News
First-time buyers get funding boost from major bank
Lloyds Banking Group has announced an injection of £2bn to help prospective homeowners secure mortgage funding. An improved loan-to-income multiple will allow eligible first-time buyers to borrow up to 5.5 times their annual household income.Eligibility ... more
What letting agents need to know about deposit alternative tenancies
Deposit-alternative tenancies offer letting agents a way to reduce tenants' upfront costs while still protecting landlords against rent arrears and property damage.In the UK, the typical deposit is equivalent to five weeks' rent. As of July 2024, with the ... more
Housebuilder says UK consumer confidence has returned amid cheaper mortgage rates
The housebuilder Bellway said consumer confidence in the UK had returned, with cheaper mortgage rates fuelling demand from buyers, as it exceeded its housebuilding targets for the past year.The company completed 7,654 homes in the year to 31 July, down ... more
UK property market buoyed by interest rate cut
Home-buying activity in the UK is expected to surge this autumn, according to analysts, after the Bank of England’s first base rate cut since 2020 injected optimism into the property market. The central bank on Thursday reduced interest rates by ... more
Tax is changing for holiday lets
HMRC is changing the rules for furnished holiday lets (FHLs) and will abolish specific tax treatment and separate reporting requirements, bringing them into line with other property businesses.What will be different?Currently, properties classed as FHLs ... more