Record London rents keep up investor profits November 15, 2012 LONDON rents hit another record high in October as landlords celebrate solid returns on investment, according to the LSL buy-to-let index published today. Average monthly rents in the capital jumped 0.9 per cent to £1,102, breaking the £1,100 mark for the first time. That represents a seven per cent hike on the year, and holds [...]
Reach new heights July 25, 2013 Growing pressure on open spaces in the capital has created a surge of interest in properties with roof terraces. Naomi Mdudu rounds up the best on the market. Kensington Roof Gardens, Boundary, Soho House: us Londoners are suckers for a rooftop terrace. Great views over the city and a relaxing spot to indulge in a [...]
Santander hit by rise in bad Spanish loans October 25, 2012 PROFITS plunged at Santander as ever more Spanish loans turned bad in the country’s ongoing recession, the bank’s third quarter results showed yesterday. The Spanish bank’s UK arm performed more strongly, though it too was slowed by shipping loan problems, increased provisions against corporate debt it bought in the credit crunch, and a cost from [...]
Mortgage lending booms in July as market strengthens September 12, 2012 A JUMP in loans to home movers outweighed a slip in lending to first-time buyers, data from the Council of Mortgage Lenders revealed yesterday, leading to an overall increase in mortgage market lending. There were 30,500 loans made to homeowners moving house in July, up 8.2 per cent from June, together totalling £5.1bn, again up [...]
Mortgage lending booms in July as market strengthens September 12, 2012 A JUMP in loans to home movers outweighed a slip in lending to first-time buyers, data from the Council of Mortgage Lenders revealed yesterday, leading to an overall increase in mortgage market lending. There were 30,500 loans made to homeowners moving house in July, up 8.2 per cent from June, together totalling £5.1bn, again up [...]
More homes would make climbing the second step easier September 9, 2012 GETTING a foot on the property ladder is hard. But, taking the second step could be even harder. Agonising market conditions mean that it could now be the most challenging time to be a “second stepper” in years. Research shows that a first-time buyer stays in their first property for around four years. Since the [...]
Just 250 homes sold through government’s NewBuy scheme September 27, 2012 JUST 250 houses have been sold through the government’s flagship scheme to help first-time buyers onto the property ladder, figures revealed yesterday. The NewBuy programme offers mortgage guarantees to purchasers of new-build homes, even if they can only raise a five per cent deposit. Then-housing minister Grant Shapps had said that 100,000 households will be [...]
Terry Smith attacks plan to use pensions to secure mortgages September 25, 2012 LEADING City fund manager Terry Smith yesterday called Nick Clegg “brain dead” after the Deputy Prime Minister announced plans to allow children to guarantee mortgage deposits using their parents’ pension pots. The multimillionaire Tullett Prebon boss criticised the policy, which would enable first-time buyers to secure part of their house loan on a relative’s savings. [...]
International money bolsters central London property boom August 27, 2012 INTERNATIONAL cash is flooding into the London property market, as foreign buyers capitalise on weak sterling, a report released today by Cluttons claims. The property consultants predict a 3.2 per cent annual increase in prime central London house prices, driven by cash buyers – in turn driven by the weak pound. Compared to the 2007 [...]
No shortage of literature for banking bookworms this month October 23, 2012 RECENT City A.M. award winner and property giant Westfield welcomed the Prime Minister’s wife to their Shepherd’s Bush store yesterday. Samantha Cameron, ambassador of Save the Children, gave a special reading of The Snail and the Whale at Foyles Bookstore to a group of children from Larmenier & Sacred Heart primary school. But for grown-up [...]