Bad Christmas: Housebuilder share prices are falling December 28, 2016 Shares in the UK's largest housebuilders fell today, after a profit warning from one, as well as disappointing mortgage figures. Bovis was the biggest faller on the FTSE 250, with shares falling 4.8 per cent to 815.5p in lunchtime trading after it warned on profits, saying it expected to complete on fewer homes than anticipated [...]
Deutsche Bank and Credit Suisse share prices rise after multi-billion pound settlements with US Department of Justice December 23, 2016 Deutsche Bank and Credit Suisse's share prices have risen this morning after the two lenders agreed to multi-billion dollar settlements with the US Department of Justice (DoJ). Deutsche Bank announced it had reached a $7.2bn (£5.8bn) agreement in principle with the US authorities early this morning over the sale and pooling of mortgage-backed securities in the run-up [...]
Deutsche Bank mega fine could be sorted by Wednesday December 19, 2016 Deutsche Bank could enter 2017 with one less item to tick off its to-do list, as it has emerged that a potential mega fine from the US Department of Justice (DoJ) could be settled on Wednesday. In September, it was revealed the German banking giant was facing a penalty of $14bn (£11.3bn) for mis-selling mortgage-backed securities. [...]
City Moves for 19 December 2016 | Who’s switching jobs December 19, 2016 Fitch Fitch has appointed Sean Costello as head of its EMEA corporates banker team. Sean joins from Commerzbank where he was head of loan capital markets within their leveraged finance group. Sean joined Commerzbank in August 2005 from the leveraged loan distribution team at Bank of Scotland and prior to that, NIBC Bank and NatWest Capital Markets. With [...]
Habito founder Daniel Hegarty talks fintech mortgages, bigamy and working above a kebab shop December 19, 2016 Many people have a career change. Before venturing into fintech, Daniel Hegarty, founder of digital mortgage broker Habito, was a professional musician, composing for TV and film and touring internationally. In 2007, he joined a few people trying to work out how to do loans on the internet in real time, in a pre-launch company [...]
Deutsche Bank mulls axing bonuses to pay loans fine December 18, 2016 Deutsche Bank could axe bonuses for some of its senior staff as scrambles to shore up cash to pay a potentially massive fine over toxic US loans. The bank, which has spooked investors in recent months with warnings over lower for longer interest rates and red tape pushing up costs, will not make a decision [...]
Loans to home buyers fell in October December 14, 2016 Loans to home buyers fell by eight per cent in October, despite the amount borrowers are paying towards interest rates hitting a historic low. First-time buyers borrowed £4.5bn, a monthly decrease of eight per cent, and a year-on-year drop of two per cent, according to figures from the Council of Mortgage Lenders (CML). Read more: [...]
Financial watchdog wants to know if the mortgage system is working to the detriment of consumers December 12, 2016 Britain's financial regulator has put the competitiveness of the mortgage sector under the microscope and launched a sweeping review into industry practices. The Financial Conduct Authority (FCA) today announced it wants to focus on whether or not customers are getting the best deal from the commercial arrangements between lenders, brokers and other players. Read more: Remortgaging valuations boom [...]
The FCA is cracking down on peer-to-peer lending and crowdfunding (again) December 9, 2016 It seems like only yesterday the Financial Conduct Authority (FCA) was telling peer-to-peer lenders they must behave more like banks. Now the financial watchdog has proposed tough new rules, which will force crowdfunding and peer-to-peer lending platforms to comply with the same rules as major lenders on mortgage lending, restrict cross-platform investment and make them [...]
Property market predictions 2017: From Brexit to tenant fee bans, we’ve asked London’s biggest real estate agents to look into their crystal balls December 8, 2016 2017 will see the rise of Build-to-Rent in London Mark Collins, chairman at CBRE Residential Throughout 2017, I hope that SME developers continue to be championed and encouraged by local government, as these housebuilders will play a major role in alleviating the housing crisis. Access to land and financial support as well as flexible planning systems [...]