London to face biggest changes from buy-to-let lending clampdown: As landlords brace for tougher mortgage checks, experts say investing in buy-to-let will be tougher in the capital March 29, 2016 Landlords are facing tougher rules on mortgage borrowing following an announcement from the Bank of England – and the biggest impact will felt in London, experts say. Buy-to-let has grown massively and now there are concerns about a “bubble emerging in this market,” Chancellor George Osborne said. The Bank believes overly indebted landlords pose a risk [...]
Renters to be priced out of the market by 2026 as deposits rocket 40 per cent March 10, 2016 A lot has been made of the problems first-time home buyers are having at the moment – but won't someone please think of the renters? A new report by Money.co.uk has suggested even those in the rental market could be priced out of the market by 2026 – as deposits rocket by 40 per cent to [...]
UK house price growth speeds up in January as buy-to-let stamp duty hike looms February 4, 2016 House price growth sped up in the year to January, new data showed this morning – suggesting buy-to-let investors are trying to sneak in those transactions before new stamp duty rules are introduced in April. The annual figure was up from 9.5 per cent in December and nine per cent in November, according to Halifax's house [...]
How artificial intelligence, peer-to-peer technology and blockchain are changing the insurance industry forever July 14, 2016 Just as fintech is transforming the banking world, “insurtech” has set its sights on the insurance industry. There are firms like Trov, which provides insurance on-demand and enables consumers to catalogue insured belongings. Buzzmove uses home removals data to create a new distribution model for insurance – people are more likely to renew or buy [...]
Byron avoids a grilling, serves up healthy profits for its “proper hamburgers” in 2015 March 30, 2016 Still pursuing its goal to turn the UK into a nation of "proper hamburger" lovers, Byron saw healthy growth in sales and expanded into eight new venues (mostly outside of London) in 2015. The figures Profit after tax at the posh burger chain remained flat at £4.4m, while turnover jumped by 25 per cent from £55.2m to [...]
Property of the Fortnight: Mayfair’s “upside down” house on the market for £7.25m February 23, 2016 A Californian-style party pad has entered the market in one of London’s most austere districts – and it’s a bargain at £7m, according its sales agent. The three-bedroom, six floor house in Hays Mews in Mayfair is unusual for UK buyers with its “upside down” layout, in which the bedrooms are to be found on the [...]
Forget the Treasury’s short-term Brexit paper: Put rubbish in and you’ll get rubbish out May 24, 2016 The anti-Brexit Project Fear reached its zenith yesterday. Having published a paper suggesting GDP per household would fall by £4,300 in the long term (by 2030) if Britain left the EU, the Treasury yesterday turned its guns on the short-term implications of leaving. And guess what? Research produced by a department run by a chancellor who [...]
EU referendum: Housebuilders, mid-caps, banks and retail will be the sectors worst-hit by a Brexit, says UBS March 11, 2016 The Brexit debate continues apace – and now UBS Wealth Management has waded in on the argument, pointing out some of the sectors most at risk if the UK votes in favour of leaving the European Union. The good news is fears around Brexit have already been priced into the market, said Caroline Simmons, deputy [...]
UK house prices: Prime central London rents are polarising between east and west, says Knight Frank April 6, 2016 London's prime rental market is becoming more polarised. Prices in the east are accelerating faster than those in the west as financial services tenants move closer to the City in search of cheaper rents, new research shows. Annual rental value growth in prime central London fell by one per cent in March – the lowest rate since May 2014, according to [...]
UK house prices: Mortgage lending rose unexpectedly in December February 1, 2016 The rush to sneak that house purchase in before interest rates rise continues apace: figures published by the Bank of England this morning showed mortgage lending jumped unexpectedly in December, beating analysts' expectations. Mortgage lending for house purchases rose to 70,837 in December, up from 70,424 in November. That was against analysts' expectations of a modest fall, [...]