Osborne must deliver on challenger pledge December 17, 2015 Two years ago, chancellor George Osborne said that the British banking system was verging on oligopoly – and needed a “reset”. “One of the prices we are paying for the financial crisis is that our banking sector is now dominated by a few big banks,” he said. “I want new faces on the high street. [...]
Getting onto the housing ladder is £2,300 a year cheaper than renting, says Santander December 14, 2015 First-time buyers could save £2,300 a year by getting on the property ladder compared to renting, according to research by Santander Mortgages. The average monthly rent in the UK is currently £995 compared to monthly repayments of £805 for the average first-time buyer household, meaning buyers could save £190 a month, the lender said. In [...]
Bubble fears as average London property hits £600,000 with outer boroughs seeing highest rises December 10, 2015 The average price of a London property is now just shy of £600,000, reigniting fears of a bubble and prompting talk of a market correction. The average London house price was £598,173 in October, 5.6 per cent higher than the same month last year, according to figures released today by estate agents Your Move and Reeds [...]
UK homeowners unprepared for interest rate hike, warns TSB December 9, 2015 UK homeowners are unprepared for an interest rate rise, despite nearly three quarters of borrowers facing an increase in their monthly repayments if the Bank of England votes for a change in the base rate. A survey released today by high street bank TSB found that one of five of borrowers said they have “no [...]
House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
House price growth to slow across the country in 2016 December 3, 2015 ANNUAL house price growth nationally is expected to slow to between 4 per cent and 6 per cent by the end of 2016, according to economists at the Halifax. The slowdown is being blamed on the increasing difficulty in getting on the housing ladder, as well as the looming prospect of an interest rate rise [...]
Autumn Statement 2015 buy-to-let advice for landlords: After the chancellor’s stamp duty hike, what should investors do? November 27, 2015 The chancellor's announcement of a three per cent stamp duty levy on non-primary residences – specifically buy-to-let investments and second homes – caught many by surprise. This change is an incredibly blunt instrument to deal with a complex set of housing market issues. In principle, it will reduce the competition between first-time buyers and investors for many [...]
City A.M. Awards 2015 Business Personality of the Year winner Tony Pidgley, the co-founder of the Berkeley Group has a true rags-to-riches tale November 26, 2015 When it comes to determining the key to his success in life, Tony Pidgley puts it down to a good dose of common sense, a splash of luck and the life lesson his first lorry taught him when he was 15 and the engine blew up. His main means of earning his keep – transporting [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
Nationwide continues run of good form as it reports pre-tax profits up a third November 20, 2015 Nationwide building society continues to benefit from a strong housing market and customers switching current accounts, posting pre-tax profits up by a third. The figures Pre-tax profits for the six months to 30 September rose by 34 per cent to £802m, up from £598 in the same period a year ago. There were more than [...]