Fogwill & Jones

Gross mortgage lending up 10% year-on-year

Kathy — Mon, 20 Feb 2012 19:29:22 +0000

According to a report by the Council of Mortgage Lenders, gross mortgage lending increased 10% to £10.5 billion in January 2012, up 10% from January 2011. Despite this good news, this figure still represents a 14% monthly decline compared to the £12.2 billion loaned in December 2011.

Inflation dips as consumers gain confidence

Kathy — Mon, 20 Feb 2012 19:28:42 +0000

The Bank of England supported by the Markit Household Finance Index survey both indicate that consumers are gradually gaining confidence and that consumption may start to grow. Furthermore, a survey by the Chartered Institute of Personnel and Development (CIPD) reported that employers reached their highest level of pay intentions since spring 2009.

Greek bailout edging ever closer

Kathy — Mon, 20 Feb 2012 19:27:59 +0000

Finance ministers from the Euro zone are closer to agreeing Greece’s second, €130 billion rescue package but it doesn’t appear that this will solve more than the short term financial needs for the Greek economy.

Santander fined £1.5 million by the FSA

Kathy — Mon, 20 Feb 2012 19:27:04 +0000

The Financial Services Authority (FSA) has fined Santander £1.5 million for “failing to confirm under which circumstances its structured products would be covered by the Financial Services Compensation Scheme (FSCS)”.

FTSE at 7 month high

Kathy — Mon, 20 Feb 2012 19:26:08 +0000

The FTSE gained 0.68% to reach 5945 today; it’s highest level since July 2011 on positive news out of China and hope that there will be resolution with the Greek bailout deal.