OBR forecasts stronger growth The Office for Budget Responsibility (OBR) has upgraded its UK economic growth forecast and is now predicting the economy will return to its pre-pandemic level six months earlier than previously expected. Chancellor Rishi Sunak unveiled the independent forecaster’s revised projections during his Budget statement delivered to the House of Commons on […]
Monthly archives: October 2021
Mortgage process a mystery to many young adults
It is not only prohibitive house prices and stringent affordability criteria that are making it hard for young people to get on the property ladder. A new survey has revealed that the mortgage process is poorly understood by more than half of all young adults. In the survey1, 52% of 18 to 34-year-olds rated their […]
New investment habits set to outlast lockdown
In the past 18 months, many Britons have saved more money than usual as the closure of the economy reduced spending. Many canny investors have been channelling their savings into increased investment contributions. New research1 suggests that the majority of UK investors (76%) intend to keep up higher levels of contributions, with half saying they […]
Autumn Budget & Spending Review 2021
“An economy fit for a new age of optimism” Chancellor of the Exchequer, Rishi Sunak, delivered his third Budget and the results of his Spending Review on 27 October, declaring that it begins “the work of preparing for a new economy post-COVID.” The Chancellor struck an upbeat tone during the key fiscal event, as he […]
News in Review
“Growth is being accompanied by an unprecedented rise in inflationary pressures” A closely monitored survey, released last week, suggests the UK economy unexpectedly regained momentum during October. The preliminary reading of the IHS Markit/CIPS Composite Purchasing Managers’ Index (PMI) rose to 56.8, up from 54.9 in September. This represents the largest monthly increase since May […]
Humble mortgage overpayments add up
A boost in UK savings as a result of reduced expenditure on travel and leisure during lockdown could be the key to cutting thousands in interest and months from the terms of mortgages, according to research1. With Bank of England figures suggesting Brits saved an extra £200bn during lockdown, overpaying on your mortgage could prove […]
Working together to tackle the climate crisis
Due to be held this November in Glasgow, the United Nations 26th Conference of the Parties – COP26 – is recognised as the most important climate change event since the 2015 Paris Agreement. The summit will bring together world leaders to build on the work left unfinished by COP25. Countries are being asked to co-operate […]
Home Finance – In the news
Rising interest in equity release More than half of homeowners are interested in releasing equity from their property in later life1, with the majority aiming to boost pension income and savings or pay for care. The amount of equity available for release in British homes has also reached a record high of £730bn2, with the […]
Residential Property Review – October 2021
Supply still lagging demand Steady buyer demand and a sixth successive month of net negative new instructions, were the stand-out trends in the September UK Residential Market Survey published by the Royal Institution of Chartered Surveyors (RICS). At the national level, new buyer enquiries had a net balance of zero in September, up from -13% […]
Commercial Property Market Review – October 2021
Strong recovery for UK flex market According to Workthere research, the flexible office sector regained momentum in H1 2021 following its pandemic-induced slump, with renewed appetite for flex space in both enquires (+30% on pre-pandemic levels) and transactions (+36%). Flexible workplaces – a catchall term encompassing anything from serviced offices to fitted plug and play […]