Latest news with #PaulMatthews
Yahoo
24-07-2025
- Business
- Yahoo
First-time buyers can now get a 3.76% mortgage
Lenders have left their mortgage rates unchanged from last week ahead of the Bank of England's interest rate decision, but first-time buyers can still get a deal as low as 3.76%, depending on the size of their deposit. The average rate for a two-year fixed mortgage stands at 4.80%, while five-year fixed deals average 5.01%, according to data from Uswitch. The Bank of England has kept interest rates at 4.25% amid inflation fears, delivering a blow to homeowners who were expecting a relief in their mortgage. The primary inflation measure, the Consumer Price Index (CPI), stood at 3.6% in the 12 months to June, well above the BoE's 2% target. However, it is widely expected to cut interest rates to 4% at its next meeting, on August 7. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership Chancellor Rachel Reeves announced new plans, under which renters who have a good track record of monthly payments will be able to use this to prove to lenders how much they can afford to borrow, sometimes without the need for a deposit. Homeowners are set to benefit from simplified mortgage rules, as the Financial Conduct Authority (FCA) confirms changes designed to make remortgaging or reducing loan terms easier. A key part of the reform involves the FCA removing existing guidance that it deems to have "served its purpose," a move intended to reduce the regulatory burden on financial firms. This adjustment means borrowers could find it simpler to shorten their mortgage term, potentially lowering the total cost of borrowing and mitigating the risk of repayments extending into retirement. Crucially, the requirement for a full affordability assessment will be lifted when a borrower seeks to reduce their mortgage term. Consumers could see their choice improved by allowing for simpler affordability assessments, where a proposed remortgage is on similar terms to an existing contract, but more affordable than a new deal indicated by a customer's existing lender. Paul Matthews, senior director of risk at financial services consultancy Broadstone, said: 'The FCA is taking significant steps to make it easier for consumers to make changes to their mortgages and get better support on their available options. 'The easing of regulation will allow lenders greater flexibility to innovate in the market.' Reeves will also launch a permanent mortgage guarantee scheme to help more people get on the housing ladder. The BoE also loosened its lending rules. Until now, just under 10% of new mortgages issued are for valuations exceeding 4.5 times a borrower's income. That is now set to rise to 15% across the industry, with some building societies and banks now able to offer an even higher number of new mortgages at that level. Read more: First-time buyers on £30k salary now able to apply for mortgage BoE estimates suggest 36,000 extra mortgages with higher loan-to-income ratios could be handed out each year as a result of the change. Nationwide (NBS.L), Britain's biggest building society, has also cut the salary requirements for first-time buyers from £35,000 to £30,000, in a move it hopes will enable 10,000 more people to become homeowners. HSBC mortgage deals HSBC (HSBA.L) has a 3.94% rate for a five-year deal, unchanged from last week. For those with a Premier Standard account with the lender, this rate is 3.91%. Looking at the two-year options, the lowest rate is 3.82% with a £999 fee, the same as before. Both cases assume a 60% loan-to-value (LTV) mortgage, meaning buyers need to have at least 40% for a deposit. HSBC offers 95% LTV deals, meaning you only need to save for a 5% deposit. However, the rates are much higher, with a two-year fix at 4.99% or 4.79% for a five-year fix. This is because their financial situation and deposit size determine the rate someone can get. The larger the deposit, the lower the LTV, allowing buyers to access better deals because lenders consider them less risky. NatWest mortgage deals NatWest's (NWG.L) five-year deal is 3.90% with a £1,495 fee, unchanged from last week. The cheapest two-year fixed deal is 3.81%, again untouched from the previous week's deal. In both cases, you'll need at least a 40% deposit to qualify for the rates. Santander mortgage deals At Santander (BNC.L), a five-year fix comes in at 4.01% for first-time buyers, which is unchanged from the previous week. It has a £999 fee, assuming a 40% deposit. Read more: Buy-to-let rents bringing in 7% returns to landlords For a two-year deal, customers can secure a 3.84% offer, with the same £999 fee, again the same as before. Barclays mortgage deals Barclays (BARC.L) was the first among major lenders to bring back under-4% deals and has since pushed deeper into under-4% territory,. Its five-year fix this week stands at 3.91%, unchanged from before The lowest for two-year mortgage deals is 3.76% or 3.75% if you have a Premier exclusive account. Either way, the deals are deep into sub-4% territory. Other