Opinion: Rightmove’s housing index shows that London may have fallen, but it’s sunny in the Shires August 18, 2016 The latest housing index from Rightmove has caused a stir, revealing that prices have hit their lowest point since November and have dropped 1.2 per cent nationwide. Londoners in particular seem hardest hit with the average price falling 2.6 per cent. It’s very easy to put the entire blame on Brexit and increases in Stamp Duty, but [...]
Bringing home the bacon: Three ways you can use alternative finance to invest in property August 18, 2016 Property crowdfunding and marketplace lending aren’t for everyone. The former can involve high fees, and you won’t know what your investment is worth without selling it – which can be hard if you’re buying a stake alongside numerous other people. There are risks even with the latter. The property market is very sensitive to the [...]
Saving no longer as easy as 1, 2, 3: Santander chops interest rate on top account – and now Lloyds is considering a rate change too August 15, 2016 Santander has today confirmed it is slashing interest rates on its popular 1,2,3 account to 1.5 per cent, while Lloyds has revealed it is mulling its options. Santander's change in rate will be effective from 1 November, and it is also making some changes to the overdraft rates. In a statement issued this morning, the bank [...]
Bovis Homes Group reports strong revenue and profit growth but states it is too early to tell impact of EU referendum August 15, 2016 Bovis Homes Group struck a bullish tone in their half year results, with growth across a range of metrics. The catch? It's too early to tell the impact of the EU referendum. Its share price fell by more than two per cent on the news. The figures Bovis Homes Group posted revenue of £412.8m for the [...]
The number of mortgages in arrears and repossessions fell in the last quarter August 11, 2016 The number of mortgages in arrears continued to fall in the second quarter, reaching its lowest level since records began. According to the Council of Mortgage Lenders (CML), at the end of June there were 92,500 mortgages in arrears of at least 2.5 per cent of the total mortgage outstanding – down from 95,900 at [...]
Aldermore becomes the latest challenger bank to shrug off Brexit with 50 per cent boost to profits August 11, 2016 Aldermore has today reported a huge boost to its bottom line, while revealing it feels it can keep on smiling throughout the Brexit uncertainty. The figures The challenger bank reported profit before tax of £59m for the first half of 2016, up 50 per cent from the prior year's £40m. Meanwhile, underlying profit before tax increased to £63m, [...]
First-time buyers secured more mortgages in June than at any other point since August 2007 August 10, 2016 First-time buyers boosted mortgage lending in June as tax changes designed to deter buy to let landlords took effect. June mortgage lending was up by 29 per cent month-on-month, according to lending data from the Council of Mortgage Lenders (CML). Mortgage lending was up by 12 per cent compared to the same month last year. First-time [...]
Vendors trying to shift property after the Brexit vote have cut prices by nearly 10 per cent in some parts of London August 10, 2016 Vendors trying to shift their property in the aftermath of the Brexit vote and stamp duty changes are cutting prices by nearly 10 per cent in some parts of London. Data from Zoopla shines a light on just how many houses have had their prices reduced, and by how much. Read more: Here's everything you need to [...]
Rents continued to climb in July – but the rate of growth is slowing August 9, 2016 Rents kept climbing in July – but the rate of growth is cooling in the second half of the year. According to data from Homelet, rents agreed on new tenancies in the UK over the past three months increased by 2.3 per cent as compared to the same period last year – excluding London. Read [...]
This bank has already passed on the interest rate cut to some of its mortgage customers August 5, 2016 There had been concern banks would take a while to pass yesterday's cut in interest rates on to customers – but it seems those fears were unfounded, after one major lender said it was cutting the rate of standard variable rate mortgages by 0.25 per cent. NatWest – which is owned by RBS – said [...]