Category: Finance

A guide to light and heavy refurbishment

Finance, Funding, Investment

In a piece for Bridging and Commercial, Dan Standing – regional development manager at Shawbrook Commercial Mortgages – reports that professional investors are increasingly turning to short-term loans to facilitate a quick purchase, a development exit or finance to carry out works to the property — both on a light...

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HNW individuals lose confidence in high street banks

Finance

High net worth (HNW) individuals are struggling to secure credit from high street banks, according to new research from Butterfield Mortgages. The study revealed that 79% of HNWs find the process of applying for a mortgage with a bank too rigid, saying they apply “tick box” methods that fail...

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Smaller firms less alert to invoice scams

Finance, Economy

More than four in 10 businesses in the UK are unaware of the risks posed by invoice fraud, according to a survey by UK Finance. There were 3,280 invoice and bank mandate scam cases involving businesses over 2018, costing firms almost £93m. Some £29.6m of the money lost to...

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Invoice finance returns to growth in H2 2018

Finance, Economy

Invoice finance and asset-based lending returned to growth in 2018, according to analytics software provider Equiniti Riskfactor. After two consecutive quarterly declines in the first half of 2018, total advances at the end of December 2018 totalled £22.7bn, up over £100m on the previous quarter and up 2.4% on...

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First-time buyer figures fall in February

Finance, Property, Economy

The latest data from e.surv suggests that mortgage approvals fell by 0.5% in February as lending to small deposit borrowers reduced slightly. Richard Sexton, director at e.surv, remarked: “While confidence has fallen in the housing market due to economic and political turbulence, the mortgage market continues to grow.” He...

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New governing body to replace FRC

Finance

The Financial Reporting Council (FRC) is to be replaced by a new regulator, the UK government has announced. The Audit, Reporting and Governance Authority will have enhanced powers and be able to make direct changes to accounts, instead of applying to court. The government said it wants new “strong” leadership...

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FCA warns Provident Financial bidder

Finance, Economy

Non-Standard Finance has been warned by the Financial Conduct Authority that its plans to shake up Provident Financial if it succeeds with its £1.3bn hostile bid must not result in customers being exploited for higher profits. The FCA said borrowers’ rights must be protected and lending rules cannot be...

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Increase in remortgage approvals

Finance

Research by Moneyfacts has found that lenders are responding to an increase in remortgage approvals with increasingly competitive rates. Bank of England data shows that remortgage approvals were up from 48,900 in November to 50,400 December 2018. In response, the average two-year fixed rate now stands at 2.49%, down...

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Avamore report reveals dip in development rates

Finance, Economy

The latest Avamore Capital Market Bulletin reveals interest rates for development finance fell to 0.72% per month in Q4 2018. The study expects rates to decrease further due to reduced LTCs and GDVs. Average LTCs and LTGDVs for Q4 2018 stood at 82% and 66% respectively. The study — which included responses...

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New body officially named

Finance

The Single Financial Guidance Body has been officially named the Money and Pensions Service. The organisation brings together the services currently delivered by the Money Advice Service, the Pensions Advisory Service and Pension Wise. The amendments were laid before Parliament today and the body, under its new name, is...

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