Around £1.2bn worth of deposits are not protected in tenancy deposit schemes, analysis from Hamilton Fraser’s deposit replacement provider Ome has found. The Center for Economics and Business Research (CEBR) estimates that 14.5% of all deposits held are not protected by landlords or agents, while around 1.1 million tenancy deposits are unprotected. Landlords who fail […]
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Financial firms appear pleased that the Bank of England opted to leave interest rates unchanged at 0.75%. Yesterday the Monetary Policy Committee voted 7-2 to keep rates on hold, which has been taken as an endorsement of the state of the economy. Giles Coghlan, chief currency analyst at HYCM, said: “In many ways, the decision […]
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Mortgage brokers expect an uptick in buy-to-let mortgage business over the next 12 months, Paragon’s FACT research has revealed. In the final quarter of 2019 one in four (24.5%) buy-to-let mortgages were written for landlords looking to extend their portfolios, the highest level since Q1 2017. Richard Rowntree, Paragon managing director of mortgages, said: “Buy-to-let […]
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Three quarters of private renters would like to decorate their home, Shelter research has revealed. Almost a third would be more likely to invite family and friends over there if they could add personal touches to their house. Polly Neate, chief executive of Shelter, said: “Every day our team of specialist DIY skills advisers see […]
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Chestertons estate agents is looking to make acquisitions after upping profits by 60% in 2019. The company’s lettings division upped revenue by 10% year-on-year, while its sales operation saw 7% growth in revenue despite London seeing 12% fewer transactions than 2018. Guy Gittins, managing director of Chestertons, said: “To have come through one of the […]
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The number of new build starts fell by 7% to 157,550 in the year to September 2019, signalling that the government is failing to meet its housebuilding targets. On a more positive note completions rose by 9% to 177,980 – however that is still well short of the government’s aim to deliver 300,000 homes a […]
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Plans have been approved for the next phase of a 3,000-home new town taking shape to the west of Newcastle. Ashberry Homes will build 184 new homes on land at Callerton after planning permission was granted by Newcastle City Council. Darren Pelusi, sales manager for Ashberry Homes Durham, said: “We are naturally pleased that our […]
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Annual house price growth jumped to 1.9% in January 2020, up from 1.4% in December 2019, Nationwide’s House Price Index has revealed. House prices jumped up by 0.5% on a monthly basis – further signs that the housing market is finally bouncing back from a sluggish 2019. Between November 2018 and 2019 yearly house growth […]
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A tax specialist has warned homeowners who rent out another property that they must prepare ahead of a ‘game-changing’ tax change. From April, those who own more than one house may pay higher taxes when they come to sell the property as part of a government overhaul of the ‘lettings relief’ tax arrangements. Gary Priest, […]
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The proportion of tenants negotiating rent reductions fell from 1.6% in November to 1.1% in December, the lowest figure since records began in January 2015. In contrast, ARLA Propertymark’s December PRS report found that 32% of agents witnessed rent increases in December. This figure is up from 16% in December 2017 and 18% in December […]
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