Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
UK mortgage approvals fell to their lowest level in 18 months in July – meaning house prices could fall by five per cent next year August 24, 2016 The number of mortgages approved fell to their lowest level in 18 months in July, suggesting house prices could fall considerably by the end of 2017, the British Bankers' Association (BBA) has said. Figures by the BBA showed 37,622 mortgages were approved in July, down from 39,763 in June and 41,620 in May. It's an impressive slide since [...]
Bringing home the bacon: Three ways you can use alternative finance to invest in property August 18, 2016 Property crowdfunding and marketplace lending aren’t for everyone. The former can involve high fees, and you won’t know what your investment is worth without selling it – which can be hard if you’re buying a stake alongside numerous other people. There are risks even with the latter. The property market is very sensitive to the [...]
Mortgage approvals in the UK fell to a year low in June July 29, 2016 Mortgage approvals in the UK fell to their lowest point since May 2015 in the period leading up to the country's referendum on EU membership. According to the Bank of England, 64,766 mortgages were approved in June – down from the 66,722 approved in May. Read more: Everything you need to know about the UK's housing [...]
Mortgage lending fell in June but has “bounced back” since the stamp duty hike according to the British Bankers’ Association July 26, 2016 Mortgage lending dropped in June as banks approved the fewest mortgages since March last year and cut business lending. House purchase approval numbers were 11 per cent lower than in June 2015, but have "bounced back a little" from the numbers seen after the introduction of a stamp duty hike on second homes, the British [...]
Biotech, robots, Fangs – what’s the hottest tech to invest in? July 26, 2016 The sudden craze for mobile game Pokémon Go has brought the spotlight back onto the potential for investors in technology. The game became the fastest-adopted in history following its release two weeks ago, and shares in co-owner Nintendo rose a massive 70 per cent. The share price has since been tempered with a 17 per cent [...]
General Electric has offloaded its French consumer-credit unit to private equity firm Cerberus June 23, 2016 US conglomerate General Electric has moved a step further away from financial services after finding a buyer for its French consumer-credit unit. Private equity firm Cerberus Capital Management has made a binding offer for the business. The sale would represent ending net investment of approximately $4.6bn (£3.1bn) as of the end of the first quarter of 2016. It excludes the platform’s $2bn prime [...]
British Bankers’ Association set to merge with rival trade associations June 9, 2016 British Bankers' Association (BBA), the trade body that was heavily criticised for its role as the administrator of the Libor interest rate benchmark, is expected to be merged with its rival associations. According to Sky News, BBA members are reportedly set to vote in favour of plans to merge the banking trade bodies to form a [...]
Home lending slowed in May as the EU referendum cast a shadow over the property market June 9, 2016 Home lending slowed in May ahead of the EU referendum as political uncertainty cast a shadow over the property market. There were 65,113 house purchase approvals in May, down 1.7 per cent from 66,250 in April – a 12-month low. This decline means house purchased approvals have fallen by more than 10 per cent over [...]
Four of the best bank accounts: Get paid £100 just to change your current account June 8, 2016 Banks are offering customers free cash for switching their current accounts. The UK’s big four – Barclays, HSBC, Lloyds and RBS – have been shaken up by the arrival of newcomers, from online-only “challenger” banks to European giants. Banks are working harder to draw customers, with several offering between £100-£200 to newcomers. “It appears free-in-credit accounts [...]