Roaring mortgage rates to keep a lid on housing demand as City eyes Bailey and Pill remarks June 26, 2023 Roaring mortgage rates in response to markets betting the Bank of England will have to send official borrowing costs to over six per cent are poised to have kept a lid on housing demand. Fresh figures out this Thursday from the Bank of England are expected to show the volume of mortgages approved in May [...]
Labour’s employment reform unveiled: Insights for City of London employers from the King’s Speech July 17, 2024 In today’s King’s Speech [17th July 2024], King Charles III outlined the UK government’s legislative agenda for the new parliamentary season, highlighting Labour’s ambitious plans for employment reform, particularly on race equality and workers’ rights. Sir Keir Starmer, in his inaugural King’s Speech, reiterated his commitment to enhancing workers’ rights and empowering trade unions. The [...]
N Brown: Online retailers will ‘kick on’ again in new year following cost of living lull September 5, 2023 N Brown chief executive Steve Johnson said he expects online retailers to “kick on” again in the new year, following a lull period driven partly by customers returning to physical stores in order to shop around amid the cost of living crisis. Speaking to City A.M., Johnson, who heads up the business behind popular online [...]
Relief for mortgage prisoners: Six banks to begin lending on flats with unsafe cladding December 20, 2022 A handful of the country’s biggest banks will consider mortgage applications for some flats with dangerous cladding from January, in a sigh of relief for people trapped in unsellable properties. Lenders withdrew mortgage provisions for unsafe flats following the Grenfell Tower disaster, when 72 people were killed in a fire at a high-rise block in [...]
Nationwide further tightens criteria for new mortgages as coronavirus crisis bites April 1, 2020 Building society Nationwide has further tightened its lending criteria, excluding bonus, overtime and commission as income it recognises for new mortgage applications. The move follows its decision yesterday to withdraw its offering for low deposit borrowers. Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value (LTV) from its online and broker channels and restricted them [...]
Payment firms welcome government focus on open banking and competition November 23, 2023 Payment firms have welcomed Jeremy Hunt’s plans to legislate on open banking next year and follow recommendations of a government-backed review calling for more competition.
Mortgage costs expected to grow by another £2,500 as inflation spirals July 1, 2022 The cost of a mortgage is expected to grow by another £2,500 by the end of this year, in comparison with December 2021, according to property site Zoopla today. Economists anticipate “sharp” hikes to mortgage rates in the coming months, as the Bank of England seeks to tame spiralling inflation, which is already at 9.1 [...]
Three more lenders cut mortgage rates as others warned to ‘sharpen pencils or risk losing out’ November 14, 2023 First Direct, Halifax and HSBC UK have all cut their rates, while others have been warned they risk losing out.
New biothreats radar amid warnings Covid vaccine prep ‘dismantled’ June 12, 2023 Government ministers are set to launch a new biothreats radar programme to guard the UK against disease outbreaks, bio-attacks and antimicrobial resistance. Pandemic preparedness, data monitoring and boosting the UK’s life sciences sector with £1.5bn a year are also priorities for the unit, set to be run by the National Situation Centre. Deputy prime minister [...]
Strongest year-start since 2005: Brits fork out average of £255,556 on houses as prices soar February 1, 2022 Buyers are paying more than ever before for their homes with the average UK house costing 11.2 per cent more than it did last year.