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US real estate marketplace Zillow has stopped buying new homes in the 24 markets where it operates. Zillow Offers works by purchasing homes, refurbishing them and selling them on. It will continue marketing and selling the homes it already owns. Rich Barton, chief executive of Zillow, said: “Our top priority is ensuring the safety and […]
The post Zillow Group stops buying new homes due to coronavirus appeared first on PropertyWire.
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West Brom Building Society has withdrawn its remortgage product range in response to the coronavirus outbreak. Already submitted applications will continue, while those with a decision in principle have seven days to submit their application. In an email to mortgage brokers, West Brom said: “In light of recent developments concerning the coronavirus which presents a […]
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Some 300 homes are being made available for rough sleepers in the capital, Mayor of London Sadiq Khan has announced. The Mayor, who is being backed by the government, has worked with Intercontinental Hotels Group to block-book the rooms in two London hotels for the next 12 weeks. Over Friday and the weekend, as part […]
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Slough is the top location to purchase a buy-to-let property, according to lettings management company Howsy. The town has some the highest average wages, good rental values and yields, as well as growing house prices (until the COVID-19 outbreak). It is also in a prime position along the Crossrail route, while there will be access […]
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Almost two thirds (64%) of tenants cannot afford a deposit to allow them to purchase their own home, research from yieldit has found. This represents a significant increase from the 56% who said they couldn’t afford a deposit in late 2018. Just a third (34%) are currently saving for a deposit, while a fifth (26%) […]
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Leumi UK, the London-based subsidiary of an Israeli international bank, has closed a £27.5m deal with property developer Oranim Group to refinance Woodland Views in London. This comprises of two residential blocks located at 20-22 Quebec Way. Andy Mallin, chief brand officer at Leumi UK, says: “This new deal is the first to follow a […]
The post Bank Leumi UK signs £27.5m refinancing deal with Oranim appeared first on PropertyWire.
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It’s been another week of escalation – the number of coronavirus-linked deaths in the UK is 177 at the time of writing. The one positive is the government is finally taking this outbreak more seriously, with the £350bn stimulus package being followed by increases to universal credit and housing benefit, while the Bank of England […]
The post A new kind of recession appeared first on PropertyWire.
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The National Federation of Housebuilders (NFB) has appealed to the government to help SME developers under pressure due to the pandemic. The body said many medium sized businesses are too large for the small business, Coronavirus Business Interruption Loan Scheme (CBILS) but too small for the investment grade loans, though the Corporate Financing Facility (CCFF). […]
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The government has increased housing benefit and universal credit so the Local Housing Allowance will cover at least 30% of market rents. Almost £7bn is being pumped into welfare to protect people’s incomes. Universal credit is being increased by £1,000 a year, with the standard allowance of £323.22 a month for a single person and […]
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Global real estate advisor CBRE is urging the Scottish government to reconsider the introduction of a section of the Non-Domestic Rates (Scotland) Act which will remove Scottish businesses’ rights to lodge rating valuation appeals based on economic changes. The Act is due to come into force on 1 April 2020. Brian Rogan, head of CBRE […]
The post CBRE asks Scotland to reconsider removing Scottish businesses’ rights to lodge rating valuation appeals appeared first on PropertyWire.
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