Residential Property Review – August 2021

Transition to eco homes hotting up With climate issues becoming ever more urgent, policymakers and the housing industry are increasingly turning their attention to sustainable property development. Making homes greener will play an important part in the UK’s efforts to achieve net-zero emissions by 2050: new and existing homes together account for 20% of the … Continue reading “Residential Property Review – August 2021”

Residential Property Review – July 2021

Building Safety Bill published Claiming “the biggest changes to building safety in nearly 40 years“, Housing Secretary, Robert Jenrick, said that the Building Safety Bill will set out a clear pathway for the future as to how residential buildings should be constructed and maintained. The Bill was published on 5 July to set out new … Continue reading “Residential Property Review – July 2021”

Residential Property Review – June 2021

Renting less expensive than buying a property Research from estate agency Hamptons, suggests that renters are better off than buyers for the first time in five years. The study found that, just prior to the pandemic in March 2020, the average buyer with a 10% deposit was better off than renters by £102 per month. … Continue reading “Residential Property Review – June 2021”

What is the First Homes scheme and how does it work?

The First Homes scheme is a new policy that will provide discounted homes to first-time buyers in England who otherwise wouldn’t be able to afford one. More specifically, under this scheme, first-time buyers will be able to purchase a new-build home in their community at a discount of 30% on the market price. For an … Continue reading “What is the First Homes scheme and how does it work?”

Seven deadly mortgage sins to avoid

Many people were expecting that house prices would fall during the pandemic, or at least stagnate. Indeed, a lot of first-time buyers were wistfully hoping that it might happen. But the government didn’t want a property crash on top of everything else, so introduced the stamp duty holiday to buoy up the market and protected … Continue reading “Seven deadly mortgage sins to avoid”

Taking on the challenge of a self employed mortgage

Self-employed people still face an uphill struggle in mortgage applications, but help is at hand. Though some lenders have tightened their criteria, others are working with mortgage brokers to encourage buyers with complex incomes. If you run your own business, work as a contractor or earn through freelancing, then you’re disproportionately more like to have … Continue reading “Taking on the challenge of a self employed mortgage”

Residential Property Review – March 2021

Stamp Duty holiday extension In his Budget on 3 March, Chancellor Rishi Sunak confirmed an extension to the Stamp Duty holiday in England and Northern Ireland. Rather than ending on 31 March, as originally announced, the nil-rate threshold for Stamp Duty will remain at £500,000 until 30 June. The extension means that buyers will save … Continue reading “Residential Property Review – March 2021”

Residential Property Review – February 2021

House price growth slows Several recent reports have confirmed that house price growth is slowing, but there are reasons to believe that the housing market will be more stable than last year. According to Knight Frank, the third lockdown and the imminent end of the Stamp Duty holiday have played a major part in delaying … Continue reading “Residential Property Review – February 2021”

Residential Property Review – December 2020

Positive start for property market in 2021 The property market is expected to start 2021 with a bang, according to experts. Low interest rates, combined with the imminent expiry of both the existing Help to Buy scheme and the Stamp Duty holiday, mean that the market is expected to be busier than ever going into … Continue reading “Residential Property Review – December 2020”

UK catches the property auction bug

Are Brits abandoning the estate agent for the auction house? This year nearly 40% more property by value has been sold at auction, compared to 2019. Leading provider Auction House has enjoyed a record October performance, having shifted £65m worth of property in that one month alone, while John Pye Property saw transactions more than … Continue reading “UK catches the property auction bug”