that the housing market is losing a bit of steam.


House prices grow at slowest rate in over a year in July 25 Jul 2014

LONDON - British house prices grew at their slowest rate in over a year in July in the latest sign that Britain's housing market may be starting to cool, a survey showed on Friday.


Poll shows UK homeowner confidence stalls for first time in 18 months 24 Jul 2014

LONDON - One measure of consumer confidence in Britain stalled for the first time since December 2012 this month as fewer people expect house prices to rise, a survey by polling company YouGov showed on Thursday.

Energy firms SSE and UKPN to pay out over Christmas storms 24 Jul 2014

LONDON - British energy firms SSE and UKPN have agreed to pay 8 million pounds in compensation after tens of thousands of customers were left without power during torrential storms last December, regulator Ofgem said on Thursday.


Bank of England eyes wage puzzle as it mulls when to raise rates 23 Jul 2014

LONDON - Bank of England officials discussed in July whether there was a case for an early rate rise to cool Britain's economy, but were held back in part by strikingly low wage growth and signs of weakness abroad.

UK mortgage approvals turn up in June despite housing curbs 23 Jul 2014

LONDON - British banks reported their first sizeable increase in mortgage approvals in five months in June but it was too early to gauge the impact of new mortgage restrictions, the British Bankers' Association said on Wednesday.

Metro Bank ramps up lending to challenge bigger rivals 23 Jul 2014

LONDON - Britain's Metro Bank said on Wednesday its lending had more than trebled at the end of the second quarter compared with a year earlier, and more than half of its lending was to businesses.


Government offers more workers choice to cash in pension savings 21 Jul 2014

LONDON - Britain will give more workers a choice to cash in their pension savings, the government said on Monday, expanding reforms set out earlier this year that hit insurers' share prices.


City of London's Gherkin tower put up for sale

LONDON - The Gherkin skyscraper in the City of London has been put up for sale and the landmark building is expected to attract interest from around the world, joint agents Savills and Deloitte Real Estate said on Tuesday.

Merchant Navy pension scheme in 1.3 billion pound deal with insurers

LONDON - The Merchant Navy Officers Pension Fund (MNOPF) said on Thursday it had agreed a deal to transfer 1.3 billion pounds ($2.21 billion) in liabilities to insurers Rothesay Life and Legal & General.


UK banks face break-up threat as watchdog plans competition probe

LONDON - Britain's big banks could be broken up after the country's new competition watchdog set out plans for an 18-month investigation into services for small business customers and personal accounts because of a lack of competition.

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