UK Buyers and Sellers Worry Over Post-Brexit Property Instability

The Referendum, which took place in the UK in 2016, has left the British property market unsure and confused. Over the past three years, we have seen a gradual increase in property prices, but the public has been left confused as discovered by a recent survey. Buyers and Sellers Are Equally Reluctant and Unsure of …

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Brexit: The Affect on the UK Market.

Brexit is the word on everyone’s lips at the moment. October 31stis drawing ever closer, the date having been set by the UK government as the date the UK is set to leave the European Union. However, how is Brexit affecting the UK market? The Asking and Selling Prices Are Changing In recent months, the …

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Britain’s Bargain- £1 House Up For Auction

House prices are so uncertain currently. Brexit is causing a stir all over the UK. No one knows where we stand now, or where we will stand when it comes to house inflation, prices or our mortgages. Yet, Britain hosts a bargain house, which is going up for auction on 22ndOctober for only £1. The …

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1.1 million interest-only mortgages appear to be ticking time bombs

A new report from BDRC Continental (www.bdrc-continental.com) released today, indicates that 1.1 million interest-only mortgages appear to be ticking time bombs, with holders either having no investment plan for capital repayment, or one that is not on track to clear their debt.

Number of landlords paying in cash for a property hits a record high

According to the latest data from the Countrywide’s monthly lettings index, the landlords in the North West UK were the most to pay in cash for properties. The percentage estimated was 61%, where the landlords selling their property entirely through cash.

Post Brexit Era: Future of property market in 2017

After Brexit, the UK is now outside the European Union and it is gradually decreasing economic benefits from EU. However, the property market has good news; the price automatically falls rather than rise.

Brexit- everything you want to know about Britain leaving EU

Recent research predicts that in 2016, the average property in Britain could reach the value of £300,000. In the past year, it was calculated that the value of many properties had increased by £18,000.

Urban Living

Research carried out by Knight Frank reveals an increase over the last 10 years in the proportion of people renting in urban areas, most of which concentrated in cities outside London.

Brexit and the speculated effect on the UK Financial Markets

In the aftermath of Brexit, the British Public who voted to leave the EU are still unclear. Bank shares have taken a significant hit with RBS down 15%, Barclays 10%, and Lloyds 8%, leading the London Stock Exchange to halt trading in those stocks.

Snap Elections May Let Property Enthusiasts Strolled Into Town

The British Prime Minister Theresa May recently startled the property buyers in the UK when she announced an early election to be held on June 8. “We need a general election and we need one now. We have at this moment a one-off chance to get this done … before the detailed talks begin,” said May, addressing from 10 Downing Street. “I have concluded that the only way to guarantee certainty and stability for the years ahead is to hold this election,” she added.

Why Foreign Investors Are Investing in Regional Property over London

On June 2016, the citizens of the UK and Northern Ireland voted to leave the European Union. Politicians and Economists from around the world termed this referendum as Brexit. The property experts from all over the world said that this referendum will prove catastrophic for Britain and could hit the property market badly.

Is Living on a Lane one of Life’s High Points?

Following Lane comes Way and Road, and then Close and Avenue. On average, most adults have moved house 7 times by the age of 40 “ which of these addresses have you lived on? I’ve been a resident of one Green, one Way, one Mews, one Terrace, a Street, and finally a Road, but the theory doesn’t seem to ring true for me.

Gap between renting & buying closes as house prices rise again

One year ago, renting in the UK was £993 per year on average more expensive than servicing a mortgage, but this gap has now come down by 3.2% to £961 today. As a result, the proportion of towns and cities across the UK where it is cheaper to buy than rent has fallen from 90% to 86% over the past twelve months

3.8m homes in England are privately rented -“ and the figure is rising

The private rented sector continues to be the fastest growing tenure in England accounting for 3.8m homes (17%) of all households. However, until now it has been difficult to place a financial value on the rental market as a whole and to compare actual rental rates received by landlords according to a region and property type.

