Experts are not impressed by HSBC’s new 0.99 per cent fixed rate mortgage June 21, 2016 Money experts have slammed HSBC's latest mortgage offering as a marketing move that shuts out most borrowers. The bank has launched a mortgage with a rate fixed at a record low of just 0.99 per cent for two years. The next lowest available is a two-year deal at 1.14 per cent from the Yorkshire Building Society. [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Brexit and the pound: How hard will battered sterling hit our economy? June 21, 2016 The pound has strengthened as the latest polls show public feeling has swung towards a remain vote this Thursday. Sterling rose 2.3 per cent to $1.4693, the biggest one day gain in over seven years. The last time it rose this sharply was 12 September 2008, days before Lehman Brothers filed for bankruptcy. “Three polls over [...]
Over half of remortgagors lowered mortgage rates in May as EU referendum looms June 20, 2016 More than half of people remortaging in May chose to lower their mortgage rate, as remortgagors braced themselves for a possible Brexit. A third of borrowers reduced their monthly spend by up to £500, and over a quarter (26 per cent) increased the size of their loan, according to research from Legal Marketing Services (LMS). Read [...]
The City of London will prosper in or out of the European Union June 15, 2016 A friend tells me why he is voting Remain. “My wife works for a French bank and they would pull out of London if we left the EU.” That’s fair enough. Assuming the French bank set up in London to access the EU, then it’s logical to assume it would leave after Brexit. But a [...]
These are the top concerns for UK landlords (Brexit is pretty low down) June 13, 2016 As everyone else bites their nails over the EU referendum, the outcome of the big vote has only just made it into the list of the top concerns of UK landlords. Instead, their top worry is the exemption of residential property from the new capital gains tax cuts, according to a survey by Amicus Property Finance. Read more: Brits [...]
Say what you like about the EU referendum – but Brexit isn’t going to hit UK house prices June 13, 2016 Why leaving or staying will have no impact on house prices In the run-up to next Thursday’s referendum, there have been some flabbergasting claims made by both sides. Suppositions made include the premise that leaving the European Union would lead to war and recession (although it was not made clear in what order these will [...]
How landlords are softening the blow of buy to let tax changes June 10, 2016 The government's tax changes on second homes has produced a record demand for mortgages through companies in the first quarter of 2016, according to a report released today. Buy to let lending to limited companies surged to nearly 38,000 in the first quarter, which is more than for the whole of 2014, as landlords incorporate to [...]
British Bankers’ Association set to merge with rival trade associations June 9, 2016 British Bankers' Association (BBA), the trade body that was heavily criticised for its role as the administrator of the Libor interest rate benchmark, is expected to be merged with its rival associations. According to Sky News, BBA members are reportedly set to vote in favour of plans to merge the banking trade bodies to form a [...]
Sadiq Khan won’t improve life for London’s renters by wrapping buy-to-let landlords in red tape June 8, 2016 A “referendum on housing.” That was how Sadiq Khan described the London mayoral contest. Access to housing that Londoners can afford is certainly critical to the future success of the capital, and at the heart of the mayor’s plans are substantial reforms to private rented property. As the voice of private landlords, we welcome debate about [...]