Breaking News
Bank of England holds interest rate at 0.5%
Bank of England announced yesterday 22rd March 2018 to hold interest rate at 0.5%. The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 21 March 2018, the MPC voted by a…
Allen Walkey
Almost £300 million government investment to deliver more homes across England
Government Investment to unlock more homes across England announced yesterday 21st March 2018. Almost £300 million government investment in Greater Manchester, the West of England and Oxfordshire is set to help deliver thousands of much-needed new homes for local communities, Housing Secretary Sajid Javid announced 21 March 2018. Greater Manchester is set to receive £68…
Allen Walkey
Countrywide step up to support sport relief 2018
Countrywide press release published earlier this week headlined ‘Countrywide step up to support Sport Relief’, the release read as follows: On Friday 23rd March Countrywide’s Conveyancing Services Manchester office will be transformed into a call centre for Sport Relief 2018. Members of staff from the Manchester office and throughout the wider business across the UK…
Allen Walkey
NFB: You cannot diversify the housing market with demand-led initiatives
The National Federation of Builders (NFB) fully supports efforts to build more council homes because they contribute to diversifying the housing market. However, research by the Chartered Institute of Housing (CIH) revealed that 95p in every £1 of Government housing spend ends up financing housing benefit payments, rather than the building of new homes. According…
EAN Content
Bank of England’s buy to let changes make it harder to get a mortgage say landlords
Six months after the Bank of England’s (BoE) latest attempt to cool the buy to let market, almost two thirds of landlords (63 per cent) who are aware of the changes say it is now harder to get a mortgage. The changes, which come from BoE’s Prudential Regulatory Authority (PRA), were introduced in two stages…
EAN Content
CIELA admits failure to gain momentum and support – Closes March 31st
Having sat with Charlie when CIELA was an idea boiling away in his mind, We are sad to share the following: It is with great disappointment that I write to you to inform you that with effect from 31st March, CIELA will permanently cease to exist. CIELA’s plan was to raise industry standards, starting by…
EAN Content
The largest annual house price growth was recorded in Scotland for year to January 2018
UK House Price Index – January 2018 from HM Land Registry published 20th March 2018. The latest Index reveals: Average house prices in the UK have increased by 4.9% in the year to January 2018 (down from 5% in the year to December 2017). The largest annual price growth was recorded in Scotland, where prices…
Allen Walkey
Brexit: NFB welcomes agreement on transition period
David Davis, secretary of state for exiting the EU, and Michel Barnier, EU chief negotiator for Brexit, said that the two sides have agreed on a “large part” of the transition agreement that will structure the “orderly withdrawal” of the UK from the EU. The transition period will last from 29 March 2019 – the…
EAN Content
Mortgages now at their most affordable level in a decade according to Halifax
Mortgages in the UK have reached their most affordable level in a decade, according to new research from Halifax. The latest Halifax Affordability Review reveals that homeowners spend less than a third of disposable income on mortgage payments, the lowest affordability in 10 years since market peak of 48% in 2007. The significant improvement in…
Allen Walkey
The North West has the highest number of empty homes in the country according to NHF
A new report from the National Housing Federation published yesterday 19th March 2018 reveals that one fifth of empty homes in England, just under 40,000 homes, are in the North West. The North West has the highest number of empty homes in the country and has the same number of empty homes as the North…
Allen Walkey
Lambert Smith Hampton (LSH) to sell renowned Development Site at Dantzic Street, Manchester.
LSH has been instructed by the joint administrators to hold an online auction for the site with offers being invited of over £5million. The site is a substantial city centre development opportunity, located in the popular Northern Gateway of Manchester City Centre. The freehold property comprises two prominent and irregular shaped level sites totalling about…
EAN Content
Compulsory Client Money Protection “is imminent” as key provisions come into force
Today [19 March 2018], key provisions relating to Client Money Protection, as published by the government in February, come into force, allowing the secretary of state to pass regulations. Although the exact details of when and how the system will work are yet to be confirmed, Tim Frome, Associate Director at Hamilton Fraser, administrator for…
EAN Content
Prices hit record highs in first-time and second-stepper sectors
Average asking price of newly-marketed property jumps by 1.5% (+£4,503) this month as strong demand from home movers in the first two months of the year now feeds through to stronger upwards price pressure: First-time and second-stepper sectors hit all-time price highs of £189,840 and £272,031 Overall average prices also hit new record in…
Rightmove
Santander confirms a three year extension to its valuation and risk services partnership with Hometrack
In a latest news release from ZPG plc dated 15th March 2018 it reveals: Santander has confirmed a three year extension to its valuation and risk services partnership with Hometrack, covering collateral risk management solutions including AVM modelling and ongoing portfolio valuations. The latest licence agreement continues a fruitful 11 year relationship between the two…
Allen Walkey
Crackdown on those renting out overcrowded and dangerous homes
Measures to improve overcrowded and dangerous living conditions of private tenants in shared homes were laid before Parliament yesterday (15 March 2018) by Housing Minister Heather Wheeler. Councils are being given tough new powers to tackle the small minority of rogue landlords who rent out overcrowded properties and impose fines of up to £30,000 for…
Allen Walkey