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UK house prices rise 1.6% in July – Halifax

By Michael Griffiths

07/08/2020

UK house prices in July were 1.6% higher than they were in June, according to new data published in the latest Halifax House Price Index.

Halifax revealed that the average house price in July was the highest it has ever been since its Index began, reaching 3.8% higher than the same month a year ago

Stonebridge has unveiled new developments to its wholly-owned trading platform, Revolution, with a focus on its Introducer Portal

more2life refreshes lifetime mortgage offering

more2life has announced the launch of a refreshed “Tailored” plan range to support older borrowers with flexible lending solutions

74% drop in second charge mortgage business

The second charge mortgage market saw a 74% annual fall during June as £27m in new business was conducted, new figures published by the Finance & Leasing Association (FLA) have revealed

Mortgage Brain’s ESIS totals enjoy July growth

Mortgage Brain has reported that it saw more ESIS generated through its sourcing systems in July than any other month so far in 2020

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UK house prices rise 1.6% in July – Halifax

UK house prices in July were 1.6% higher than they were in June, according to new data published in the latest Halifax House Price Index. Halifax revealed that the average house price in July was the highest it has ever been since its Index began, reaching 3.8% higher than the same month a year ago

Rightmove reports that village enquiries double

More homebuyers currently living in some of the biggest UK cities are planning to move to village locations, according to new analysis from Rightmove

74% drop in second charge mortgage business

The second charge mortgage market saw a 74% annual fall during June as £27m in new business was conducted, new figures published by the Finance & Leasing Association (FLA) have revealed

Criteria searches remain affected by lockdown – Knowledge Bank

Broker criteria searches in July provided strong indicators that the housing market is still being affected by lockdown, according to Knowledge Bank

IHT receipts fall for first time in 10 years

Inheritance tax (IHT) receipts fell for the first time in a decade in the 2019/20 tax year, new Treasury figures have revealed

120,000 people could be owed stamp duty refunds

More than 120,000 people may be owed compensation of up to £80,000 each, after Cornerstone Tax uncovered an industry-wide error in relation to property transfers into pension schemes

Tax rising house prices to pay for the COVID-19 crisis, think-tank proposes

Tens of billions of pounds of new taxes should be levied on increases in the value of homes to ensure the costs of the COVID-19 pandemic do not fall unfairly on younger people, a think-tank report is suggesting

June marks third highest month on record for govt borrowing

The past three months have seen the Government borrow more than double its entire borrowing amount for last year, as June marked the third highest month on record for borrowing, new figures have revealed

FCA reports concerns over credit firms’ repeat borrowing

The FCA has published new findings of a review into repeat borrowing by firms that offer high-cost credit

FCA to improve open-ended property fund structures

The FCA has announced it is consulting on plans to reduce the potential for harm to investors from the “liquidity mismatch” in open-ended property funds

FCA announces new guidance for protecting vulnerable consumers

New guidance for financial services firms to do more to protect vulnerable consumers has been announced by the FCA

Govt plans to extend Help to Buy property support scheme

The government is drawing up plans for an extension to the Help to Buy property support scheme

COVID-19 loan schemes benefitting all corners of UK

UK over-50s have average £127k tied up in property equity

Over-50s in the UK have an average £127,316 in property equity tied up in their homes, new analysis from SunLife has revealed

BoE maintains base rate at 0.1%

The Bank of England (BoE) has announced it is maintaining its base interest rate at 0.1%

Older generation financially gifting families in lockdown

Thirty-one per cent of people have suggested that giving a financial gift to children or grandchildren is more important to them since the outbreak of COVID-19, compared to just 23% before the pandemic, research from Hodge Bank has revealed

FTSE 350 pension deficit up as lockdown eases

The accounting deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies increased to £103bn on 31 July, up from £90bn at the end of June, according to new data from Mercer’s Pensions Risk Survey

£2.3bn withdrawn flexibly from pensions in Q2

A total £2.3bn was withdrawn flexibly from pensions between April and June as COVID-19 took its grip on the UK, according to new data published by HMRC

Work and Pensions Committee to investigate pension scams in first strand of three-part inquiry

The Work and Pensions Committee is to investigate pensions scams in the first strand of a three-part inquiry into the impact of the pension freedoms and the protection of pension savers

Govt ‘pours cold water’ on pension tax reform

Yesterday’s Call for Evidence on pension tax relief administration from the Treasury reiterates the Government’s position on pension tax relief and “appears to pour cold water” on recent calls for fundamental reform, according to AJ Bell

Govt confirms £1.3bn housing investment

Almost £1.3bn of investment in new homes and other infrastructure projects has been confirmed by Housing Secretary, Robert Jenrick

Metro Bank agrees to acquire RateSetter

Metro Bank has announced an agreement to acquire peer-to-peer lender, RateSetter, for an initial £2.5m

Aspen saves £325k deposit with £1.9m bridging loan

Aspen Bridging has provided a £1.9m bridging loan to a Chinese property professional, saving them their £325,000 deposit on a new build London penthouse after delays in their term finance application

Avamore Capital completes £1.3m residential bridge

Avamore Capital has completed a residential bridge worth £1.3m at an LTV of 43.9%, its sixth deal for the same borrower in 2020

COVID-19 accelerates digital transformation in FS sector – ABAKA

The COVID-19 pandemic has “drastically accelerated” a digital transformation agenda in the financial services sector, according to fintech firm, ABAKA

Wealth manager Nutmeg launches Open Banking payments

Nutmeg has become the first wealth manager in the UK to offer Open Banking payments, giving customers the option to choose faster payments directly from their bank or building society

250 advisers sign up for eKeeper’s AML reports

More than 250 advisers have signed up for anti-money-laundering (AML) and credit reports through eKeeper’s CRM in the three months since the feature was launched

OMS selects iPipeline’s AlphaTrust software

iPipeline has announced that its AlphaTrust e-Sign and document automation software has been selected by One Mortgage System (OMS) to improve its offering to mortgage brokers

Vernon launches holiday let mortgages for landlords

Vernon Building Society has announced the launch of two new holiday let mortgages up to 75% LTV in response to growing demand from landlords.

Stonebridge announces more Revolution upgrades

Stonebridge has unveiled new developments to its wholly-owned trading platform, Revolution, with a focus on its Introducer Portal

more2life refreshes lifetime mortgage offering

more2life has announced the launch of a refreshed “Tailored” plan range to support older borrowers with flexible lending solutions

Foundation widens residential range for first-time buyers

Foundation Home Loans has added five products to its residential range to provide more options for first-time buyers as well as home movers with recent credit blips

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