Businesses need alternate ways to access cash September 15, 2011 REGIONAL DIRECTOR, GE CAPITAL ANY review of economic data at the moment will confirm that the outlook for UK business remains uncertain. That said, there is still evidence that growth is on the agenda for many businesses in London and activity in the transactions market is increasing. This includes interest from both private equity and [...]
Economic uncertainty keeps housing market weighed down during August September 12, 2011 THE UNSTABLE economic outlook kept the UK’s housing market subdued last month, a survey published this morning suggests. The average number of house sales per surveyor fell to 14 in August, the Royal Institution of Chartered Surveyors (RICS) has found – “taking transactions back to June 2009 levels”. Nearly eight in 10 surveyors reported “general [...]
Housebuyers struggle to get loans in London September 8, 2011 HOUSEBUYERS across the country were buoyed by higher levels of purchase approvals in August, the surveyors’ group E.surv said yesterday. Approvals were up 4.3 per cent on August 2010 and hit a 15-month high. However, Londoners missed out on the boost, with approvals dropping by 10 per cent compared with July’s figure. That is because [...]
Russian bank pounces for Austria’s VBI September 8, 2011 RUSSIAN lender Sberbank has snapped up Austrian multinational Volksbank International (VBI) in its second multi-million euro purchase of the year. An adviser on the deal said that it provides an example of how Western European banks are missing out on growth opportunities due to being embroiled in the region’s debt crisis. At a stroke, the [...]
Redrow beats forecasts in profits surge September 8, 2011 HOUSEBUILDER Redrow has posted better than expected pre-tax profits, thanks to a 14 per cent rise in revenues, but warned of a tough outlook for the property market. The Wales-based company posted a pre-tax profit of £25.3m in the 12 months to the end of June, compared with £700,000 the year before, beating a consensus [...]
Banks face $200bn US subprime suit September 4, 2011 LENDERS were dealt a heavy blow on Friday as a US federal agency filed 17 lawsuits against banks for allegedly mis-selling securities based on mortgages in the run-up to the financial crisis. Shares in Bank of America, the worst-hit, tumbled more than eight per cent on the news. The Federal Housing Finance Agency, which oversees [...]
STEVENAGE, HERTS September 1, 2011 SWALE CLOSE Price: £239,995 This three-bedroom semi-detached house is located in a quiet cul-de-sac and within the sought-after Great Ashby area. It offers ample space since it is spread across three floors and has a large conservatory extending from the back. Contact: Vincent Giddings on 01438 960 010 or go to www.vincentgiddings.co.uk JACKDAW CLOSE Price: [...]
London’s rent continues to edge upward August 31, 2011 STRONG demand and weak supply continues to hike up London rents, with many young people struggling to get a step onto the property ladder. “Rental growth in London and the south has outperformed the rest of the country, though all regions have seen a pickup in rents,” the Royal Institution of Chartered Surveyors (RICS) said [...]
British mortgage sales decline across the board August 31, 2011 MORTGAGE sales in the year to April sank to their lowest rate since the Financial Services Authority (FSA) began gathering the figures in 2005, it emerged yesterday. “Overall, mortgage sales declined by seven per cent from 2009-10 to 2010-11,” the FSA said. The decline was across the board, with sales of mortgages to first-time buyers, [...]
House price slump is already upon us August 30, 2011 HOUSE prices remain overvalued in Britain, locking out many aspiring buyers. Of that there is no doubt. But it is also the case that average prices have fallen far more than is usually understood; the single biggest reason why so many younger people cannot enter the market is because they have to put down much [...]