The government will provide £400m for Mayoral Combined Authorities and local areas to build housing on brownfield land across the country. The Chancellor is expected to follow up that announcement with planning reform measures today. Randeesh Sandhu, chief executive of Urban Exposure, said: “We’re really pleased there’s been a focus on innovating the planning process […]
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Yesterday’s Budget has been praised for focusing on regions of the UK outside London and the South East. The Chancellor of the Exchequer, Rishi Sunak, said there will be £640bn of public investment to help Britain’s infrastructure and public services. James Thornton, chief executive of Mayfair Capital, said: “Regional cities that see improved transport and digital […]
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The Bank of England has made an emergency base rate cut of 0.50% to deal with the economic shock caused by the coronavirus outbreak. This brings the interest rate from 0.75% to 0.25%. The Bank’s Monetary Policy Committee was due to meet on March 26, but met yesterday at a special meeting to unanimously make […]
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The government made multiple housing pledges in the Budget today. There will be £1.1bn allocated from the housing infrastructure fund to build almost 70,000 homes in high-demand areas. The Affordable Homes Programme, which was introduced in 2016 and was due to end next year, is being given a £12.2bn extension and will run until 2025. […]
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The Westbury Hotel owner Cola Holdings has instructed Savills to seek offers for its freehold luxury investment portfolio in Mayfair. The 225-bedroom hotel, the Burberry store on Bond Street and Washington House is a self-contained building occupied by the private members Conduit Club. Anthony Selwyn, co-head global retail at Savills, said: “It is extremely rare […]
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High street lenders RBS, NatWest, TSB, Virgin Money and Santander will allow those affected by coronavirus to defer mortgage and loan repayments. RBS and NatWest will allow customers affected by coronavirus to defer payments by up to three months, with TSB offering a repayment holiday of two months. There is some ambiguity as to how […]
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Mike Scott, chief property analyst at estate agency Yopa The Budget will take place today, and the new Chancellor, Rishi Sunak, will want to put his stamp on the economy. The housing market is not working well at present, with home ownership rates falling, especially for younger people, and at Yopa we believe the government […]
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Steven Hiltermann (pictured), general manager, Badi UK The rental market is booming. The attractiveness of our urban centres with their diversity, entertainment and professional services continues to increase. In fact, in 2016 the number of renters in London exceeded homeowners for the first time and it’s projected that by 2050, 68% of the world’s population […]
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The FCA may force lenders to tell their customers how much they could save on their mortgage by switching internally. As revealed in mortgage switching research released yesterday, the regulator said this would be “the most effective solution” and could be brought up by harnessing “consumer touchpoints”, for example when consumers call or go into […]
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Rich Hyams, director at astudio The last few years have been a time of palpable change for sustainability. The way we view and behave towards our planet has started to change dramatically, with the public more supportive to the cause. Businesses too are recognising the need for urgency, however some industries have much more to […]
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