rates at the lender include: 3.76% 2 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m 4.03% 2 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m 3.92%Premier 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m 3.93% 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m 4.15% 2 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m 4.02% 3 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m 4.07% 3 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m 3.90% Premier 5 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m 3.91% 5 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m 3.99% 5 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m 4.03% 5 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m 4.14% 5 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m Barclays recently launched a mortgage proposition to help new and existing customers access larger loans when purchasing a home. The initiative, known as Mortgage Boost, enables family members or friends to effectively "boost" the amount that can be borrowed toward a property without needing to lend or gift money directly or provide a larger deposit. Under the scheme, a borrower's eligibility for a mortgage can increase significantly by including a family member or friend on the application. For example, an individual with a £37,500 annual income and a £30,000 deposit might traditionally be able to borrow up to £168,375, enabling them to purchase a home priced at around £198,375. However, with Mortgage Boost, the total borrowing potential can rise substantially if a second person, such as a parent, joins the application. In this case, if the second applicant also earns £37,500 a year, the combined income could push the borrowing limit to £270,000, enabling the buyer to afford a home worth up to £300,000. Nationwide mortgage deals Nationwide's (NBS.L) lowest mortgage rate for first-time buyers is 4.14% for a five-year fix. First-time buyers are looking at 3.94% for a two-year fix. Both deals rare unchanged from the previous week, require a 40% deposit and come with a £1,499 fee. Eligible first-time buyers can apply for a mortgage with a £30,000 salary, down from £35,000, and joint applicants with a £50,000 combined salary, down from £55,000. This is expected to support an additional 10,000 first-time buyers each year. Nationwide, which lent to more first-time buyers in 2024 than any other lender, has confirmed it has applied to the Prudential Regulation Authority to increase its high loan-to-income lending capacity. The vast majority of Nationwide's high LTI lending is done through its Helping Hand, which allows eligible first-time buyers to borrow up to six times income. This enables borrowing of up to 33% more than standard lending. Helping Hand has helped around 60,000 first-time buyers since launching in 2021. Read more: Best credit card deals of the week The lender has also adjusted its mortgage affordability calculation by reducing stress rates by 0.75 and 1.25 percentage points, helping applicants borrow more, whether buying a first home, moving, or remortgaging. Applicants can borrow, on average, £28,000 more; however, in some remortgage cases, customers could borrow up to £42,600 more. Nationwide also reduced its standard stress rate and the rate applied to eligible first-time buyers and home movers fixing their deal for at least five years. Halifax mortgage deals Halifax, the UK's biggest mortgage lender, offers a five-year rate of 3.94% (also 60% LTV), lower than last week's 3.97%. The lender, owned by Lloyds (LLOY.L), offers a two-year fixed rate deal at 3.79%, with a £999 fee for first-time buyers, lower than the previous 3.84%. It also offers a 10-year deal with a mortgage rate of 4.78%. Halifax has enhanced its five-year fixed mortgage products by increasing borrowing capacity. This improvement allows borrowers to access up to £38,000 more, enabling them to secure larger mortgages based on individual incomes. Rachel Springall, finance expert at Moneyfacts, said: "The flourishing choice of low-deposit mortgages will no doubt be welcomed by borrowers looking to remortgage or are a first-time buyer. "The government has been clear that it wants lenders to do more to boost UK growth, and so a rise in product availability for aspiring homeowners is a healthy step in the right direction." Cheapest mortgage deal on the market Barclays has some of the lowest rates on the market, with a two-year fix coming in at 3.76%. NatWest takes the crown for a five-year fix with its 3.90% deal. However both require a hefty 40% deposit. The average UK house price is £297,781, so a 40% deposit equals about £120,000. A growing number of homeowners in the UK are opting for 35-year or longer mortgage terms, with a significant rise in older borrowers stretching their repayment periods well into their 70s. Read more: Average UK house asking price drops by almost £5,000 Lender April Mortgages offers buyers the chance to borrow up to six times their income on loans fixed for five to 15 years, from a deposit