Taylor Wimpey, Barratt and Persimmon share prices among biggest FTSE fallers as Jefferies slashes ratings January 9, 2015 Housebuilders Taylor Wimpey, Barratt and Persimmon were among the biggest fallers on the FTSE 100 this morning, after broker Jefferies cut its rating across the sector. Shares in Taylor Wimpey – whose rating was cut to "hold" from "buy" – were down 4.9 per cent in lunchtime trading, while Barratt and Persimmon, which were both [...]
Charter Court Financial Services launches new challenger savings bank – high interest and online-only January 7, 2015 Britain is set to get another savings bank as the wave of new firms receiving licences from the regulator continues to grow. Charter Court Financial Services yesterday said it had gained approval from the Prudential Regulation Authority to launch Charter Savings Bank. It will be an online-only savings bank, and its establishment opens up a new channel [...]
Bank of England: Mortgage approvals fall to 17-month low January 2, 2015 The number of mortgages rubber-stamped by banks dropped again in November, although by less than analysts had expected. Nevertheless, the figure is a 17-month low, underlining the trajectory of the market. During the month, banks approved 59,029 mortgages, down from 59,511 in October, but above the 58,500 analyst consensus. The fall has been a [...]
UK house price growth slows again: Can stamp duty save the market in 2015? December 30, 2014 We know the drill by now – slowing house price growth in many areas as demand wanes and the murmurings about a base rate rise reflect the logic that no matter what, it’s getting closer. Why exactly demand is waning remains something of a mystery (more of that later). Nationwide’s figures this month [...]
UK house prices 2014: Which area saw the most growth? December 28, 2014 After a roller-coaster year for house prices the results are in: the London borough of Greenwich is the place for price rises. According to data from Halifax, house prices in Greenwich rose 24.6 per cent over the course of 2014, far above the national average of 8.5 per cent and almost twice that of the [...]
Which were the best and worst investments of 2014? December 22, 2014 This year low interest rates have seen investors who bet on traditional investments receive returns tantamount to chickenfeed. Perhaps we should have given up before we'd all even started? Perhaps not. Investors who plumped for chocolate, property, the US dollar and Aim-listed company Fitbug would have watched as their money practically grew on trees. Conversely, [...]
Eight charts that sum up 2014 December 22, 2014 This year will be remembered for the fragmentation of mainstream politics, Scotland's near exit from the 307-year old union and an economy which the Bank's chief economist Andy Haldane described as "writhing in both agony and ecstasy." What does all that look like? Here are eight charts that sum up the year. (Source: Getty) 1. [...]
In charts: UK house price growth slows but first-time buyers still feel the pinch December 16, 2014 First-time buyers are paying 12 per cent more this year than at the same point last year, according to data from the Office for National Statistics (ONS). The ONS revealed house prices were flirting with stagnation in October, when they increased just 0.1 per cent on a month-on-month basis. After yesterday’s data from Rightmove showed [...]
Stressing out: Britain’s lenders will be ticked off by the Bank of England as new tests bite December 14, 2014 If you happen to stroll down to Threadneedle Street in the early hours of tomorrow morning and find a hive of activity do not be alarmed – it’s just the start of the Bank of England’s inaugural stress tests results. While most of London slumbers at 5am, prudential regulation authority (PRA) officials will be locked [...]
The other FCA concern: Why its new rules for bankers would hurt the UK economy December 8, 2014 IT’LL be a busy week for the Financial Conduct Authority (FCA). Yesterday, the regulator announced a new strategic approach for the organisation, with key personnel changes and a “sharper focus” on the challenges ahead. A review by Clifford Chance partner Simon Davis into the FCA’s handling of an insurance probe earlier this year is also [...]