Airbnb your house: Here’s how much Londoners could be making from the sharing economy July 13, 2016 The sharing economy is growing faster in Britain than anywhere else in Europe. As it has become more expensive to own cars, homes and even electrical equipment, more of us are seeing the advantages of monetising our idle assets. PwC estimates that transactions on platforms in the five biggest sharing economy sectors almost doubled in [...]
Wetherspoon’s boss: Everyone cheer up about Brexit July 13, 2016 All this doom-mongering has become too much for Wetherspoon's boss Tim Martin, who finally came out and said it this morning: everyone needs to cheer up about Brexit. Martin, who in the run-up to the referendum was so passionately pro-Brexit he had special beermats printed, hit back at "unprecedented and irresponsible doom-mongering", warning that all [...]
Barratt shares fall despite assurances it’s confident in the face of Brexit July 13, 2016 That sad "wah, wah, waaah" trombone you heard this morning was coming from the general direction of housebuilder Barratt, which attempted to restore investor confidence with assurances over Brexit – only to have its shares drop anyway. In a statement this morning the company, whose shares have fallen almost 30 per cent since the result [...]
Fixed or tracker: As Brexit prompts mortgage rates to tumble, how long should borrowers hold out for? July 12, 2016 Brexit might have thrown markets into turmoil, but if you’re thinking of taking out a mortgage, or are remortgaging, rates are about to get even more competitive. Since the referendum began in earnest, investors have clambered to buy government bonds, driving down yields and enabling mortgage lenders to offer more long-term funding. Banks have been [...]
Brexit threat: Property financiers must keep calm and carry on lending July 8, 2016 Before and since the result of the UK’s referendum on European Union membership, uncertainty has pervaded – not least in property markets. Weak construction PMI data, a spate of flagship property funds halting redemptions and downgrades from City analysts has further shaken confidence. Forecasts for companies in the sector have been reduced on the basis [...]
House prices increased in June, but the market is slowing – and some analysts are predicting price falls of five per cent this year July 7, 2016 House prices increased month-on-month in June – but there are signs that the growth is slowing, and some analysts think that they will fall by five per cent in the second half of 2016. Prices were up 1.3 per cent in June as compared to May, according to the Halifax House Price Index, which recorded data throughout [...]
Everything you ever wanted to know about Libor (but were too afraid to ask) July 4, 2016 It may be hard to believe but, four years since the Libor-rigging scandal first rocked the City, the fallout is still being felt. Today, the jury on the most recent Libor trial was discharged after reaching guilty verdicts for three of the men involved but being unable to arrive at a verdict for the other [...]
Four years after the Libor scandal broke – how many bankers have been found guilty, and how many have been acquitted? July 4, 2016 Four years ago, Bob Diamond sensationally quit as chief executive of Barclays as a scandal over Libor-rigging sent shockwaves through London’s banks. Shortly after, on 6 July 2012, the Serious Fraud Office (known as the SFO) kicked off an investigation into the manipulation of Libor – the “London Interbank Offered Rate”, an interest rate benchmark [...]
Opinion: A real estate legal specialist explains why using Brexit to get out of a property deal is a very bad idea June 30, 2016 Several days on from the result of the EU Referendum and, inevitably, many are wondering how leaving the EU will affect the London residential property market. First, it’s important to take a step back and look at what was happening before the referendum. The 15 per cent stamp duty and annual taxes for properties worth [...]
More than 2,000 people have already cashed in their Help to Buy Isa just four months after launch – getting a bonus of just £421 June 30, 2016 Perplexing news from the Treasury, which has reported more than 2,000 people have so far cashed in their Help to Buy Isas – meaning they've made an average of just £421. The figures, published this morning, showed 1,490 properties were bought in the four months to the end of March through the scheme, which gives savers a £50 [...]