UK housing crisis: Build to Rent investment to triple by 2020 December 5, 2015 Investment in Build to Rent will triple to £50bn by 2020, helping it swell from two to five per cent of the private rental sector, and providing minor relief to the UK's growing housing crisis. It's pertinent as the number of first time buyers and young homeowners are declining, at a time when private rental stock is [...]
Volkswagen UK market share plummets after emissions scandal as new UK car registrations rise December 4, 2015 Volkswagen sales in the UK fell 20 per cent in November, compared with last year, figures by the Society of Motor Manufacturers and Traders (SMMT) have shown – while the number of new cars sold in the UK rose. The embattled carmaker, which has been hit after it emerged software installed in some of its diesel engines allowed [...]
Growing personal debt is a ticking time bomb and trouble will come when rates and inflation start to creep up December 3, 2015 It’s no surprise that we’re borrowing like there’s no tomorrow; prices are low, credit is cheap and coupled with wage growth you could say there’s a feeling of positivity in the air. Make the most of this sweet spot now; we’re watching a ticking time bomb and trouble is likely to be on the horizon. [...]
Less than 10 per cent of savings providers are offering the Help to Buy Isa – with just 12 on board so far December 2, 2015 The Help to Buy Isa launched without much ceremony yesterday – so no wonder the number of savings providers offering the scheme, which provides a government bonus for first-time buyers, is being seen as a bit of a let-down. Research from Savings Champion suggests just 12 lenders have so far go on board with the government scheme, [...]
Government housing minister Brandon Lewis has admitted defeat in the face of the housing crisis: Generation Rent can’t make a “judgement call” about where they live December 2, 2015 The government has admitted defeat in the face of the London housing crisis. At least, that was the conclusion I drew yesterday when the housing minister told people hoping to stay in London to make “a judgement call about what you can afford and where is right for you”. By being “up front about the [...]
The Help to Buy Isa for first-time buyers launches today: Here’s everything you need to know, including which banks and building societies will provide it and how much you can borrow December 1, 2015 It was now many moons ago that George Osborne introduced the Help to Buy Isa (Help to Buy-sa to its friends), which will give savers £50 for every £200 they save, up to £12,000. Nine months after it was first announced, the scheme is finally ready to be unveiled, with the launch slated for today. In other words: first-time [...]
George Osborne’s Big Red Book is securing UK prosperity while Maoism gathers dust November 30, 2015 George Osborne set out last week how this government is fulfilling its manifesto promises: delivering financial security on the back of economic growth, and national security in an uncertain world. Coupled with plans to make markets work better for families and firms – like increasing competition so bills come down – he spoke to the [...]
Top tips for first-time buyers in London November 30, 2015 Getting on the property ladder is hard work, especially if you’re looking to buy your first home in London. According to Savills, the average deposit for a first time buyer is currently 68 per cent of their household income, but that rises to 177 per cent in London. But with a couple of helpful announcements [...]
London property prices: Luxury homes are so expensive in London, the uber-rich are going bargain hunting in New York November 30, 2015 Luxury homes in London cost "double" those in New York, new research has suggested – meaning super-wealthy Britons are increasingly going bargain hunting in Big Apple. The Transatlantic Wealth Report, by upmarket British estate agent Beauchamp Estates and New York equivalent Leslie J Garfield, found the value of luxury homes in London's most exclusive areas is typically [...]
Autumn Statement 2015 buy-to-let advice for landlords: After the chancellor’s stamp duty hike, what should investors do? November 27, 2015 The chancellor's announcement of a three per cent stamp duty levy on non-primary residences – specifically buy-to-let investments and second homes – caught many by surprise. This change is an incredibly blunt instrument to deal with a complex set of housing market issues. In principle, it will reduce the competition between first-time buyers and investors for many [...]