There were 70,710 property transactions in July, 14.5% more than in June but still 27.4% less than in July last year, the HMRC’s seasonally adjusted figures show. The HMRC said the stamp duty holiday announced on July 2020 is unlikely to impact transactions until late August or early September. Anna Clare Harper, author of Strategic […]
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Individual self builders would be more likely to consider brownfield sites if they were offered financial incentives like commercial developers, according to the latest research by Ipswich Building Society. The research revealed that 82% of potential self builders would feel more inclined to consider a brownfield site if they were offered a tax break such […]
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Craig Upton, marketing director of UK Property Finance New research from The Halifax reveals that UK house prices set a new record after four months of falls, with a 1.6% rise in July up from £237,834 in June, raising average property values to £241,600. House prices have risen 3.8% year-on-year in a surprising spike after […]
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The tenant eviction ban has been extended by a further four weeks, which could serve as a frustration for landlords hoping to evict tenants. The ban on evictions, which was due to expire this Sunday, has been extended until 20th September. Habib Khan, solicitor and property disputes specialist at law firm, Shakespeare Martineau, said: “The government’s decision to […]
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More than half of brokers have seen an increase in buy-to-let purchase business in recent weeks, with more than 30% seeing an increase in individual purchases and nearly 27% seeing an increase in limited company purchases according to research amongst users of the online broker forum Cherry. The poll found that purchase activity is currently […]
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Letting agents should prepare for changes to the repossession process following the ban on evictions coming to an end this month, according to rental payment automation platform PayProp. Changes include a new pre-action protocol, a temporarily extended notice period and potentially longer waiting times for court hearings. According to PayProp, agents will play a crucial […]
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A new property management assistance website entitled ‘Block in a Box’ is coming to market on 21 September. The website is designed for those who manage a block of apartments in the UK, and will act as a gateway to suppliers nationwide ranging from contractors to valuation services so that property managers are able to […]
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Property construction is starting to return, as recruitment agency Sphere Solutions reveals. Permanent construction workers are getting back on site, though there are currently only around 40% compared to pre-lockdown levels. Meanwhile there are 60% of temporary workers compared to before the lockdown. Both are steadily increasing. James Hughes, managing director of Sphere Solutions, said: […]
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Legal & General Mortgage Club has raised concerns about the widening gap between supply and demand after the lockdown period. One in four people (25%) plan to buy a home in 2020, with a further 28% saying they are considering a property purchase this year. However only 4% of homeowners are looking to sell this […]
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TSB has upped its buy-to-let stress rate to 5.5% across most of its products. This applies for remortgages and fixed rates spanning at least five years. Meanwhile digital lender Selina Finance has increased its maximum LTV for portfolio landlords for 75% LTV for those taking out a revolving credit facility against multiple properties. Selina has […]
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