March Financial Newsletter
Spring 2018 and it’s all kicking off!
The Salisbury Spy Scandal sparks fears of a new cold war era while the sad death of ‘a beautiful mind’ is reported following the demise of Steven Hawking (not to mention Jim Bowen.. Super, Smashing, Great). As we approach the 1 year countdown to Brexit we summarise all you need to know about our forthcoming divorce from the EU. Even more stress (testing) for the Big Banks further increases the value of the finance broker to the SME and property sector and the great news is.. there is always time for a pint..
UK Economic Briefing
Gloves off. President Trump threw down a gauntlet last week by imposing tariffs on steel and aluminium imports from all countries other than Canada and Mexico.
Top 5 BTL Mortgages
1.39% Fixed 2yr 60% LTV
1.64% Disc. 2yr 65% LTV
1.85% Fixed 2yr 75% LTV
2.19% Fixed 5yr 60% LTV
2.65% Fixed 5yr 75% LTV
The Russian Embassy tweeted is it not “afraid of the cold” as the Defence Secretary said Moscow should “go away and shut up”. It may not be a Cold War, but it’s an era of tension
In Other News
The UK has voted to leave the European Union. It is scheduled to depart at 11pm UK time on Friday 29 March, 2019. The UK and EU have provisionally agreed on the three “divorce” issues of how much the UK owes the EU, what happens to the Northern Ireland border and what happens to UK citizens living elsewhere in the EU and EU citizens living in the UK
The Bank of England’s annual stress testing of UK lenders contains some important changes, Courtesy of Sky News. The global economy shrinks by 2.4% as property prices in China, Hong Kong and Singapore crash. Investors rush to make their portfolios less risky and, around the world, there is volatility in financial markets.
Pub chain JD Wetherspoon is weathering tough times in the restaurant trade, according to boss Tim Martin. He says there has been a backlash against “trendy-type, restaurant-type” chains which are now seeing higher costs and tough competition.
Wetherspoon is “technically” facing the same pressures, but “we seem to be doing quite well”, he told the BBC.