The South West of England is the leading UK region when it comes to rent increases, as they were 6.6% higher in September than the same month last year. HomeLet’s Rental Index shows that rents averaged at £902 in the South West in September 2020, up from £846 in September 2019. There were also strong […]
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London renters are increasingly looking to Hammersmith and Fulham, where rental enquiries have surged by 67% from last year, research from proptech lettings service Home Made has found. Other areas with strong demand, based on the total number of enquiries per property, are Ealing (2nd), Camden (3rd), Kensington & Chelsea (4th) and Tower Hamlets (5th). […]
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London Credit has completed a complex £1.8m refinance bridging loan for five residential properties located in North London. The client was a UK property investor holding a portfolio of five, freehold properties in Tottenham and Cockfosters, with a total value £3.3m. The 12 month loan, with an LTV of 54.1%, was used to consolidate two […]
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Buy-to-let investors are holding onto properties for a number of years, research from independent estate agents ludlowthompson found. Some 29% of investment properties sold in 2018 had been owned for more than 15 years, up from 22% two years previously. The agency said one in five investment properties sold in 2018 had been owned for […]
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PropTech company RentProfile has launched Onboarding, a product designed to automate and streamline the set-up and management of new tenancies during COVID-19. Onboarding removes the need for physical interactions and paperwork by remotely managing tenancy creation, agency terms, referencing, electronic signing of tennacy agreements, as well as the setting up of deposits and rent. Paul […]
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Liverpool estate agent Adam Sutton has warned that house prices could fall once the coronavirus recession kicks in. Adam Sutton, founder of Adam Sutton Estates, spent years working in the real estate sector in London’s Canary Wharf before setting up his own property selling business in Liverpool. He said: “Houses prices plummeted by an average […]
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The National Trade Standards has recommended for the introduction of legislation requiring agents to display referral fees. Mark Hayward, chief executive of NAEA Propertymark, said: “New legislation which will require agents to display referral fees is a step forward, providing clarity to agents that they mustn’t fall foul of the law but importantly ensuring greater […]
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Virgin Money has cut various buy-to-let mortgage rates – including its 75% LTV 2-year fix, which was reduced by 0.30% to 1.84% with a £995 fee. The lender’s 60% LTV 2 and 3-year fixes with a £1,995 fee have both been cut by 0.09% to 1.67%. Meanwhile Virgin’s 60% LTV 5-year fix has been reduced […]
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Propertymark has announced its partnership with Ellis Whittam to provide support estate and letting agents. The partnership means that Propertymark’s nationwide membership now has access to 24/7 on call legal advisory advice, as well as a range of online tools and templates to assist them through current operating challenges brought about by COVID-19. Ellis Whittam […]
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The number of dwellings where building work started stood at just 15,930 in Q2 2020, a 52% fall compared to Q1 2020, statistics from the Ministry of Housing, Communities & Local Government (MHCLG) show. Similarly, the number of new builds completed was 15,950 in Q2 2020, a 62% drop compared to Q1 2020. Andy Sommerville, […]
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