of 5%. Both those buying alone and those buying with others can apply for the mortgage. As part of the independent Dutch asset manager DMFCO, the company offers interest rates starting at 5.20% and an application fee of £195. Skipton Building Society has also said it would allow first-time buyers to borrow up to 5.5 times their income to help more borrowers get on the housing ladder. Leeds Building Society is increasing the maximum amount that first-time buyers can potentially borrow as a multiple of their earnings with the launch of a new mortgage range. Aspiring homeowners with a minimum household income of £40,000 may now be able to borrow up to 5.5 times their earnings. Mortgage holders and borrowers have faced record-high repayments in recent years, as the Bank of England's base rate has been passed on by banks and building societies. According to UK Finance, 1.3 million fixed mortgage deals are set to end in 2025. Many homeowners will hope the Bank of England acts quickly to cut rates more aggressively. At the same time, savers will likely root for rates to remain at or near their current in to access your portfolio
The Guardian
14-07-2025
- Health
- The Guardian
Full-body scans of 100,000 people could change way diseases are detected and treated
Scientists expect to gain unprecedented insights into human ageing and the earliest signs of disease after scanning 100,000 people from head to toe in the world's largest whole body imaging project. The completion of the decade-long task means qualifying researchers worldwide will have access to 1bn de-identified images of the hearts, brains, abdomens, blood vessels, bones and joints of volunteers alongside medical histories and rich data on their genetic makeup, health and lifestyle. Subsets of the images compiled by UK Biobank, which follows the health of half a million people in Britain, have already underpinned breakthroughs in how the heart influences psychiatric disorders and shown that the scans can predict dozens of future diseases. They also suggest no amount of alcohol consumption is healthy. 'Researchers now have an incredible window into the body,' said Naomi Allen, the chief scientist at UK Biobank. 'For the first time, researchers can study how we age and how diseases develop in stunning detail and at a massive scale.' 'We hope that the findings … will change the way the world detects and treats disease before people get sick,' she added. The imaging project captured 12,000 images from each volunteer, revealing the size, shape and structure of the brain, bones, heart and other organs, along with bone density and body fat. Ultrasound scans on arteries in the neck looked for blockages or narrowing that raise the risk of stroke. Paul Matthews, the chair of the UK Biobank imaging group, and a professor of neuroscience at Imperial College London, said the scans were so detailed that scientists could spot people at higher risk of dementia from changes that were previously invisible. The scans reveal differences in brain size as small as a teaspoon of water, or a few tenths of a per cent of the brain's total volume, he said. The procedure is now being trialled in the NHS. Other work based on the brain scans found that consuming one to two units of alcohol per day was associated with changes in brain size and structure, potentially contributing to memory loss and dementia. 'Unfortunately, there is no perfectly safe level and certainly no benefit to the brain from just a glass of wine a day,' Matthews said. Patricia Munroe, a professor of molecular medicine at Queen Mary University of London, works on the genetics of heart structure, function and disease. The new images capture cycles of heartbeats, allowing her to search for genes that govern the heart's function as a pump, as well as its structure, and see when they go awry. Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Doctors have long used body mass index (BMI) to assess people's risk of diabetes and heart disease, but abdominal scans show that people with the same BMI and waist measurement can have radically different fat distributions, which alters their risk of heart disease. UK Biobank is now re-scanning 60,000 volunteers to see how people's brains, bodies and bones change in the years after their first scan. Louise Thomas, a professor of metabolic imaging at the University of Westminster, has looked at body scans taken two years apart. 'The results were shocking. The amount of visceral fat, the bad fat in the abdomen, had increased,' she said. Muscle also becomes more fatty. 'As we get older, we become more and more marbled,' she said. 'We're becoming wagyu beef.' Medical advances made from the images are expected to transform procedures in the NHS. One of Thomas's colleagues automated the detection of aneurysms – life-threatening bulges in blood vessel walls. While men are already screened for them, women are not, even though they are more serious in women. 'We can do lots of things we weren't able to do before. It's quite extraordinary,' Thomas added.
