Yesterday marked the end the transitional period where tenants could be charged for references, credit checks, inventories and check-in or check-out reports. The 2019 Tenant Fees Act banned administration fees for new tenancies, though there was a transitional period up to May 31st 2020 where some fees could be charged if they were agreed before […]
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The Mayor of London Sadiq Khan has approved a £50m loan facility for Mount Anvil to help it purchase new sites and deliver new homes. Mount Anvil has 2,000 homes in its pipeline, while it plans to deliver 10,000 homes in London before the end of the decade. The developer will deliver 1,400 new homes […]
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As the UK struggles to return to normality amid the COVID-19 pandemic, the early signs seem positive for the housing market. Mortgage brokers I’ve spoken to are upbeat about the number of enquiries they’re receiving now people are permitted to move. It seems there is enough pent-up demand for the market to start moving again, […]
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Banks and other providers have committed to supporting commercial landlords ahead of the June/July rent quarter. They said they will support ‘viable businesses’ and are engaging with landlords ahead of the next quarter. Circumstances will be considered on a case-by-case basis, while providers have pledged to treat customers ‘sympathetically’. Stephen Jones, chief executive of UK […]
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House-sellers are being urged by estate agents to virally deep-clean properties to guarantee that sales go through. There has been a spike in demand for deep cleaning services from house-sellers. Chris Alexander, branch manager at Aspire Estate Agents, said: “In the last week we’ve had safety concerns from buyers who won’t move into a new […]
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Aaron Strutt, product director at Trinity Financial A selection of buy-to-let lenders have eased their acceptance criteria as they look to ramp up the number of mortgages they provide. Many of the banks and building societies have increased their maximum loan sizes, lowered their rates and reduced the size of the deposit landlords need to […]
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Landbay has launched a product range with loan-to-values up to 75%. Rates start from 3.39%, while the firm will lend both on large and small houses in multiple occupation (HMOs) of up 12 units, multi-unit freehold blocks (MUFBs) and new build properties. Paul Brett, managing director of Intermediaries at Landbay, said: “It is good to […]
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Intermediaries remained confident in their own businesses’ outlook throughout the first quarter of 2020, research from the Intermediary Mortgage Lenders Association (IMLA) found. This is despite falling confidence in the wider mortgage market in March due to the COVID-19 outbreak. Kate Davies, executive director of IMLA, said: “It’s no real surprise that the coronavirus lockdown […]
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Mayor of London Sadiq Khan has warned that many of London’s private renters are facing imminent homelessness, unless the government acts to properly protect them from eviction. In March the government announced the suspension of evictions for three months to stop renters losing their homes during the crisis. Despite this, some landlords have still issued […]
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Residential landlords are heavily exposed to younger people falling into financial distress as a high proportion of young people work in retail or the gig economy, research by payment technology firm flatfair and real estate investor Rowan Asset Management has found. Nearly one in two of the over 2.8 million retail workers in the UK […]
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