Lloyds Bank boss warns of ‘heightened’ Russian cyberattack threat February 24, 2022 The boss of Britain’s biggest mortgage lender today sounded the alarm on potential Russian cybersecurity attacks after Vladimir Putin ordered a full-blown incursion of Ukraine in the early hours of this morning. Charlie Nunn, chief executive of Lloyds bank, said the lender’s top team have “been on heightened alert” to spot any Russian interference with [...]
Exclusive: More than 9m Britons hope to acquire their first home or buy a new property this year January 22, 2022 One in five UK adults plan to buy a property in 2022, according to a new study that was exclusively shared with City A.M. this morning. new research from Market Financial Solutions (MFS) has revealed. The bridging lender commissioned an independent survey among more than 2,000 UK adults. It found that 18% intend to purchase property this [...]
doceo Watch List July 5, 2022 Discount Watch: 9 That’s the number of trusts whose discounts hit 52-week highs over the last seven days – an improvement on last week’s 14. Of the nine, three make an appearance for the second consecutive week: UK investor Diverse Income Trust (DIVI); Baillie Gifford European Growth (BGEU); and European big box investor Tritax EuroBox (EBOX). Sector-wise, property and private equity [...]
Hong Kong’s Covid-19 battle has ‘brain drained’ economy as house prices are forecast to fall March 30, 2022 While some restrictions are due to be eased next month, Hong Kong’s battle with Covid-19 will fuel a shrinking economy and plunging house prices, according to Goldman Sachs economists. House prices are forecast to fall around 20 per cent over the next four years, falling five per cent every year, while mortgage rates are expected [...]
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Knight Frank: UK house price growth will peak as cost-of-living climbs April 13, 2022 UK house price growth is thought to have peaked and will begin its descent away from record figures as the cost-of-living crisis in the country swells, researchers at Knight Frank forecast. With runaway inflation and rising energy bills, the list of obstacles in front of house buyers has continued to grow exponentially since the pandemic. [...]
Property deposits for first-time buyers swell over 50 per cent in last decade April 11, 2022 The average deposit for first-time buyers has rocketed more than 50 per cent over the last 10 years – even after adjusting for inflation, according to a new study. As homeownership falls further out of reach for first timers, those trying to get on the property ladder must have a deposit of more than £45,500, [...]
Cladding bill nears £2bn mark as Bellway, Vistry and Countryside Partnership pledge to fix homes April 7, 2022 Housebuilders’ pledges to repairing unsafe cladding has neared a bill of £2bn as Bellway pledged £485m to fix homes on Thursday. According to analysis from AJ Bell, the total bill now stands at £1.8bn, with FTSE 100 developer Berkeley yet to declare how much it will provide. The department for levelling up, housing and communities [...]
Interview: Former rate setter Andrew Sentance on Governor Bailey’s ‘off the cuff’ remarks and where the BoE went wrong March 16, 2022 It is often a mark of how dire an economy’s situation is when incremental rises in interest rates hit the front pages. The worst cost of living crunch in a generation has, however, sent the Bank of England to the front of many households’ minds. Those outside of the City care less about the vagaries [...]
HSBC profits slide on looming inflation default wave April 26, 2022 A deterioration in borrowers’ credit worthiness caused by a historic cost of living squeeze prompted Britain’s biggest lender HSBC to set aside millions of pounds to deal with a rise in defaults. The bank, which sources a large proportion of its profits from China and Asia, banked $600m (£470m) in reserves to cope with a [...]