Breaking News
Landlords disadvantaged by tax relief cap.
The move to cap tax relief on buy-to-let mortgages by the former Chancellor of the Exchequer which starts next year could put private landlords at a disadvantage when calculating their tax returns. This situation is causing landlords to sell properties back to themselves in an effort to reduce tax liabilities on the property they rent…
Allen Walkey
Average asking price up 0.7% on month in September says Rightmove
Asking prices in London rose 1.9% from August, rebounding after four straight months of decline, Rightmove says. It added that the recovery this month was “exaggerated by seasonal volatility, with more owners of expensive properties coming to market after the end of the summer holidays.” The average asking price for a house in the UK…
Allen Walkey
Should government provide deposits for ‘generation rent’?
A report published last week by Localis an independent think-tank dedicated to issues related to politics, public service reform and localism headlined ‘Turning Generation Rent into Homeowners’. The report makes the case for government to provide mortgage deposits for Generation Rent, it recommends the introduction of a government-backed deposit guarantee scheme for first-time buyers. The report…
Allen Walkey
Hands-on landlords stay close to investment properties
Two thirds of landlords live within ten miles of their rented property Most manage the property and tenant relationships themselves Two-in-three landlords live within ten miles of their buy-to-let property and manage day-to-day maintenance of the property themselves, new research by Simple Landlords Insurance reveals. Analysis of over 10,000 addresses shows a fifth of…
Christopher Walkey
Second Success Story for the SAVA School of Surveying
Just two years since its launch in 2014, the SAVA School of Surveying has seen its second graduate achieve the SAVA Diploma in Residential Surveying and Valuation and join the Royal Institution of Chartered Surveyors (RICS). Tony Rogers from Guildford has become the school’s second residential surveying graduate, completing his qualification in less than 18…
Christopher Walkey
Aldermore introduces new limited edition BTL product
Aldermore Group PLC the specialist lender and savings bank announced this week the launch of its lowest ever Buy-to-Let (BTL) product at 2.99% aimed at Private Landlords, for loans up to £1 million. The product applies to private individuals looking to either purchase or remortgage a buy-to-let property, and includes: 2.99% 5-year fixed rate up to…
Allen Walkey
ZPG invests in innovative proptech start-up
Zoopla Property Group (ZPG) announced yesterday that it has invested in and agreed an exclusive long-term strategic partnership with Bricklane.com, the UK’s latest innovative proptech start-up. Bricklane.com is launching the UK’s first online Property ISA, aiming to help ‘Generation Rent’ get a toehold in the property market whilst saving up for a deposit on a…
Allen Walkey
Interest Rate unchanged at 0.25%
Bank of England Interest rate decision. Remains at unchanged 0.25% All 9 members of the Monetary Policy Committee voted in favour to keep interest rate on hold at 0.25% Bank of England Asset Purchase facility. Remains at £435B
Allen Walkey
Trading update from Purplebricks
Purplebricks PLC issues a trading update for the 19 week period to 14 September 2016 in advance of its AGM to be held at 10.00am today. Commenting on the update, Michael Bruce, Chief Executive, said: “We continue to win market share through a combination of our compelling customer proposition, increased brand awareness and the ongoing…
Allen Walkey
House purchase Lending for July down on June.
Press release published yesterday 14th September, from The Council of Mortgage Lenders (CML) headlined ‘July house purchase lending down 13% on June’. The report leads: Home-owners borrowed £10.6bn for house purchase, down 13% month-on-month and 12% year-on-year. They took out 58,100 loans, down 14% on June and 13% on July 2015. Paul Smee, director general of the…
Allen Walkey
Majority continue to pay asking prices in rental market
Countrywide PLC Monthly Lettings Index August 2016 released early this week headlined ‘Central London sees fall in proportion of homes let above asking price’. According to Countrywide Lettings Index for August it shows that less people are paying above asking price to secure rental homes in Central London. Just 8% of homes were let at…
Allen Walkey
House prices continue to rise post Brexit
UK House Price Index (HPI) for July 2016 released yesterday 13th September from The Land Registry. The July data shows an annual price increase of 8.3% which takes the average property value in the UK to £216,750. Monthly house prices rose by 0.4% since June 2016. The monthly index figure for the UK was 113.7….
Allen Walkey
“Radio silence” on Brexit is creating “vacuum of vulnerability”, says recruitment guru
The Managing Director of the UK’s oldest estate agent recruitment consultancy has called for the Government to give more information about what will happen to European Union employees after Brexit. His comments follow a recent survey by the British Chambers of Commerce (BCC), which found that two fifths of UK businesses employing staff from the…
Christopher Walkey
House prices continued to grow in August
According to the LSL Property Services/ Acadata England & Wales House Price Index August 2016, average house prices now stand at £292,921 meaning the average homeowner is sitting on £12,101 more equity than this time last year. House prices continued to grow in August but at a slower rate than in previous months. Transaction levels…
Allen Walkey
Voluntary Right to Buy scheme pilot launched
Housing association tenants are now becoming homeowners under the government’s extension of the right to buy scheme, a voluntary agreement between government and housing associations will give householders the opportunity to purchase their home under the new Voluntary Right to Buy scheme. The National Housing Federation has signed a deal with the government to offer…
Allen Walkey