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The Financial Conduct Authority (FCA) has confirmed that it has removed barriers that stop some mortgage customers from finding a cheaper mortgage deal. The new rules allow lenders to use a different and more proportionate affordability assessment for customers who meet certain criteria, such as being up to date with payments under their existing mortgage […]

The post Financial watchdog removes barriers in a bid to help mortgage prisoners appeared first on PropertyWire.

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Buyers spent a total of £2.06 billion on super prime properties in London in the year to May 2019. This was marginally higher than a figure of £2.05 billion in the previous 12 months, according to super prime sales market insight report for Winter 2019 from international real estate firm Knight Frank. The market for […]

The post Super prime property market in London seeing resilience in the face of Brexit appeared first on PropertyWire.

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The cost of selling a home through a High Street estate agent can vary by as much as 261% depending on the postcode, according to new research. The figures from GetAgent for consumer group Which? Money analysed more than 40,000 branches that listed properties in over 2,400 postcode areas. It found the average estate agent […]

The post Analysis reveals huge gap in estate agent fees appeared first on PropertyWire.

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The equity release market increased by 8% in the third quarter of 2019 in the UK as older home owners unlocked almost £11 million of property wealth per day. Overall, equity release products provide £988 million of funding to owners aged 55 and over and 33,000 new customers have used property wealth to support their […]

The post Equity release market increased by 8% in third quarter of 2019 appeared first on PropertyWire.

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The Berlin City Government has approved a five year rent freeze from early next year which has implications for buy to let landlords investing in the lettings market, it is suggested. The new legislation caps rent at €9.80 per square metre until the end of 2024 and landlords will only be able to increase rents […]

The post Four year rent freeze to be introduced in Berlin appeared first on PropertyWire.

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Older home borrowers who didn’t seek advice on their last mortgage deal are more likely to be on a variable rate mortgage, such as their lender’s SVR, it is claimed. Some 52% of borrowers aged 55 and over who didn’t seek advice are on a variable product could potentially be missing out on competitive fixed […]

The post Older home borrowers not switching are losing out, new research suggests appeared first on PropertyWire.

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New development corporations are being given funding to kick-start work towards creating new towns and communities in England on a scale not seen since Milton Keynes and Canary Wharf were build. The Government is to provide £10 million in seed funding for councils to develop initial proposals for up to 10 new communities which will […]

The post Funding announced for next generation of new towns in England appeared first on PropertyWire.

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Buyers and sellers could be required to sign £1,000 reservation agreements as part of plans by the Government to end gazumping. A trial of reservation agreements is set to get underway early next year where some of the money paid would be used as compensation if either buyer or seller pulls out without a good […]

The post Home reservation agreements to be trialled in new year appeared first on PropertyWire.

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The majority of people are supportive of more homes being built in their local area with 57% doing so and just 23% being opposed to the developments, according to the latest British Social Attitudes survey. The survey, run annually by the National Centre for Social Research (NatCen) and published by the Ministry of Housing, Communities […]

The post Just 23% opposed new homes being built in their area, annual survey shows appeared first on PropertyWire.

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