Shifting stamp duty burden would hurt first-time buyers August 23, 2019 It was an interesting idea – and sounded great for first-time buyers. On Saturday, Sajid Javid appeared to be considering switching the cost of stamp duty land tax (SDLT) from the buyer to the seller in England and Northern Ireland. On Sunday, in a tweet, he made it clear that he did not support the [...]
OneSavings and Charter Court post higher loan books as merger draws near August 21, 2019 OneSavings Bank and Charter Court Financial have both reported higher loan books for the first half of this year as they gear up for a £1.6bn tie-up aimed at creating a leading specialist lender. Shares in both groups tumbled by roughly five per cent in morning trading, as lower net margins and Brexit-related uncertainty in [...]
Dealing with the debt conundrum August 20, 2019 Debt remains a word shrouded with negative connotations. And despite how commonplace it is, people are still strangely reluctant to talk about it openly. In reality, debt should not be seen as a bad thing. It is a vital financial instrument for enabling people to achieve major life goals and lead the lifestyles they want. [...]
PwC awarded £16.5m contract to manage Northern Rock remaining assets August 16, 2019 PwC has been awarded a contract worth £16.5m to manage the government’s remaining assets in Northern Rock. It comes 12 years after the accountancy firm was criticised for being complacent in its audits of the failed lender, which collapsed in 2007. Read more: Moody’s forecasts fast growth for Islamic banking in next five years PwC [...]
Why you should be worried about the rise of the Bank of Mum and Dad August 16, 2019 The yearning to own one’s home is as British as a piping hot cup of tea, cricket, or a traditional roast dinner, and the UK’s rates of ownership-occupancy have traditionally been among the highest in Europe. Unlike many traditions, this desire hasn’t been dented by the complexities of modern life either. One recent survey revealed [...]
Rabobank profits fall by a quarter as lender hit with charges August 15, 2019 Pre-tax profit at the Dutch lender Rabobank fell by 26 per cent in the first half of the year, the company said today, after it was hit with impairment charges and struggled with low interest rates. Read more: Four lenders awarded £40m from RBS banking competition funds The figures Rabobank’s operating profit before tax dropped [...]
UK house prices suffer surprise July fall as housing market ‘treads water’ August 7, 2019 UK house prices continued to “tread water” in July as they slipped 0.2 per cent month on month, Halifax warned today. However, annual growth rose 4.1 per cent thanks to the housing market’s poor performance in 2018, the bank’s latest house price index found. Russell Galley, managing director of Halifax, said: “The average UK house [...]
Avoid these 8 financial mistakes in your marriage August 1, 2019 For better, for worse, for richer, for poorer – until death do us part. Sadly, with money fights being the second leading cause of divorce behind infidelity, many of us do not adhere to this marriage vow. Read more: What are banks doing to help survivors of financial abuse? Few individuals consider financial compatibility before [...]
Government urged to act to secure ‘home ownership dream’ July 31, 2019 The government has been urged to act to help first-time buyers as new forecasts revealed that by 2026 just a quarter of people aged between 25 and 34 will own their own home. A report by Santander found that home ownership within that age bracket will have dropped from 55 per cent 20 years ago, [...]
From energy to insurance: How Open Banking could fix the loyalty penalty headache July 29, 2019 You don’t get to be Prime Minister without having a few political gifts. One of Theresa May’s was her ability to spot the issues that people cared about – even if she found it harder to come up with effective ways of improving them. That was why her maiden speech outside Downing Street was so [...]