95% mortgage plan under strong attack

95% mortgage plan under strong attack

Boris Johnson’s suggested return to 95% mortgages for first time buyers has come under strong attack from economist Josh Ryan-Collins. Head of Finance and Macroeconomics at University College London, Mr Collins believes that the introduction of such mortgages will bring about ‘inevitable house price inflation’. Affordability problems He said: “To say we have been here …

Britain’s housing market surges

Britain’s housing market surges

Britain’s housing market surged in September with house prices soaring by 7.3% and mortgage applications hitting a 12 year high. House price figures from Halifax showed the steepest annual increase since June 2016 with the average property price reaching £249,870. Substantial gains Russell Galley, Halifax’s managing director, said: “September saw a third consecutive month of …

Negative interest rates ‘could be beneficial’

Negative interest rates ‘could be beneficial’

A second Bank Of England official has claimed that negative interest rates could be beneficial to the UK economy in the fight against the effects of the coronavirus pandemic. Professor Jonathan Haskell is an external member of the Bank’s Monetary Policy Committee (MPC) which is responsible for setting the country’s base interest rate. Positive evidence …

Pensions being raided at ‘unsustainable levels’

Pensions being raided at ‘unsustainable levels’

British savers are being warned that they are taking cash from their pension pots at ‘unsustainable levels’ and risk not having enough money to see them through their retirement. Latest data from the Financial Conduct Authority (FCA) reveals that savers with smaller pots – typically between £10,000 and £100,000 – were taking money at high …