Mortgage approvals fall as lending to businesses also drops March 29, 2019 Mortgage approvals for house purchases fell in February while the number approvals for remortgaging also decreased, data released today showed. Meanwhile, the annual growth of bank lending to businesses fell in February for non-financial businesses, reversing an increase in January, Bank of England (BoE) data revealed. Read more: Sluggish GDP growth and shrinking business investment in UK [...]
Worst London house price drop in 10 years drags down UK house prices growth March 29, 2019 UK house price growth stayed soft in March as London's worst house price drop in a decade dragged down the market. Prices rose 0.7 per cent in March compared to the year before, according to Nationwide’s latest house price index, a modest 0.2 per cent higher than February. Read more: UK house prices: Brexit means prices [...]
Facebook set to snap up Debenhams HQ as embattled retailer surrenders lease March 28, 2019 Facebook has agreed to swoop up new office space left empty by troubled department store chain Debenhams, which is vacating its West End HQ to help pay off a mounting debt pile. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The tech giant, which which has been ramping up its [...]
The Tulip awaits go-ahead after nod from City planners March 27, 2019 Proposals for a new tower in the Square Mile known as 'The Tulip' have been moved one step closer to reality following a recommendation from the City Corporation’s chief planning officer. The 1,000 feet skyscraper, designed by Foster and Partners, is expected to be given the green light by the City’s planning committee at a vote [...]
London house prices start to stabilise after three-year dip March 27, 2019 Signs that London’s house prices could be starting to stabilise emerged this morning, with a new study showing that values picked up slightly in February. According to Zoopla, househunters that have previously held off on deals are seeking out buying opportunities in the capital following weaker house price growth amid the Brexit uncertainty. Read more: [...]
Bellway hikes dividend as revenues jump despite Brexit knock on confidence March 27, 2019 Bellway posted a double-digit rise in revenues this morning, shrugging off fears of Brexit uncertainty as cheap borrowing, high employment and the government’s Help to Buy scheme all provided a boon for the housebuilder over the last six months. In its interim results for the half-year to to 31 January 2019, the FTSE 250 developer posted [...]
Ex-Uber boss Travis Kalanick’s new venture snaps up UK ‘dark kitchens’ business March 26, 2019 The food delivery company run by Travis Kalanick snapped up London ‘dark kitchens’ firm Foodstars last year, as the former Uber boss looks to expand his new venture in the UK. City Storage Systems, which trades as Cloud Kitchens in the US, quietly bought the startup up last year, according to documents filed to Companies House. [...]
City watchdog says it could amend rules to rescue ‘mortgage prisoners’ March 26, 2019 City watchdog the Financial Conduct Authority (FCA) said today it could change its lending rules to help so-called mortgage prisoners switch to more affordable deals. Mortgage prisoners are homeowners, often paying expensive rates, who are unable to switch deals despite being up-to-date with their mortgage payments. The regulator is proposing to amend its responsible lending [...]
UK mortgage approvals fall as Brexit uncertainty bites March 26, 2019 Mortgage approvals in the UK have fallen year-on-year as homebuyers put off their decisions amid political uncertainty, new data has revealed. The number of mortgages approved by the main high street banks in February was 2.2 per cent lower than the same month in 2018, the finance and business services body UK Finance said today. [...]
Abolishing residential leasehold could create more problems than it will solve March 26, 2019 If you own a flat, the chances are you are a residential leaseholder. Until recently, the leasehold structure was the only form of ownership for flats and other properties benefiting from common areas and shared services. But recent cases of misconduct in the residential leasehold sector have captured the public imagination, leading to intense government [...]