New immigration law to affect 2m B2L property owners

If passed, the bill would also ensure illegal immigrants cannot get driving licences, and change the rules so private landlords have to check their tenants’ immigration status.

Tough new housing rules to control immigration

First set out by the Prime Minister in March, new legislation will stop rogue landlords cashing in from renting homes to illegal migrants; and new rules will ensure fair play in taxpayer-funded social housing.

Empty Property Rates Tax Hits £1.1bn

According to the taxpayers Alliance £1.1 billion was paid out for the period 2011-2012 in Business Rates for properties which were empty an increase of 19% on the previous year.

Profits on Buy-to-Let -“ Does it exist?

Approximately 1 in 5 UK households will be renting by 2016 which will require 1.1 million rental homes to become available. Given this, there is a need for new buy-to-let landlord to enter the UK housing market in order to meet this demand.

Valuations Activity Return to 2007 Levels

According to a housing market activity report by Connells Survey and Valuation, valuation activity has returned to levels which we have not seen since March 2007.

Leasehold Terms places 1.43 million homeowners at risk

Lenders are increasingly unwilling to grant a mortgage on properties with short leases and the value of homes starts to decline when a lease terms begins to near the 80 year mark.

True Cost of Rising Rents Exposed by Shelter Study

According to the study -“ out of every three renters -“ two are in rent arrears or are severely struggling to pay rent. The study also shows that around 25% of renters have faced an increase in rent over the year -“ meaning that one-third of those who rent had to limit their spending on Christmas gifts.

Nightmare of Negative Equity

The original value of many properties is decreasing “ making negative equity a very real problem for many property and home owners.

Impact of rising rents on family life revealed

26% of those surveyed said they had faced a rent rise in the last year, with families with children more likely to be facing difficulties.

Rents fall to £731 in February

Compared to January, the average rent in England and Wales fell by 0.1%, to £731 per month. However, due to a smaller monthly drop than a year ago, rents in February showed accelerated annual growth of 3.3%, compared to January when rents were 2.8% higher than a year before.

Mortgage approvals fall to lowest level in 7 months

e.surv’s latest Mortgage Monitor reveals house purchase lending surprisingly fell by 11% in February from 54,719 in January to 49,019, the lowest level since July 2012. The fall comes despite a wider and cheaper range of mortgages

New bedroom tax figures show local impact

” This perverse tax is doing exactly what the Government promised it wouldn’t ” hitting the most vulnerable people in our society. They are being penalised for a weak housing policy that for years has failed to build enough affordable homes and reduce the housing benefit bill.

Disabled people short changed over bedroom tax

The fund for Discretionary Housing Payments (1) (DHPs) has been given a £30m boost this year as the Prime Minister announced that the extra money would specifically ensure that the most vulnerable people are protected from the bedroom tax cuts

Rent bill rises £7.7bn since 2008

Analysis of the latest ONS English Housing Survey by Castle Trust shows that the number of private renters in England rose to 3.8 million in 2012, an increase of 23% from the 2008 figure of 3.1 million.

Road to recovery “rocky at best”, according to CIH

CIH has written to Chancellor George Osborne ahead of next month’s Budget urging him to adopt a four-point plan to deliver 100,000

Negative interest rates will ‘increase the pressure to lend’, says Ray Boulger

Negative interest rates will increase the pressure to lend and the mortgage market would be a major beneficiary of any such action.

Repossessions to reach 33,000 in 2013

Analysis has been undertaken on data containing over one million mortgage accounts and HML found that Northern Ireland will have the highest repossession rate at 1.29%, with 4,073 properties set to be repossessed.

Jack Dromey responds to new Government housing figures

David Cameron’s failed housing policies are making the biggest housing crisis in a generation worse, not better. Nearly 18 months on from David Cameron’s promise to ‘get Britain building

300,000 homeowners fear they’ll have to sell their home

The Financial Services Authority is introducing stricter regulations on interest-only mortgages from April 2014. Already the market has responded and tightened the criteria for interest-only mortgages, while many lenders have simply stopped offering them.

