Interest rates forecast to remain at record low until 2016 November 17, 2014 Interest rates set by the Bank of England (BoE) might not rise off their record lows until 2016, economists from HSBC said yesterday. HSBC recently offered a 0.99 per cent mortgage rate for an initial two-year period – its lowest ever rate. Meanwhile, political uncertainty, low inflation and weak economic growth are all set to deter [...]
Save money with a currency specialist November 13, 2014 For most people the first port of call when making an overseas transfer would be their bank, but banks don’t typically offer the most competitive exchange rates. With City A.M. International Payments, provided by exchange experts Moneycorp, you can expect to receive an exchange rate which is 3-4pc more competitive than you can typically get [...]
London property prices: Slowing demand in the capital drives national market dip but it’s “temporary” November 13, 2014 A fall in demand for houses from new buyers in London is leading a dip in the national housing market as house price growth remains sluggish. Demand fell for the fourth consecutive month in October, according to the Royal Institute of Chartered Surveyors (Rics) but the number of houses coming on to the market remained [...]
Slow spending growth could hit economy November 11, 2014 THE UK’S strong recovery is at risk of slowing due to weaker growth in consumer spending, consultancy firm PricewaterhouseCoopers (PwC) said today. For the past two years, an increase in consumer spending has been fuelled by strong employment growth, raised income tax personal allowances, and low mortgage interest rates. Another boost to consumer spending has [...]
Mortgage Advice Bureau IPO: Housing boom helps broker’s stock flotation November 11, 2014 The Mortgage Advice Bureau (Mab) defied choppy markets to price its initial public offering (IPO) yesterday. It has achieved healthy growth this year on the back of a strong housing market, and buyers looking for more help on loans as the prospects of an interest rate rise grow. The loan brokerage is set [...]
Euro at two-year low after hint of early Xmas present November 6, 2014 THE EURO fell to a two-year low and stocks were buoyed yesterday after European Central Bank (ECB) chief Mario Draghi signalled that quantitative easing could soon become a reality. “The Governing Council has tasked ECB staff and the relevant committees with ensuring the timely preparation of further measures to be implemented,” Draghi said during his [...]
Buying slows as house prices fall in October November 6, 2014 THE HOUSING market is slowing down as high prices and strict mortgage regulations put off buyers. The average house price fell by 0.4 per cent in October, according to figures released yesterday by Halifax. Monthly data can be volatile, but growth in the three months to October also slowed to 0.8 per cent – the [...]
UK house prices: Growth dips to 8.8 per cent as mortgage cooling measures take their toll November 6, 2014 "Cooling measures" introduced by the Bank of England earlier this year have taken their toll on house prices. Annual growth slid to 8.8 per cent in October, figures by Halifax showed this morning, down from 9.6 per cent in September. The quarterly figure painted an even gloomier picture, with growth of just 0.8 per cent [...]
Airbnb CEO Brian Chesky: “We want to be regulated because to regulate us would be to recognise us” November 4, 2014 Six-year-old spare room rental app Airbnb has enjoyed an almost meteoric rise – along with Uber, it has become the tip of the spear of the so-called "sharing economy". The firm reached a $10bn (£6bn) valuation in April as part of a fundraising round where it received a $450m investment led by TPG Capital. Peter [...]
UK house price growth may be slowing, but Persimmon is bullish November 4, 2014 Persimmon has enjoyed the fruits of 2014’s high house-price inflation, but there were signs in its third quarter figures that a cooling market is beginning to take its toll. The UK’s largest house builder by market capitalisation announced a 12 per cent increase in forward sales totalling £696m in the three months to the end [...]