Posts by Allen Walkey
Interest rates remain at 0.5%
The Bank of England (BoE) decided yesterday to keep interest rates unchanged, the BoE unanimously agreed to maintain rates at 0.5% and leave the asset purchase programme at £375bn, this was what analysts were expecting. The decision to keep rates as they are comes amid concerns about weak wage growth, low inflation and a global…
Read MoreAverage rents rise as landlords get squeezed.
Tenants in the private rented sector (PRS) are now beggining to feel the affect of George Osborne’s policies over the last year, the attack on Landlords has been virtually non stop, last year’s Autumn Budget and Spending Review certainly was the last straw for many property investors, many came out losers following the way tax…
Read MoreMiddle East investors not put off by “Brexit”
The possibility of Brexit does not appear to persuade Middle East investors away from choosing London as their preferred destination when it comes to investing in property in the Capital. A joint survey conducted by estate agency Cluttons and YouGov of 127 high net worth investors from Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait…
Read MoreFairer deal for renters
Haringay Council is now set to offer a new non profit making letting agency service which is aiming to give tenants a “fairer deal” whilst offering landlords reliability and affordability. Move 51 North, the not for profits letting agency was set up by the council housing management company Homes for Haringey, it is pitched as…
Read MoreSNP vote for rent controls north of the border.
Delegates at the Scottish National Party Spring Conference have voted in favour of introducing national rent controls for all Scottish tenants, this would be quite a shake up to the buy-to-let market north of the border. The SNP would need to win a majority in the forthcoming Scottish general election to implement these plans, if…
Read MoreSurge in Scottish home purchases
Highest January home sales in eight years according to the Your Move & Acadata Scotland House Price Index report. Scotland sees highest January sales since 2008, up 24% year-on-year with rush to avoid Land and Buildings Transaction Tax (LBTT) surcharge. Biggest uplift in Midlothian, rising 38% on January 2015, as flats and terraced houses are…
Read MoreLandlords and tomorrow’s budget
Buy-to-let lender Paragon has reportedly put it to the Chancellor George Osborne not to make further changes to tax on landlords ahead of the budget that will be announced tomorrow. Landlords in the UK feel increasingly under attack especially over the last 12 months, with legislation such as the EU Mortgage Credit Directive and increase…
Read MorePrivate rented sector rents continue to rise.
Homelet Rental Index February 2016 The cost of taking on a new tenancy in the private rentals market continues to rise, with the average rental agreement signed in the UK outside of London during the three months to February 2016 costing 4.8% more than in the same period a year ago, new data from the…
Read MoreConservative candidate for London Mayor
Last week we had a brief look at both the Labour and Libdem candidates for London Mayor, today we take a look at Zac Goldsmith, the Conservative candidate, with the vote taking place in around 50 days Zac is trailing Labour’s Sadiq Khan at the moment in the polls but that could all change as…
Read MoreSpending cuts expected in this years budget
The spring budget will be delivered by George Osborne this wednesday, he will set out the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility (OBR) plus tax change proposals for the following financial year. According to the BBC the the Treasury said it would not comment on…
Read MoreSubstantial increase in remortgage lending
The Council of Mortgage Lenders (CML) data shows on an unadjusted basis, lending in January. Home-owners borrowed £8.4bn for house purchase, down 25% month-on-month but up 12% year-on-year. They took out 46,200 loans, down 27% on December but up 5% on January 2015. First-time buyers borrowed £3.3bn in January, down 27% on December but up 14% on January…
Read MoreOver 150,000 completions under Help-to-Buy
Over 150,000 people have achieved their aspiration of home ownership thanks to the government’s flagship housing scheme Help to Buy, according to a recent announcement from the Department for Communities and Local Government. Since the launch of the Help to Buy equity loan and mortgage guarantee schemes: Over 150,000 completions under the scheme have taken…
Read MoreIncreased activity due to stamp duty deadline
UK property prices are expected to slow in the coming months due to concerns about the June 23 European Union referendum and global economic uncertainty, February saw strong growth in property prices across the UK except for London, the rush to buy before the stamp duty hike in April will probably see strong figures continue …
Read MoreLabour London Mayor candidate launches manifesto.
Labour’s London Mayoral candidate Sadiq Khan reportedly announced yesterday plans in his manifesto to “name and shame” rogue landlords through a New York City-style website, it would be based on a scheme set up by New York mayor Bill de Blasio, it would provide a database of landlords who had been successfully prosecuted for housing-related…
Read MorePlanning permissions hit 8 year high
New figures published yesterday (8 March 2016) by the Department for Communities and Local Government, show that the number of planning permissions for homes rose 6% on a year earlier, as housing measures continue to turn the market around and build more homes for hard working families and first time buyers. The number of major…
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