Barclays to hire the over-50s as apprentices February 8, 2015 BARCLAYS has announced it is launching an apprenticeship scheme for the over-50s, giving older workers a chance at a new career in banking. The scheme, which will place middle-aged trainees on the bottom rung, will be advertised in summer, and piloted later in the year. The move comes after the government’s older workers champion, Dr [...]
House prices climb over winter February 5, 2015 THE HOUSING market boom that saw price growth peak at 10.2 per cent year-on-year in July may not be over, according to one of the UK’s biggest mortgage lenders. House prices jumped two per cent in January – the biggest monthly increase since 2009, figures released yesterday by Halifax show. The average house price in the [...]
Tight mortgage rules squeeze the old and the self-employed February 5, 2015 MORTGAGE brokers are increasingly struggling to find loans for home buyers with unusual requirements, thanks to tougher rules on lending quality, the Intermediary Mortgage Lenders Association (IMLA) warned today. Three-quarters of brokers said lenders are “too conservative” on mortgage criteria. The survey found 84 per cent of brokers have been unable to help a customer in [...]
UK house prices come roaring back in January: Mortgage rates, stamp duty or just an outlier? February 5, 2015 The night is always darkest before the dawn, but house prices have skipped the daybreak formalities to come bouncing back. According to Halifax, the figures are bullish: 1.9 per cent quarterly growth hasn’t been seen since September, and the two per cent monthly bounce hasn’t been bested since last February. Annually, and perhaps most reliably, [...]
Standard & Poor’s settles for $1.4bn over ratings allegations February 3, 2015 Standard & Poor’s (S&P) has reached a settlement with US authorities to pay $1.4bn (£900m) over claims it handed out inflated ratings to debt tranches based on US mortgages. Prosecutors alleged S&P did so despite knowing risks were building in the market. McGraw Hill, which owns S&P, has agreed to pay $687.5m to the US [...]
HSBC offers cheapest fixed-rate mortgage as rates dip closer to 1pc February 1, 2015 HSBC is set to introduce the cheapest fixed-rate mortgage on the market today as intense competition continues to push down interest rates. The bank’s two-year fixed-rate mortgage will have an interest rate of 1.19 per cent. However, it comes with a £1,499 fee. “Mortgage lenders are in a race to the bottom [with regard to [...]
Do new figures tell us the financial future of the UK? January 30, 2015 As average citizens, it has become rather hard to ascertain whether we should be positive about the future of the British economy or not. One morning we turn on the news or pick up the paper to see reports of an upturn in fortunes, only for this to be quashed just days later with stories [...]
London property market boom loses steam as it enters the new year January 29, 2015 LONDON house prices finished 2014 growing more slowly than they had done earlier in the year, but still at rates far above the average for England and Wales. The average price of a residential property in the capital was £464,936, according to figures released yesterday by the Land Registry. The average London price was 16.3 [...]
Nationwide says price growth is easing off January 29, 2015 THE HOUSING market continued to come off the boil in January, according to a leading mortgage lender. Year-on-year price growth slowed to 6.8 per cent in January from 7.2 per cent in December, figures released yesterday by Nationwide show. It marks the fifth month in a row in which house price growth has declined. “The further moderation [...]
UK house price growth slowest since 2013 January 29, 2015 House prices in the UK have risen at the slowest pace in more than a year, according to the latest figures from building society Nationwide, a further sign that the UK housing market is cooling. Annual house price growth slowed for the fifth month straight to 6.8 per cent this month, down from 7.2 per [...]