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MT Financial News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

New Bank of England rules for landlords with multiple properties - October 17, 2017
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As of 1 October 2017, new Bank of England rules are in force which affect any landlords with four properties or more that wish to apply for a new buy-to-let mortgage, or to refinance an existing property. Due to concerns about the systemic risk that a large buy-to-let sector could pose to the wider economy, … Continue reading New Bank of England rules for landlords with multiple properties


Investors beware: FCA warns of dangers of digital currency - October 17, 2017
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The Financial Conduct Authority (FCA) has warned consumers of the dangers of investing in cryptocurrency, as concerns grow that they lack any intrinsic value. Initial coin offerings (ICOs) – not to be confused with initial public offerings (IPOs) – are commonplace in the digital currency market. Firms offer a form of their own cryptocurrency in … Continue reading Investors beware: FCA warns of dangers of digital currency


Robots should be used to reverse the state pension age, says TUC - October 17, 2017
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The TUC has argued that robotics and artificial intelligence (AI) should be used to benefit working people – for example, by reducing the state pension age. In a new report, the umbrella body for trade unions investigated how the next technological revolution will impact on jobs and wages. It said recent innovation has mainly benefited … Continue reading Robots should be used to reverse the state pension age, says TUC


Mortgage rate rise to bite borrowers where it hurts - September 25, 2017
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The Bank of England (BoE) announced that it would hold interest rates at a record-low of 0.25 per cent in September, but for how much longer this will low rate will remain unchanged is not known. While the economy is growing and job creation is increasing to near-record levels, choosing to hold interest rates at … Continue reading Mortgage rate rise to bite borrowers where it hurts


Treasury to limit statutory right to transfer pensions - September 25, 2017
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The Treasury has confirmed plans to limit the statutory right to transfer pensions in a bid to clamp down on fraud. In a response to its consultation paper issued in December 2016, it said it would introduce tougher measures around transfers and the setting up of small self-administered schemes (SSAS). Under new measures, individuals will … Continue reading Treasury to limit statutory right to transfer pensions


Rates improve as savings market springs back into life - September 25, 2017
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Activity in the savings market has soared in recent months with the number of providers reaching its highest point in more than seven years, new figures reveal. The latest Moneyfacts UK Savings Trends Treasury Report shows that there are now 120 savings providers – such as banks and building societies – in the market, up … Continue reading Rates improve as savings market springs back into life


HMRC’s withdrawal of paper copies of important tax document may affect self-employed workers’ mortgage applications - September 25, 2017
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Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications. Until recently it has been possible to obtain a paper copy of form SA302, which lenders often require … Continue reading HMRC’s withdrawal of paper copies of important tax document may affect self-employed workers’ mortgage applications


Household savings down by almost half in Q1 of 2017 - August 9, 2017
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Worrying data published by the Office for National Statistics (ONS) towards the end of July has revealed that household savings hit a record low in the first quarter (Q1) of 2017 – after falling by as much as 48 per cent quarter-on-quarter. According to reports, Britons saved an average of just 1.7 per cent of … Continue reading Household savings down by almost half in Q1 of 2017


State pension age to be increased to 68 - August 9, 2017
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Under new Government proposals, as many as seven million UK men and women will have to wait a year longer than expected to get their state pension. This is because the UK’s existing state pension age of 67 will be extended to 68 by 2039 – affecting anyone born between 1970 and 1978, the Government … Continue reading State pension age to be increased to 68


Study reveals fall in mortgage costs - August 9, 2017
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A new study suggests that mortgage costs across the UK are falling – a trend that is expected to continue well into the near future. According to the latest quarterly product data analysis from market analysts Mortgage Brain, there has been a ‘slight drop’ in two-year fixed deals with loan-to-value (LTV) ratios of 60, 70 … Continue reading Study reveals fall in mortgage costs


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