Nationwide offers boost to first-time buyers as mortgage rates cut September 24, 2024 Nationwide announced that it will allow first-time buyers to borrow up to six times their income for a mortgage, becoming the first major lender to offer this significant boost.
China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
BGO secures Victoria’s largest ever pre-let as firm relocates HQ September 23, 2024 Finance services firm set to relocate HQ from Mayfair to 105 Victoria Street after it signed the largest pre-let in Victoria's history.
Rightmove bidding battle shows that UK plc isn’t ‘for sale at any price’ September 23, 2024 A “lack of engagement” from Rightmove may have come as a surprise to Rupert Murdoch’s property group REA after it tabled not one but two takeover offers for the British company this month. On Monday, REA’s boss Owen Wilson said he was “genuinely disappointed” that Rightmove was unmoved by the interest, as the Australian firm [...]
Historic Magna Carta house hits market for £4.5m September 23, 2024 The Victorian listed home where King John signed the Magna Carta in 1215 is on the market for £4.5m
Real Estate Investors: Property downturn ‘at or near the bottom’ September 23, 2024 "A normalising market backdrop will contribute to more rapid sales and debt repayment, allowing us to execute our strategy and return capital to shareholders, whilst continuing to pay a covered dividend," he said.
Pension giants ink £1bn build-to-rent deal September 23, 2024 “We can see there’s a critical shortage of housing supply, coupled with increasing demand for high-quality rental homes,” said Elizabeth Fernando, chief investment officer at the workplace pension fund said.
REA raises Rightmove bid to £6.1bn as it slams ‘lack of engagement’ September 23, 2024 Australian property group REA has upped its takeover bid for Rightmove to £6.1bn, saying it is “genuinely disappointed” with the lack of engagement from the company so far. Earlier this month, Rightmove snubbed a £5.6bn offer from Rupert Murdoch-owned REA, saying it was “wholly opportunistic” and undervalued the British property portal. On Friday, the Rupert [...]
Zoopla: Property portal returns to the black after cutting almost 100 jobs September 20, 2024 Online property portal Zoopla returned to profit during its latest financial year as its sales passed the £90m mark. Newly-filed accounts with Companies House have revealed that the business swung to a pre-tax profit of £18.7m in 2023, having reported a pre-tax loss of £6.2m in the prior 12 months. The results also show that [...]
Two-year mortgage rates fall as markets brace for future interest rate cuts September 20, 2024 Two-year mortgage deals are becoming increasingly competitive as rates continue to fall faster than longer-term deals.