Challenger banks: More than just a fancy app? April 19, 2016 It was hard to go a week last year without hearing another story about a startup threatening the existence of the banks. Challenger banks in particular popped up left, right and centre, looking to take a swipe at the established players. Many of them are mobile-only banks, allowing customers to carry out traditional banking tasks via [...]
These five London areas were among the worst in the UK for disposable income growth April 18, 2016 London accounted for half of the 10 worst performing areas for growth in disposable income over the last five years, according to new research released today, which blamed rising housing costs and lower City bonuses in part for the slowdown. Camden and City of London were the only areas in the UK to have experienced a [...]
Persimmon narrowly dodges revolt over new director Nigel Mills and executive pay, as shares slump over sales slowdown April 14, 2016 Persimmon narrowly avoided a revolt today over the appointment of Nigel Mills to the board after shareholders raised concerns over his links to the housebuilder's financial advisers. More than 47 per cent of shareholders voted against appointing Mills as an non-executive director at the company's annual general meeting held at York race course – with 107m votes in favour [...]
Property bubble shows no sign of popping yet as mortgage lending marches higher April 13, 2016 Mortgage lending grew by one-fifth over the last twelve months as the number of first time buyers, people moving homes, buy-to-let investors and remortgages all grew according to the Council of Mortgage Lenders (CML). In total, £8.7bn was taken out for new mortgages in February 2016, up 21 per cent on last year, while another [...]
Six reasons why London’s property market won’t collapse this year April 7, 2016 A recent report by UBS argued that London’s property market in London is exposed to the world's highest bubble risk and many would agree. But the reality is there are several good reasons why prices won't fall anytime soon. Here are just six. 1. Population growth London’s population grows faster than the UK national average and the supply of [...]
These are the hottest 50 fintech companies right now (and half are from London) April 5, 2016 London continues to dominate the world of financial technology with more than half of the hottest fintech startups located in London. Of the 50 startups to make the Fintech50, a comprehensive annual list of the best new businesses disrupting finance and chosen by leading venture capitalists and top tech execs, 29 were spawned in London. The newly [...]
Last minute ski bargains can be had if you shop around in Westendorf, Austria April 4, 2016 Eevery dedicated skier fantasises about buying a property in the mountains. With interest rates on euro mortgages at record lows and sterling strong against the euro, now may be the time to take the plunge. For many Brits, France is the obvious choice, given the cheap flights and easy access via the Eurostar. Some ski [...]
UK house price growth has accelerated – and it’s not all because of stamp duty changes, according to the Nationwide House Price index April 1, 2016 Would-be second home owners appear to have bolstered the UK's house price growth in March, with the annual rate accelerating to 5.7 per cent – up from 4.8 per cent the previous month. The price of a typical UK home rose by 0.8 per cent, at least in part as a result of buy-to-let investors [...]
Landlords make last minute dash to beat buy-to-let stamp duty hike deadline March 31, 2016 Landlords and agents were scrambling to complete last-minute purchases of second home and buy-to-let properties today ahead of stamp duty hike which comes into effect at midnight. George Osborne's clampdown on buy-to-let properties was announced in November's Autumn Statement as part of a raft measures designed to tackle the housing crisis and help more first-time buyers on the property [...]
The mortgage market is helping to fuel a new credit boom March 31, 2016 Lending in the UK is recovering strongly. The annual growth rate of total lending hit 4.8 per cent in February, according to figures released by the Bank of England this morning. It is the highest growth rate since 2009 when lending was plummeting. Here's what is helping to drive it: Mortgage lending Borrowing is bouncing back in [...]