Virgin Money says it has weathered the Brexit storm as it grows profit in first half of 2016 July 26, 2016 Challenger bank Virgin Money reported an increase in profits during the first half of 2016, and said it had weathered the Brexit vote storm, with very little changed in its outlook. The figures Statutory profit before tax was up to £93.7m, a 70 per cent jump from the first half, when profit of £55m was recorded. [...]
Head to Italy for this summer’s Eurozone crisis July 25, 2016 It wouldn't be summer without a crisis in the Eurozone and, following the UK’s vote to leave the European Union, we are likely to have a second, this time with an Italian flavour. Italy’s banks were once the foundation of the modern banking system – but now, weighed down by bad debts and a dismal [...]
The most (and least) affordable places to live in Britain July 24, 2016 If you're a first-time buyer looking to jump on to the first rung of the ladder, it's time to look beyond London to get the most bang for your buck. The top 10 least affordable areas for wannabe homeowners are located in the capital as the average price of property for first timers jumped 12 [...]
This graph shows the changing landscape of the UK mortgage market July 22, 2016 This graph depicts how dramatically the UK mortgage market has changed over the last decade. The chart, created by Statista from ONS data, lays bare how the 25-year mortgage has declined in the last 10 years. Read more: Housing market was buoyed by mortgage momentum on eve of EU referendum In 2006, 25-year mortgages commanded a 42.2 per cent [...]
Estate agents, housebuilders and other property shares slide on downbeat house price forecasts July 22, 2016 Property companies were the FTSE's biggest fallers this morning, after a raft of downbeat forecasts surrounding the UK's housing market. Countrywide, the UK's largest estate agent, was one the biggest faller on the FTSE 250 in early trading, with its shares falling 7.2 per cent to 233.7p. However, property portal Zoopla and Crest Nicholson were also both [...]
The housing market was buoyed by mortgage momentum on the eve of the EU referendum July 21, 2016 Mortgage lending rocketed to an eight-year high before last month's EU referendum as the housing market showed few signs of pre-vote jitters Figures released by the Council of Mortgage Lenders (CML) showed £20.7bn was dished out to homebuyers and re-mortgagers in June – 16 per cent more than in May. The figure was an eight-year [...]
Here’s how much the average house price increased in the year to May July 19, 2016 Average house prices in the UK increased by 8.1 per cent in the year to May 2016 – unchanged from the year to April. The average UK house price was £211,000 in May – £16,000 higher than in the same month last year, and £2,400 higher than in April, according to the Office for National Statistics [...]
Brexit: It’s early days, but UK business has been getting on with it July 15, 2016 It is less than three weeks since the British people voted to leave the EU. In that time, much of the media response has been verging on hysterical. The political establishment, City and even bookmakers simply did not see Leave coming. Figures who were top of their game a month ago have fallen on their swords: [...]
Investing beyond 100: How rising life expectancy will change everything July 14, 2016 A century is an important milestone worthy of celebration. We recently commemorated 100 years since the Battle of the Somme. Vogue made headlines in May for featuring a 100-year old model to celebrate the magazine’s centenary year. On your hundredth birthday, you can expect to receive a message from the Queen. But what happens when living [...]
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 [...]