UK house prices grow at slowest rate for six years October 7, 2019 UK house prices grew at their slowest annual rate in six years in September, a closely-watched gauge has revealed, as Brexit uncertainty continues to smother activity in the sector. Read more: UK house prices: Brexit holds back September growth House prices grew by just 1.1 per cent over the last year, undershooting economists’ expectations of [...]
The hurdles holding back home ownership October 3, 2019 There is good news and bad news when it comes to the numbers of first-time buyers in 2019. The good news is that, despite existing homeowners taking a more cautious approach in this uncertain political and economic climate, sales are up almost six per cent compared to this time last year. However, the positive statistics [...]
UK consumer credit growth slows to five-year low September 30, 2019 British customers increased their borrowing at the slowest rate since 2014 in August, official statistics showed today, in a sign that Brexit uncertainty is weighing on consumer confidence. Read more: Pound staggers as Bank of England hints at interest rate cut The annual growth rate of lending to British consumers continued to slow in August, [...]
Thomas Cook: Former workers ‘will not receive pay packets as usual’ on Monday September 24, 2019 Thomas Cook staff have been told they will not receive their wages as usual on Monday, according to union sources, after the travel giant went bust yesterday. The 178-year-old firm collapsed under the weight of a £1.7bn debt pile early yesterday morning, after weeks of frenzied attempts to negotiate a rescue deal with its lenders. [...]
All you need to know about shared ownership leases September 23, 2019 The legal side of buying a home can be daunting, especially for first-time buyers – but property solicitors and conveyancers are available to help. Lesley Price, head of shared ownership at Lawcomm Solicitors offers her tips for making sure you get solid legal advice, and have a good understanding of the terms of your lease. [...]
PPI costs account for over half of all conduct and litigation charges at UK banks September 16, 2019 Costs from the mis-selling of payment protection insurance (PPI) has accounted for more than half of all litigation and conduct charges faced by Britain’s biggest banks in recent years. Moody’s Investors Service has said that PPI was the largest single source of conduct and litigation charges from 2011 to the first half of 2019, as [...]
UK house prices rise at fastest rate since April, finds Halifax September 6, 2019 UK house prices climbed 1.8 per cent higher in August compared to the same time last year, Halifax’s House Price Index revealed today. That is the fastest rate of growth since April’s 2.6 per cent increase, Halifax’s figures showed. However, revisions to modernise Halifax’s measure means previous lofty growth of 4.1 per cent in July [...]
Meet the 23 fintech startups on Tech Nation’s latest growth programme September 5, 2019 London startups dominate the list of 23 fintechs that have joined government-backed Tech Nation’s 2019 growth programme. Sixty per cent of the new cohort of financial technology firms hail from the capital, while 40 per cent boast at least one female co-founder, Tech Nation revealed today. Read more: Fintech is all the rage, but is [...]
Mortgages, pensions and other savings products are not designed for self-employed workers – here’s what needs to change September 4, 2019 A growing number of us are choosing to go it alone. According to recent figures from the Office for National Statistics, the number of self-employed workers is now nearing the five million mark. That’s around 15 per cent of the UK workforce, and a million more people than the same period in 2009, with London [...]
Mortgage approvals hit two-year high while consumer credit growth remains stagnant August 30, 2019 Mortgage approvals for July hit a two-year high according to official data released on Friday. The Bank of England data revealed that lenders approved 67,306 mortgages last month, up from 66,506 in June. Read more: Londoners pay highest UK house premium to live closer to a station The housing market has endured a slowdown since [...]