The FCA has issued financial firms fresh guidance on how they should support customers before they miss payments due to the pandemic. Actions they could take include suspending, reducing, waiving or cancelling further interest or charges, permitting a customer to make no or reduced payments, as well as agreeing a payment plan. The regulator said […]
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The 2% stamp duty surcharge affecting non-residents will seriously impact developers and may cause inflation, tax and advisory firm Blick Rothenberg has warned. The surcharge will come into force in April 2021 in England and Northern Ireland. Sean Randall, a partner at Blick Rothenberg, said: “Its aim is to control house price inflation by reducing […]
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The lockdown caused a marked decrease in the number of new tenancies between March and May – as they fell by 21% year-on-year to 61,972. On 26 March The Health Protection (Coronavirus, Restrictions) (England) Regulations 2020 was published, which imposed new restrictions on movement during the ‘emergency period.’ These emergency regulations stated that: ‘During the […]
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September was a busy month for home sales in the Greater Toronto Area, as detached home sales increased by 28% year-on-year. The median home price for detached properties in the City of Toronto for September 2020 was $1,185,000 (£689,457). There was also a 7% rise in condo sales. Across the City of Toronto’s 35 neighbourhoods, […]
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LendInvest has reported a record quarter for signed bridging applications in Q3 2020. Bridging applications were up 65% year-on-year in the third quarter compared to the same period in 2019. Justin Trowse, director of bridging at LendInvest, said: “It’s been a tremendous quarter for new short term lending business at LendInvest. “Our pipeline is a […]
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There was almost £600bn of equity available for release in UK homes in Q3 2020, an increase of £100bn from Q2, analysis from Canada Life has revealed. The figures, based on the latest Halifax quarterly Regional House Price Index, reveal that the total amount of housing equity available to homeowners aged over-55 now stands at […]
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Hargreaves Lansdown has urged buyers not to rush into moving due to the stamp duty holiday, given that it’s causing short-term price inflation. The Halifax house price index put inflation at 7.3% in the year to September, while home sales rose by 21.3% in the same month. Sarah Coles, personal finance analyst, Hargreaves Lansdown, said: […]
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Specialist buy-to-let lender Landbay has refreshed its core product range. The lender has introduced a free valuation on its 5-year fixed rate mortgage to 75% LTV, and reduced the rate from 3.69% to 3.65%. Title indemnity insurance is also offered across its ranges. Despite the slow lender times across the market, Landbay said most offers […]
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United Trust Bank (UTB) has funded a £7.6m development of new houses and bungalows close to Milton Keynes in Buckinghamshire. The development, in the sought after village of Newton Longville, is being completed by James Taylor Homes in a joint venture with Housing Growth Partnership (HGP). James Hutchinson, investment director of Housing Growth Partnership, said: […]
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Gino Capolino, co-founder and managing member of Manhattan-based contractor, Structure NYC In just a few short weeks, COVID-19 changed everything. No industry has been left untouched, and it’s pretty safe to say that most industries may never look the same again, at least for the foreseeable future. Few industries have felt the impacts of the […]
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