Households could face significant increases in council tax under a plan understood to be under consideration by chancellor Jeremy Hunt and prime minister Rishi Sunak as they explore new options to fill near £60bn black hole in the government finances. Hunt’s autumn statement on 17 November is expected to set…
The “A Fairer Private Rented Sector” white paper outlines the government’s plans to outlaw section 21 and “replace section 21 ‘no fault’ eviction notices with a modern tenancy system”. This includes strengthening grounds for section 8. WHAT IS SECTION 21? Landlords can currently evict their tenants under section 21 of…
Jeremy Hunt, the new UK chancellor, has junked the bulk of his predecessor Kwasi Kwarteng’s tax cuts in an effort to calm markets. The chancellor is reversing almost all tax measures announced in the growth plan three weeks ago that have not started parliamentary legislation, he has just said in…
The number of mortgage defaults are expected to increase over the next few months, according to the latest Bank of England data, while the volume of new loans will continue to fall amid warnings that the “golden era” of cheap deals is coming to a halt. The UK central bank’s…
rom today customers buying a new build home can benefit from increased protections in the event of any issues they have with their new home or disputes with their developer. A new code of practice will put significantly more requirements on builders in terms of how they treat their customers…
Mortgage lenders approved significantly more mortgages than expected in August, the latest Bank of England data shows. Mortgage approvals rose to 74,340 last month, up from 63,740 in July and the highest reading since January. Anthony Codling, former City analyst and now chief executive of proptech firm Twindig, said: “Mortgage…
Chancellor Kwasi Kwarteng confirmed a ‘permanent’ stamp duty cut in the mini-Budget announcement on Friday. But the reality is that more changes are likely if the conservatives fail to win the next general election, scheduled to take place in 2024. New polling suggests that Labour is currently on course to…
Digging Japanese knotweed out of the ground is the most effective way to preserve a property’s value, new research carried out by YouGov for Environet UK shows. The study also found that homebuyers were less reassured if a knotweed infestation has been herbicide treated – meaning it could recur. Earlier…
Interest rates have gone up again for the seventh time in just a matter of months. Mortgage holders, house hunters and savers will be affected by the Bank of England’s decision to increase the rate from 1.75% to 2.25%. Homeowners on Standard Variable Rates or tracker mortgages will be hit…
Chancellor Kwasi Kwarteng has confirmed a permanent stamp duty cut in the mini-Budget announced this morning. The government is reforming stamp duty by doubling the level at which people begin paying this from £125,000 to £250,000. This government is also committed to helping first-time buyers get on the property ladder…
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The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall, albeit gradually, which will be welcome news for thousands of mortgage borrowers. Bailey said he was “very encouraged” by falling inflation and “therefore I do think the path for interest rates will be…
Barclays will today launch a range of new mortgage products, including a new lowest home loan rate on the market, just 24 hours after Nationwide released the first sub-3.75% deal. Barclays will today introduce a five-year fix at 3.71% for those buying their home with a 40% deposit. The deal…
A new property portal called NI Bricks has launched in Northern Ireland. To commemorate the launch, estate agents are being invited to join NI Bricks’ platform with the opportunity to list properties for free for up to three months. Founded in November last year and launched this week, NI Bricks…
