No more UK house price bubble? Mortgage approvals fall to a 12-month low in August September 23, 2014 This could be the end of the house-buying frenzy of early 2014. New mortgage approvals hit their lowest since September last year in August, figures by the British Banking Association showed today, with just 41,588 new mortgages approved during the month, down from 42,715 in July, and 14.1 per cent lower than January's 76-month high [...]
Aldermore boss Phillip Monks says he doesn’t want to pay dividends September 22, 2014 If you go to the big banks’ annual general meetings you can be sure to meet angry investors. They turn up every year to complain that dividends are too low or even non-existent, and the banks’ managers are failing to provide the returns they need on their savings. So Aldermore’s boss Phillip Monks might be [...]
Rodney Cook interview: Just Retirement rides out annuity storm September 18, 2014 In February this year, crisis management experts visited Just Retirement’s Surrey head office to give senior executives a crash course in coping with the unexpected. Managers didn’t have to wait long to put that advice to use. When George Osborne announced sweeping changes to pension arrangements within the March Budget, allowing retirees to withdraw their [...]
London rent prices hit record high as new mortgage loans keep climbing September 18, 2014 London rents hit a record high of £1,161 on average last month, according to figures out today from LSL Property Services. Monthly rents in the capital climbed three per cent on the year – an increase which was ahead of wages, intensifying the pressure on tenants. Across England and Wales, the average rent increased by 2.4 [...]
Gordon Brown’s speech on eve of Scotland’s independence vote. Full video and transcript September 18, 2014 At last, the world is hearing the voices of the real people of Scotland. The silent majority will be silent no more. And our patriotic vision, proud of our Scottish identity, proud of our distinctive Scottish institutions, proud of the Scottish Parliament that we, not the Nationalist party, created. And proud, and [...]
Another 1,000 mortgages go on the market as lenders open the floodgates September 17, 2014 BANKS are offering increasing numbers of mortgage products to compete for new customers as the market finally gets back to operating at normal levels, figures from the Mortgage Advice Bureau showed today. A total of 12,265 products were on offer last month, a jump of 964 in just one month. It means more products are [...]
Housing boom is nationwide September 16, 2014 HOUSE prices boomed at record rates across the UK in the year to July, according to official data released yesterday, despite separate and more recent figures showing growth rates levelling off. Prices rose 11.7 per cent in the year to July with London leading the way at 19.1 per cent. Prices paid by first-time buyers [...]
Cheaper houses, more expensive holidays: Five of the most important changes to the UK if Scotland votes for independence September 16, 2014 With the Scottish independence referendum just two days away, a question on many people's minds is what will happen to their finances if Scotland does decide to leave. Here are some of the ways in which those left in Britain will feel the effects. House price fall Online estate agency Emoov has [...]
The financial A to Z of Scottish independence – CNBC Comment September 15, 2014 A new, independent Scotland might flummox a foreign visitor. So it’s lucky this financial A to Z has turned up – even if some say it’s a parody of the Better Together campaign. A: Alex – Scotland’s official unit of currency, though largely superseded by an informal bartering system, where one barrel of oil [...]
Next profits up after recovery spurs spending September 11, 2014 NEXT yesterday reported strong half-year profits, fuelled by the economic recovery, rising house prices and higher household spending. Total sales were 10.3 per cent stronger than for the same period last year and pre-tax profits rose 19.3 per cent to £324.2m, compared with £271.8m a year earlier. But the fashion and home retailer said it [...]