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. [...]
Proptech startup Habito lands £18.5m to make mortgages digital in series B led by Atomico September 3, 2017 A fintech startup focused on making mortgage applications easier has bagged millions more in funding from top investors. Atomico, the venture fund set up by Skype founder Niklas Zennstrom, led the £18.5m series B round with existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (ad)Ventures also participating. It brings total funding for the startup – [...]
Proptech startup Habito lands £18.5m to make mortgages digital September 3, 2017 A fintech startup focused on making mortgage applications easier has bagged millions more in funding from top investors. Atomico, the venture fund set up by Skype founder Niklas Zennstrom, led the £18.5m series B round with existing investors Ribbit Capital, Mosaic Ventures and Revolutionary (ad)Ventures also participating. It brings total funding for the startup – [...]
Exorbitant interest rates have turned student loans into a ticking debt bomb September 1, 2017 Today the interest rate on student loans rises from 4.6 to 6.1 per cent. By comparison, the Bank of England held the base rate at 0.25 per cent last month. The highest level of interest you can get on a standard easy-access cash Isa is 1.03 per cent. You can take out a 10-year fixed [...]
Mortgage approvals jump to 16-month high while consumer credit growth slows, Bank of England figures show August 30, 2017 Mortgage approvals for house purchases jumped to a 16-month high in July, new figures from the Bank of England released today show. Last month, some 68,689 mortgages were approved, up from 65,318 in June and a seven-month low of 65,140 in April. Howard Archer, chief economic adviser for the EY Item Club, noted that July’s [...]
The Bank of Mum and Dad: Should you gift or loan? August 17, 2017 Young adults are feeling the pinch. Not only are property prices shockingly high, but student debt and stagnant wages are putting a strain on savings, making it difficult for many young people to even fathom the prospect of affording a house. Research from the Resolution Foundation shows that millennials are the first generation ever to [...]
How to avoid paying the loyalty penalty on your mortgage August 2, 2017 Whether we think of family, friends or our pets, most of us see loyalty as a positive attribute to have. But for homeowners, it can be quite the opposite, as new evidence suggests many of us are forking out thousands of pounds every year in excessive mortgage fees by sticking with one lender. A [...]
The global financial crisis 10 years on: six charts that tell the story July 31, 2017 It is hard to believe but it is 10 years since the start of the global financial crisis. Triggered by a collapse in the US housing market it caused the deepest recession in living memory and the near-collapse of the financial system. Banks failed, government institutions were bailed out, stockmarkets crashed and countries had to [...]
Fears rise on £200bn debt pile as Moody’s warns Britons may be borrowing too much July 31, 2017 Rising levels of household borrowing at a time of macroeconomic weakness will cause Britons to struggle with loan repayments, according to influential ratings agency Moody’s, as consumer debt rose back over £200bn. Moody’s has changed its collateral outlook on two of the UK’s structured finance sectors to reflect the declining ability of Britons to make [...]