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Data from central bank beats forecasts as separate Nationwide figures show unexpected drop in house prices
Building society has hurdles to overcome to make £2.9bn acquisition pay off
Companies confirm details outlined this month to form challenger to UK’s biggest banks
Bid for Virgin Money comes as Labour seeks to double the size of the co-operative and mutual financial services sector
The potential merger is not a risk-free proposition
Proposed deal would create group with total assets of £366bn
Given sector consolidation was a virtual certainty and Virgin a decent prize, its board could have driven a harder bargain
Higher than expected rise in February as mortgage rates ease
Month-on-month increase of 0.7% is fastest pace since October as mortgage rates ease
Nationwide’s figures reflect stagnant market caused by impact of high mortgage rates on would-be home buyers
Building society warns customers under pressure though defaults lower than expected
Commercial banks are seen to be making progress though not without criticism of industry’s overall D&I performance
Mortgage provider points to lack of properties for sale as it reports increase of 0.9% in October
Data from Nationwide shows high mortgage rates are hitting the property market
Rising interest rates drive drop in prices in May and highest net repayment of loans outside pandemic
Chief says building society will distribute £340mn to members
Increase of 0.5% in April ended seven consecutive months of decline, Nationwide data shows
Annual decline of 3.1% in March is larger than drop forecast by economists
Drop of 0.6% in Nationwide survey comes as higher mortgage rates squeeze prospective buyers
Mortgage provider Nationwide records fourth consecutive monthly drop as rising interest rates deter prospective buyers
UK’s largest building society loaned its pension fund £400mn after mini-Budget turmoil
Market upheaval following mini-Budget hits property sector as household finances are squeezed
Average price unchanged from August to September but mini-Budget fallout hits mortgages
Banks that are still offering home loans are deluged with demand
Materials and energy inflation add to troubles for tradespeople
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