HSBC launches lowest ever fixed-rate mortgage at 0.94 per cent July 6, 2021 HSBC UK has launched a fixed-rate mortgage at 0.94 per cent, its lowest fixed-rate mortgage ever, but the product will only be available to those with a 40 per cent deposit. The lender will charge a £999 fee to access the mortgage, or alternatively, people can take out a ‘fee-saver’ version with no product fee [...]
‘Busiest six months in 57 years’: Stamp duty holiday causes pandemonium in property sector July 1, 2021 The last week has seen chaos for buyers trying to beat the stamp duty holiday deadline, and long hours and stress for all other parties involved in the process. This week homebuyers were in a race against time to beat the deadline on the most generous stamp duty holiday, which ended at midnight last night. [...]
House prices: Growth rates surge across UK, with London homes averaging £509,000 June 29, 2021 UK house prices: Growth rates surge across UK, with London homes averaging £509,000
Consumer credit borrowing exceeds repayments for first time since August June 29, 2021 Households borrowed more in consumer credit than they repaid in May for the first time since August, according to Bank of England data published on Tuesday. Net consumer credit was £280m in May, reversing a trend seen throughout the majority of the pandemic as households reined in spending whilst the economy was shuttered. The positive [...]
In centralised finance we distrust June 27, 2021 Crypto AM columnist Dr Chris Kacher talks about his lack of faith with centralised finance and how BTC can beat the FUD.
Cost of buying first home in London more than doubles over last half century June 26, 2021 Today’s first-time-buyers in London have to pay two and a half times as much for their first home as they did five decades ago, according to new research. A report published by the Resolution Foundation today shows the cost of purchasing a first home with a mortgage in the capital was £212,000 in 1974 – [...]
Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]
Supreme Court rules Grant Thornton owes Manchester Building Society £13.4m June 18, 2021 The Supreme Court has backed a £32m negligence claim from Manchester Building Society against its former auditor Grant Thornton in a landmark ruling that could make it easier to bring claims against professional advisers. The Supreme Court said Grant Thornton had incorrectly told the building society that its accounts could be prepared using a rule [...]
In centralised finance we distrust June 15, 2021 Dr Chris Kacher reflects on the history books and explains his use of metrics as a buying guide to Bitcoin.
Inflation might be the only cure for our bubbly housing market June 8, 2021 House prices in the UK (and many other parts of the world) are soaring, squeezing affordability yet further. Rising inflation looks like the most obvious candidate to prick this bubble. House prices in the UK rose by 10.9% in the year to May. That’s the most rapid growth seen in almost seven years, according to [...]