Housebuilders completed 40,289 new homes in the second quarter of 2022 – a 16% year-on-year increase, according to the National House Building Council, NHBC, figures. Private sector completions saw a 23% year-on-year at 29,963 but affordable and rental sector completions stayed flat at 10,326. NHBC chief executive Steve Wood said: “Our latest figures demonstrate that output from […]
Commercial mortgage brokers are expecting a sharp increase in commercial property sales, with 42% expecting to see more SMEs look to acquire their premises rather than rent. Rising business costs, including rent and associated charges, are driving business owners to buy their properties and acquire a freehold asset, rather than navigate a fluctuating rental […]
Mortgage Magic has launched a Digital Package to enable brokers to revamp their business. The Digital Package, which has been designed by former brokers and leading technology experts, will empower brokers to revamp their business, with a new website, social media package and lead generation via social media. The package provides brokers with an off-the-shelf […]
Research by Warwick Estates reveals that the total value of new-build leasehold transactions is 50% higher than new-build freehold transactions as flats and urban living dominate England’s market. In the first six months of 2021, there were 1,523 new-build transactions in England. Of these, 44.8% (683) were freehold homes while 55.2% (840) were leaseholds, demonstrating […]
London Central Portfolio (LCP), London’s leading residential buying and investment agency, issues its Q2 2022 lettings report highlighting a highly competitive prime London rental market. Average length of tenancy Average length of tenancies reached a new high of 25.8 months in Q2 2022, steadily increasing since the onset of Covid-19. Tenants are extending their current […]
New research from Octane Capital, reveals that the number of active holiday lets has increased by as much as 33% in some of England’s most popular short break destinations, with the increasingly popular holiday let mortgage helping to drive this significant market growth. The short-term holiday rental market has been thriving ever since the rise […]
Specialist asset-based lender Ultimate Finance is today announcing they are freezing their bridging finance loan rates from 0.74% per month for the next two months in the face of continuing challenges for developers in the residential property market. The Bank of England base rate went up for the sixth time in a row last week, […]
Foundation Home Loans, the intermediary-only specialist lender, has announced the launch of a ‘Summer Special’ which sees a 40bps rate reduction on its previous five-year fixed rate Limited Edition buy-to-let product. Available as part of its F1 product range – for borrowers with an almost clean credit history – the ‘Summer Special’ five-year fix, offered […]
Property group Savills has today released a revised five-year forecast for the UK’s prime housing markets, reflecting strong levels of activity in prime central London and prime regional markets, but also a backdrop of international and domestic uncertainty. Central London’s recovery is underway, but caution remains While the shape of recovery remains broadly as previously […]
PM hopeful Rishi Sunak’s pledge to protect the green belt and focus on delivering new homes on brownfield sites has been described as lacking insight by construction industry. Mr Sunak has said he wants to help smaller developers by removing barriers hindering them from building new homes and has pledged to tackle land banking. The […]
