Page 6 - Phoebus Software News Today

Mortgage approvals for house purchase in 2020 were higher than the figure recorded in 2019, according to the Bank of England’s Money and Credit statistics for December 2020. The total number of approvals for house purchases in 2020 was 818,500, while the figure was noted at 789,100 in 2019. This is despite the record low of 9,400 house purchase approvals in May 2020. Net mortgage borrowing remained strong at £5.6bn in December and effective interest rates on new mortgages rose to 1.9%, its...

27 Mar 19:32 Banking Technology News The latest news on banking technology, including fintech, artificial intelligence in banking, and digital banking. The banking industry is going through a shift from traditional to digital banking. This process involves digitisation, including automation, web-based services, and APIs, that allow users to access financial data through desktop, mobile and ATM devices. NewsNow aims to be the world’s most accurate and comprehensive aggregator of banking ...

Richard Pike (pictured), sales and marketing director at Phoebus Software Limited, added: “We have worked in the equity release market since 2007 and our proven experience in the sector is second to none. “Our relationship with Pure continues to go from strength to strength. We are hugely proud to have assisted in the launch of such a great business in 2014, assisting it grow into a market leader in its specialist area of lending, and now to be consolidating the relationship with the renew...

Welsh government raises tax on second homes By Gary Adams 21 st December 2020 3:41 pm Second homeowners in Wales face a 1 per cent increase in land transaction tax in the government’s draft budget for 2021 to 2022. This means a 4 per cent surcharge for second homes worth up to £180,000, increasing to 16 per cent for properties worth £1.6m. The Welsh government is also planning to raise the threshold at which businesses purchasing non-residential properties are ex...

The UK government may follow the Welsh lead on stamp duty and introduce a new tax hike on second homes, according to a leading tax expert. Many agents would like to see the government aim to stimulate housing market activity next year by abolishing the 3% stamp duty surcharge for buy-to-let landlords buying additional properties in England, but that is unlikely to happen. Sean Randall In fact, following the Welsh government’s decision yesterday to increase land transaction tax – the We...

The start of the year seems like an age ago. As a person whose life is spent meeting and interacting with people, having worked from home since March, I’d be lying to say it’s not been a struggle on occasion, but I sit here writing this article feeling fit and well and thinking of those not nearly as lucky as I have been. I am sure many reading this must feel the same. Thinking back, everybody hit the start of 2020 extremely positively, with many intermediaries and lenders reporting high vo...

The Bank of England will review its mortgage market measure next year, it revealed in its latest financial stability report.

Did you miss it? You can catch up on the ceremony below. The winners of the awards were as followed: Private Bank of the Year – sponsored by Phoebus Software Winner: Coutts Winner: HSBC UK for Intermediaries Bridging Lender of the Year – sponsored by Movin’ Legal Winner: Precise Mortgages Winner: Landbay Winner: Legal & General Winner: United Trust Bank Winner: Precise Mortgages Winner: lendCo Winner: Legal & General Winner: Movin’ Legal Winner: Gateway Surveyors Winner: Legal & General...

INTEREST rates across the UK are impacted by what the Bank of England set as a base rate, which goes on to affect mortgages, pensions and savings. As such, many people keep an eye on what the central bank decrees throughout the year and today, they have released data on a new survey which examines what the public wants to see happen with inflation and interest rates.