Tag: launches

Tipton Building Society launches first-time buyer mortgage where you only need a 1% deposit

FIRST-TIME buyers can now get onto the property ladder with just a 1% deposit with a new mortgage from Tipton Building Society.

The deal comes as Boris Johnson yesterday revealed a new 5% mortgage deposit scheme to help create “Generation Buy”.

Tipton has bucked the trend launching a mortgage where you only need a 1% deposit

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Tipton has bucked the trend launching a mortgage where you only need a 1% depositCredit: Alamy

Specific details about how exactly the Prime Minister’s scheme will work, or when it will launch, have yet to be revealed but it comes as mortgage providers pull best buys for those with smaller deposits as they tighten lending criteria.

The coronavirus crisis has seen banks instead launch flash sales for first-time buyer mortgages as they become as “rare as Glastonbury tickets”.

But one lender bucking the trend is Tipton Building Society, which has added a new Flexible Family Assist mortgage to its range, which allows you to take out a 99% loan on your first home.

This is in addition to its existing 100% mortgage deal, which still remains.

What help is out there for first-time buyers?

GETTING on the property ladder can feel like a daunting task but there are schemes out there to help first-time buyers have their own home.

Help to Buy Isa – It’s a tax-free savings account where for every £200 you save, the Government will add an extra £50. But there’s a maximum limit of £3,000 which is paid to your solicitor when you move. These accounts have now closed to new applicants but those who already hold one have until November 2029 to use it.

Help to Buy equity loan – The Government will lend you up to 20% of the home’s value – or 40% in London – after you’ve put down a 5% deposit. The loan is on top of a normal mortgage but it can only be used to buy a new build property.

Lifetime Isa – This is another Government scheme that gives anyone aged 18 to 39 the chance to save tax-free and get a bonus of up to £32,000 towards their first home. You can save up to £4,000 a year and the Government will add 25% on top.

Shared ownership – Co-owning with a housing association means you can buy a part of the property and pay rent on the remaining amount. You can buy anything from 25% to 75% of the property but you’re restricted to specific ones.

“First dibs” in London – London Mayor Sadiq Khan is working on a scheme that will restrict sales of all new-build homes in the capital up to £350,000 to UK buyers for three months before any overseas marketing can take place.

Starter Home Initiative – A Government scheme that will see 200,000 new-build homes in England sold to first-time buyers with a 20% discount by 2020. To receive updates on the progress of these homes you can register your interest on the Starter Homes website.

Here’s what you need to know.

How does Tipton’s new 99% mortgage

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Society of London Theatre and UK Theatre Launches the SEE IT SAFELY Campaign

In order to display the See it Safely mark, venues have to sign up to a code of conduct to demonstrate that safety forms the foundation for their reopening plans.

The Society of London Theatre (SOLT) & UK Theatre have launched a new scheme called See It Safely, to support venues as they navigate the challenges of re-opening, and to give audiences the confidence that venues are consistent in their approach and implementation of the latest guidelines.

In order to display the See it Safely mark, venues have to sign up to a code of conduct to demonstrate that safety forms the foundation for their reopening plans. Once past an initial approval process that confirms a venue is operating in line with the latest Government guidelines and Public Health guidance, as set out in a COVID-19 Risk Assessment, all participating theatres will receive the toolkit. This includes a ‘See It Safely’ mark that can be displayed in venues and on promotional materials; an animated safety video; signage and recommended website copy. Training, on-going support and advice is also offered.

In addition to adopting the toolkit, theatres can sign up to a set of ticketing principles which have been designed to reassure audiences that in the event of cancellation they will be able to get an exchange, credit voucher or refund and if an audience member is feeling unwell they can exchange their ticket at least 24 hours prior to the performance for a later date.

To date, just a small number of theatres across the country have opened or announced plans to open with social distance measures in place, whilst the majority sadly remain closed. For those able to open, the response from returning audiences has been overwhelmingly positive with runs selling out or being extended.

SOLT President Kenny Wax has recently announced that his production of SIX will be reopening in London at the Lyric Theatre on Shaftesbury Avenue allowing for social distancing. SIX will also be returning to the Lowry in Manchester for a six week Christmas run, also with social distancing. Commenting on the recent on sale of both productions Kenny said,

“I am delighted that theatre fans have responded so positively and performances are selling extremely well. I expect both productions of SIX to sell out their entire runs and such positive sales give me confidence to open my other shows including THE PLAY THAT GOES WRONG at the Duchess Theatre. There is clearly huge pent up demand for live theatre and it is wonderful to give audiences something to look forward to as we head into the Christmas season.”

