- LIBOR priorities and milestones for 2020 outlined
- EBA report identifies key challenges in the roll out of Big Data and Advanced Analytics
- Banco Sabadell and IBM Services announce the signing of a ten-year services agreement designed to help the bank boost digitisation
- Carney appointed as the Prime Minister’s Finance Adviser for COP26(UN Climate Change Conference)
- Moneyfacts says that a real return on cash savings remains under threat
- Moneyfacts releases Star Ratings for SIPP and SSAS products
- Citigroup fourth quarter net income up expired
- MasterCard direct-to-mobile wallet launched in partnership with CleverCards and EML expired
- NatWest to provide Esme Loans and Rapid Cash lending services direct to users of pre-paid company card Soldo expired
- Specialized payments platform Paysafe launches Paysafecash in Cyprus expired
- PayPoint renews exclusive deal with Monzo to provide cash deposit solutions for its account holders expired
- Pockit launches new card design for its mobile current account and Pockit Prepaid Mastercard expired
29th November 2019
UK finance publishes household finance data for October
Gross mortgage lending across the residential market in October 2019 was £25.5bn, 0.9 per cent lower than in the same month in 2018, according to the latest Household Finance Update from UK Finance.
Mortgages approvals by the main high-street banks for home purchases in October were 3.0 per cent higher, remortgage approvals were 12.7 per cent up, while approvals for other secured borrowing were 2.1 per cent lower compared with October 2018.
Key data highlights for October 2019 (Published on 26/11/2019):
• Gross mortgage lending across the residential market in October 2019 was £25.5bn, 0.9 per cent lower than in the same month in 2018.
• Mortgage approvals for home purchases by the main high-street banks in October 2019 were 3.0 per cent higher, remortgage approvals were 12.7 per cent higher while approvals for other secured borrowing were 2.1 per cent lower than in October 2018.
• The £11.0bn of credit card spending in October 2019 was 2.3 per cent lower than in October 2018. Repayments have remained in line with credit card spending, showing that consumers are managing their finances responsibly and choosing to use credit cards as a preferred method of payment. The level of credit card borrowing grew by 3.1 per cent in the year to October 2019.
• Personal borrowing through loans in October 2019 was 7.4 per cent higher than in the same month a year earlier. Borrowing on overdraft has been declining over recent years and October’s level was 1.2 per cent higher than at the same time a year earlier.
• Personal deposits grew by 2.1 per cent in the year to October 2019. Three-quarters of deposits were held in immediate access accounts in October 2019, in line with the same period last year.