House ownership out ways rentals

The property rental market is booming at the expense of the sales market, making it look as if house-buying will be outstripped for the first time in eight decades next year, as home-buyers face a continued struggle to find properties they can afford. Activity in the sales market has cooled since June’s Brexit vote and a lack of property for sale combined with rising prices are set to lead to more new lets than purchases, the UK’s largest estate agency chain, Countrywide, said. Johnny Morris, research director at read more

Deputy Governor for Markets and Banking at the Bank of England, says that “there is no doubt in my mind that the UK is experiencing a sizeable economic shock

Minouche Shafik, Deputy Governor for Markets and Banking at the Bank of England, says that “there is no doubt in my mind that the UK is experiencing a sizeable economic shock in the wake of the referendum". In a speech at Bloomberg’s Markets Most Influential Summit, Minouche added that “it seems likely to me that further monetary stimulus will be required at some point in order to help ensure that a slowdown in economic activity doesn’t turn into something more pernicious”. Shafik said that any need to reallocate read more

Mortgage market concerns about ‘Brexit effect’ are justified OR are they????

The government has been heavily criticized for recent calculations on the cost of a UK exit from the EU, but their focus on how this could impact mortgage availability is wholly justified, writes Pad Bamford. The UK isn’t exactly ‘on hold’ until June 23, when the result of the EU Referendum will be known, but it certainly feels like all roads lead back to the vote. As I write, sterling has taken a tumble on the back of opinion polls showing the ‘Leave’ campaign out in front by three points (now seven points) and I read more