Fed launches open-ended bond buying programme September 13, 2012 The US Federal Reserve this afternoon launched a third round of quantitative easing. It will spend $40bn (£24.8bn) a month on buying mortgage-backed securities, with no end date. Interest rates are likely to stay “exceptionally low” until at least mid-2015, the Fed added. US economic growth cooled in the second quarter, coming in at a [...]
Lloyds joins SME loan price war September 10, 2012 CHEAP funds from the government filtered through to small and medium sized enterprises (SMEs) yesterday as Lloyds became the latest bank to cut borrowing costs. It comes a day after RBS announced a similar move to cut rates for manufacturing firms, while several leading banks cut mortgage rates last month. The Bank of England is [...]
These politicians are wrong – a tax on wealth would be bad for Britain September 9, 2012 A NUMBER of leading political figures – including Nick Clegg, Vince Cable and Ed Balls – have recently voiced their support for a new wealth tax. It is easy to see why this idea is attractive to politicians. In the UK, personal wealth totals around £7 trillion – around 5 times GDP – even after [...]
Your first move onto the property ladder September 9, 2012 UK HOUSE prices saw their biggest fall for a year in the three months to July 2012, according to the Royal Institution of Chartered Surveyors (Rics). But the capital is bucking the trend. London property prices grew by 6.5 per cent over the last year, according to last quarter’s Greater London Authority London Housing Market [...]
More homes would make climbing the second step easier September 9, 2012 GETTING a foot on the property ladder is hard. But, taking the second step could be even harder. Agonising market conditions mean that it could now be the most challenging time to be a “second stepper” in years. Research shows that a first-time buyer stays in their first property for around four years. Since the [...]
Grazie, Mario September 6, 2012 THE EUROPEAN Central Bank (ECB) is gearing up to spend billions of euros on supporting troubled governments, ECB boss Mario Draghi announced yesterday, sending markets soaring. As long as indebted governments ask the official bailout mechanisms for help and put in place strong plans to get their finances back on track, the ECB will consider [...]
Top tips for investment first-timers September 2, 2012 IF YOU’RE lucky enough to find that you’ve got money left at the end of each month, the investment decisions you make now could make a big difference to the quality of the rest of your life. However, deciding how you invest isn’t easy. At a time of stock market volatility, negative real returns from [...]
London Barometer August 30, 2012 DIRECTOR OF DOUGLAS & GORDON JULY seems to show, rather surprisingly given the Olympics, Jubilee and summer holidays, that it’s pretty much business as usual for the London market. Applicants are up 20 per cent year on year and stock levels remain stubbornly low. While sentiment in the UK generally seems to be negative, London’s [...]
Moody’s chops 3CIF’s rating on bailout fear August 28, 2012 MORTGAGE lender Caisse Centrale du Credit Immobilier de France (3CIF) yesterday saw its long-term debt rating slashed from A1 to Baa1 by ratings agency Moody’s, as it continues to seek a buyer. The troubled institution cannot access capital markets, and in July announced plans to sell itself. But its long-term future is far from assured [...]
International money bolsters central London property boom August 27, 2012 INTERNATIONAL cash is flooding into the London property market, as foreign buyers capitalise on weak sterling, a report released today by Cluttons claims. The property consultants predict a 3.2 per cent annual increase in prime central London house prices, driven by cash buyers – in turn driven by the weak pound. Compared to the 2007 [...]