Landlord game looks beautiful

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Landlord game looks beautiful

No wonder the landlord game looks beautiful, says Anne Ashworth
YouGov research for the Countrywide estate agency group reveals that 11 per cent of those whose recent mortgage applications were rejected did not receive the courtesy of an explanation. More proof, as if it was needed, that the banks want nothing to do with many homebuyers.
The Times Bricks and Mortar,  p. 2
 
 
Is it time to join the buy-to-let bonanza?
Lenders have advanced about £12 billion in buy-to-let mortgages so far this year, figures from the Council of Mortgage Lenders (CML) show. Although the amount of buy-to-let lending this year is still a third of its peak in 2007, sums borrowed by landlords this year are considerably higher than in 2011.
The Times Bricks and Mortar,  p. 6-7
 
 
Remortgage lending boost
The total amount that was lent to re-mortgaging homeowners increased by 23 per cent from September to October, reaching £4.1 billion, as borrowers took advantage of rock-bottom rates on new home loans.
The Times Bricks and Mortar,  p. 3
 
 
Lloyds aims to sell £1.2bn of distressed debt
News analysis on Lloyds Banking Group preparing to sell £1.2bn of distressed mortgages tied to European real estate, as it continues its push to exit the continental property market.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets,  p. 17
 
 
Don’t let banking lobby kill reforms, warns King
Sir Mervyn King warned yesterday that a lack of clarity in the forthcoming banking bill could allow the financial lobby to wreck the ring-fence reforms. Giving evidence to the Parliamentary Commission on Banking Standards, Sir Mervyn said that the legislation risked putting the onus on regulators to outline what financial activities should be permitted within the retail bank ring-fence.
The Independent,  p. 57
Also appeared in : The Daily Telegraph Business,  p.1, Independent i,  p.48
 
 
Bank favourite exposes split over ringfencing
Paul Tucker, the Bank of England deputy governor who is frontrunner to succeed Sir Mervyn King next year, has clashed with his boss, saying he does not want the full separation of retail and investment banks.
The Guardian,  p. 37
Also appeared in : Financial Times,  p.3, The Times,  p.51, The Times,  p.55
 
 
MEMOS INDICATE SOCIÉTÉ GÉNÉRALE CONSIDERING OUTSOURCING 400 JOBS
The large French bank Société Générale is considering outsourcing 400 back-office jobs at its corporate and investment bank, according to internal memos seen by Reuters.
International Herald Tribune,  p. 20
 
 
The world’s chance to claw back trillions in tax
A comment piece claiming the world is seeing the first stirrings of an emerging new architecture of global transparency in taxation which could, if pushed forwards, help governments for the first time raise serious revenues from the estimated $21-32 trillion sitting offshore.
The Guardian,  p. 44
 
 
Investors must search for the next financial blind spot
Gillian Tett comments on the Financial Stability Board’s report that called for more oversight of the shadow banking world and its $67tn of assets.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets,  p. 30
 
The above articles appeared on 23\11\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.
 
Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.