The government will support the UK’s self-employed workers with a cash grant of 80% of their profits over the past three years, up to £2,500 per month. They will receive cash for three months, from what is known as the Self-Employed Income Support Scheme. This is designed to bring parity with the Coronavirus Job Retention […]
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Mortgage lenders are reducing or pulling out of new mortgage lending owing to the coronavirus pandemic. Barclays has withdrawn over 60 mortgage products, most of which comprise of deals over 60% loan-to-value. The lender has pulled out of portfolio buy-to-let entirely, while it is also restricting lending volumes. Specialist lenders Vida Homeloans and Together, as […]
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People should stop plans to exchange house contracts or rent somewhere new, cabinet minister Michael Gove has said. Potential buyers have already been cancelling viewings with estate agents, while mortgage lenders including Barclays are limiting their lending. Gove said: “If it is possible, pause. “There will be specific circumstances where moving down that chain, the […]
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Mortgage rates in the US have risen after there was a rush to refinance in early March, a Zillow real estate report shows. Refinancing was up 479% year on-year in early March, with the Federal Reserve cutting interest rates twice to 0.25% over the period. Since then however typical mortgage rates have jumped by a […]
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Estate and letting agents that closed due to coronavirus will be exempt from business rates in the next financial year. If businesses have already made a payment they will be refunded by their local authority. Rishi Sunak, Chancellor, said: “We are determined to do whatever it takes to support businesses during Covid-19, which is why […]
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By Mark Lewarne, head of real estate & workplace strategy at The Commercial Real Estate (CRE) sector has had some ups and downs over the years, but nothing could have prepared it for the unreal scenario currently confronting us all. On Tuesday (23 March), the government made two significant announcements: firstly, that only essential workers […]
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A 100-home development is set to launch in a Staffordshire village next month. Bellway is building the homes on a 14.7-acre site in Rolleston-on-Dove, near Burton upon Trent. The first homes at the development, which has been named Rolleston Manor, are to be released for sale in the summer. Marie Richards, sales director for Bellway […]
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The National Federation of Builders (NFB) has called for a consistent message from the government about safe on-site working practices. Housebuilder Taylor Wimpey is one of few firms to have closed its sites to protect the spread of coronavirus. Yesterday Prime Minister Boris Johnson said people may only leave home to exercise once per day, […]
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House prices will fall due to fallout from the COVID-19 pandemic, according to some experts. Ray Boulger, senior technical manager of broker John Charcol, predicted house prices to tumble by 10% over the next three months. Boulger said transactions should be even lower than in 2009 after the global financial crisis, as economic uncertainty dissuades […]
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The average deposit being paid by tenants has fallen by -10.3% since the ban on tenant fees was introduced in June 2019. The average tenant in England was paying £1,098 for a rental deposit in the six months prior to the tenant fee ban, though it fell to £985 in the six months after, research […]
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