Risk-averse landlords are remortgaging primarily to build a war chest, research from Mortgage for Business has revealed. Some 30% of property investors are now taking out a buy-to-let remortgage with a view to expanding their portfolio and growing their cash reserves. Nearly half (46%) are increasing the size of their loans – significantly higher than […]
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Despite talk of pent up demand fuelling a housing market recovery the rebound will likely be a slow and gradual process, warned James Durham, economist at PwC. The Brexit deadline, losses to the hospitality and tourism sectors, as well as people moving out of major cities are also likely to have a dampening effect on […]
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The number of mortgage approvals for house purchase fell to just 9,300 in May, 90% below February levels, the Bank of England’s Money and Credit statistics found. Approvals for remortgage also fell by 42% from February to 30,400. Paul Stockwell, chief commercial officer of Gatehouse Bank, said: “The number of mortgage approvals in May is […]
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Rent cancellation would hit pensioners who rely on the income for their retirement, warns Ringley Group managing director Mary-Anne Bowring. Over 4,000 Labour party members signed an open letter backing rent cancellation as a policy. Labour’s five-point plan to help renters includes extending the evictions ban by at least six months and giving tenants two […]
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Home Counties housebuilder Martin Grant Homes has acquired a 33.5 hectare redundant farm site in Church Crookham in Hampshire. The builder will now start work on delivering 300 homes at Albany Park set off Redfields Lane. The site will comprise of 180 private and 120 shared ownership/affordable rent properties, alongside a doctor’s surgery, food retail […]
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Kent Reliance for Intermediaries and EY have launched a guide for property investors on the changes to the UK tax system. The guide, entitled “Changes to UK Tax Relief on Finance Costs”, has been compiled to inform its intermediary partners on the key considerations faced by their landlord clients and how they run their rental […]
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The UK currently enforces two tenant eviction bans, both of which were extended in June. For residential tenants the ban will last until the end of August after a two-month extension, while commercial tenants have seen the ban lengthened by three months until the end of September. Clearly this is a difficult time for tenants, […]
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People in Scotland can buy and sell homes once again from today. The Scottish government stressed the importance of physical distancing and hygiene, while it encouraged virtual viewings and other parts of the process to be completed online. The number of people allowed to view a property at the same time is restricted, while surfaces […]
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Bright Spaces, a company providing 3D showcasing software for commercial properties, is looking to build partnerships with UK developers and landlords this year. The company, which started in Bucharest in Romania, secured pre-seed funding of EUR 185,000 in November 2019, while the group is now entering a second funding round in the UK. Bright Spaces […]
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Gloucestershire is the safest place to buy a home, based on crime rates including sexual offences and robbery. Property buying company Good Move said other very safe areas are North Yorkshire, Wiltshire, Surrey and Devon/Cornwall. At the other end of the spectrum West Yorkshire – which includes cities like Leeds, Bradford and Wakefield – is […]
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