Global equities ease amid concerns surrounding geopolitical tensions and the independence of the U.S. Federal Reserve. Chinese equities were again the standout performer for the week, rallying another 2.71%. Last week’s performance – major stock markets Commentary US: STOCKS ENDED THE WEEK MODESTLY LOWER AS MARKETS HEADED INTO A HOLIDAY WEEKEND Small-cap stocks performed best, with the Russell 2000 Index posting moderate gains and outperforming the S&P 500 Index for the third week in a row. Much of the attention was focused on chipmaker, NVIDIA’s, earnings release after the market closed on Wednesday. NVIDIA posted earnings that were better than expected and while the stock pulled back, the numbers appeared strong enough to ease recent concerns around the artificial intelligence-driven rally. Concerns about the potential erosion of the Federal Reserve’s independence also garnered attention during the week following President Donald Trump’s announcement that he would be firing Fed Governor Lisa Cook, citing allegations that she committed mortgage fraud. Cook filed a lawsuit seeking to block the firing on Thursday, and a spokesperson for the Fed said the central bank will abide by any court decision. Inflation held steady month over month in July, according to the Bureau of Economic Analysis’s (BEA) core personal consumption expenditures (PCE) price index—which excludes food and energy costs and is the Fed’s preferred measure of inflation. JAPAN: PROFIT TAKING BY INSTITUTIONS SAW STOCK PERFORMANCE AS MIXED Japan’s stock markets ended the week mixed, with the Nikkei 225 Index gaining 0.20% and the broader TOPIX Index down 0.83%. Profit taking tied to month-end portfolio rebalancing by institutions that seemed to favour bonds more than equities was cited as a major reason, although equity markets also steadied ahead of a U.S. inflation report. In addition, trade talks with the U.S. were further delayed after chief trade negotiator Ryosei Akazawa cancelled a trip to Washington at the last minute, apparently due to unresolved issues that stand in the way of finalising an agreement. CHINA: STRONG DOMESTIC LIQUIDITY UNDERPINNED FURTHER EQUITY MARKET STRENGTH Mainland Chinese stock markets advanced, extending the recent rally, with the onshore benchmark CSI 300 Index rising 2.71%. China’s stock markets have been on a tear in recent weeks. The CSI 300 gained almost 10% in August, ranking among the best-performing major indexes, and average daily turnover volume so far this month is on track for a record high, according to Bloomberg. Many analysts believe that ample domestic liquidity, rather than a strong economy, is fuelling the rally as cash-rich households in China seek higher returns amid low interest rates and a lack of compelling investment options. The amount of margin debt taken out to buy stocks climbed to its highest level since 2015, according to Bloomberg, suggesting elevated retail interest in the stock market. On the economics front, China reported that industrial profits fell a less-than-expected 1.5% in July, as strong tech sector earnings outweighed weakness in industries straining under weak demand and deflationary pressures. EUROPE: EUROPEAN STOCKS PULLBACK AMID ONGOING GEOPOLITICAL INSTABILITY European equities fell for the week amid worries about the independence of the U.S. Federal Reserve. Renewed tariff uncertainty, political instability in France, and fading hopes of peace between Russia and Ukraine also weighed on sentiment. Major countries’ stock indexes fell as well. France’s CAC 40 Index dropped 3.33%, Italy’s FTSE MIB lost 2.57%, and Germany’s DAX declined 1.89%. European Central Bank (ECB) policymakers kept the deposit facility rate at 2.0% in July but were split over the outlook for inflation. Several rate setters argued that risks were tilted to the downside at least for the next two years, citing weaker growth prospects, the impact of U.S. tariffs, and a strong euro. A few members warned that inflation risks could still be tilted to the upside, especially over the longer term, given uncertainties around energy prices and currency movements. UK: EQUITIES EASE FROM ALL-TIME HIGHS ON THE BACK OF SHARE PRICE WEAKNESS IN THE BANKING SECTOR UK equities slid for the week, largely driven by selling in the banking sector. This was on the back of the Institute for Public Policy Research recommending a new tax on lenders. NatWest and Lloyds fell -4.8% and -3.4%, respectively, while Barclays pulled back -2.2%. Retail sales volumes weakened for an 11th consecutive month in August. Meanwhile, shops raised prices by the most since the end of 2023, according to the Confederation of British Industry distributive trades survey.

