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Demand for rented accommodation up 56%

Your Move says that demand for rented accommodation boomed 56% over the last year.

Despite a 7.6% month on month slowdown in the number of people signing up to new leases, rental demand in January 2009 was up a massive 56.4% on 2008.

David Newnes, managing director of Your Move, says: “As far as the 2008 property market was concerned, rental demand was a diamond in the rough.

“While the mortgage market was still in dire straits, the drop in lending boosted the lettings market.”

But in January he says that while people are still choosing to rent, the number of mortgage approvals has increased.

He adds: “The slight dip in demand for lettings, and the up-tick in mortgage approvals seem to suggest that now most of the banks are owned by the government, they’ve been forced to start lending again.

“I think a lot of government pressure is being applied to lenders to start offering some decent mortgages – rental demand has suffered as a result.”


Skipton profits plummet by 86%

Skipton has revealed pre-tax profits of £22.5m for 2008, a staggering fall from its £163.9m profit in 2007.

Target loan servicing wins servicing contract

Target Loan Servicing has won a significant contract to service loans for Park Motor Finance, a wholly-owned subsidiary of Credit Suisse. The loan portfolio contains approximately £80m of motor loans for 20,000 customers.  This new service contract will secure up to 50 jobs in Newport, South Wales.James Snow, chief executive officer for Target Loan Servicing, says: […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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