Barclays has just started offering a 100 per cent mortgage (but bank of mum and dad is still required) May 4, 2016 We all know how well 100 per cent mortgages worked before the financial crisis – but now Barclays has become one of the first lenders since the crisis not to require a deposit from first-time buyers. Well, sort of. The lender said it has made changes to one of its first time buyer mortgages which means borrowers [...]
After a difficult first quarter for UK-based banks, is the outlook finally beginning to brighten? May 4, 2016 Laith Khalaf, senior analyst at Hargreaves Lansdown, says Yes. There is no doubt things are tough in the banking industry. But while performance in the first quarter was poor, it was generally ahead of expectations, which serves to underline the level of pessimism surrounding the sector. Progress has been slow since the financial crisis, and there [...]
Property wealth is worth more than pension savings for more than half of over-55s May 3, 2016 Over 55 year-olds have more wealth locked up in their property than their total pension savings combined, a new survey shows. The study, by high net worth adviser Bower Private Clients, found that 58 per cent of over 55 year-olds estimate that their mortgage-free home is worth more than the combined value of their and their partner’s pension [...]
Four of the best recovery stocks: From alternative lenders to biotech, fund bosses highlight the unloved companies due for a stock market turnaround May 3, 2016 Investing in a company that’s had a bad spell on the stock market can mean an opportunity to buy cheap shares. If a turnaround is successful, or the company proves its true potential to the market, those shares will one day be worth much more. I asked the experts which stocks they’re backing. Illumina From James [...]
RBS’s share price drops as losses widen more than expected to £968m April 29, 2016 Losses at Royal Bank of Scotland have widened more than expected in the first quarter of 2016, as the bank confirmed it will have to consider alternatives for its plan to offload William & Glyn. Shares dropped by more than two per cent to 239p in response to the news. The figures RBS made an attributable [...]
Now generation rent faces financial “time bomb” after managing to jump on the property ladder April 29, 2016 Generation rent hasn't totally given up hope of ever owning their own home – yet, anyway. But as well as the average age of the first time buyer rising to 30.4 years old, there's a new burden for them to shoulder, as worry is shifting to how and when they will pay for it all as they get older. One in [...]
EU votes through law designed to prevent Libor rigging April 28, 2016 The European parliament today voted to approve a new law designed to make the manipulation of benchmark rates, such as Libor and Euribor, much trickier to do. The legislation, which aims to make the rate setting process more transparent and less likely to be subject to conflict of interests, was voted through by 505 votes to 113. [...]
Taylor Wimpey says it’s “well equipped” to handle Brexit uncertainty as order book fills up April 28, 2016 The boss of one the UK's largest housebuilders, Taylor Wimpey, has shrugged off concerns surrounding the EU referendum, claiming that it is "well equipped" to react to any changes in the market and that uncertainty in the run-up to the vote has had no effect on trading. Speaking at the company's annual general meeting this morning, [...]
The increasing number of self-employed people is causing a real headache for pensions April 28, 2016 The recent trend towards self-employment could potentially create problems for pensions, a report out today warns. According to the research by the Federation of Small Businesses (FSB), self-employment is now at its highest level for 40 years but less than a third (31 per cent) of those who are self-employed are saving into a private pension. Meanwhile, 15 [...]
Property market mushrooms in March as mortgage borrowing hits a post-crisis high April 26, 2016 The property market was in full swing last month with yet another industry report showing mortgage lending shot up as investors piled in to beat the stamp duty surcharge which came into effect on 1 April. According to the British Bankers’ Association (BBA), banks and building societies dished out £17.1bn to people taking out mortgages in March – [...]