The tech evolution of the mortgage market October 25, 2017 Babylon, 611 BC: the year of the first recorded loan using real estate as security. Written to Mr. Nabu-etir with an interest rate of 11.3 per cent, our ancient ancestors agreed to the financial instrument that survives two and a half thousand years on. Now this loan forms the bedrock of the modern financial system [...]
What will an interest rate hike mean for house prices? October 17, 2017 Inflation hit three per cent in September, adding fuel to the fire for commentators calling for a rate hike. There has been talk of a rate rise for years now, although it hasn’t moved above 0.5 per cent since March 2009. The Bank of England hasn’t increased the rate since December 2007, when it began [...]
Rate rise will not leave challenger banks exposed says Hampshire Trust chief executive Mark Sismey-Durrant as profits surge October 16, 2017 A widely expected interest rate rise from the Bank of England will not leave the specialist lending sector exposed, according to the chief executive of a challenger bank which has seen profits surge in the last year. Hampshire Trust Bank recorded rapid profit and loan book growth in the first half of 2017 said its [...]
The 19 UK towns most at risk of a house price bubble: Cleveland, Blackburn and Blackpool come top October 12, 2017 UK house prices may still be rising, but with the Bank of England on the brink of hiking interest rates, the market may be about to change trajectory. Now, by comparing lending levels with house price rises, new research has listed the UK towns and cities most at risk if lending conditions change. Mortgage broker [...]
London house prices have fallen for the first time in eight years says Nationwide’s house price index for September September 29, 2017 Year-on-year house prices in the capital have dropped for the first time in eight years, according to Nationwide’s latest house price index. Prices in the capital dropped to an average price of £471,761 this month, down 0.6 per cent compared with September last year. That makes London the weakest performing region for the first time [...]
London house prices are still at risk of a bubble, according to this wealth manager September 28, 2017 London’s property market is still firmly in “bubble-risk” territory, one of the UK’s largest wealth managers has warned, as it ranked the capital’s housing market as one of the most vulnerable in Europe. Investors should take caution in the capital’s housing market, UBS Wealth Management said, as it published its Global Real Estate Bubble Index [...]
Global bank fines from financial crisis aftermath could top $400bn by 2020 says report September 27, 2017 Fines for misconduct levied on the biggest banks since the financial crisis by US and EU regulators could top $400bn (£298bn) by 2020, according to a report published today. Authorities in the US and EU have forced the world’s 50 largest banks to pay up $342bn since 2009, according to analysis by consultants Quinlan and [...]
Bank of England to make banks add £10bn buffer to cover consumer credit and warns on Brexit derivatives risk September 25, 2017 The Bank of England today issued its strongest warning yet on the fast-expanding consumer credit sector, with financial stability experts at Threadneedle Street saying banks must hold another £10bn to cover potential losses. Losses across the whole consumer credit sector could reach £30bn – £10bn higher than previous estimates – under the stress test scenario [...]
How world stock markets have performed in the 10 years since the financial crisis September 21, 2017 It is hard to believe that a decade has passed since the start of the global financial crisis. The 10th anniversary of the run on Northern Rock fell earlier this month. But the crisis was already well underway at that stage. It was the August of 2017 when French bank BHP Paribas suspended three funds [...]
Power to the people: Meet the P2P lender that uses a centuries-old way of lending September 21, 2017 Think back to 2001 when the Foot and Mouth epidemic raged across the UK. The outbreak led to the culling of thousands of animals, not to mention the loss of billions of pounds. It certainly took its toll on agricultural, leisure and tourism sectors over the years, and many needed funds to revitalise their business. [...]