Barratt Developments sees signs of a recovery in the property market
In line with yesterday's announcement from Persimmon, Barratt Developments has again reiterated the fact that there are signs of improvement in the UK property market with reservations per site up by over 30% compared to last year. Thankfully the company has managed to reduce its own debt load from £1.4 billion last year to £700 million this year due to the recent £720 million fundraising. It also looks as though Barratt developments is in the market for further land acquisitions, a sure sign that it believes the worst is over and the sector is now looking to move ahead.
Despite the fact that house prices have fallen by 20% since August 2007 we are starting to see a month by month recovery in prices which is slowly but surely building confidence leading to a potential snowball effect. While nobody is taking it for granted that the UK economy will power ahead in 2010, indeed many people believe it will be a difficult year, but thankfully it looks as though we can safely say the worst is over at least for the moment.
The more UK property companies which release positive statements the more confident buyers will become and the more liquidity will eventually return to the market.
National Savings and Investments pulls popular products
The NS&I (National Savings and Investments) has recently withdrawn two very popular state backed investment products from the investment arena. This comes at a time when the UK government is looking to reduce the burden on UK taxpayers and with the close relationship between the NS&I and the UK government (with the NS&I effectively financed by the UK taxpayer) the withdrawal of these products is d...Read More
Are bonuses a vital part of the UK banking sector?
After Stephen Hester commented on the fact that Royal Bank of Scotland stands to lose some of the top talent in the UK financial sector because of pay restrictions and bonus issues, many are now asking whether bonuses are indeed a vital element of the UK banking sector. While the UK government would have you believe that all bankers in the UK are "the devil in disguise" the truth is that the UK...Read More
At-risk homeowners urged to contact lenders
Immediate action is required from homeowners who feel they are at risk of having their home repossessed this year, the UK's biggest-selling consumer finance magazine has warned. This year is expected to see a dramatic rise in the number of repossessions, as homeowners struggle with rising utility bills and lenders suspend credit cards, with the Council of Mortgage Lenders (CML) predicting that the...Read More
2013 saw 1.1m people with mortgage debt 4.5 times their income
09/10/2015 More than 1.1 million people in the UK were straddled with mortgage debts more than 4.5 times their income in 2013, according to figures from the Office of National Statistics (ONS). In 2013, 1,117,000 households had mortgage debts amounting to more than 4.5 times their disposable income, which equals one in every seven houses with a mortgage. A quarter of these houses were in Lo...Read More
Bank shares rally after Basel ruling
Despite the fact that there will be an almost tripling of the required capital backing for banks around the world as results of the Basel committee ruling it seems that many investors are relieved, with the situation not as bad as many had feared. Banking shares were up around the world which has helped to support worldwide stock markets in what is a very difficult period. The problem is that o...Read More