David Cameron warns of mortgage rise if Britain votes for Brexit June 5, 2016 David Cameron has warned that mortgages could rise for millions of homeowners if Britain votes to leave the EU. The Prime Minister has said average repayments could rise by nearly £1,000 a year because leaving Europe could lead to tighter credit controls as well as pushing up interest rates. But the claim has been called "desperate" [...]
Institute of Directors boss slams Arcadia chairman over BHS collapse in open letter to MPs June 3, 2016 A day after its collapse, the boss of one of the UK's largest business lobbying organisations has said he "can't defend" the running of BHS – and added that "serious questions need to be asked of almost everybody concerned". In an open letter to MPs Frank Field and Iain Wright, chairs of the Commons Select [...]
Dumbed down Brexit row patronises voters June 3, 2016 Like clockwork, yesterday brought another slew of extreme projections about the impact of Brexit. It would “destroy” young people’s hopes of getting on the housing ladder, says Remain, apparently forgetting George Osborne’s warning last month that house prices could fall dramatically if the UK quits the EU (surely a boon for first-time buyers). Leave has [...]
Focus On Southfields: This south west London suburb is bucking the London property trend ahead of Wimbledon June 2, 2016 If you went down to Southfields today, you’d be in for a big surprise. Buying London property is hardly a teddy bear’s picnic at the best of times, but as buyers rush to the leafier outskirts in search of more affordable property, outer boroughs that were once overlooked are finding they’re in high demand. London [...]
Homemover loan applications had the highest success rate for mortgage approvals in the first quarter June 2, 2016 Homemover loan applications registered the highest success rate for converting mortgage applications into completed deals in the first quarter, according to the Intermediary Mortgage Lenders Association (IMLA). The IMLA data shows that 80 per cent of homemover applications resulted in an offer and the same percentage of offers led to a deal. Read more: Nearly two out [...]
Crowdfunding: Why private equity opportunities are ever closer for investors June 2, 2016 Small business investment has gone mainstream – or has it? While individual private investors looking to back early-stage businesses are spoilt for choice as crowdfunding gathers pace, opportunities for them to provide private equity backing to more established SMEs remain scarce. Investing in such businesses is often more complex, but usually offers a better risk/return [...]
Defined benefit pension scheme deficits break £300bn mark, as uncertainty surrounding a potential Brexit grows June 1, 2016 The level of funding across defined benefit (DB) schemes has worsened over the last year, figures out today show. According to the analysis by JLT Employee Benefits, the total deficit across all private sector DB schemes has increased to £310bn at end of last month, up from £255bn the same time the year before. "Pension [...]
UK mortgage lending dropped to its lowest level since the height of the eurozone crisis in April June 1, 2016 Mortgage approvals have hit their lowest level since the height of the Eurozone crisis, according to the Bank of England. Mortgage loans totaled just £281m in April, their lowest level since August 2012, after the hike in stamp duty came into effect at the beginning of the month and buy to let landlords fled the [...]
UK steel: Tata Steel sells European business to Greybull Capital June 1, 2016 Tata Steel has sold part of its European steel business to Greybull Capital, a private equity company. Greybull, which specialises in taking on struggling companies, has become the owner of Tata Steel's long products business, including the plants in Scunthorpe and mills on Teesside. Bimlendra Jha, executive chairman of the Long Products Europe business and [...]
Looking for your first home? Find a partner first; nearly two out of three first-time buyers are couples May 31, 2016 If you're looking to buy your first home in the UK, think about looking for love first; new research out today shows most people aren't trying to go it alone in the current housing market. First-time buyers are on the up, but almost two out of three of them are buying as part of a couple, underscoring [...]