DCMS have welcomed the creation of the toolkit and over 140 theatres have already accessed it. It has been shared with other organisations in the live events sector including Association of British Orchestras, British Association of Concert Halls, Concert Promoters Association, Music Venue Trust, National Arenas Association, and One Dance UK. The Federation of Scottish Theatre will be administering and promoting the campaign for its members

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Bank of Thailand Launches World’s First Government Savings Bond on IBM Blockchain Technology

$1.6B USD in government savings bonds were successfully sold within a week of launch

BANGKOK, Thailand, Oct. 5, 2020 /PRNewswire/ — SIBOS — IBM (NYSE: IBM) today announced that Bank of Thailand (BOT), the central bank, has successfully launched the world’s first blockchain-based platform for government savings bonds issuing a total of $1.6B USD within two weeks.

IBM Corporation logo. (PRNewsfoto/IBM)
IBM Corporation logo. (PRNewsfoto/IBM)

Leveraging blockchain technology on the highly secured IBM Cloud, the platform allows investors to benefit from speedy bond issuance, reducing a process that previously took 15 days to two days. The efficiency provided by blockchain also reduces operational complexity and the overall cost of issuing bonds.

According to The Thai Bond Market Association, the outstanding Thai bond market stood at $421B USD as of December 2019. Government bonds dominate the Thai market, with outstanding value of $157B USD in 2019 1, accounting for 37% of the total outstanding Thai bond market.

In the past, the sale of government savings bonds was a complex, multiparty, time-consuming process that relied on a non-real-time system, with duplicated validation steps and manual reconciliation prone to data errors.

As blockchain technology streamlines the processes of bond issuance for issuers, underwriters, registrars, investors and key ecosystem participants, the government savings bond platform now becomes an immutable, real-time single source of truth for network participants, which minimizes the redundant validation and reduces the costs of reconciliation. In addition, Thai investors can now purchase bonds up to the maximum value of their individual allocated quota from a single bank.

The effort to develop a secure and efficient government bond infrastructure involved collaboration among eight institutions including BOT, Public Debt Management Office, Thailand Securities Depository Co., Ltd, Thai Bond Market Association and selling-agent banks, including Bangkok Bank, Krungthai Bank, Kasikorn Bank, and Siam Commercial Bank, with IBM Blockchain as technology and cloud platform partner.

The benefits and business value of using blockchain technology for government bond distribution is shared across stakeholders, and include faster bond issuance for investors, decreased workloads and processing time for issuers, underwriters and registrars, as well as greater transparency and reduced operating costs across the entire value chain.

“Bank of Thailand’s success with the government savings bond project is the latest example of how blockchain technology can redefine the way businesses operate by simplifying complex processes resulting in fast, transparent, secured and efficient multiparty collaboration,” said Patama Chantaruck, VP for Indochina Expansion and MD of IBM Thailand. “IBM is proud to bring our world-class blockchain platform and IBM Cloud to support Bank of Thailand, and work side-by-side with them in achieving this important milestone for Thailand’s financial industry.”

Bank of Thailand now plans to extend blockchain to all other government bonds targeting both retail and wholesale investors.

Thailand is an active adopter of blockchain technology, with a dynamic ecosystem extending to both public and private spheres. In 2019, the electronic letter of guarantee (eLG) platform and network participated in by 22 Thai banks and 15 companies successfully went

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EU launches legal action against UK for breaching Brexit deal and international law | World

Since the UK government has not pulled this legislation, the Commission has written a letter of formal notice to the UK government, the first step in an infringement procedure — something the EU commonly uses when parties breach agreements with the union.

“The letter invites the UK government to send its observations within a month and besides this the Commission will continue to work hard towards full and timely implementation of the Withdrawal Agreement. We stand by our commitments,” von der Leyen concluded.

The move, though dramatic, was expected in London. The government had previously admitted that its Internal Market Bill would breach the treaty and break international law in a “very specific and limited way.” The government claims that the bill is a safety net to ensure seamless trade between the four nations of the United Kingdom in the event of a no deal Brexit at the end of this year and hopes it won’t have to use the legislation.

The backdrop to all of this is that trade talks between London and Brussels are entering their final phase. The last formal round of talks are talking place right now and an EU summit will take place on October 15, where negotiators hope a deal will be on the table for EU leaders to approve.

Both sides say a deal is in sight, but are struggling to reach an agreement on some key issues, most notably around the UK’s ability to use state aid in order to prop up British businesses. The EU says this could give British companies an unfair advantage over EU companies. There are also disputes over fishing rights and governance.

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