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Lending figures up 1.1% in December

Total lending to individuals grew by £9.4bn (1.1%) in December – £0.6bn higher than November&#39s rise, figures from the Bank of England reveal.

The three-month annualised growth rate rose to 14.7% from 14.6% in November.

Secured lending outstanding grew by some £7.5bn or 1.1% in December, £0.1bn higher than the rise in November. Gross advances were £0.6bn higher at £20.9bn.

The number of loans approved for house purchase in December was 116,000, seasonally adjusted, compared to the average of 120,000 in the three months to November.

Consumer credit grew by £1.9bn or 1.2% in December, seasonally adjusted, £0.5bn higher than November&#39s rise.


New BDM at Commercial First

Commercial First, the latest entrant to join the ranks of specialist lenders in the UK, has appointed Stephen Kisby as its business development manager in the North and the Midlands. Kisby joins Commercial First&#39s sales team from Mortgageforce, where he was one of the company&#39s most respected and successful regional development managers. He spent almost […]

Retail savings market sees growth

The European retail savings and investments market has grown 8.1% over the period 1997-2001, a report from Datamonitor reveals. The UK accounts for the largest market share, followed by Germany. Retail deposits is the largest sector, driven by households increasing savings due to the slowdown of the global economy. The UK holds the largest retail […]

One way through the lead generation minefield

From Nat DanielsI am writing in response to the issues raised by Robert Clifford in last week&#39s magazine regarding lead generation, Alice in Wonderland-style. The question is, should advisers buy leads or do a revenue share? A hot lead is too expensive a gamble yet does the adviser have enough incentive to do business on […]

Anti-regulation lobby appeals to MEPs

The European Mortgage Federation is lobbying potential allies in a bid to block European Commission plans for regulating mortgages. The body, which counts the UK Council of Mortgage Lenders as a member, is seeking support from members of the European Parliament in the hope that mortgage loans will be removed from the proposed Consumer Credit […]

Strong dollar can be a powerful driver of UK dividend growth in 2015

By Robin Geffen, fund manager and CEO 

This year threatens to be a challenging one for UK dividend hunters. Last year saw an all-time record amount paid out in UK dividends — some £97.4bn, according to research from Capita Dividend Monitor. Yet as Capita also pointed out, out the biggest single factor driving the growth in the fourth quarter of last year was easy to identify: the rising US dollar. 

In our view, this trend is much more than simply a one-quarter phenomenon. It is actually the most profound issue to get right as a UK equity income investor in 2015. We believe that the US dollar will continue to strengthen significantly from its current level. This is due more to the US economy’s demonstrable de-coupling from the rest of the world than to a view on the UK. The US has a strong chance of tightening monetary conditions this year without jeopardising growth or de-stabilising its housing market. The same can unfortunately not be said about the UK.


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