UK economy grows 6.6% in July

Latest News

UK economy grows 6.6% in July

By Adam Cadle

11/09/2020

The UK economy grew by 6.6% in July, according to Office for National Statistics (ONS) figures, but still remains far below pre-pandemic levels.

It is the third month in a row that the economy has expanded.

The ONS said the UK "has still only recovered just over half of the lost output caused by the coronavirus".

Kingswood chief investment officer Rupert Thompson said: "Activity has now recovered a little over half of the massive 26% fall seen between February and April but this still leaves the economy close to 12% smaller than it was prior to COVID.

"The pace of the recovery moderated in July and looks certain to slow significantly more over coming months as the initial boost from pent-up demand fades and the furlough scheme comes to an end. As the Chancellor has been keen to point out, the economy is far from out of the woods yet.”

Intergenerational lending

MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage

Helping landlords make their cash work harder

MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market

MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area