Business Post
23-05-2025
- Business
- Business Post
Signs of life in retail tech shift
It has been a long time since 'IT' has meant simply computers, and nowhere is that clearer than in retail. While digital signage is not entirely new to the market, it is developing as a technology and changing how retailers sell. 'We're seeing a fusion of IT infrastructure and visual technology – retailers need both to deliver frictionless, omnichannel experiences,' said Paul Matthews, head of sales at Avitor Audio Visual and IT. Today, Avitor, through its channel partner network, delivers, for instance, TP-Link enterprise-grade wi-fi and network setups for reliable customer and in-store device connectivity and integrated systems that allow digital signage, EPOS, inventory, and customer analytics platforms to speak to each other. Technological development never stops, though. Most recently, Matthews said, there has been a move toward smart stores with connected sensors, smart displays, and edge-computing capability. Consequently, signage can target its message according to not only location or time of day, but even the person approaching it, noting their age group, their gender or even their mood. Naturally, this development is driven by not only the massive increase in processing power delivered by cloud computing, but also artificial intelligence (AI) technology such as machine vision. 'The cloud, and AI most recently, are crucial technologies, using a mix of sensors and cameras and POS (point of sale) information to deliver the right message at the right time – and to the right person. Also, with the creation of the content you want to publish, AI has played a big role in that,' Matthews said. Avitor, which distributes technology from global leaders including NowSignage, Allsee, Newline, LED Studio, TP-Link, and Yealink to 190 partners not only in Ireland, but also Britain, has seen first-hand how retailers are embracing these new capabilities. The company recently opened its state-of-the-art showrooms in Swords, County Dublin, where retail partners can experience these advanced signage solutions in person, showcasing the full range of interactive displays and integrated systems and allowing potential clients to see exactly how the technology could transform their own retail spaces. Insights from the field Irish retailers are approaching digital transformation with a characteristic blend of pragmatism and innovation, according to Matthews. 'What we're consistently hearing from our Irish partners isn't about wanting technology for its own sake. They want reliable systems that deliver real ROI (return on investment), not just flashy tech,' he said. Working with Irish brands across various retail sectors, several clear patterns have emerged, Matthews said. Firstly, a strong demand for cost-effective, managed signage solutions that don't require specialist in-house expertise to maintain. Secondly, there is the growing interest in analytics-driven signage that can measure customer engagement metrics such as dwell time, demographic information, and interaction rates. 'Retailers are particularly savvy about wanting data that helps them optimise both their digital content and their physical store layouts,' said Matthews. This insight-driven approach has helped Avitor's channel partners deliver solutions that genuinely address retailers' needs rather than simply following global technology trends. 'What works for a shopping centre in London or New York might need significant adaptation for the Irish market, and what works in one location or sector may also differ,' Matthews said. 'Our partners excel at making those translations.' It goes almost without saying that the shift in market needs has been met by a democratising of the technology. 'Digital signage used to be only for big products, say something like a car, now it is used to sell products for a few euro,' said Matthews. Avitor's channel partners can create payment plans to finance the technology, with no minimum order. What this means in practical terms is that bricks-and-mortar shops can not only make more of the experience that online shopping can never deliver, but it can also enjoy some of the technological advantages that were once only available in e-commerce. 'It could be one screen or a hundred, an independent food outlet of a huge chain, and for many retailers, part of what this is about is upgrading the store, with the updating of signage as part of that. It's absolutely not specific only to high-end retail,' he said. Crucially, this technological advancement has coincided with greater ease of use and familiarity with content creation tools. 'Ease-of-use has improved, and in addition people are used to the technology. Young people are used to creating content; really everyone is a content creator.' Ultimately, the value proposition is simple, Matthews said: Aviator's vision is to deliver technology that works, scales – and that pays for itself. 'Today's retailers need screens that sell and networks that never drop – that's where we come in,' he said.
South Wales Argus
06-05-2025
- Business
- South Wales Argus
Briefing planned on M48 Severn Bridge weight restriction
The M48 Severn Bridge, from Chepstow to Aust, is to have a weight limit imposed from Tuesday, May 27 meaning heavy goods vehicles over 7.5-tonnes will have to use the second Severn crossing, the M4 Prince of Wales bridge to cross. When National Highways, the UK Government agency responsible for both bridges, announced the precautionary measure to protect the near 60-year-old bridge as its suspension cables require strengthening there was anger from local councillors. The chief executive of Monmouthshire County Council, Paul Matthews, also said, on social media, he hadn't been given advanced notice of the decision, though National Highways said it had informed local authorities the day before its announcement. The National Highways briefing for councillors will take place on Friday, May 9. Local councillors said they wanted to meet with the Westminster government's transport minister Heidi Alexander to discuss the decision and raised concerns about the impact on local businesses particularly those in the haulage sector. Further concerns were raised due to ongoing roadworks on the M4 Prince of Wales bridge and an emergency closure on Thursday, May 1. Councillor Richard John, the leader of Monmouthshire's Conservative opposition group, said closure of the M4 bridge when the first crossing isn't available to heavy goods traffic will cause additional expense for firms. He said: 'Once the M48 bridge is closed to HGVs later this month they will face a 100 mile detour via the M50 and M5. This will raise costs for hauliers and ultimately cost jobs.' Senedd Members have also called for the Welsh Government to consider the impact of the closure of the bridge to lorries on roads it is responsible for, including the M4, and local routes and journeys. Around 32,000 vehicles cross the first Severn Bridge every day with around 10 per cent, or some 3,720, of those vehicles being lorries over 7.5 tones. National Highways estimates repairing the cables could cost between £300m and £600m and the closure that comes into force later this month is to reduce the weight of traffic on the bridge while it carries out further investigations. The weight restriction is likely to be in place for 12 to 18 months though the crossing will remain open to all emergency vehicles, scheduled buses, coaches, gritters and recovery vehicles.
