Breaking News
Tough times for the over 50’s in the property market.
In a recent Homewise Blog they highlight that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages and facing the prospect of clearing their debt when the deal runs out, this according to new research carried out by the retirement property experts Homewise. Its independent research among over-55s paying…
Allen Walkey
ZPG SET TO LAUNCH SMART VIEWINGS IN PARTNERSHIP WITH VIEWEET
ZPG has partnered with prop-tech company Vieweet and is set to launch the world’s first remote-viewing platform called Smart Viewing on its Zoopla site, enabling house hunters to view property remotely from the comfort of their very own home. The innovative solution solves the age-old problem of property consumers not having enough time to view as many properties as they wish. Instead…
Christopher Walkey
Aston Mead calls for calm following #Brexit vote
One of the UK’s leading land brokers has called for calm in the property sector, following Britain’s referendum vote to leave the European Union. Adam Hesse, Director at Aston Mead Land & Planning says that despite the Remain camp’s previous warnings of disaster, remarkably little has changed in the first 12 days since the vote….
Christopher Walkey
Financial stability report from Mark Carney Governor (BoE)
The Bank of England Governor speaks on the financial stability report this morning, potentially laying out plans to deal with any issues that may arise as a result of the Brexit vote on 23 June. Financial stability report July 2016. Governor’s opening remarks. Today, I want to outline how the Financial Policy Committee (FPC) is…
Allen Walkey
Markit/CIPS UK Construction (PMI) June
News release yesterday Markit/CIPS UK Construction Purchase Managers Index (PMI) headlined: UK Construction PMI signals weakest performance for seven years in June. Data collected 13-29 June Key points: Construction output falls at fastest pace since June 2009. Sharp reversal in residential and commercial activity. Incoming new work declines at steepest pace since December 2012. To…
Allen Walkey
Landmark ruling over negligent valuation report.
The Court of Appeal has recently overturned a decision of an earlier hearing in the Chancery Division, in which the Court ruled that the loss to Tiuta International Limited should be limited to the amount lost in ‘topping up’ the original loan (c£272,700). The Court found in favour of an appeal from Tiuta International, a…
Allen Walkey
So, Farage has helped the majority of voters to leave the EU & now Exits UKIP:
Breaking news today and currently flooding timelines of social media is Mr Nigel Farage and that he has announced he quits as leader of the UKIP party. It has been one of the most incredible few weeks in politics both home and abroad in regards to the UK, not only has a prime minister stepped down…
Christopher Walkey
Request to abandon Land Registry Privatisation.
A report out late last week by The Guardian stated that over 60 MP’s have signed a letter to the Government asking them to call off their controversial plans to privatise the Land Registry. The letter written by Labour MP, David Lammy, is supported by cross party MP’s, The Guardian reported that the letter warns…
Allen Walkey
Wales leads the way.
I suspect many of you who saw the Welsh flag at the head of this Breaking News item would have thought you were going to get another report on what can only be described as one of the greatest games of football in British fooballing history last week, Wales against Belgium, well you are not,…
Allen Walkey
Overseas property after Brexit
Brexit appears to be a nailed on certainty from here on, even though article 50 needs to be invoked by the government in power and from what we are hearing from the media this will not happen until we have a new Prime Minister in place, even then there will be negotiations that will take…
Allen Walkey
Property Personnel advises estate agents to “hold their nerve” post- Brexit
The Managing Director of the UK’s oldest estate agent recruitment consultancy has advised employers to “hold their nerve” following the ‘leave’ result in the EU referendum. His comments come after a snap survey of recruitment intentions carried out by the Chartered Institute of Personnel and Development (CIPD) which suggested that almost half of members…
Christopher Walkey
Boris withdraws from Leadership Race
The big surprise yesterday was that the staunch favourite Boris Johnson withdrew from the Conservative Leadership race and that his partner in the Leave campaign Michael Gove entered it. Yesterday (Thursday) marked the deadline for politicians to enter their bids for the leadership race. The 1922 committee announced the five official candidates. They are: Theresa…
Allen Walkey
Pound drops further following speech.
Mark Carney in his Bank of England (BoE) speech yesterday said that following the Brexit vote there probably would be need for ‘some monetary policy easing”, this had an immediate effect on the pound sterling which fell again against major currencies. Carney in his speech to business leaders reportedly said “In my view, and I…
Allen Walkey
Mortgage approvals down on the average in May
The Money and Credit statistical release for May 2016 released yesterday by the Bank of England (BoE) stated the following re Mortage Approvals: The number of loan approvals for house purchase was 67,042 in May, compared to the average of 70,598 over the previous six months. The number of approvals for remortgaging was 42,919, compared…
Allen Walkey
Savills announces aquisition of Chainbow Ltd
International real estate advisor Savills announced yesterday 29th June the acquisition of specialist residential management business Chainbow Ltd. Established in 1989 by Chairman and Chief Executive Roger Southam, Chainbow employs 28 members of staff, all of whom will join Savills with immediate effect, including managing director, Nigel Bosworth, and associate directors Gail Lawrence and Niccie…
Allen Walkey