The average loan size for high loan-to-income (LTI) mortgages increased by between 4 and 7% following the implementation of the LTI flow limit according to a new paper by Adiya Belgibayeva at the FCA. In July 2014, the Financial Policy Committee (FPC) recommended that the FCA and PRA “ensure that mortgage lenders do not extend […]
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The Residential Landlords Association (RLA) is calling for the Chancellor to use his first Budget to stop the decline in the supply of rental housing. The firm cited the 3% stamp duty levy on extra housing added in 2016 as slowing down investment in new rented property, combined with landlord confidence being “extremely low”. Additionally […]
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A reader wrote in last week to tell me that Halifax’s claim that annual house price growth reached 4.1% in January doesn’t tally with what he’s seen. He told me that properties around Watford and Bournemouth have actually fallen in value by 15% year-on-year, which he said was based on contact with friends and family […]
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The property industry has appealed for stability after yet another housing minister was appointed last week. Esther McVey held the role of housing minister for just seven months before being replaced by Christopher Pincher (pictured), the 10th housing minister since 2010. The role of housing minister isn’t a cabinet one, meaning ministers tend to use […]
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Landwood Property Auctions sold £16.5m worth of property via its auction service in 2019, which it said marks a massive rise in activity. The company said switching to weekly online auctions was a key factor. The Manchester-based firm saw three times as many lots listed on its site compared to the entire 12-month period preceding […]
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The number of landlords operating in the UK fell to a seven-year low of 2.66 million in 2019. Hamptons International’s monthly lettings index found that the landlord count peaked in 2017 – last year there were 8% fewer than two years before. Measures like the reduction in mortgage tax relief, and 3% stamp duty surcharge […]
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Outdoor space tops the wish lists of UK tenants when searching for a rental property, research from yieldit has revealed. Almost half (42%) of tenants seek a garden, terrace or balcony when searching for the ideal home and only 11% would be content with a communal space. Other key features are parking (34%) and modern […]
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Christopher Pincher has been named the new housing minister, after Boris Johnson axed Esther McVey from the role. Pincher, the MP for Tamworth, becomes the UK’s 10th housing minister since 2010 – continuing the seemingly endless revolving door associated with the role. Throughout his career he has voted to phase out secure tenancies for life, […]
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There were 9% fewer cases of homeowners being in arrears of more than 2.5% in the fourth quarter of 2019 compared to the corresponding period in 2018. It’s a similar story with those in serious arrears of more than 10% of the mortgage balance, as there were 9% fewer cases. In all, there were 70,880 […]
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Residential Estates, Chester, has identified Preston as an investment property hotspot in 2020. Low asking prices and increasing investment into the region’s economy makes the city a top opportunity, the group said. While the city performed disappointingly since it obtained city status in 2002, it has improved since 2013, while in 2018 it was named […]
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