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Over the last eighteen months, in response to the pandemic, in-room property auctions switched to being held online. As we reported in our post, Online property auctions continue to thrive in lockdown climate, livestream auctions achieved new highs. Now we’re witnessing the return of the in-room auction; however, not in the numbers seen in previous […]

The government has backed a 95% mortgage initiative to help buyers secure a mortgage with a 5% deposit. The scheme is available to all home buyers, not just first-time buyers, and applies to properties up to the value of £600,000. Chancellor of the Exchequer, Rishi Sunak, commented: “By giving lenders the option of a government

Once negotiations are over, and your offer has been accepted, it can be tempting to sit back and let the legal process take its course. However, if you fail to keep your property deal on track, you run the risk of things going wrong at the last minute. SET A TIMEFRAME If you’ve got a

This week’s budget introduced a few new initiatives as well as extending the deadline on others – with the primary aim of boosting the economy as we ease our way out of lockdown. STAMP DUTY HOLIDAY EXTENDED The current stamp duty holiday, which was due to finish at the end of March, has been extended

In response to calls for more clarity around property surveys, the Royal Institution of Chartered Surveyors (RICS) has introduced a new home survey standard. From March 2021, the new RICS home survey standard will become mandatory for all RICS professionals undertaking home surveys. The organisation hopes that this will bring greater consistency and transparency when

That is the question on a lot of peoples minds at the moment. We may have to wait until the next budget in Match this year to find out.The holiday has been well received but between now and March mortgage companies and solicitors are backlogged and over worked trying to get all of these transactions

HUGE PIPELINE INVESTMENT IN BUILD-TO-RENT At the beginning of this year, the build-to-rent sector was flying high with over £1 billion of investment in Q1. Then lockdown put a stop to activity, and as a result, there were only two transactions in Q2 totalling £83 million. Despite this, build-to-rent plans have still managed to progress,

LIVE STREAM AUCTIONS ACHIEVE NEW HIGHS In September 2020, property auction house, Bond Wolfe Auctions, reported outstanding results for its live-streamed auction. The online auction achieved a 95% success rate with 196 of the 207 lots offered being sold. It was the auction house’s second most successful sale, raising £18,779,150. Auction House London also achieved

COMPANY LETS AT HIGHEST LEVEL SINCE 2011 According to research from Hamptons International, companies now let more than one in ten properties. This is at its highest level since 2011 and shows a rise of 9% since 2015. Company landlords currently own 641,480 buy-to-let homes in the UK, which is a 42% increase on four

HOW DO THE VOUCHERS WORK? The vouchers will cover two-thirds of the cost of eligible improvements, up to a maximum government contribution of £5,000. For an energy-efficient improvement costing £5,000, you would pay £1,667, and the voucher covers the remaining £3,333. Landlords can apply for vouchers to improve each property in their portfolio. Vouchers are