Mortgage lending rises sharply in September for the fourth month in a row October 22, 2015 The amount of mortgage lending to UK homebuyers jumped by 12 per cent in the year to September as rising employment and earnings growth helped keep confidence levels high. Gross mortgage lending reached £20bn in September, up from £17.8bn the same time last year and two per cent higher than August’s lending total of £19.7bn, [...]
Focus On Acton: Ealing’s up-and-coming neighbour in London’s property market November 2, 2015 For years, Acton has been seen as the poor relation of more affluent or trendy neighbours like Chiswick or Ealing. But it’s a place of mixed perceptions that’s only going to go up in the world. The name comes from the old English for “oak farm”, alluding to the time it was a rural part [...]
Housing supplier Bellway splashes out £355m on sites as demand shows no signs of slowing February 10, 2015 House builder Bellway is betting on sustained demand in the UK housing market after announcing it has significantly increased its purchases of land in the last six months. The company spent £355m on sites it has identified as attractive investments with recent purchases focussing on the home counties, with sites in Basingstoke and Kings Hill [...]
With over 85 per cent of Northern Rock assets back in private hands, has Britain now recovered from the financial crisis? November 15, 2015 James Butterfill, head of research & investment strategy at ETF Securities, says Yes. One key measure to ascertain if this is true is to look at the growth in household take home pay after inflation. After the initial crisis in 2009, take home pay fell and its growth stayed negative for most industry and government [...]
Nectar profits collapse as supermarket price war takes its toll on loyalty cards October 18, 2015 Profits have tumbled at Britain’s biggest loyalty card provider, Nectar. Aimia Coalition Loyalty UK, Nectar’s parent company, said that pre-tax profits fell to £14.1m for 2014, from £74.4m the year before, due to a rise in people cashing in their points, while collecting fewer. The company warned that if people continued to redeem points then [...]
City Moves for 24 September 2015 | Who’s switching jobs September 23, 2015 ALLIANZ GLOBAL CORPORATE & SPECIALTY Brian Kirwan has been appointed chief executive of Allianz’s UK corporate and specialty insurance business. He joined the company in 2011, and was most recently regional unit London head of market management and communications. Kirwan has also previously held executive positions in the Allianz risk transfer division. LEGAL & GENERAL [...]
The Big Short interview with director Adam McKay: “Outrage with banks comes naturally… they’re street hustlers” January 22, 2016 The Oscar-nominated director of financial film The Big Short, Adam McKay, wasn't afraid of throwing the cat among the pigeons when I caught up with him yesterday. On the eve of his latest film's release he launched a stinging attack on Wall Street, branding bankers “street hustlers” and labelling the SEC’s response to the crisis “disgusting”. [...]
London house prices: Flats in the capital cost 67pc more than in 2005 and are set to keep climbing September 23, 2015 London flat prices have outstripped every other property type in every other region of the UK over the last decade, according to research published by a major mortgage provider this morning. Affordability is set to continue falling as data from HMRC yesterday showed the market was hotting up with 106,480 homes sold during August – [...]
From the Personal Savings Allowance and Dividend Allowance to the Help to Buy Isa, how can savers make the most of their Isa this tax year? March 15, 2016 The world of Isas was once a sleepy one. At every Budget, the chancellor would typically increase the amount you could contribute each tax year by some measure of inflation. You had a simple choice between putting that money into a cash or a stocks and shares Isa (or a slightly restrictive combination of the [...]
£1bn IPO is finally on for retirement housebuilder McCarthy & Stone October 14, 2015 After years of rumours, retirement housebuilder McCarthy & Stone finally announced its intention to float on the London Stock Exchange today, an IPO which City A.M. understands could give the company a valuation of £1bn. McCarthy & Stone, which said it has a 70 per cent share of the UK's owner-occupied retirement property market, hopes to [...]