Treasury Committee upset about being stood up by Vote Leave’s chief executive: “We’re all pretty grumpy” May 9, 2016 MPs on the Treasury Committee launched an attack on the chief executive of Vote Leave this afternoon. Andrew Tyrie accused Matthew Elliott, chief executive of Vote Leave, of “mucking around” the parliamentary committee. He revealed the committee was “forced to summon you under a parliamentary order”, saying this was the first time he had seen such [...]
This giant credit rating agency has just issued a warning about Sadiq Khan’s plans to freeze TfL fares May 9, 2016 Hmm. Looks like things aren't getting off to a great start for London's new mayor, Sadiq Khan, after one of the world's largest credit ratings agencies warned his central pledge may hurt Transport for London (TfL). That didn't take long… In a statement that was as brief as it was punchy, this morning Moody's warned [...]
Dip in house price growth “caused by weak consumer confidence”, says Halifax – but others think it could be the Brexit effect May 9, 2016 UK house price growth actually dipped last month, with economists blaming weakening consumer sentiment for a slowing in annual increases. According to the Halifax House Price Index, average house prices fell 0.8 per cent in April to £212.321. This meant the annual change had slowed from 10.1 per cent recorded in the year to March to 9.2 per cent. [...]
Nationwide becomes latest lender to up its mortgage loan age limit May 9, 2016 In yet another sign millennials are drawing on the bank of mum and dad (or perhaps, grandma and grandad), Nationwide raised its mortgage borrowing age limit from 75 to 85. It means a 60-year old who is able to afford the repayments can take out a 25-year mortgage, Nationwide said. The loan limit is £150,000 and it can [...]
Trying to sell your house? House-sellers are being forced to drop their prices – and the amount they’re cutting is rising May 9, 2016 People trying to sell their homes are increasingly having to mark down their original asking price – and the amount they are dropping it by is going up. Last month we heard that sellers in some London boroughs were having to drop prices by as much as 29 per cent, but new research suggests the issue is even more [...]
Parking mad: London parking spaces sold for over £200,000 May 8, 2016 LONDON is one of the world’s most expensive places to pay for parking space. On Brewer Street in Soho, for example, you could spend over £50 on just three hours of parking. That may be why some mysterious buyers have forked out as much as much as half a million pounds to buy a parking [...]
Cameron promises to fight global corruption in wake of Panama Papers May 8, 2016 The Prime Minister has promised to fight global corruption ahead of a summit due to be held in London this week where the Panama Papers leak is likely to dominate the agenda. David Cameron has said he will put tackling corruption at the "top of the international agenda" at the international anti-corruption summit this Thursday, which [...]
EU referendum: George Osborne warns Brexit will hit Britain where it hurts – property prices May 8, 2016 George Osborne has warned that the nation's homeowners face a double whammy drop in house prices and a rise in mortgage costs if Britain votes to leave Europe. "It’s already clear from the Treasury analysis that for example, there would a significant shock to the housing market, that would hit the value of people’s homes, that would hit the cost [...]
Housebuilders have their doubts about government targets May 6, 2016 When the government revealed its target to build one million homes by 2020, plenty of those dreaming of stepping onto the property ladder must have rejoiced. However, a study out today warns that they might have celebrated too soon, as over half (51 per cent) housebuilders believe that the target will not be met, with lack of land, painfully [...]
Canary Wharf boss says London could be overtaken by EU cities within years if Brexit happens May 6, 2016 Canary Wharf property boss Sir George Iacobescu has said London would be overtaken by other key European cities within five years if Britain leaves the European Union. "There is nothing you have here in London that is not replicable," Iacobescu said at the City Property Association's EU referendum debate last night. "Whether it is Frankfurt [...]