Yahoo
15-04-2025
- Automotive
- Yahoo
Council 'not told' about new bridge weight limit
A council says it was not given any prior notice about a new weight limit which has been introduced on a major crossing between Wales and England. Weight restrictions for heavy-goods vehicles will apply on the M48 Severn crossing from next month, in a bid to future-proof the 60-year-old suspension bridge. But Monmouthshire council's chief executive said the authority was not warned of the rule change, which will see only heavy-goods vehicles up to 7.5 tonnes able to use the route between Chepstow and Aust, Bristol, from 27 May. Councillors now want to meet the UK's transport secretary to discuss their concerns. National Highways - which manages major roads in England - said it contacted stakeholders as soon as possible. Paul Matthews, the chief executive of Monmouthshire County Council, complained on social media that to be notified of the decision, which was "quite a big deal" for the county, "would have been nice". Weight restrictions introduced on major crossing M4 Severn bridge roadworks to go on until summer M5 flooded and Severn Bridge closed in bad weather The new rules mean about 10% of the 32,000 vehicles that cross at Chepstow every day will soon need to use the second Severn crossing, the Prince of Wales bridge, to travel between Wales and England. National Highways said the weight restriction would need to remain in place for an about 12 to 18 months as it developed and installed a medium-term solution, but added the crossing would remain open to all emergency vehicles, scheduled buses, coaches, gritters and recovery vehicles. The announcement has caused anger among local representatives, coming shortly after a series of lane closures and restrictions in 2022 and 2023 for an assessment of the main cables which were exposed to harsh winter conditions. Concerns have also been raised over business struggles and traffic pollution levels resulting from the change. Armand Watts, who represents the Bulwark and Thornwell area - which is beside the bridge in Chepstow - said the decision had been made without consultation. "I want to know why National Highways are carrying out a consultation after the decision? That's not consultation, that's a sham to do consultation retrospectively." The Labour councillor said he was concerned at the impact on businesses, especially those based at the Newhouse Farm Industrial Estate where supermarket Asda has a distribution centre, and the service station on the English side of the bridge at Aust, as well as the longer term economic impact for Monmouthshire. "Monmouthshire County Council has a plan to create so many jobs but if businesses in Chepstow can't get HGVs on to the bridge what will it mean longer term? Will they look to Magor or over to Avonmouth?" He also said he was concerned traffic heading north, or travelling south into Wales, would use the A48, adding to congestion and traffic pollution in Chepstow. "I'm trying to arrange a meeting with Heidi Alexander [UK government transport minister]," he said. Conservative councillor Lisa Dymock, whose Portskewett ward includes the Severn Bridge Industrial estate which houses about 40 businesses, said she was concerned about increased costs for smaller haulage firms and manufacturers and the possibility of 95-mile detour, up the M50 via Gloucester, for hauliers if an accident closed the M4 bridge. She said: "This announcement has come at a difficult time when the M4 Prince of Wales Bridge is routinely subject to significant delays due to resurfacing works, which are due to continue until at least August." Richard John, leader of the Conservative opposition group on Monmouthshire council, called for a "clear timeline" for inspections and repairs and added: "We need to see swift intervention from the UK government to secure the long-term future of the bridge so it can continue to safely accommodate the demands of businesses and residents." National Highways said local authorities were informed on Thursday, one day before the official announcement, and it had made efforts to contact stakeholders as quickly as possible via email, phone calls and briefings. Chris Pope, programme delivery manager, added: "Safety is our number one priority, and this weight restriction is about future-proofing the bridge for years to come. "As with all our structures, we will continue to monitor the bridge and ensure it remains safe for users." Bridging the Gap: How the Severn Bridge Was Built The Severn Bridge at 50: A High Wire Act