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The cost-of-living crisis and inflationary pressures has put pressure on people’s finances and made it harder for people to get on the housing ladder due to affordability constraints and more people having a less than perfect credit history. How important is your credit history for mortgage lenders? Looking into your credit history is one of the ways in which a mortgage lender will gain information on how reliable you have been at paying back debts and loans in the past. A mortgage lender needs to be confident that you’ll be able to keep up with your repayments across the whole lifetime of the loan. What if your credit history isn’t perfect? Don’t worry, if your credit history isn’t perfect, you're not alone! Many people experience minor setbacks in their credit history at some point. Such as missing a credit card payment, neglecting to pay utility bills on time, or going into an unarranged overdraft. These types of “credit blips” can leave a mark on your credit history but this doesn’t mean you aren’t eligible for a mortgage. Specialist mortgage support An expert adviser can assess your financial situation, including your credit history, guide you through the application process and increase your chances of getting approved for a mortgage by finding the most suitable mortgage deal for your circumstances. We have access to lenders who specialise in working with people with varying credit, whether you've had late payments, past debts, or no credit history at all, there are options available for you. Don’t let a credit blip throw you off track! Get in touch today. Call Richard Chamberlain on 01455 817477 or drop them an email on clientservices@planguardfinance.co.uk

Are you struggling to know where to start when buying your first home? Self employed/ credit debt/ relationship breakdown/ family looking to buy there first home At Planguard Finance we can help you from start to finish to make the process as easy and as manageable as possible! Contact the office today: Richard Chamberlain 01455 817477 or email us: clientservices@planguardfinance.co.uk

Six key factors that can affect your first mortgage application Applying for your first mortgage is an exciting milestone, but it can also feel overwhelming. Lenders assess numerous factors to determine your eligibility, and some seemingly minor financial decisions can significantly impact your application. To help you secure approval, here are six key areas to focus on before applying for your first mortgage. 1. Changes to outgoings Lenders consider your affordability based on your income and regular outgoings. Making significant financial commitments or increasing expenses before your application can reduce the amount you’re eligible to borrow. Avoid taking on new subscriptions, expensive memberships, or other recurring costs that could make lenders question your ability to manage mortgage repayments. 2. New credit applications Every time you apply for credit, such as a credit card, loan, or car finance, it leaves a mark on your credit report. Multiple credit applications in a short period can make lenders wary, as it may indicate financial stress. Before applying for a mortgage, avoid taking on new credit and focus on keeping your existing credit lines in good standing. 3. Outstanding debt High levels of outstanding debt can impact your debt-to-income ratio, a crucial factor in mortgage applications. Lenders assess whether you can comfortably afford mortgage repayments while managing existing debts. Paying down credit card balances, personal loans, and overdrafts before applying can improve your affordability and overall creditworthiness. 4. Electoral roll registration Being registered on the electoral roll at your current address helps lenders verify your identity and residence history. Not being registered can cause delays in your application or even lead to rejection. Check your voter registration status and update it if necessary before submitting your mortgage application. 5. Employment stability Lenders prefer applicants with stable employment or self-employment and a consistent income. Frequent job changes or being in a probationary period may weaken your application. If possible, avoid switching jobs right before applying and ensure you have at least three to six months of payslips to demonstrate a reliable income. 6. Excessive gambling Lenders scrutinise your bank statements to assess financial stability. Regular or excessive gambling, even if you can afford it, raises red flags about risk and financial management. If your statements show large or frequent gambling transactions, lenders may view this as a sign of financial instability, potentially affecting your approval chances. Final thoughts Taking the time to manage your finances before applying for a mortgage can improve your chances of approval and secure better loan terms. Avoid excessive gambling, limit unnecessary spending, reduce outstanding debt, and maintain a stable financial profile. If you’re unsure where to start, speaking with a mortgage adviser can help you navigate the process and find the right mortgage option for your situation. To book your appointment with a mortgage adviser, please call Richard Chamberlain on 01455 817477 or email richardchamberlain@theopenworkpartnership.com.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.