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This week in the news

17 May 2019

A round-up of the week’s news from Together and the world of property.

Marc Goldberg wins Award at the British Specialist Lending Awards

At last night’s British Specialist Lending Awards in London, our commercial CEO Marc Goldberg won the ‘Business Leader: Commercial Finance Lender’ Award. A coveted title, the award is testament to years of hard work put in both by Marc and the team. Well done to Marc and all the other winners on the night!

Loan book reaches £3.47bn

We have revealed in our quarterly results to 31st March 2019 that our loan book has reached £3.47bn, following the extension of our distribution capabilities. Average loan originations were up 20.5% to £169.7m (Jan-March 2019) compared with the same period last year. Pre-tax profits were also up 8.8% on the same quarter last year to £31.4m, while cash receipts reached 376.7m over the period.
Read more: https://bridgingandcommercial.co.uk/article-desc-14833_

Owning your own home is the key to happiness

Well, that’s according to the latest ONS research which shows that homeowners have a greater sense of wellbeing than renters. Those who own a property, either outright or with a mortgage, have higher levels of life satisfaction than people renting, regardless of tenure. Director of Benham and Reeves, Marc Von Grundherr, said: ‘We’re a nation of aspirational homeowners and so it’s no surprise that those that have managed to reach the life mile marker of owning their own home will feel more satisfied with themselves, compared to those that remain resigned to a rental market plagued by issues of affordability.’
Source: https://www.zoopla.co.uk/discover/property-news/home-ownership-key-to-happiness/#XsrABh1Q1eFj4rXS.97

The most attractive cities for first-time buyers

A recent study that we carried out researched the best cities for first-time buyers in the UK, with Sheffield topping the list, outstripping its southern rivals on affordability, lower bills and transport costs. At the same time, businesses still pay decent enough salaries to leave plenty of cash for leisure pursuits. Generally, far better value is on offer in the North of England. Newcastle, for example, came second in the list, where the average mortgage is just 28.31% of a buyer’s income, compared with 133.22% in bottom-of-the-list Oxford.

Scottish cities also fared well, with both Aberdeen and Glasgow providing good choices for first-time buyers. Leeds, Belfast, Manchester, Cardiff, Birmingham and Swansea rounded off the top 10 – with no southern cities making the list.
Read more: https://www.telegraph.co.uk/money/specialist-lending/attractive-cities-for-first-time-buyers/


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