House price growth to slow across the country in 2016 December 3, 2015 ANNUAL house price growth nationally is expected to slow to between 4 per cent and 6 per cent by the end of 2016, according to economists at the Halifax. The slowdown is being blamed on the increasing difficulty in getting on the housing ladder, as well as the looming prospect of an interest rate rise [...]
Growing personal debt is a ticking time bomb and trouble will come when rates and inflation start to creep up December 3, 2015 It’s no surprise that we’re borrowing like there’s no tomorrow; prices are low, credit is cheap and coupled with wage growth you could say there’s a feeling of positivity in the air. Make the most of this sweet spot now; we’re watching a ticking time bomb and trouble is likely to be on the horizon. [...]
Bank of England to act if needed on the buy-to-let market December 1, 2015 The Bank of England (BoE) has said it’s ready to act if it feels the booming buy-to-let mortgage market is getting out of control. Threadneedle Street’s Prudential Regulation Authority said it was reviewing banks’ lending criteria. The market for buy-to-let mortgages has ballooned 10 per cent in the first nine months of this year. Although there [...]
Mortgage lending and individual borrowing rose in October according to the latest Bank of England credit report November 30, 2015 The number of mortgages approved in October rose to 69,630, just up from September's 69,012 figure and higher than the 68,099 average over the last six months, Bank of England figures published today showed. The value of new mortgage approvals hit £12.2bn. The October total was just shy of the 70,000 figure forecast by analysts and up 17.2 per cent year-on-year, from 59,423 in October [...]
Nationwide house price index: UK housing supply at its lowest level since 1970s November 27, 2015 Annual house price growth slowed to a five-month low in November – despite the number of available homes on the market falling to a level not seen since the 1970s. Nationwide's house price index showed house prices increased 0.1 per cent in November, meaning the annual growth rate fell from 3.9 per cent a month earlier to 3.7 per cent. [...]
City A.M. Awards 2015 Business Personality of the Year winner Tony Pidgley, the co-founder of the Berkeley Group has a true rags-to-riches tale November 26, 2015 When it comes to determining the key to his success in life, Tony Pidgley puts it down to a good dose of common sense, a splash of luck and the life lesson his first lorry taught him when he was 15 and the engine blew up. His main means of earning his keep – transporting [...]
What does the Autumn Statement 2015 mean for you? November 26, 2015 THE SINGLE PARENT CATHERINE GANNON, MANAGING PARTNER OF GANNONS LAW FIRM Gannons Commercial Law continues to perform extremely well as profits and earnings increased on last year. She is commercially savvy and has restructured the business from an LLP to a Limited Company due to the recent legislation covering LLPs. This illustrates that Catherine is [...]
Autumn Statement 2015: Stamp duty surcharge on buy-to-let properties will hit tenants not landlords, claims Blick Rothenberg November 26, 2015 George Osborne's three per cent surcharge on buy-to-let properties will harm tenants rather than landlords, chartered accountant Blick Rothenberg has claimed. Announced as part of yesterday's Autumn Statement, the charge has been branded a "badly-timed mistake", which could have the unintended consequence of pushing rental rates up, as landlords look to offset the higher costs they [...]
Autumn Statement 2015: Stamp duty changes are a kick in the teeth and may be the final straw for some landlords November 25, 2015 Today's big headlines may be about the tax-credits u-turn, but one of the most significant of the chancellor's announcements was the new additional rate of stamp duty on buy-to-let properties and second homes. This additional three per cent will come as a kick in the teeth for landlords who've already had to cope with the loss [...]
Bad news for landlords as George Osborne hikes stamp duty for buy-to-let homes November 25, 2015 Chancellor George Osborne has said he will raise stamp duty on buy-to-let homes by three per cent. During his Autumn Statement today, Osborne said many buy-to-let and second homes were bought by people who "are not resident in this country". The new rules will be introduced in April 2016. Read more: Stamp duty changes are a kick [...]