Posts by Allen Walkey
Barclays fixed mortgage rate cuts from today
Contrary to predictions by George Osborne pre the EU referendum vote that borrowing costs would rise if we voted to leave the EU, rates are actually now falling after the vote to “Brexit”. Barclays is cutting mortgage rates from today across its two, three, five and 10-year fixed, low LTV range. Two-year fixed at 1.35%,…
Read MoreHalifax (HPI) June 2016
Halifax House Price Index released today for June 2016 headlines Annual house price growth eases to 8.4%. Prices in the three months to June were 8.4% higher than in the same three months of 2015 House prices in the last three months (April-June) were 1.2% higher than in the preceding three months. Martin Ellis, Halifax…
Read MorePossible cut to UK interest rates next week.
Analysts are expecting lower interest rates to come as early as next week, a new low of 0.25% can now be expected in an attempt to boost a flagging economy post “Brexit”. In the immediate wake of the referendum result last week, Governor of The Bank of England, Mark Carney has hinted at further stimulus…
Read MoreProperty funds suffer in UK while banks suffer in Europe
The Bank of England governor, Mark Carney, has given UK banks the green light to lend an extra £150bn to households and businesses, he warns that the Bank of England cannot offset the full impact of the Brexit vote. Investors in Standard Life’s property funds have been told that they cannot withdraw their money, after…
Read MoreAre Housebuilders Being affected by “Brexit”?
Property stocks dropped on Tuesday with real estate investment trusts dropping after Standard Life Investments suspended trading in a real estate fund and housebuilders slumping on worries about the sector’s outlook after a Brexit. Taylor Wimpey share price dropped almost 10p down to 121p, Brexit has provided media with the opportunity to turn a drama…
Read MoreTough times for the over 50’s in the property market.
In a recent Homewise Blog they highlight that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages and facing the prospect of clearing their debt when the deal runs out, this according to new research carried out by the retirement property experts Homewise. Its independent research among over-55s paying…
Read MoreFinancial stability report from Mark Carney Governor (BoE)
The Bank of England Governor speaks on the financial stability report this morning, potentially laying out plans to deal with any issues that may arise as a result of the Brexit vote on 23 June. Financial stability report July 2016. Governor’s opening remarks. Today, I want to outline how the Financial Policy Committee (FPC) is…
Read MoreMarkit/CIPS UK Construction (PMI) June
News release yesterday Markit/CIPS UK Construction Purchase Managers Index (PMI) headlined: UK Construction PMI signals weakest performance for seven years in June. Data collected 13-29 June Key points: Construction output falls at fastest pace since June 2009. Sharp reversal in residential and commercial activity. Incoming new work declines at steepest pace since December 2012. To…
Read MoreLandmark ruling over negligent valuation report.
The Court of Appeal has recently overturned a decision of an earlier hearing in the Chancery Division, in which the Court ruled that the loss to Tiuta International Limited should be limited to the amount lost in ‘topping up’ the original loan (c£272,700). The Court found in favour of an appeal from Tiuta International, a…
Read MoreRequest to abandon Land Registry Privatisation.
A report out late last week by The Guardian stated that over 60 MP’s have signed a letter to the Government asking them to call off their controversial plans to privatise the Land Registry. The letter written by Labour MP, David Lammy, is supported by cross party MP’s, The Guardian reported that the letter warns…
Read MoreWales leads the way.
I suspect many of you who saw the Welsh flag at the head of this Breaking News item would have thought you were going to get another report on what can only be described as one of the greatest games of football in British fooballing history last week, Wales against Belgium, well you are not,…
Read MoreOverseas property after Brexit
Brexit appears to be a nailed on certainty from here on, even though article 50 needs to be invoked by the government in power and from what we are hearing from the media this will not happen until we have a new Prime Minister in place, even then there will be negotiations that will take…
Read MoreBoris withdraws from Leadership Race
The big surprise yesterday was that the staunch favourite Boris Johnson withdrew from the Conservative Leadership race and that his partner in the Leave campaign Michael Gove entered it. Yesterday (Thursday) marked the deadline for politicians to enter their bids for the leadership race. The 1922 committee announced the five official candidates. They are: Theresa…
Read MorePound drops further following speech.
Mark Carney in his Bank of England (BoE) speech yesterday said that following the Brexit vote there probably would be need for ‘some monetary policy easing”, this had an immediate effect on the pound sterling which fell again against major currencies. Carney in his speech to business leaders reportedly said “In my view, and I…
Read MoreMortgage approvals down on the average in May
The Money and Credit statistical release for May 2016 released yesterday by the Bank of England (BoE) stated the following re Mortage Approvals: The number of loan approvals for house purchase was 67,042 in May, compared to the average of 70,598 over the previous six months. The number of approvals for remortgaging was 42,919, compared…
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