• Staff Mediterraneo Capital Ltd

NEWS IN BRIEF FROM UNITED KINGDOM - 2 JUN 2020

Aggiornato il: lug 28

LENDERS BACK 750,000 BUSINESSES WITH MORE THAN £31 BILLION THROUGH COVID-19 LOAN SCHEMES



So far, lenders have approved over £31.3 billion to over 745,000 businesses through government-backed schemes. In the past week alone, more than £3.8 billion in lending has been provided to 94,000 firms through these schemes. More applications have been received and are expected to be approved in the coming days.

This represents an unparalleled level of support from the industry. Since the launch of the first coronavirus support scheme in late March, over 745,000 facilities have been approved by lenders through the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS) in little over 2 months. In comparison, an average of 275,000 loans and overdrafts were provided in total each year by the ten largest banking groups over the past five years to UK SMEs.



LENDERS COMMIT TO ONGOING SUPPORT FOR MORTGAGE BORROWERS IMPACTED BY COVID-19



  • Latest figures from UK Finance show 1.86 million mortgage payment holidays have been issued as of 28 May 2020 – equivalent to one in six mortgages.

  • Lenders are committed to helping those customers that need assistance at this time, including through the extension of mortgage payment holidays if appropriate.

  • Lenders also commit to continue the moratorium on involuntary repossession for residential and buy-to-let customers to 31 October 2020, helping provide borrowers with reassurance that they will not have their homes repossessed at this difficult time.


NEWS IN BRIEF


The banknote printer De La Rue, which prints money for the Bank of England, said that demand for its currencies remains strong, even as people switch to card payments to slow the spread of the coronavirus (The I, p38, print only).

Insurers will go to court in a test case to decide whether their policies should pay out to businesses hit by the coronavirus crisis (Sky News). Britons expect the coronavirus to raise the cost of living, with inflation expectations in the next five to ten years rising by 3.1 per cent, according to the Citi/YouGov inflation survey (The Times, p36, £).

Boris Johnson is planning talks with Ursula von der Leyen, European Commission president, this month in an effort to unblock post-Brexit trade negotiations (Financial Times, p2, £).

UK house prices have dropped at the fastest rate since the financial crisis, according to the Nationwide house price index. House prices fell by 1.7 per cent in May (City AM).


Source : UK Finance


#unitedkingdom


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