Two thirds of home buyers in London getting help from Bank of Mum and Dad August 28, 2023 Over two-thirds (67 per cent) of all homeowners in London receive parental support to purchase their homes, a report released by Legal and General (L&G) has shown. ‘Bank of Family’ recipients in London received £30,200 on average to support their transaction, only beaten by those in the East of England who received an average of [...]
ULEZ expansion ‘not the answer’: Rebel boroughs Harrow and Bromley warn Khan of impact on ‘poorest and vulnerable’ February 7, 2023 Harrow and Bromley councils have responded to a letter from Sadiq Khan over the expansion of ULEZ, warning of its impact on the poorest. Harrow councillor Paul Osborn wrote to Khan earlier this week, reiterating that the expansion of the ultra-low emission zone (ULEZ) to include the whole of Greater London was “not the answer” [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]
Investors hope for US jobs market slowdown to appease Federal Reserve November 27, 2022 Signs of a further slowdown in the US jobs market convincing the Federal Reserve to slow its interest rate hike cycle will top investors’ wish list this week. London’s FTSE 100 index notched a decent showing last week, climbing 1.37 per cent to close at 7,486.67 points, while the domestically-focused mid-cap FTSE 250 index rose [...]
Pace of house price growth slows as average price hits new record of £271.6k June 30, 2022 House prices saw a slight slowdown in growth this month as the price tag of an average UK home hit a new record of £271,613. According to the Nationwide House Price Index, published on Thursday morning, UK annual house price growth slowed to 10.7 per cent in June. This was a subdued pace of growth [...]
Inflation overshoot spooks investors as FTSE 100 house builders tumble August 17, 2022 London markets were shaken today by concerns that inflation is firming in the UK as housebuilders suffered heavy losses on the prospect of more rate hikes. The capital’s premier FTSE 100 index dropped 0.27 per cent lower to 7,515.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
MPs pile pressure on banks as savings offers lag interest rate hikes June 8, 2023 MPs said that lenders must “up their game” and pass on higher rates to savers as bank bosses responded to an inquiry on the “measly” rates on offer. The influential Treasury Committee pointed to low rates on offer for easy access accounts across the UK’s ‘scale challengers’, Nationwide, TSB, Virgin Money and Santander. According to [...]
Persimmon hands £750m to shareholders so far this year August 17, 2022 Persimmon, one of the UK’s largest housebuilders, has handed £750m to shareholders since the beginning of this year as the country’s housing market booms. The average selling price of a home has grown by a little under £10,000 over the past 12-months. “House prices have proved remarkably robust since the pandemic began, buoyed by pent-up [...]
Weekend read: Britain’s buy-to-let landlords claim £18.5bn in tax reliefs despite mortgage interest changes April 10, 2022 The amount UK buy-to-let landlords claimed in tax reliefs increased to £18.5bn in the last year, up from £18.1bn the year before, according to new research shared exclusively with City A.M. this morning. The amount claimed increased despite a reduction in the amount of relief that landlords can claim on the interest that they pay [...]
Bank of England expected to raise interest rates by 50 points to post financial crisis high of four per cent January 26, 2023 The Bank of England is set to hike interest rates 50 basis points to four per cent next week, jacking them up to the highest level since the financial crisis, markets expect. City traders reckon its governor Andrew Bailey will lift borrowing costs for the tenth time in a row, something the UK central bank [...]