Mortgage payment holidays have been extended for three months to October 31st. UK Finance data shows that some 1.82 million mortgage borrowers have been granted a mortgage payment holiday, which accounts for one in six mortgages in the UK. John Glen, the economic secretary to the Treasury, said: “We’re doing everything we can to help […]
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The stamp duty land tax has attracted numerous column inches since it was introduced in December 2003. Lately of course, companies like the Royal Institution of Chartered Surveyors have been calling for a stamp duty holiday to kick-start the housing market, and you can see why they are shouting loud. The tax is a political football […]
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The Nottingham Building Society has reverted its maximum LTVs back to 80% for residential mortgages. The society said it would look to raise buy-to-let LTVs as soon as possible. Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “This is the latest step in our phased return to adding lower deposit products to our […]
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Mint Bridging has launched two products designed for the building development market. One product has a monthly rate of 0.89% and is for a maximum four-house scheme with a loan value of up to £750,000. There is a 55% loan-to-GDV (gross development value), which the lender said was reflective of the current climate. Alternatively, for […]
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HUB has completed Chesterfield House in Wembley, North London, a 239-home build-to-rent development designed by architects Maccreanor Lavington. The landmark scheme, which comprises two buildings of 21 and 26-storeys, has been handed over to Realstar, which will operate Chesterfield House under its UNCLE brand. The development is now known as UNCLE Wembley. Alex Hall, senior […]
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Mortgage payment holidays are likely to be extended past June, according to a report in the Financial Times. Chancellor Rishi Sunak is said to be in discussions with the banking sector about an extension. Salman Haqqi, personal finance expert at money.co.uk, said “The government’s initial launch of mortgage holidays brought welcome relief for homeowners who […]
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Residential property transactions dropped in April due to the lockdown measures, UK Property Transaction Statistics from HM Revenue & Customs show. Seasonally adjusted transactions in April fell by 53.4% year-on-year and 46.1% from the month before. There were 46,440 residential transactions last month, as well as 5,930 non-residential. Shaun Church, director at mortgage broker Private […]
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Chancellors is launching deposit-free renting in partnership with Canopy. Canopy offers landlords eight weeks cover as opposed to the standard five weeks with a cash deposit. Chancellors has taken out a deposit insurance policy across its managed portfolio. Tenants renting with Chancellors will simply need to complete Canopy RentPassport and within minutes, find out whether […]
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Buyers are typically willing to pay £4,000 more for a property with an en-suite bathroom, a survey commissioned by Mira Showers found. When it comes to where the bathroom is situated within a property, almost half (49%) of buyers would offer less if the bathroom was only accessible via the kitchen. They’d typically pay around […]
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Commercial landlords are increasingly concerned about the economic impact of the coronavirus pandemic on their tenants and property portfolio, Paul Hinchliffe, commercial property solicitor at Nelsons said. Hinchliffe has been approached by landlords asking for advice on how they can balance their own books while their tenants are struggling due to enforced closures. He said: […]
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