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House price growth ‘lowest since 2013’

Annual house price growth slowed to 6.8 per cent in January, its lowest level since November 2013, according to the latest house price index from Nationwide.

Annual growth fell from 7.2 per cent in December, and marks the fifth month in a row in which it has dropped.

The average house price in January was £188,446, up from £176,491 a year ago.

On a monthly basis, prices have risen by 0.3 per cent.

Nationwide chief economist Robert Gardner says: “Annual house price growth continued to soften at the start of 2015. This is unsurprising given the slowdown in housing market activity in recent months.

“The number of mortgages approved for house purchase has been around 20 per cent below the level prevailing at the start of 2014 and surveyors continue to report subdued levels of new buyer enquiries.”

Gardner adds that if the economic backdrop continues to improve, activity in the housing market is likely to gain momentum in the coming months.


Pension freedoms ‘second line of defence’ extended to trust-based schemes

The ‘second line of defence’ additional protection for pension savers announced by the FCA this week will be extended to trust-based schemes, the Government has confirmed. Yesterday, the FCA wrote to the CEOs of pension providers revealing it will be adding new rules to compel providers to challenge customers over their decisions when accessing pension […]


Nic Cicutti: Hoban’s ‘burger flipper’ comments shaped professionalism debate

A few years ago, I recall having a robust online discussion with a group of financial advisers who disliked my slightly aggressive tone towards one of their peers. Indeed, my vigorous debating style managed to rile former Money Marketing columnist Alan Lakey so much that he was moved to tell me: “I am sure you […]

Compliance tip of the week: Getting to grips with Gabriel report

Question: In box 13 of section D1 of the Gabriel report, it is mentioned that additional own funds might be required for professional indemnity insurance purposes. How would I know whether I have to hold additional capital in this way? Answer: If you have an excess of more than £2,500 for mortgage and general insurance […]


Ex-RBS lawyer and former MP join Consumer Panel

The Financial Services Consumer Panel has appointed former Royal Bank of Scotland lawyer Mark Chidley and former Labour MP Kitty Ussher to the panel. The pair will begin their three-year terms as members of the panel on 1 February. Ussher was the Labour MP for Burnley from 2005 to 2010, and served as economic secretary […]


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