Gold prices: The yellow has found a new pocket of opportunity April 18, 2017 “Don’t gain the world and lose your soul; wisdom is better than silver or gold.” You may have to read the quote more than once, but Bob Marley knew what he was talking about. At the moment, investors seemingly disagree a bit with him, and they have pushed spot gold up around 8 per cent [...]
UK and London house prices: The disastrous new tax on buy to let landlords is really a tax on tenants April 6, 2017 Theresa May stood on the steps of Number 10 Downing Street last summer and pledged to help those “just about managing” families and build “a country that works for everyone”. After a divisive referendum campaign and a period of political turmoil, it was a reassuring message. Tackling Britain’s housing crisis was quickly identified as one [...]
There are 10 buyers for every property, propping up house prices March 21, 2017 Low supply is propping up the housing market as it has been rocked by property tax changes and uncertainty over the UK consumer's spending power. There are now 10 buyers for every property on sale in England and Wales, which Haart estate agents said was a "gap that is set to widen". House prices grew 2.6 per [...]
Here’s how much house prices grew this month March 20, 2017 Annual house price growth was slashed in March, failing to keep pace with the inflation seen when buy to let landlords were rushing to close property deals before the stamp duty tax hike. Asking prices were up 1.3 per cent (£3,877) in March as compared to the month before, according to Rightmove. Read more: House [...]
Revealed: Hampshire Trust Bank more than doubles new lending in 2016, after it launches commercial mortgages business March 19, 2017 Hampshire Trust Bank more than doubled the value of the new loans it wrote in 2016, City A.M. can reveal. The challenger bank racked up loan originations of £393m in its 2016 financial year, up 132 per cent compared with £169m at the end of 2015. The boost is partly thanks to the lender launching a commercial mortgages [...]
Bank of England steps up to push along Co-op Bank rescue plans, amid worries buyers might be shying away from the struggling lender March 19, 2017 The Bank of England's regulatory team has begun making plans of its own for Co-op Bank, as they become increasingly impatient with the troubled lender's sale. The Co-op Bank, which is currently 20 per cent owned by the wider Co-operative Group, revealed last month it was looking for a buyer for the whole of the business. [...]
Focus On Twickenham: Families flock to TW1 for period houses, riverside walks, and a 25min commute March 17, 2017 As the Six Nations tournament comes to a close this Saturday, all eyes are on Twickenham. This leafy south west London suburb may buzz with life around match days – with the thoroughfare between Twickenham station and the stadium getting particularly boisterous – but the rest of the time, it’s the picture of modern, aspirational [...]
House prices in this London borough are 38 times annual earnings March 17, 2017 Dream of affording your own home in London? Well, don't start your house search in Kensington and Chelsea. Read more: A third of first-time buyers now spend half a decade saving for a home The latest figures from the Office for National Statistics show that house prices in Kensington and Chelsea were 38.5 times median [...]
UK house prices: A third of first-time buyers now spend half a decade saving for their first home March 15, 2017 Nearly a third of first-time buyers now spend more than half a decade saving for their first home, new figures have shown. A report by Which? Mortgage Advisers showed 30 per cent of first-time buyers had spent five years saving for a house, with seven per cent saying they had saved for a property for more than [...]
New stamp duty rules annihilated buy-to-let mortgage borrowing in January March 14, 2017 The amount borrowed by prospective landlords fell 16 per cent in the year to January, as strict new rules on buy-to-let homes took their toll. Figures by the Council of Mortgage Lenders (CML) showed would-be landlords borrowed £800m to buy new homes in January, down from £1.4bn the year before, and £900m in December. The [...]