Barclays Share Discussion Threads

[johnwise] 23/4/2024 14:32

Mortgage costs rise as banks confirm higher rates


Many homeowners could face higher monthly payments after some of the UK’s biggest lenders confirmed mortgage rate increases.

NatWest, Barclays, and Leeds Building Society have raised their rates on fixed-term loans, though not on all products.

Rates are rising as markets predict the Bank of England might not cut borrowing costs as much as expected due to stubborn inflation.

Rising rates will hit those who have not remortgaged since interest rates shot up in late 2022 following the ‘mini’ Budget. About 1.6 million homeowners’ fixed-rate deals will end this year.

NatWest has increased the rates for 60% loan-to-value two-year fixed and five-year fixed “switcher products”, for an existing customer moving to a new deal, from 4.89% to 4.99% and 4.39% to 4.49%.

Barclays said it had increased "most, but not all rates" this week. The rate for a two-year fixed deal with a maximum loan of £570,000 is up to 5.76% from 5.66% last week, while the equivalent five-year fixed rate is up to 5.00% from 4.90%.

Leeds Building Society also upped its rates for some products. Two-year and five-year fixed rates rose from 4.39% to 4.54% and 4.54% to 4.69%.

According to financial information company Moneyfacts, the average two-year fixed mortgage rate was 5.83% on Tuesday, up slightly from 5.82% the day before, while the average five-year rate was unchanged at 5.40%.

Tom Bill from agency Knight Frank predicted it will be a long time before homeowners have access to mortgage rates below 4%.

“The prospect of a five-year fixed-rate mortgage starting with a three anytime soon is pretty remote,” he said.

He added “mixed signals” on price movements within the economy were making the Bank on England’s interest rate decisions difficult.

Expectations about the future direction of the Bank's benchmark rate have a major influence on the mortgage rates offered by High Street banks.

The Bank's key rate currently stands at 5.25% and earlier this year analysts had expected to see it being cut from June.

However, inflation - the rate at which prices rise - has not been falling as fast as expected, leading some to push back their forecasts of when the Bank will take action

[johnwise] 23/4/2024 14:08

Higher-than-expected UK borrowing could spoil chance for pre-election tax cut


Government borrowing was £6.6bn above target, giving the Chancellor less room for tax cuts

Public sector borrowing in the UK – the difference between the government’s spending and income – was £120.7bn over the past financial year, according to the latest report from the Office for National Statistics (ONS).

While this was £7.6bn less than the previous year, it did overshoot the Office for Budget Responsibility’s (OBR) forecast by £6.6bn.

This could throw a spanner in the works for Chancellor Jeremy Hunt, who likely wanted to win over voters before the next election by cutting taxes.

With a slimmer budget to do so, Quilter investment strategist Lindsay James warned that an attempt to cut taxes while government borrowing was above target could cause chaos.

[johnwise] 23/4/2024 12:18

Tent Cities at the Horizon

NET Immigration of over 750,000 thousand extra people every single year is causing this 'housing crisis'

Housing crisis laid bare as couple turn disused bus stop into a temporary home



IMMIGRATION

Immigration Pledges Savings = £5 billion pa


Tent Cities in the World's Richest Country

[isis] 23/4/2024 11:59

Sunak is completely deluded. How does Rwanda stop people crossing the Channel??

[blueeagle7] 23/4/2024 11:32

above 193 now, just ...

[portside1] 23/4/2024 10:29

Facts.the share issue as fallen by 2.7 b over the last 4 years So that is 2.7 less shares to pay a div too But the rise will be our I see it and them up again in 25/26I am now looking for 235p by feb

[smurfy2001] 23/4/2024 09:55

Hope it’s better than that given the buybacks and share cancellation.

[portside1] 23/4/2024 09:38

Next div paid in sept is 3p then final of 6p

[johnwise] 23/4/2024 09:37

Fox News host Sean Hannity reacts to police clearing out protests at NYU and criticizes the New York Times' coverage of anti-Israel protests.

Sean Hannity: The pro-Hamas crowd is running the show

[reidy66] 23/4/2024 08:58

A push and hold above 193 is essential now ..this has been our sticking point for a while now with several failed attempts .

[johnwise] 23/4/2024 08:03

Elecosoft Public Limited Company (ELCO)

Final Results

The Group remains free of debt.

[smithyj] 23/4/2024 07:36

portside1 - How did you arrive at 235p ?

