News

UK banking system resilient to no-deal Brexit

Brexit

The Bank of England’s latest Financial Stability Report maintains that the UK banking system remains resilient to the financial impact of a worst-case disorderly Brexit. The Bank warned that the “perceived likelihood” of a no-deal Brexit had increased since Theresa May’s resignation, which would bring with it “material risks...

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P2P lenders braced for fee hikes

Finance

The Financial Conduct Authority (FCA) has confirmed its annual funding requirement for 2019/2020, revealing that it will need £558.5m from all regulated firms – up from £543m last year. Peer-to-peer lenders are among those financial services firms preparing for a bill hike this month. The regulator has proposed a...

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FSCS rebate for 4,500 firms

Finance

The Financial Services Compensation Scheme has announced that more than 4,500 companies will not pay its levy in 2019/20, with these each instead receiving a rebate, with the average payout at £139. Analysis shows that 46,000 companies across the financial services industry will pay the levy in 2019/20, with...

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Younger generation takes interest in P2P lending

Economy

A new report from data specialists CACI shows an increased interest from the younger segment of the population in P2P lending, with over a third of web searches for the term coming from the youngest four population groups in the first quarter of the year. The report suggests this...

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Buy-to-let investors putting expansion plans on hold

Property

A new survey suggests only a fifth of property investors would add to their buy-to-let portfolio over the next 12 months. The study by Benham and Reeves assessed investor sentiment in the property sector amid tax and regulatory changes, with 83% of those polled saying they were unlikely to...

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Anger over SME mistreatment is misplaced

Finance

MoneyWeek’s David Prosser says that much of the anger over the Financial Conduct Authority’s investigation into the treatment of small businesses by Royal Bank of Scotland is misplaced. He points out that small business lending is still not within the FCA’s remit. For victims of the RBS affair, the...

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Mortgage lending hits three-year high

Brexit

Mortgage lending rose to its highest level since the Brexit vote last month, as families shrugged off economic uncertainty. Figures from UK Finance show a total of 49,683 mortgages were agreed in May, up 9.1% on a year earlier, and the highest level since June 2016. Overall, £14bn was...

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Accessing Funding in 2019

Funding

With many things seeming uncertain at the moment, we are still busy helping SME businesses to access funding in 2019 and wanted to share some thoughts with you. It has been split into 4 sections as below:- The process of obtaining funding Whilst funders try to move quickly, it...

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