Housing crisis need not be a homelessness disaster

The UK could do much more to address the problem if many more people were enabled to design and build their own homes. They would not only achieve the best quality, most innovative, most sustainable and most affordable houses.

Cleaning is a growing problem for landlords and agents

This is followed by damage to the property (45 per cent), redecoration (28 per cent) rent arrears (18 per cent), and gardening (12 per cent).

Asking price reductions at lowest level in 2.5 years

The proportion of properties currently on the market with a reduced asking price now stands at 31.5% “ down from 36.7% a year ago “ suggesting fewer sellers are feeling pressured to slash their asking price in order to achieve a sale.

London rents 132% more expensive than North East

Tenants in Greater London are paying rents, which are an average of 132% more expensive than those living in the North East, according to research.

47% consider secured loans a remortgage alternative for interest-only clients

In a recent poll results showed that 47% of intermediaries have considered recommending a secured loan to their client as an alternative to remortgaging, in order to protect their interest-only mortgage status.

Repossessions at lowest level since 2007

On an annual basis, repossessions fell from 37,300 in 2011 to 33,900 in 2012 – the lowest annual figure since 2007. This brings the rate of repossession down from 0.33% in 2011 to 0.30% last year. The stock of properties in possession held by lenders at the end of 2012 was also at its lowest for over five years

Residential development land values broadly flat in 2012

Values in prime central London edged up by 2.5% through the year, after a 20% rise in 2011. Grinne Gilmore examines the data:

Good broadband a factor for nearly a third when choosing a home

20% say they’d pay more for good broadband, with two thirds of those prepared to pay up to 3% more for the same home if it had a good broadband signal

Number of homeowners drops to lowest levels in 25 years

While homeowners do remain in the majority, at 65.3%, this is the lowest proportion of households since 1987. David Newnes, director of LSL Property Services, said:

Rising rents leave a generation caught in the Rent Trap

With average wages remaining static, many people are left unable to save for a deposit “ and are trapped in a cycle of unstable renting.

Landlords call for common rent level survey

One of the country’s leading landlords organisations is today calling on the industry and the Government to establish a common survey of the level of rents following an investigation showing a chasm between different rent surveys

23% of Britons have never reviewed their mortgage

As expected, home insurance is the most frequently reviewed product with 73 percent of people evaluating their policy for competitiveness at least once a year

Pimp Or Potential Tenant – It’s All In The Detail

Getting the right tenant is essential and a responsibility that is surprisingly relaxed and often put to the bottom of the pile in property companies who see it as an unnecessary expense.

UK house prices rise by 0.5% in January

UK house prices increased by 0.5% in January, though prices were unchanged compared with January 2012. While activity in the housing market remains muted by historic standards, there have been tentative signs of a pick up in activity in recent months.

Britain Must Build Its Way Out Of Recession

While the UK economy as a whole shrank by 0.3 percent, there was a small increase in construction output. This follows a fall of 2.5 percent between Q2 and Q3 of 2012, which as a whole was a bleak one for construction.

Remortgage levels down 13.0% in December

The slowdown in November and December has reversed gains made in the preceding two months of the year (September up 9.5%, October up 23.1%).

5 Year fixed mortgage rates hit lowest point since summer 2007

The average five-year fixed rate for mortgage borrowers in December 2012 was better than at any point since before the recession, according to the latest National Mortgage Index from the UK’s leading independent mortgage broker, Mortgage Advice Bureau (MAB).

Annual housing affordability at 3 year low in 2012

Increased lending during 2012 was not enough to improve housing affordability, as an annual review of the National Mortgage Index from the UK’s leading independent mortgage broker, Mortgage Advice Bureau (MAB), shows income growth among homebuyers was eclipsed by rising deposits and mortgages