Breaking News
Demand for The Property Ombudsman (TPO) services continues to rise
The Property Ombudsman (TPO) has today released its 2017 annual report. Property Ombudsman Katrine Sporle confirms the number of complaints received rose by 3% to 3,658. TPO made financial awards to consumers in 2,408 instances which totalled £1.36 million, an increase of 11% on the previous year. The report reveals the top causes of sales…
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UK FINANCE REVEALS NUMBER OF INTEREST-ONLY MORTGAGES HALVES IN SIX YEARS
The number of interest-only mortgages has almost halved in the past six years, UK Finance figures reveal. There are currently 1.7 million outstanding interest-only mortgages (including partial interest-only), down 46 per cent since 2012. Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance, said: “The number of outstanding interest-only loans has halved…
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Shelter’s response to the government’s Hackitt review on fire safety following the Grenfell Tower fire
Shelter’s response to the government’s Hackitt review on fire safety following the Grenfell Tower fire. Polly Neate, CEO of Shelter, said: “Unfortunately the Hackitt Review has ducked a huge challenge by failing to ban combustible cladding outright. “We are deeply concerned that of the 189 social housing blocks with Grenfell-style cladding less than 4% have…
Allen Walkey
Lonres and Let Alliance join forces in a Strategic Partnership
LonRes, the independent data and agent network business, and Let Alliance, the specialist letting services provider, has announced that they are to join forces in a strategic partnership. LonRes Let Alliance, has been designed to meet the specific challenges of the London lettings market and is exclusive to LonRes subscribers. It offers the widest range…
Allen Walkey
Major Surveying Contract Win for LSL Property Services
LSL Property Services plc, a leading provider of residential property services incorporating both Estate Agency and Surveying businesses, has announced that e.surv Limited, its residential surveying and valuation services operation, has been awarded a material contract to supply surveying and valuation services to Lloyds Bank plc. LSL announced that Lloyds Bank plc surveying and valuation…
Allen Walkey
Small increase in lending to first-time buyers in March according to UK Finance
Latest UK Finance Mortgage Trends Update for March 2018 headlined ‘Remortgaging Market Softens In March After Busy Start To The Year.’ UK Finance’s Mortgage Trends Update for March 2018 has revealed a small increase in lending to first-time buyers compared to a year earlier, while remortgaging levels softened slightly after a busy start to the…
Allen Walkey
Government to give councils and housing associations the help they need to replace unsafe Grenfell-style cladding.
Comment from Shelter on the Prime Minister’s announcement that the government will fully fund the removal and replacement of dangerous cladding by councils and housing associations. Polly Neate, CEO of Shelter, said: “For more than six months Shelter has been calling on the government to step up to the plate, and today the Prime Minister did. “It’s great…
Allen Walkey
OnTheMarket now has listing agreements with over 8,000 agent branches
OnTheMarket plc, the agent-backed company which operates the OnTheMarket.com property portal, recently announced that as of 11 May it has signed listing agreements with UK estate and letting agents with more than 8,000 offices. This increase of over 2,500 branches since Admission on 9 February represents growth of over 45% in just over 3 months….
Allen Walkey
New partnership between the Residential Landlords Association (RLA) and the National Federation of Builders
New Partnership to help Landlords find trusted Builders. Many landlords don’t know where to turn when it comes to finding a builder they can trust, with many relying on word of mouth. This is set to change thanks to a new partnership between the Residential Landlords Association (RLA) and the National Federation of Builders, (NFB)…
Allen Walkey
New data shows a resurgence in buy to let activity in London and South East in Q1
Resurgence in London buy to let activity in Q1 of 2018 Latest data from specialist buy to let broker Commercial Trust Limited, indicates increased buy to let purchase activity in London, during the first quarter of 2018. The report shows that market share for buy to let applications in the capital increased for the first…
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Petition launched to reintroduce full mortgage interest relief and to drop the 3% stamp duty surcharge
Petition launched by Mark Homer to UK Government and Parliament. Reintroduce full mortgage interest relief and to drop the 3% stamp duty surcharge. Petition details as shown on Government website: ‘We call on the Government to reintroduce full mortgage interest relief and to drop the 3% stamp duty surcharge which is increasing homelessness by driving…
Allen Walkey
Rental growth picks up across Great Britain in April according to Hamptons International
Latest Hamptons International Monthly Lettings Index – April 2018 reveals that in April the average cost of a new let in the North fell for the first time in four years. The average cost of a new let reached £953 pcm in Great Britain in April, 1.9% up on the same period last year. Average…
Allen Walkey
Sellers losing out as over 300,000 property transactions are falling through every year
Over 300,000 property transactions are falling through every year due to broken chains and buyers changing their mind largely, costing sellers a total of £400 million, according to latest research from HomeOwners Alliance and IMMO. The survey exploring the experiences of home sellers, conducted by HomeOwners Alliance, and IMMO.co.uk, and polled by YouGov, found that 20%…
Allen Walkey
Home prices rose across England and Wales by 0.5% in May according to latest Asking Price Index report from Home.co.uk
Latest Home.co.uk Asking Price Index report – May 2018 headlined, ‘Summer Optimism Masks Market Melancholy’. The report reveals that home prices rose across England and Wales by 0.5% this month, reflecting seasonal optimism more than fundamentals. London prices continue to slide extending 12 month losses to -2.5%, the slowdown that began there now seems to…
Allen Walkey
Bank rate remains at 0.5%
The Bank of England published 10th May 2018 – Monetary Policy Committee announcement and Inflation Report. At its meeting ending on 9 May 2018, the Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain Bank Rate at 0.5%. The Committee voted unanimously to maintain the stock of sterling non-financial investment-grade corporate bond…
Allen Walkey