Jet Airways’ future hangs in the balance as it fails to secure emergency funding from lenders April 15, 2019 Troubled airline Jet Airways has failed to secure emergency funding from its lenders, forcing it to extend the cancellation of its international flights. In a letter to staff, Jet Airways chief executive Vinay Dube said flights would be cancelled until Thursday 19 April. "Please note that the current status of our engagement with the lenders and [...]
Jet Airways pilots call for Indian PM to intervene as airline grounds all international flights April 15, 2019 Pilots at the troubled airline Jet Airways are protesting outside their company headquarters as the carrier announced it was grounding all international flights. Employees of the Indian carrier, which is straddling a debt pile of more than £900m, gathered outside its headquarters and demanded that the Prime Minister, Narendra Modi, intervene. One pilot told the BBC: [...]
Lloyds Bank stars as FTSE 100 rockets in Q1 April 9, 2019 By Graeme Evans from interactive investor. After a great first quarter for stock markets, we assess the best and worst blue-chips of 2019 so far. It’s been a storming start to 2019 for the FTSE 100 index, with popular interactive investor stocks including Lloyds Banking Group (LSE:LLOY), Next (LSE:NXT) and Tesco (LSE:TSCO) among those on [...]
UK house prices drop in March amid Brexit uncertainty after shock rise, says Halifax April 5, 2019 UK house prices grew 2.6 per cent year on year in March, but fell compared to the month before, according to data released today. The value of the average UK home hit £233,181 last month, after growing 1.6 per cent between January to March compared to the three months to the end of December. Read [...]
UK construction sector shrinks for second consecutive month April 2, 2019 Britain’s construction sector contracted in March for the second month in a row, it was revealed today, as a slowing commercial market and Brexit uncertainty weighed on the sector. The construction purchasing managers’ index (PMI) stood at 49.7 in March compared to 49.5 in February, the first back-to-back fall in output since August 2016. A score of [...]
City watchdog says it could amend rules to rescue ‘mortgage prisoners’ March 26, 2019 City watchdog the Financial Conduct Authority (FCA) said today it could change its lending rules to help so-called mortgage prisoners switch to more affordable deals. Mortgage prisoners are homeowners, often paying expensive rates, who are unable to switch deals despite being up-to-date with their mortgage payments. The regulator is proposing to amend its responsible lending [...]
Mortgage finance firm Lendinvest taps three banks for £500m London float March 25, 2019 Online property finance marketplace Lendinvest has chosen three banks to lead its planned £500m float on the London Stock Exchange this year. It is understood Lendinvest, which provides funding for property investors, developers and landlords, has tapped Goldman Sachs and Barclays as joint global coordinators. Read more: Mortgage finance hub Lendinvest targets £500m London listing [...]
UK house price growth hits six-year low as experts warn of ‘Brexit downward spiral’ March 20, 2019 London house prices fell 1.6 per cent in the year to January, official data revealed today, as experts warned a mix of Brexit uncertainty and the death of buy to let are hurting the value of homes. The sharp price drop in the capital's housing market meant overall UK house prices rose just 1.7 per [...]
Property Legal Q&A: We believe our new build flat should be ready in three months’ time and have just been advised our mortgage offer has expired. What should we do? March 15, 2019 There are a few issues for you to consider. You do not say whether you have received formal notification from the developer requiring you to complete in three months. Usually, a contract for the purchase of a property not-yet-built will contain a procedure stating that completion is on notice i.e. the developer will notify you [...]
Mortgage finance hub Lendinvest targets £500m London listing March 14, 2019 Online property finance marketplace Lendinvest has reportedly appointed advisers for a potential £500m float. Lendinvest has appointed corporate finance firm Lazards to advice on a listing, Sky News reported. It is set to appoint a syndicate of banks for a float that could happen as soon as this year. Sky reports that the banks are [...]