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 [...]
UK house prices remain stagnant as no-deal Brexit looms August 30, 2019 UK house prices grew at less than one per cent for the ninth month in a row in August, Nationwide figures revealed today, prompting calls for Boris Johnson to slash stamp duty. The value of homes did not grow between July and August, Nationwide’s House Price Index found. Read more: London commuter belt house prices [...]
UK mortgage approvals hit highest level in two years August 27, 2019 British high street banks approved the highest number of mortgages for house purchases in over two years in July, according to financial services body UK Finance, in a sign of life in a housing market which has struggled under the weight of Brexit. Read more: London house prices continue to slide under Brexit pressure There [...]
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 [...]