Budget, oil rig count and Nigerian GDP: Here’s our world view March 26, 2015 Rising debt, capital outflows and falling commodity prices – we highlight the numbers that matter from around the globe NORTH AMERICA 268 the number of rigs drilling for shale gas in the week ending 6 March 2015, down from 1,606 in the summer of 2008. And yet US gas production has continued to rise. Baker [...]
Mortgage approvals roar to five-month high as recovery “takes hold” March 25, 2015 Mortgage approvals have the wind of low borrowing rates in their sails and have stormed to a five-month high. The number of mortgage approvals jumped to 37,305 in February, up from 36,517 in January. A bit of context is revealing: they are still 20 per cent lower than in February 2014. What is more, approvals [...]
Low mortgage rates and booming UK economy lifts housebuilder Cala Group March 24, 2015 Upmarket housebuilder Cala Group said it was on track to deliver another year of record profits as low mortgage rates, the strength of the UK economy and the ongoing housing shortage continued to boost demand. The Edinburgh-based group, which develops upmarket properties in Scotland, the Midlands and the Home Counties, said yesterday it had already [...]
Variable mortgage deals rise as interest rate hike prospect wanes March 23, 2015 The fading prospect of an imminent interest rate hike prompted more mortgage borrowers to opt for variable rates during February than any month since November 2012, data from a mortgage broker today showed. One in 10 homebuyers and remortgaging homeowners chose variable rates in February, up from 8.6 per cent in January and the highest [...]
Eurozone to see lending pick-up after long slump March 23, 2015 MORTGAGE lending is predicted to hit an all-time high in the Eurozone this year, while business lending will grow for the first time in four years, according to forecasts from EY. The accountancy firm says the bloc’s recovery, combined with lower energy prices, will mean this year is a turning point after a decade-long lending [...]
Britain likely to reach a record low for inflation – London Report March 23, 2015 CONSUMER price inflation is likely to have fallen to a new record low of 0.2 per cent in February, moving Britain closer to deflation. Official figures out tomorrow look set to show the fall in the index, which comes after the previous low of 0.3 per cent in January. Howard Archer, of IHS Global Insight, [...]
Short supply of homes fuels rocketing UK rents and house prices March 19, 2015 A short supply of housing and a recovery in economic fortunes is pushing up rents and house prices. Average monthly rates stood at £766 in February, up 3.1 per cent on last year, according to figures released today by estate agents Your Move and Reeds Rains. London saw the second greatest annual rise in the [...]
Budget 2015: Young first-time home buyers given a helping hand with Help to Buy Isa March 18, 2015 With fewer young people able to afford to buy a home, the Budget aims to help them out. Tim Wallace asks: Will it work? Can you imagine paying £22,000 for a flat? It sounds like a joke now, but it was the average price of a first-time buyer’s home in Britain in 1984. It was [...]
On life, taxes and Osborne’s chance to beat a £20bn target March 18, 2015 If taxes are one of life’s few certainties, then taxes on banks are becoming just as predictable. Just when HSBC thought its lot could not get any tougher, up pops George Osborne with his bi-annual hike to the rate of the charge on lenders’ balance sheets. The chancellor’s final pre-General Election Budget included a commitment [...]
What does the chancellor’s Budget mean for you? From the single parent to the startup founder March 18, 2015 THE SINGLE PARENT Catherine Gannon, 51Managing partner at law firm Gannons Gannons Commercial Law continues to do well, with profits and earnings up on last year. Catherine is commercially savvy and has restructured the business from an LLP to a limited company, illustrating that she is a smart operator in a segmented legal market. [...]