The impact of coronavirus will be felt for decades, as debt burdens rise and people push back from globalisation, Neil Shearing, group chief economist at Capital Economics has written. Shearing warned we are likely to see the biggest fall in GDP since the Second World War. This is as a result of lockdowns curbing supply […]
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Chancellor Rishi Sunak has unveiled a ‘Bounce Back Loans scheme’ offering loans up to £50,000 interest free for the first 12 months. The amount that can be borrowed is capped at 25% of turnover, while it will open on 4 May. Rishi Sunak, the Chancellor, said: “Our smallest businesses are the backbone of our economy […]
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The current social distancing measures highlight the critical importance of incorporating quality green spaces within housing developments, said ecology consultancy Ecological Planning & Research Ltd (EPR). The lockdown period has been arguably far harder to cope with mentally for people with limited access to green space. Ben Kite, managing director of EPR, said: “The limitations […]
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Latinx, Asian and black households in the US are feeling the impact of job losses due to COVID-19 most severely, Zillow analysis shows. More than 22 million Americans have filed unemployment insurance claims over the past four weeks, including many in the food, arts and retail industries. Latinx, Asian and black workers are disproportionately represented […]
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Gareth Samples will be appointed as chief executive of the Property Franchise Group from 30 April. Samples has been working with current CEO Ian Wilson to form a strategy on coping with the impact of COVID-19 before the latter’s retirement at the end of the month. The company, which comprises of six estate and lettings […]
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Today’s news that 85% of buy-to-let lenders still remain in the market demonstrates how robust these institutions are. I think we’re seeing evidence that the reaction to the global financial crisis – where firms started lending more carefully and having plenty of capital in reserve – means they better set up to withstand difficult conditions […]
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Some 42 of the 49 buy-to-let lenders operating at the beginning of March are still lending despite the impact of coronavirus, analysis from Mortgages for Business shows. Together Money and Vida Homeloans have both pulled out of the market, while HSBC is no longer accepting buy-to-let applications. However Santander, Clydesdale, Precise Mortgages and Kent Reliance […]
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Miles Robinson, head of mortgages at online mortgage broker, Trussle We’re living through an extraordinary health and economic crisis. We’ve not experienced anything quite like this in our modern day. The coronavirus outbreak has caused disruption across the economy, and we’re now feeling the impact in the mortgage market too. As the situation continues to […]
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Seven out of 10 (70%) tenancies that were due to end in March were renewed – as people looked to stay put amid the lockdown, the Hamptons International Lettings Index has found. This is the highest level recorded in any March since 2008, when 77% of tenants renewed. However, rents on renewed tenancies in Great […]
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Huddersfield based property firm Bramleys worked with property developer Heywood Homes to turn round a house completion in a record eight working days despite the current situation. The firm received a call from a client that needed a property to move into immediately, and after speaking to the Heywood Homes team the couple were able […]
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