The Conservative Party has pledged to introduce ‘lifetime’ fixed rate mortgages for renters with a 5% deposit. The party would use funding from institutional investors like pension funds to support the move. There was also a pledge to offer local first-time buyers a 30% discount. Mark Harris, chief executive of mortgage broker SPF Private Clients, […]
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Residential property transactions increased by 4.3% on a monthly and yearly basis in October 2019, seasonally adjusted statistics from the HMRC show. There were 103,680 residential property transactions in the month. Mark Harris, chief executive of mortgage broker SPF Private Clients, said: “The fact that transactions have edged up slightly compared with last month and […]
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US rents are rising at their fastest pace of the year, increasing by 2.3% in the year to October 2019. The October Zillow Real Estate Market Report found that the median US rent is now $1,600. The company said rents would likely keep accelerating through the end of the year. Skylar Olsen, director of economic […]
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More than half of lenders expect application programming interfaces (APIs) to provide the most transformative efficiency gains over the next three to five years, Iress research has revealed. While the short-term focus is on API development and connectivity, lenders believe AI and machine learning will become a greater priority in the medium to long term. […]
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InterBay Commercial has refinanced a 95 unit buy-to-let portfolio for two property developers, raising just over £23.7m. The properties were held by two UK limited companies, which in turn were owned by a UK family trust. Most of the properties were held for over 10 years. Adrian Moloney, sales director, OneSavings Bank, said: “This deal […]
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Four in five (80%) homebuyers would like the government to introduce laws preventing gazumping in England and Wales. A third (31%) have experienced the phenomenon in the past decade, research commissioned by Market Financial Solutions has revealed. Two in five (39%) had to pay fees to intermediaries despite not completing on a property purchase. Paresh […]
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The Liberal Democrats pledged to up housebuilding, crack down on second homeowners and introduce mandatory landlord licencing in the party’s manifesto, ahead of the general election taking place on 12 December. Here are the key housing pledges: Build 300,000 homes per year by 2024 through direct spending, including 100,000 social homes. The housebuilding pledge has unsurprisingly […]
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Three former directors from commercial real estate consultancy Lambert Smith Hampton (LSH) have launched a retail and leisure property consultancy in Manchester. Richard Lyons, Tim Letts and Jonathan Thompson (Left to right) opened the doors to new agency Lyons Thompson Letts Property Consultants this week, having taken space at Worklife in central Manchester. Formerly of […]
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Regular property visits can help to protect letting agents and their landlords from the growing risk of subletting scams, inventory services provider No Letting Go has warned. No Letting Go said there has been a rise in the number of subletting scams in recent months, particularly when it comes to fraudsters using short-term lets platforms […]
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A campaign to raise public awareness of new safety regulations affecting all homes has been launched by SELECT, Scotland’s trade body for the electrical industry. Under the new laws, every residence throughout the country must have an interlinked warning system for smoke, fire and carbon monoxide detection by 1 February 2021. To help comply with […]
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