Greater access to home loans is expected to increase in coming months, the Bank of Englands latest survey of credit conditions has said.
The BoEs 15-page Credit Conditions Survey for the first quarter of 2015 said the supply of secured lending was stable and was expected to increase during the second quarter, while unsecured lending availability to households rose during the period.
According to the survey, while demand for home loans had cooled over the first quarter, analysts expected it to pick up again after the general election, along with an improvement in economic health.
The survey said: According to lenders, demand for secured lending for house purchase had fallen significantly in Q1 for the third successive quarter, but was expected to increase in Q2.
However, the availability of household secured credit to borrowers with high loan-to-value ratios of 75 per cent and above fell, with lenders saying they expected to see a 2.4 per cent fall over the first quarter of 2015. Lenders believe that this will recover, with only a 0.1 per cent dip in higher LTV lending over the next quarter.
Lenders said their expectations for house prices had not changed in Q1, and they had no expectations of a rise over the next three months. This was a change from lenders in the fourth quarter of 2014 who had seen a 1.5 per cent rise in the last quarter, and who had predicted a 3.6 per cent price rise in Q1 2015.
However, lenders continue to predict a fall in LTV and LTI ratios over the coming quarter.
Rebecca Aldridge, managing director of Nottinghamshire-based Balance Wealth Planning said she was not impressed by possible increased scope for financial planning for clients implied in the credit conditions report.
She said: I will stick to my principles with regards to financial planning. I would always recommend sitting tight. Do not change course just because of one report unless it is very significant indeed.
Attorney Erik Joh will be the special guest speaker. Joh is a partner in the law firm of Hinman, Howard amp; Kattells in Boynton Beach, Florida. He specializes in estates, trusts and wealth planning.
Joh is a trustee of the Gertrude E. Skelly Charitable Foundation from which the School of Nursing received an awards. The foundations primary mission is to provide educational opportunities and needed medical care for undergraduate and graduate nursing students who are unable to afford them.
[Business Wire] Hundreds of senior LGBT and Ally business leaders from around the world will convene on Tuesday, April 21, for the fifth annual Out on the Street: US LGBT Leadership Summit hosted by Morgan Stanley, at the New-York Historical Society.
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Morgan Stanley (MS), currently valued at $72.58B, started the session at $37.05.
Looking at todays trading action, the companys one day range from $36.69 to $37.07 and has traded between $29.02 and $39.19 over the past 12 months.
MS shares are currently priced at 12.75x this years forecasted earnings, which makes them relatively inexpensive compared to the industrys 19.91x forward p/e ratio.
The company pays shareholders $0.40 per share in dividend income per year, for a current yield of 1.10%.
In a review of the consensus earnings estimate this quarter, 23 sell-side analysts are looking at $0.78 per share, which would be $0.10 better than the year-ago quarter and a $0.00 sequential decrease. Investors should also note that the full-year EPS estimate of $2.89 is a $0.57 better when compared to the previous years annual results.
The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.17 Billion. If reported, that would be a 4.20% increase over the year-ago quarter.
More recently, MKM Partners Initiated MS at Buy (Oct 2, 2014). Previously, Deutsche Bank downgraded MS from Buy to Hold.
When considering if the stock is under or overvalued, the average price target is $38.98, which is 5.21% above where the stock opened this morning.
Summary (NYSE:MS): Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, as well as provides capital raising and corporate lending services. This segment also engages in sales, trading, financing, and market-making activities, including institutional equity, fixed income and commodities, research, and investment activities, as well as offers financing services, such as prime brokerage, consolidated clearance, settlement, custody, financing, and portfolio reporting services. Its Wealth Management segment provides brokerage and investment advisory services covering various types of investments comprising equities, options, futures, foreign currencies, precious metals, fixed income securities, mutual funds, structured products, alternative investments, unit investment trusts, managed futures, separately managed accounts, and mutual fund asset allocation programs. This segment also offers education savings programs, financial and wealth planning services, annuity and other insurance products, cash management services, trust and fiduciary services, individual and corporate retirement solutions, and credit and other lending products, as well as fixed income principal trading services. The companys Investment Management segment provides alternative investment products, such as hedge funds, private equity and real estate funds, and portable alpha strategies to institutional and intermediary channels, and high net worth clients, as well as engages in real estate investing and merchant banking businesses. Morgan Stanley was founded in 1924 and is headquartered in New York, New York.
National wealth management group Attivo has made the first three of 50 new appointments it plans to make this year as part of its ambitious growth plans.
James Cobb is the firms new group technical manager, Teresa Crew will head up the technical research team and Nicholas Palmer is the groups new private client investment manager.
As reported in January, the Cheltenham-based financial advice firm intends to double personnel numbers over the course of the year, to 80 members of staff and a payroll increase of around pound;2.5m.
Mr Cobb was a technical manager at Hargreaves and has been brought in to ensure Attivo has the right structure, skills and framework to grow a robust financial services business.
He will also have oversight into the investment committee and will support delivery of the groups pension propositions.
Ms Crew was wealth planning manager at Towry, overseeing a team of paraplanners.
She has been appointed to oversee the development and recruitment of the para planning team, ensuring - with the support of Mr Cobb - that the team achieve the advanced diploma in financial planning in addition to Chartered status.
Mr Palmer will be based in Attivos new London office, working with the groups private clients, creating and managing bespoke investment solutions. He will sit on the investment committee, focusing on fixed income, absolute return, Europe and North American sectors.
Stephen Harper, Attivos chief executive, said: The opportunity provided by the pensions revolution has thrown into the spotlight the lack of technically qualified chartered financial planners in the industry.
The need for professional, expert, intelligent, independent advice is paramount, now more than ever, and these three appointments will ensure Attivo is at the forefront of financial planning as a true profession.