Nationwide to triple deposits for first-time buyers June 17, 2020 Nationwide is to triple its minimum required deposit from first time buyers for mortgages, as it steadies itself to avoid a crisis should the economy worsen. The country’s second largest mortgage lender said it would be increasing its minimum deposit from five per cent to 15 per cent, withdrawing loan deals for new customers. “The [...]
FTSE 100 and European stocks drop as Wall Street rally fizzles out June 9, 2020 The FTSE 100 sank into the red on Tuesday as Prime Minister Boris Johnson prepared to outline further measures to ease the Covid-19 lockdown. The blue-chip index was expected to make gains after the UK reported its lowest tally of coronavirus deaths since lockdown began yesterday, with London reporting no new Covid deaths, but had [...]
Bellway cautious on trading after coronavirus lockdown forces house sales down June 9, 2020 British housebuilder Bellway sold about 1,000 fewer homes between August and May, after it closed its centres because of the coronavirus lockdown. The Newcastle-based company, which has restarted construction activity on around 230 sites, warned this morning that it expects sales activity to be “severely constrained”, driving shares down 2.7 per cent. Bellway sold 6,721 [...]
Property stocks jump as restrictions on UK housing market ease May 13, 2020 Estate agent and housebuilder stocks soared this morning after the government last night loosened lockdown restrictions on the UK housing market. Shares in London estate agent Foxtons surged 8.31 per cent to 43.65p and online platform Purplebricks’ stock soared 11 per cent to 37.86p. LSL Property Services, the owner of Your Move and Reeds Rains, [...]
Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
Coronavirus: Barratt Developments scraps dividend March 25, 2020 Housebuilder Barratt Developments has scrapped its £100m payout to shareholders over the business uncertainty caused by coronavirus. Barratt, which has closed all of its sites, said it expects the coronavirus outbreak to have a “significant impact” on construction output and reservations and has cancelled all previous financial guidance. The company said that due to the [...]
Coronavirus: Bellway scraps dividend and warns of ‘substantial disruption’ March 25, 2020 Bellway has warned of a period of “substantial disruption” during the coronavirus outbreak, as it cancels its interim dividend to preserve its balance sheet. Bellway said the coronavirus outbreak had threatened liquidity across the economy and as such, the board is taking immediate action to preserve the balance sheet. The housebuilder’s interim dividend will be [...]
FTSE 100 reshuffle: The five stocks at risk of falling out of London’s blue-chip list March 2, 2020 Supermarket chain Morrisons, B&Q owner Kingfisher and travel agent Tui are among the companies at risk as the FTSE braces for a reshuffle this week. The next quarterly shake-up is due to be announced on Wednesday, based on closing prices tomorrow. NMC Health, which is facing a probe into its finances by the City watchdog [...]
Housebuilders boosted by HSBC stock upgrade February 19, 2020 Shares in housebuilding firms jumped today after HSBC upgraded its view on the stocks, saying the decisive general election result “unleashed pent-up demand” in activity. Berkeley’s share price rose 3.2 per cent to an all-time high this morning after HSBC upgraded the stock from “hold” to “buy”. The bank now has “buy” ratings on all [...]
Bellway shares slump after warning on growth October 15, 2019 Shares in house builder Bellway slumped more than five per cent this morning as it warned of a slowdown in house price growth and climbing building costs. Profit increased at the FTSE 250 firm but Bellway said it expected to deliver more moderate growth in the coming year. Read more: Bellway posts strong spring sales [...]