The subprime mortgage crisis isn’t over – UK taxpayers remain liable June 7, 2012 THE subprime mortgage crisis isn’t over. On the back of misguided government policies, taxpayers in the US and UK remain on the hook for huge sums. The ideology of affordable housing must end. It took just 13 years to destroy the American mortgage market with devastating effects for the rest of the world. The process began [...]
Government to back up mortgages for new builds March 11, 2012 THE GOVERNMENT will today launch a scheme designed to make new-build homes available to more first time buyers. The NewBuy programme will use an indemnity fund and government guarantee to back up 95 per cent loan-to-value mortgages. The mortgages will reduce the size of required deposits, its proponents say. Property website Rightmove argues that the [...]
End of relief on stamp duty hits UK house prices March 29, 2012 HOUSE prices fell sharply in March, data from Nationwide showed yesterday, as the stamp duty holiday for first-time buyers came to an end. Lending figures from the Bank of England also showed mortgage approvals plunged in February, suggesting the market has slowed further. Prices fell one per cent in March, the first decline in six [...]
House prices struggle despite duty incentive April 9, 2012 HOUSE prices fell again in March, despite higher buying activity ahead of the expiry of the stamp duty holiday, industry figures showed today. Ten per cent more surveyors reported prices falling than rising in the three months to March, according to the Royal Institution of Chartered Surveyors’ (RICS) survey. The fall represents a slowdown from [...]
The wild, wonderful tale of the Bentley Boys December 7, 2012 When Bentley unleashes its Continental GT3 racer next year, it will be the first time for generations that owners will be able to join a Bentley racing team. This raises the mouth-watering prospect we could be looking at a whole new generation of Bentley Boys; flamboyant, wealthy and talented gentlemen racers of an ilk not [...]
Wolfson’s winter jumpers keep Next hot as M&S plays catch-up October 31, 2012 MY mum used to buy me a jumper from M&S for Christmas every year. Now she goes to Next.” My colleague’s admission may have raised a laugh yesterday, but it’s a telling sign of the changing times on the UK high street. Looking at Next’s upbeat statement – predicting a £15m increase in profit for [...]
Mortgage lending up by 10% February 20, 2012 Gross mortgage lending hit £10.5bn in January, up 10 per cent compared to the same month last year, according to figures from the Council of Mortgage Lenders (CML). Lending fell by 14 per cent from £12.2bn from December but was still substantially up on figures from January 2011. CML chief economist Bob Pannell said he [...]
Mortgage lending up by 10% February 20, 2012 Gross mortgage lending hit £10.5bn in January, up 10 per cent compared to the same month last year, according to figures from the Council of Mortgage Lenders (CML). Lending fell by 14 per cent from £12.2bn from December but was still substantially up on figures from January 2011. CML chief economist Bob Pannell said he [...]
What the other papers say this morning September 25, 2012 FINANCIAL TIMES Temasek considers StanChart stake Singapore investment fund Temasek has sounded out potential buyers for its £6bn stake in Standard Chartered, potentially reigniting talk of a takeover of the emerging markets bank. The fund, which is owned by the Singapore government, had been judging buyer interest for its 18 per cent shareholding in recent [...]
FTSE shored up by strong blue chip results May 2, 2012 The FTSE 100 was flat in early trading as better than expected US manufacturing figures were offset by the bleak picture in the Eurozone. US manufacturing expanded at its fastest pace for 10 months fuelling confidence in the recovery of the world’s largest economy. However, the Eurozone’s manufacturing sector slipped further into decline last month, [...]