View more on these topics

First-time buyers face repo risk as rates rise

Interest-rate rises could have a crushing effect on first-time buyers who face being hit by growing repossessions.

The Royal Institution of Chartered Surveyors says FTBs will feel the pinch of rate hikes in the coming months but buy-to-let investors will continue to meet their mortgage repayments.

Rics says that with affordability at the worst levels since 1992, FTBs will slip behind in their mortgage repayments to a greater extent than BTL investors, following the recent shock base rate rise from 5 per cent to 5.25 per cent.

The fears come as the Council of Mortgage Lenders this week revealed arrears and repossession figures for 2006.

RICS economist David Stubbs says: “January’s surprise interest rate rise is likely to soften new buyer enquiries in the coming months but those buyers who have already taken the housing market plunge could find mortgage companies knocking at their doors in the near future as affordability conditions bite.

“BTL investors will be less at risk from repossessions in the coming months. Older, wiser investors are likely to ride out periods of interest rate rises looking to the benefits of long term capital growth rather than short term rental income.”


Tenet confirms Foster Denovo sale

Tenet Group has confirmed the sale of Foster Denovo to the national IFA’s management team led by Keith Carby.The deal, first revealed in this week’s Money Marketing, sees Carby remaining as executive chairman of Foster Denovo and therefore leaving the Tenet board.Tenet says the deal was agreed amicably and helps align the Group’s companies to […]

Harrison slams Suisse

Threadneedle head of UK equities Leigh Harrison has slammed Credit Suisse for not making the most of Bill Mott during his time at the firm.Harrison, who succeeded Mott on Credit Suisse’s income funds, says the firm had one of the best fund managers working for it for the past 25 years but “singularly failed to […]

NU backs India to boost service standards

Norwich Union has revealed plans to expand its call centres in India despite its recent decision to move more jobs back to the UK.Aviva-owned NU rejects accusations it has performed a U-turn and says it is committed to its Indian operations. It says offshoring has played a key role in improvements to service levels which […]

Tech IPOs: The outlook in 2017

Ali Unwin, CTO & Fund Manager, Neptune 2016 was a weak year for technology IPOs – only 13 US venture-backed tech IPOs hit the market, in spite of fairly high public market valuations and investor appetite. Will 2017 be different, asks Neptune CTO & Fund manager Ali Unwin. Click here for article Important Information Investment risks Neptune […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm