More borrowers will be paying off mortgage debt into their 70s January 21, 2025 In the first nine months of 2024, 22,103 mortgages with a term of at least 35 years were approved to people aged over 36.
Rents in this part of London rose faster than anywhere else in the capital last year January 21, 2025 Shoreditch has claimed the crown as the most in-demand spot in the capital for renting, although the rate of increase still remains below 2022 levels. Rents in the trendy area, known for everything from tech start-ups to vintage clothes shops, climbed by 6.6 per cent per month in 2024. Across London as a whole, the [...]
FCA chair: Our growth push will test UK’s risk appetite January 20, 2025 The Financial Conduct Authority’s (FCA) push to slash red tape and unleash growth in the City will test the UK’s appetite for risk, its chair has warned, accepting that two of its new proposals could open the door to more fraud and mortgage defaults. Writing in City AM today, Ashley Alder said the FCA will [...]
FCA: Going for growth means taking risks January 20, 2025 Ashley Alder, chair of the Financial Conduct Authority, says the financial services sector has long recognised that effective regulation can be a powerful enabler of growth. The question now is not should we embrace risk, but how much? January is a time to reflect, re-balance and re-focus. And this year, the relationship between regulation and [...]
At 1 Hotels, luxury means something different January 18, 2025 As 1 Hotels prepare for their biggest rollout of openings, Adam Bloodworth explores the brand’s intriguing formula Sure, you can have a great dinner, and yep, the spa’s so nice you could easily pop in for an hour but end up spending the whole afternoon. But it isn’t an obvious type of luxury that appeals [...]
Savills: End of work from home drives recovery in office property market January 16, 2025 International property services company Savills has predicted a strong commercial property market this year driven by cheaper financing, the sustainability agenda and workers’ return to the office. The FTSE 250-listed firm told the market this morning that while it expected challenging conditions to continue, “most markets are in recovery”. However, the firm added that geopolitical uncertainty, [...]
Business confidence plunges to lowest level since Liz Truss’s mini-budget January 15, 2025 Rachel Reeves’s tax hikes have pushed business confidence to its lowest level since the wake of Liz Truss’s calamitous mini-Budget, as firms fret over a surge in costs and slowdown in the domestic economy, a closely watched survey has suggested. Concerns over a looming tax bill and a slump in sales caused business confidence to [...]
Home REIT: Beleaguered property fund value falls 60 per cent January 14, 2025 Scandal-hit housing investor Home REIT has published its long-delayed 2023 annual results, revealing its property portfolio has been valued at just 40.7 per cent of its original purchase cost. The results for the year to 31 August 2023 revealed that the value of Home REIT’s assets had decreased by more than a third in a [...]
It’s hard to see how City Minister survives the week January 14, 2025 Will Tulip Siddiq still be the City minister by the end of this week? It’s an important question, for a number of reasons. Siddiq’s fate matters a great deal to Keir Starmer and the government, because nobody wants to lose an anti-corruption minister to a corruption scandal. It matters to the wider Labour party because [...]
London house prices rise by just £600 as worst borough revealed January 14, 2025 The London borough where more houses fell in value than almost any other area in the UK in 2024 has been revealed. According to new data released by Zoopla, the value of 72 per cent of houses in Kensington and Chelsea fell by at least one per cent last year. A total of 73,200 homes [...]