News
London council U-turns over 'onerous conditions' for new licensing scheme
Lambeth Council has ignored landlord protests to launch its new selective licencing scheme but backtracked on many onerous conditions.Landlords now need a licence to legally let any property to a single-family household or no more than two unrelated sharers ... 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
Property Tax Loophole costing councils millions, claims consultancy
A property firm has branded the current council tax rules for holiday homes “a mess” and says local and national government are losing millions of pounds of potential income as a result.Colliers estimate the total loss to government due to the system ... more