Stamp duty: TSB and Shawbrook join mortgage lender call for reform before Budget October 15, 2024 A group of mortgage lenders and brokers have called on the government to refund stamp duty for homeowners in a bid to accelerate energy efficiency improvements in UK housing and reduce national emissions. TSB, along with Shawbrook, the Mortgage Advice Bureau (MAB) and Leeds Building Society, have called on the government to provide more support [...]
Hospitality needs a magic spark of confidence to boom, brewery boss says October 10, 2024 The boss of Britain’s oldest brewer, Faversham-based Shepherd Neame, has suggested that the hospitality industry is nearly ready for a return to a boom period, but only is we serve up a spark of confidence. Neame suggested that if fundamentals remain strong and mortgages continue to fall, consumer spending on hospitality would follow a similar [...]
Monzo set for £4.5bn valuation in employee share sale October 10, 2024 Monzo is launching a secondary share sale that is set to value the digital challenger bank at £4.5bn, City AM has learned.
UK’s cash-strapped fintechs brace for buyouts as London IPOs stall October 8, 2024 Amid a dearth of IPO activity, the UK's fintech sector is bracing for more consolidation as successful start-ups expand and established players fend off future rivals.
UK house prices rise for third straight month ahead of Budget October 7, 2024 House prices rose for the third consecutive month in September, taking the average price of a property to the highest level in more than two years. House prices increased by 0.3 per cent month on month in September, and 4.7 per cent year on year. The average property now costs £293,399 – compared to £292,540 [...]
Wall Street claws back week’s losses thanks to strong jobs report October 5, 2024 US stocks rallied on Friday after a surprisingly strong report on the US job market raised optimism about the economy. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8 per cent, to set its own record, while [...]
Not ‘much to be optimistic about’ in London rental market October 3, 2024 Pressure on the rental market continues to build this autumn despite a cooling market earlier in spring, with more landlords selling up and more tenants looking for short-term homes, according to fresh data. More than three-quarters of agents have seen an increase in the number of tenants searching for properties, while more than half of [...]
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Libor: After more than 50 years, tainted benchmark is officially no more October 1, 2024 Libor, the more than 50-year-old benchmark borrowing rate, has officially been phased out after an arduous process kickstarted by a rigging scandal in the early 2010s.
Nationwide completes Virgin Money takeover to create high street banking titan October 1, 2024 Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.