Pensions under threat from Brexit July 6, 2016 Savers have faced the biggest shake-up to the pensions system in a generation under the watch of chancellor George Osborne. Many of the changes are controversial, and others have been announced yet not formalised. But Brexit has put a spanner in the works – as negotiations over a deal with Europe under a new Conservative leader [...]
Former Labour leader Ed Miliband calls for rent-to-own industry to be better regulated July 4, 2016 Following an investigation, former Labour leader Ed Miliband has called on the rent-to-own industry to be better regulated. Having investigated some rent-to-own companies in his constituency of Doncaster, Miliband said "my constituents have told me they can end up paying three times as much, if they miss a payment or are late the costs spiral or worse, [...]
Opinion: A real estate legal specialist explains why using Brexit to get out of a property deal is a very bad idea June 30, 2016 Several days on from the result of the EU Referendum and, inevitably, many are wondering how leaving the EU will affect the London residential property market. First, it’s important to take a step back and look at what was happening before the referendum. The 15 per cent stamp duty and annual taxes for properties worth [...]
Planning permissions for new homes reached the highest level since 2008 in the first quarter June 30, 2016 There were signs housing supply could be on the up earlier this year as planning permissions for new homes are reached their highest level since 2008. Permissions for 66,102 homes were granted in the first quarter of this year in England, up four per cent on last year, according to research from the Home Builders Federation (HBF) and [...]
More than 2,000 people have already cashed in their Help to Buy Isa just four months after launch – getting a bonus of just £421 June 30, 2016 Perplexing news from the Treasury, which has reported more than 2,000 people have so far cashed in their Help to Buy Isas – meaning they've made an average of just £421. The figures, published this morning, showed 1,490 properties were bought in the four months to the end of March through the scheme, which gives savers a £50 [...]
My Local formally collapses into administration putting 1,658 jobs at risk June 29, 2016 Convenience chain My Local has formally gone into administration putting 1,658 jobs at risk. The embattled retailer, which is set to shut 90 shops, has appointed KPMG to act as administrators. Formerly owned by Morrisons and called M Local, the supermarket chain was snapped up by Greybull Capital in a deal reportedly worth £25m last year. Morrisons has confirmed [...]
Edi Truell to make bid for Tata UK in the next two days June 29, 2016 Leading City financier Edi Truell has confirmed he will make a bid for Tata Steel's UK assets within the next 48 hours. He told Sky News that, contrary to popular belief, Brexit would benefit the UK steel industry. This is partly due to its improved ability to compete with subsidised German and French industries. Earlier today, Truell told City [...]
City pro Edi Truell says Brexit encouraged him to put together £1 bid for Tata Steel’s UK assets June 29, 2016 Leading City financier, Edi Truell, was encouraged to put together a £1 bid to save Tata Steel's UK assets by Britain's vote to leave the European Union. "Brexit has made the business a lot more attractive to potential buyers… that has certainly enhanced my thinking," he told City A.M. He said Britain would be better able to impose import [...]
UK house prices rose in June – but will Brexit hit house prices? Three experts give their view June 29, 2016 It seems the nation's house buyers were unperturbed at the prospect of a Brexit vote, after new figures showed house prices rose in June – despite warnings by the chancellor. Figures from Nationwide this morning showed prices crept up 0.2 per cent in June, or 5.1 per cent in the year to the end of [...]
First-time buyers beat off Brexit fears and paid record prices for property in May June 29, 2016 Brexit fears didn't put first-time buyers off from mounting the property ladder, as data out today shows they spent record sums on their homes in May. First-time buyers paid an average of £173,282 on their first ever home in May – a record high – according to data from estate agents Your Move and Reeds [...]