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Banks report 25% rise in mortgage approvals

Banks approved 25.5 per cent more loans in February than they did a year earlier, according to the British Bankers’ Association. The six high-street banking groups approved 79,428 loans last month, up from 63,248 a year ago. Purchase approvals were up 20 per cent year-on-year to 45,892, while remortgage approvals rose 31 per cent to […]

Stamp duty ‘chaos’ as landlords rush to beat deadline

Estate agents, conveyancers and landlords have been fighting to push through property deals ahead of new stamp duty thresholds being introduced for buy-to-let. As of midnight last night, those buying any property that is not their main residence, including buy-to-let investors, will be hit with a 3 percentage point stamp duty surcharge. Bold Legal Group […]

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New York Stock Exchange owner plots £10bn LSE bid

The owner of the New York Stock Exchange has secured funding from a group of American and Asian banks as it plots a £10bn bid for the London Stock Exchange, Sky News reports. According to the report, InterContinental Exchange has reached agreement with Morgan Stanley, Wells Fargo and Japan’s Mitsubishi UFJ to provide part of […]

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Investors pull £400m from funds in volatile February

Fund managers continued to feel the pain in February as cautious investors withdrew cash from retail funds. Net retail outflows hit £399m in February, the latest Investment Association data shows. In January UK funds suffered net outflows of £437m – the largest figure since the 2008 financial crisis. Targeted absolute return was the top-selling IA […]

IHT: What were you doing in 2009?

One of the best sources of new business is your existing clients and, if they are estate planning clients, regular reviews are needed because people’s inheritance tax (IHT) problems tend to only get worse. Now, not a lot of things remain at the same rate as in 2009. If we turn the clock back, it […]

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