Economic Review June 2019
BANK CUTS GROWTH FORECAST The Bank of England (BoE) has reduced its growth forecast for the UK economy amid growing concerns over global trade tensions and fears of a no-deal Brexit. In its latest policy statement, the BoE said it now expects economic growth to be flat during the second quarter of this year, a […]
Property Market Review June 2019
SUBDUED Q1 FOR SCOTTISH COMMERCIAL PROPERTY During the first three months of the year, commercial property sales in Scotland totalled £763m, this is a decrease of 21% (£203m), when compared to Q1 2018. The research from the Scottish Property Federation (SPF), has identified that the fall can primarily be attributed to fewer high value transactions, […]
Economic Review May 2019
UK GROWTH BOOSTED BY STOCKPIILNG The UK economy benefited from a sharp one-off boost to growth in the first quarter of the year as manufacturers stockpiled ahead of a Brexit that never came. Data released by the Office for National Statistics (ONS) revealed that gross domestic product (GDP) rose by 0.5% during the first three […]
Property Market Review May 2019
CALLS FOR A COMPULSORY ‘SNAGGING RETENTION’ ON NEW BUILDS A recent survey by New Home Review has revealed that more than nine out of 10 new-build homes in the UK have defects and almost 40% of new builds fail to meet their original deadline. Following on from this, the HomeOwners Alliance have launched a campaign […]
Planning your pension in the new world of work
Not long ago, work meant a 9-to-5 role, probably spent with the same employer and ending abruptly when you reached retirement age. Things are very different today. People tend to move jobs more frequently and many more of us are self-employed, thanks to the rise of the gig economy. Those past State Pension age are […]
Economic Review April 2019
STOCKPILING BOOSTS UK ECONOMY The UK economy grew more strongly than expected in February as ‘pre-Brexit’ stockpiling provided a boost to the monthly rate of economic growth. Official gross domestic product (GDP) data released by the Office for National Statistics (ONS) has revealed that the economy expanded by 0.2% in February. While this does represent […]
Property Market Review
PRIME LONDON PROPERTY INVESTMENT RISES BY 28% IN Q1 2019 London’s West End and the City welcomed investment of £3.2 billion in the first quarter of 2019, which eclipsed the £2.5 billion investment seen in the same quarter of 2018, according to data released by Savills. They went on to add that investment volumes in […]
Over-55s feeling the pinch from being the ‘bank of mum and dad’
The Bank of Mum and Dad plays a major role in the housing market but providing support could leave them feeling the pinch as they approach retirement. Recent research1 found that 17% of parents felt they either would be, or already are, worse off as a result of providing financial assistance to loved ones. It […]
Economic Review March 2019
INTEREST RATES REMAIN ON HOLD The Bank of England (BoE) has once again left interest rates unchanged while reaffirming its belief that near-term monetary policy will remain inextricably linked to Brexit. All nine members of the Monetary Policy Committee (MPC) voted to leave rates on hold following their latest meeting on 21 March. This marks […]
Time to top up your ISA?
If you’re planning to save into your ISA this tax year, don’t leave it too late and miss out on this great way to save tax-efficiently; remember you can’t carry any unused allowance over to the next tax year, so timing is important. The ISA allowance for the 2018-19 tax year is a generous £20,000 […]