Virgin Money in London house prices warning

28th July 2017

House prices in London and other big cities could remain stagnant, Virgin Money has warned, noting its caution over issuing new loans in the capital for fear that borrowers overstretch. Virgin said: “The UK housing market is expected to remain resilient. However, in the near-term there may be some areas of weakness to be navigated. We remain vigilant about the potential for certain regions to see house-price weakness”. In the six months to June 30, gross mortgage lending came in at £4.3bn for the bank, taking its share of the market to 3.5%.

Financial Times (25/07/2017)