UK house prices set to drop as sales plummet during pandemic April 6, 2020 UK house prices are set to fall three per cent this year as market activity grinds to a halt during the coronavirus crisis, forecasts published today revealed. House sales are expected to plunge 38 per cent year on year to 734,000 transactions assuming the current lockdown remains in place until the end of May, according [...]
Rent payments must be maintained where possible, say landlords April 6, 2020 Tenants must continue to pay their rent where possible, landlords have said, citing concerns about a lack of clarity over rent holidays. The National Residential Landlords Association (NRLA) today said an increasing number of tenants believed they no longer had to pay rent due to the pandemic. But the trade body insisted residential rent should [...]
Intu warns tenants over unpaid rent amid coronavirus pandemic April 2, 2020 Embattled retail landlord Intu has threatened to issue statutory demands to tenants that have refused to pay rent during the coronavirus crisis. The shopping centre owner, which revealed last week that it had collected just 29 per cent of the quarterly rent due, said it had “neither the desire or financial capacity” to waive rents [...]
Coronavirus: Landsec scraps dividend as rent payments fall April 2, 2020 Retail and office space landlord Landsec suffered a drop in rent payments last month due to the outbreak of coronavirus. Landsec, which this morning scrapped its interim dividend, said 65 per cent of the rent due on 25 March had been paid by the end of the month, compared to 96 per cent the previous [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Nationwide further tightens criteria for new mortgages as coronavirus crisis bites April 1, 2020 Building society Nationwide has further tightened its lending criteria, excluding bonus, overtime and commission as income it recognises for new mortgage applications. The move follows its decision yesterday to withdraw its offering for low deposit borrowers. Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value (LTV) from its online and broker channels and restricted them [...]
Taylor Wimpey adds executive pay cuts to coronavirus defence measures April 1, 2020 Housebuilder Taylor Wimpey is ramping up its coronavirus defences by cancelling a planned pay rise and bonus payments for executive management. A two per cent annual salary increase due to come into effect on 1 April 2020 has been cancelled, while bonuses for executives have been cancelled this year. The executive directors have taken a [...]
Nationwide pulls sales of mortgages for small deposit holders March 31, 2020 Nationwide is temporarily pulling its mortgage offering for low-deposit borrowers including first-time buyers as Britain’s biggest building society grapples with the impact of coronavirus on the housing market. Nationwide said that from Tuesday it would withdraw all fixed-rate and tracker mortgages above 75% loan-to-value (LTV) from sale for remortgage, first-time buyers, and new house purchases. [...]
Coronavirus: Retail landlord Hammerson suffers drop in rent payments March 30, 2020 Retail landlord Hammerson received 37 per cent of the rent it was owed in the second quarter as its tenants suffered a drop in sales and forced closures due to the coronavirus pandemic. The shopping centre owner this morning said adjusted for rent deferred, switched to monthly payment and waived, it had received 57 per [...]
One in five residential property sales could be affected by new tax laws this April March 30, 2020 | Sponsored From 6 April 2020, a major change to tax payment dates will come into force. It will apply to landlords, second home owners, divorcing couples – indeed any UK resident who sells or gifts a residential property situated in the UK, on which a capital gains tax (CGT) bill arises. At present, individuals who dispose [...]