Why bank data transparency could lead to a better functioning market December 18, 2013 FEW would find it hard to spot the difference between Stoke Newington and Salford. It’s certainly more than 200 miles that divides the North London district and the regenerating Manchester borough, now home to the BBC’s MediaCityUK. But earlier this week, banks published figures showing that both these places are hotspots for small and medium-sized [...]
Mortgage debt leans on south east of England December 17, 2013 LONDON and the south east of England make up nearly half of Great Britain’s outstanding property loans, as new figures show how the region dominates the mortgage market. London and the south east have £388.7bn of outstanding mortgage debt, 43 per cent of Britain’s £891.4bn total lending. The capital alone holds £227.3bn, more than a [...]
Aldermore raises another £40m ahead of expected London float December 16, 2013 CHALLENGER bank Aldermore yesterday sold a £40m stake to two hedge funds, worth roughly nine per cent of the lender. Lansdowne Partners paid £10m, valuing its stake at around two per cent. The fund is a major investor in the financial services sector, with around $10bn (£6.1bn) in assets under management. Meanwhile Sky News reported another [...]
Ireland’s leader hails the end of €85bn bailout December 15, 2013 IRELAND’S exit from its international bailout has restored national pride and set the stage for a swift recovery, Prime Minister Enda Kenny said in a televised address yesterday to mark the end of three years of economic policy dictated from abroad. The first Eurozone country to leave a bailout, Ireland’s exit has been hailed by [...]
The pair taking peer-to-peer to property December 15, 2013 Annabel Palmer talks with lending platform founders Anthony Fane and Graham Wellesley THE BURGEONING peer-to-peer (P2P) lending industry could transform the personal loans market. It is currently worth £550m in the UK, but some experts expect that to increase to as much as £1bn by 2016. One of its newest entrants is Wellesley & Co, [...]
2013 sees mortage lending rise by a quarter as market warms December 12, 2013 MORTGAGE lending rose by nearly a quarter in the 12 months to October, as prices and activity in the housing market begin to climb again for the first time since the financial crisis. According to figures released by the Council for Mortgage Lenders (CML) yesterday, lending for house purchases rose 24 per cent in the [...]
Mortgage lending soars. But will it all end in tears? December 12, 2013 Lending to first time buyers rose dramatically in October, according to the Council of Mortgage Lenders. First time buyers advanced 26,800 loans in October, the largest number of loans in a monthly period since November 2007. Strong buyer interest is strengthening activity in the housing market but limited supply remains a major problem. House prices [...]
City Moves for 11 December 2013 | Who’s switching jobs December 10, 2013 Colliers International The real estate services firm has recruited Andrew MacKenzie as a consultant in its retail team. He was most recently chief executive of Jaeger. MacKenzie has previously held senior director positions at Allders, First Restaurant Group and Matisse Holdings. Towry The wealth management firm has hired Mehdi Douali as an analyst in its [...]
Challengers sign up to mortgage scheme December 5, 2013 CHALLENGER banks Aldermore and Virgin Money became the latest lenders to sign up to the Help to Buy guarantee scheme yesterday. The pair join lenders like RBS and Lloyds in offering the products, under which the government guarantees up to 20 per cent of the mortgage for home buyers with a small deposit. They will [...]
What does the chancellor’s budget mean for you? December 5, 2013 Catherine Gannon, 51Managing director of law firm GannonThe business is performing extremely well but that is thanks to investments: profits are up but the cost of living has increased, making Catherine feel less well off. She lives with two children, aged 11 and 13, in her own home and holds investment properties. She doesn’t have [...]