Finance
Tax advisor fined over Stamp Duty avoidance advice
Cornerstone's David Hannah has been ordered to pay a total of £60,000 for "failing to properly assess and communicate" the risks of a Stamp Duty avoidance scheme in 2007.
Mortgage approvals sank to a record low mid-lockdown, unsurprisingly
With surveyors unable to visit properties, a mere 9,300 approvals for house purchase were recorded by the BoE in May, 90% below pre-pandemic levels
Lenders cut bonuses from mortgage sums
Many mortgage providers are refusing to take variable bonus and commission payments into account when doing affordability calculations, or are ratcheting down the proportion they will lend against variable…
Tech has helped restart the resi market; so what happens now?
Businesses able to quickly adapt to the post-pandemic era will thrive, whilst those that don’t will fall by the wayside – regardless of history or reputation, warns Stuart Cheetham...
Mount Anvil secures £50m loan from GLA
Partnership is the first of its kind between the Greater London Authority's landowning company and a private developer
Mortgage lending ‘fell off a cliff’ in April
Latest BoE figures show just 15,800 approvals for house purchase across the entire month, 80% down on February and around half the number recorded in the depths of the GFC
Coronavirus mortgage payment holiday to be extended
Struggling borrowers will be able pause or reduce mortgage payments until 31st October.
Maslow launches a Loan Book Liquidity Fund
“The pandemic has caused companies to relook at their business models," says development finance firm Maslow Capital.
Covid-19 has ‘brought to an immediate halt the unbroken upward trend in global HNW growth over the past decade’
Dollar millionaires now control nearly a third of the world's total private wealth, reports Wealth-X, after "a decade, and more, of plenty" - a period that has been ended by the pandemic.
New £100m property fund launches, focused on international luxury developments
M Capital is being launched next month by Montague Property founder Thomas Balashev, Dylan Mitchell of Worldwide Property Company, and Mattias Sandvall of Sandvall Invest.
Pensions are worth more than property for the first time
The average UK house price is now £230,000, while the average final salary pension pot is worth £233,000...
Mortgage approvals sink to seven-year low
Latest stats from the Bank of England show just 56,200 approvals for house purchases were recorded in March - the fewest since March 2013