Button down on Sepang bid March 30, 2010 WORLD champion Jenson Button, fresh from a superb triumph at the Australian Grand Prix, has moved to dampen expectations ahead of this weekend’s race in Malaysia. The Englishman’s cunning early switch to slick tyres saw him sweep to a first victory of the season at Albert Park on Sunday. It also lifted Button to third [...]
House prices rise but double dip fears persist March 30, 2010 HOUSE prices managed to rise 0.7 per cent in March on the previous month, mortgage lender Nationwide reported yesterday. However, the gain did little to dispel fears of a double-dip in the housing market as buyers exercise caution ahead of the election. Martin Gahbauer, chief economist at Nationwide, said: “The last two months are consistent [...]
Mandelson to create a Post Office bank March 28, 2010 LORD Mandelson will turn the Post Office into a “People’s Bank” if Labour wins the general election. Key to the initiative is a potential deal with RBS and Santander to allow the banks’ customers to access the new Post Office accounts, and its subsidised offers. Negotiations are underway as the government seeks to ensure at [...]
Labour sees seats boost post-Budget March 28, 2010 LAST week’s Budget might have got a kicking form most in the City, but spread betters continue to short David Cameron’s Conservative party. “This is the first time that Labour’s popularity has jumped after a budget since Gordon Brown became prime minister,” says Chris Shillington from Extrabet. For the Conservatives to win an outright majority [...]
SPREAD BET GURU March 28, 2010 JOSHUA RAYMOND MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, with the EU and IMF finally agreeing a bailout for Greece, what is the focus now for the euro? A. Make no mistake, the constant uncertainty within the Eurozone concerning the spiralling deficit problems of Greece and the other so-called Pigs nations has been a major factor [...]
City rates the Budget 3.8 out of 10 March 25, 2010 ALISTAIR Darling must try harder. That was the verdict of our panel of City and business professionals, who gave the chancellor’s Budget on Wednesday a score of 3.8 out of 10. The City A.M./PHI Panel, which has been specially recruited to represent London’s financial and business community, was asked to score some of the measures [...]
Foreigners to avoid Darling’s stamp duty March 25, 2010 WEALTHY foreigners will avoid paying Alistair Darling’s latest stamp duty hike on properties worth over £1m at an opportunity cost of tens of millions to the Treasury’s coffers, it emerged yesterday. Special Purpose Vehicles (SPVs), which are set up offshore for the purpose of holding property, own a large amount of the UK’s high-end estates. [...]
Cheats may cash in on home relief March 25, 2010 THE decision to scrap stamp duty for first-time buyers purchasing homes under £250,000 risks becoming a “charter for cheats”, critics suggested yesterday. Although the housing industry has welcomed the move because it should boost a flagging market, there are fears that it will be hard to police. Some institutions, such as the Council for Mortgage [...]
Light at the end of the tunnel, but buyers should stay cautious March 25, 2010 IT’S the perennial dinner party question: what will happen to house prices in the coming year? With a hung parliament on the cards come May and economists divided over when the Bank of England will decide to raise interest rates, those who are looking to move property remain understandably nervous. Mortgages are still hard to [...]
BUYING March 25, 2010 Camilla Dell MANAGING PARTNER AT BLACK BRICK Q.Dear Camilla, I am looking to sell my house in the near future and I was wondering how the property will be valued. A.The process of valuation in the current property market has become a very tricky business. Traditionally, valuers have depended, at least partially, on sale prices [...]