I am long but it is so unclear with over 5% decline and now rise up agsain.

[johnwise] 23/4/2024 07:33

Mortgage lenders hike interest rates as market jitters set in


Anxiety has set in among UK mortgage lenders, with rates being hiked left, right and centre, amid uncertainty about how the Bank of England's interest rate path will play out.

While Barclays hiked its rates for the second time in seven days on Monday, having been the first to move on Friday, Accord, NatWest, Leeds and HSBC all announced rate increases, as bets are pared on the chances of a dovish move by bank chief Andrew Bailey and the monetary policy committee in its next meeting.

NatWest upped rates on selected two and five-year switcher deals by 0.1 percentage points, while Barclays also said it would increase the rate on some products going up by 0.2 percentage points.

"This second price increase by Barclays in less than seven days just shows how fragile our market is," said Justin Moy, managing director at EHF Mortgages.

"With lower expectations for base rate cuts, the cost of oil and imports escalating, this is going to be a difficult few months for borrowers and home buyers to navigate. Inflation is not the only factor when setting rates as we know, but the influence of worldwide issues has rapidly influenced recent swap rates."

[johnwise] 22/4/2024 19:59

VIDEO

Mark Levin: Here's why Biden has been awful for America

"The Iranians will get a nuke then what the hell are we going to do"

[johnwise] 22/4/2024 19:49

BREAKING NEWS: Alina Habba Lambasts Letitia James After Defending Trump's Bond In Civil Fraud

Video


BREAKING: Trump Blasts Letitia James Over Challenge To Bond Company Before Hush Money Trial Hearing
Video

[johnwise] 22/4/2024 19:40

BREAKING: Tommy Robinson Court Hearing OVER

[portside1] 22/4/2024 16:52

D.v. 3.. ta

[stonedyou] 22/4/2024 15:46

NATO SENDS MORE ‘MILITARY ADVISERS’ AMID HEAVY LOSSES ON UKRAINIAN FRONTLINES.

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Do not forget that ‘there are no NATO troops on Ukrainian battlefields’. While thousands of ‘volunteers’, ‘humanitarian workers’, ‘military advisers’ etc, are dying on Ukrainian frontlines, NATO member states are trying to hide the losses. While the Alliance ‘does not intend to engage in the direct war against Russia,’ some of its members are sending more and more ‘military advisers’ to Kiev.

NATO Secretary General Jens Stoltenberg declared that, following the United States, several NATO members decided to increase the number of military advisers in Ukraine, while ‘the Alliance has no plans to deploy its troops in the war-torn country’. According to Stoltenberg, the advisers will coordinate the actions of the Ukrainian army with advises, but they will not participate in the fighting.

‘There are no plans for a NATO presence in a combat role, but of course some NATO allies there have men and women in uniform in embassies who give advice and so on,’ — the Secretary General said, but did not go into details.

The day before, Washington declared that it had decided to significantly expand the number of military advisers in Ukraine amid Ukrainian defeats. About 60 more ‘advisers’ will reportedly travel to the Ukrainian capital. They will not only ‘give advice to the General Staff of the Armed Forces of Ukraine’, but also track US weapons supplied to Kiev. The Pentagon also assured the public that military advisers would not participate in the fighting.

Thus, in the near future, a large number of fresh NATO troops will go to Kiev. The foreign officers do not only give advice, they coordinate the operations of the Ukrainian military, provide the necessary military reconnaissance, operate the foreign military systems deployed with the Armed Forces of Ukraine. A lot of NATO servicemen are taking part in the battles. The reason of the deployment of additional NATO forces are the high losses on the frontlines which include the citizens of the US, as well as other NATO member states.

Numerous videos show adventures of Americans on Ukrainian frontlines:

At the same time, President of Ukraine Zelensky is still trying his best to assure the public that their support to Ukraine is the best way to fight the ‘cruel Russians’. This is the suicidal policy of the Ukrainian leader.

“The US army now does not need to fight defending NATO countries. Ukrainians are doing this. And the civilized world only provides ammunition, and I think this is a good solution,” Zelensky said in an interview with NBC News

Despite the public claims of Zelensky, Americans and their NATO friends are suffering heavy losses in Ukraine, while Zelensky publicly admits that Western citizens are superior to the Ukrainians. Deaths of hundreds of thousands of Ukrainians are not a high price for the Kiev regime to pay for money from Europe and the US.

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