Find your new home by the riverside at Leaside Lock, East London’s newest neighbourhood October 18, 2021 A new collection of contemporary studios, 1, 2 & 3 bedroom apartments in Bromley-by-Bow is launching 13th November, available with the London Help to Buy: Equity Loan* scheme on selected plots. As the prices in nearby Bow, Hackney Wick, Bethnal Green and London Fields have dramatically risen in recent years, many first-time buyers are finding [...]
NatWest to launch first eco-friendly loans as part of new £100bn green funding pot October 13, 2021 NatWest said this morning it plans to bring £100bn to green funding to the market by the end of 2025 and the City bank will also roll out its first eco-friendly business loans. The bank stressed its strategy is to help small firms capitalise on the drive to tackle climate change. The pledge sees the [...]
Perpetual debt is already here October 12, 2021 “Be still indebted to somebody or other, that there may be somebody always to pray for you, [. . .] fearing, if fortune should deal crossly with you, that it might be his chance to come short of being paid by you.” François Rabelais, Gargantua and Pantagruel, Book III Pundits worldwide are debating what to do with [...]
UK’s big five banks set to pay out £7bn in dividends as their earnings soar October 10, 2021 The UK’s largest banks are preparing to hand out a collective £7bn in dividends this year, on the back of earnings hitting their highest level for the sector since 2008. The £7bn payout would be more than double the £3.3bn handed out in dividends by the UK’s big five in 2020. The UK’s five largest [...]
End of furlough: ‘Time for the UK economy to put its big girl pants on’ September 27, 2021 This week, the government’s £70bn furlough support scheme comes to an end. The end of the Job Retention Scheme, or furlough, will force organisations to make decisions regarding the future of furloughed employees. City A.M. sought the views of a number of small business owners about whether now is the correct time to remove the [...]
London property: First-time buyers make a comeback September 20, 2021 Nearly three in every ten home sales went to first-time buyers last month, the highest proportion in over a year, according to new data from various large estate agents. It marks the highest percentage since June 2020, when 29 per cent sales went to people getting on the property ladder, according to estate agents’ body [...]
Property: ‘Best market in two decades’ but lack of stock spooks sellers September 14, 2021 The property market is in the best shape to sell in more than two decades, OnTheMarket’s boss has said, but sellers are being spooked by the lack of stock and the rapid rate at which homes are being snapped up. Some 73 per cent of UK buyers felt confident that they would purchase a property [...]
Exclusive: Homeowners borrow more than ever as remortgage applications jump by 176 per cent September 1, 2021 Homeowners across the UK are now borrowing more money from mortgage lenders than ever before to fund home improvements, according to new figures shared with City A.M. this morning. According to mortgage broker Mojo Mortgages, the average amount of money being applied for by existing homeowners to fund renovation projects has increased by just over £13,000 [...]
60 per cent of all properties sold in London hit by down valuations August 31, 2021 Nearly 400,000 UK property transactions have been down valued in the last year alone, according to research by London property agent Benham and Reeves, shared with City A.M. this morning. At 59 per cent, London is home to some of the largest levels of down valued homes of all UK areas and it also ranks third [...]
Profits more than double at OneSavings Bank August 20, 2021 OneSavings Bank’s profit surged in the first six months of the year driven by a sharp uptick in lending activity, according to results published today. The specialist lender posted a 123 per cent rise in pre-tax profits in the year to June 2021 to £221.9m, up from £99.3m in the same period last year. The [...]