Housebuilders have their doubts about government targets May 6, 2016 When the government revealed its target to build one million homes by 2020, plenty of those dreaming of stepping onto the property ladder must have rejoiced. However, a study out today warns that they might have celebrated too soon, as over half (51 per cent) housebuilders believe that the target will not be met, with lack of land, painfully [...]
Adidas tees up and prepares its golf brands for sale May 4, 2016 Adidas has confirmed plans to sell its loss-making golf business after putting it up for review last year. The German sportswear group said it will start seeking out buyers for its TaylorMade, Adams and Ashworth golf brands. However, it plans to keep Adidas-branded golf shoes and clothing, which account for about 40 per cent of the business. "TaylorMade [...]
Barclays has just started offering a 100 per cent mortgage (but bank of mum and dad is still required) May 4, 2016 We all know how well 100 per cent mortgages worked before the financial crisis – but now Barclays has become one of the first lenders since the crisis not to require a deposit from first-time buyers. Well, sort of. The lender said it has made changes to one of its first time buyer mortgages which means borrowers [...]
Top Cat advert might be the top dog for Halifax May 4, 2016 In its new campaign aimed at first time buyers, Halifax has incorporated the cartoon character Top Cat into its television, print and online push. The campaign has been ridiculed in some quarters, particularly on social media. Sharp-witted users have been quick to remind Halifax that Top Cat in fact resided in far less salubrious surroundings [...]
Why are car-makers getting the cold shoulder from investors? Well, why not? May 3, 2016 What is the most unloved sector in the global equity market? First off, you might think of oil, which is beset by huge oversupply imbalances despite the recent bounce inspired in great part by bullish financial speculators. Possibly you might plump for banks, which are seeing their net interest margins scythed by increasingly desperate central bankers [...]
UK house prices: Bank of mum and dad ranks among UK’s top mortgage lenders as parents spend £5bn helping children onto property ladder May 3, 2016 Parents will lend over £5bn this year helping their children get a leg up onto the UK's slippery housing ladder, placing the "bank of mum and dad" firmly in the ranks of the top 10 mortgage lenders in the country, a new report today reveals. The study – by FTSE 100 insurer Legal & General and Cebr, [...]
UK thinks it is “in the throes of a housing crisis”, according to new poll May 1, 2016 By now most are all too aware of the soaring cost of housing, leading to "generation rent" and pushing people outside city centres. But a new poll has revealed the extent to which people are concerned about the housing crisis. According to a poll for the Observer on attitudes to housing, 69 per cent of [...]
Bank of England: Yes, there was a mortgage stampede in March April 29, 2016 The final – and perhaps most definitive – proof that mortgage lending surged in March has been published by the Bank of England this morning, showing just how much tax changes distorted the property market. After a string of industry reports said that investors and landlords rushed to snap up houses before the three per cent [...]
Now generation rent faces financial “time bomb” after managing to jump on the property ladder April 29, 2016 Generation rent hasn't totally given up hope of ever owning their own home – yet, anyway. But as well as the average age of the first time buyer rising to 30.4 years old, there's a new burden for them to shoulder, as worry is shifting to how and when they will pay for it all as they get older. One in [...]
Savings ratio set to hit 50 year low as baby-boomers top savings chart April 29, 2016 The household saving ratio, the percentage of personal savings to disposable income, is forecast to fall to its lowest level in 50 years in 2016, according to a new report. The amount that people are putting aside is set to drop to 3.8 per cent, though this remains higher among older generations. Current savings levels [...]