Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
Apple’s big event is happening on 7 September for expected iPhone 7 launch August 29, 2016 It's here! Apple has set the date for the much anticipated event where it's expected to launch its latest device – the iPhone 7. An invitation for the event was sent out on Monday afternoon saying "See you on the 7th". The event will be held at 10am pacific time – 6pm in the UK – in [...]
Owen Smith to propose scrapping university fees and building starter homes to appeal to younger voters August 27, 2016 Trailing incumbent Jeremy Corbyn in the polls challenger, Owen Smith is to propose scrapping university tuition fees to appeal to younger voters. Smith is to make the pledge, along with a scheme to build starter homes for those aged under 30, as the Labour leadership contest continues. Smith is to make the announcement when he [...]
Brickgate: A war is kicking off in the construction industry after estate agents claimed there is a shortage of bricks August 25, 2016 Forget Jeremy Corbyn versus Owen Smith – there's a new feud in town. You might say relations between these two are rather stony… Brick makers have taken issue with research put out earlier today by the National Association of Estate Agents (NAEA) and the Centre for Economics and Business Research (Cebr), which suggested not only [...]
Lending to London’s home movers sinks as first-time buyers edge onto the property market August 24, 2016 Home movers are releasing their grip on London's housing market, as data released from the Council of Mortgage Lenders (CML) shows they took out fewer loans in the second quarter. CML said home movers withdrew 6,700 loans in the second quarter, a fall of 37 per cent as compared to the first quarter of 2016. [...]
The hardest word: Full text of Lloyds boss Antonio Horta-Osorio’s letter to his staff over tryst allegations August 24, 2016 Lloyds boss Antonio Horta-Osorio has issued an apology to his staff after an alleged tryst with Russell Group boss Dr Wendy Piatt. Sky News reported last night that Horta-Osorio was preparing to write to his 75,000 staff expressing "deep regret" over the allegations, which surfaced earlier this month after he and Platt went on a business trip [...]
SMMT reveals bumper used cars sales in first half of 2016 but remains cautious about further growth August 23, 2016 There was the highest number of used car sales on record in the first of half this year according to the Society of Motor Manufacturers and Traders (SMMT). The number of used cars changing hands grew by 7.9 per cent in the first six months of 2016 and during the second quarter of the year [...]
First time buyers bounce back on to the property market as stamp duty changes take effect August 22, 2016 First-time buyers have finally started taking a bigger slice of London’s most exclusive postcodes, as stamp duty changes scare off landlords. The proportion of prime London home purchases made by first-time buyers went from 22 per cent in the first quarter of the year, up to 34 per cent in the second, according to data from [...]
The government’s high-profile Help to Buy scheme has come under fire because extra financial support cannot be used towards deposits August 20, 2016 A government scheme to support first-time buyers has been blasted by political rivals because a so-called "top-up" on savings cannot be used towards the deposit on a new home. Revealed in the pre-election 2015 Budget, the Help to Buy ISA provided a government boost to savings at a rate of 25 per cent. So a saver [...]
Opinion: Rightmove’s housing index shows that London may have fallen, but it’s sunny in the Shires August 18, 2016 The latest housing index from Rightmove has caused a stir, revealing that prices have hit their lowest point since November and have dropped 1.2 per cent nationwide. Londoners in particular seem hardest hit with the average price falling 2.6 per cent. It’s very easy to put the entire blame on Brexit and increases in Stamp Duty, but [...]