Londoners face unprecedented rent increases in 2023 as mortgage rates for landlords skyrocket January 13, 2023 Tenants are struggling this January. Along with the rest of the nation, they’re dealing with a cost of living crisis, driven by rising energy prices, and adding to this pressure is the rising price of rent. Moreover, landlords face unprecedented increases in mortgage rates, forcing them to up the rent. Tenants in London have endured [...]
Inheritance tax: London property nets HMRC £820,000 in death duties on average, double other regions’ intake January 9, 2023 Property makes up half the wealth of estates in London paying inheritance tax (IHT) – around twice as much as most other regions, according to a retirement specialist. An HMRC Freedom of Information (FOI) request from retirement specialist Just Group revealed that in 2019-20, the latest financial year of available data, property accounted for 50 per cent [...]
Property boss urges Sunak to ditch tax breaks for eco-friendly home owners in 2023 January 4, 2023 Plans to offer stamp duty refunds to home owners who make their properties more eco-friendly are simply “a bad idea,” one of Britain’s largest property associations has told City A.M.. Banks last year urged the Government to incentivise changes by refunding stamp duty to buyers who pay for green upgrades within two years of making [...]
House prices: First-time buyers fell last year – and crash may not be as drastic as predicted January 3, 2023 A predicted fall in house prices may do little to change the prospects for first-time buyers in London The number of first-time buyers is estimated to have fallen by around nine per cent in 2022, according to analysis by a building society. Across the UK, the number of people taking their first step onto the [...]
‘Bank of mum and dad’ to return in fight against mortgage and rent double whammy December 27, 2022 The “bank of mum and dad” may be called upon for more help in the new year, as aspiring first-time buyers deal with a double whammy of higher mortgage rates and surging rental costs while they try to save. But for those buyers who are able to make the jump onto the property ladder next [...]
Home REIT: We’ve no idea where our rent comes from December 15, 2022 Beleaguered property investor Home REIT has admitted it has no idea how much rent it receives through government housing benefit payments despite saying its business model ultimately relies on them, City A.M. can reveal.
‘Profiteering’ Home REIT to be sued over misleading investor information December 7, 2022 Beleaguered property investor Home REIT has been hit by a lawsuit from investors today amid claims it is “profiteering from the housing crisis” and used misleading information to raise cash. The social housing-focused firm has been hammered by a slew of claims from short sellers in the past two weeks over the quality of charity [...]
Weekend Spotlight: £82bn in rental properties across UK are occupied by fraudsters and criminals December 3, 2022 Almost 280,000 UK rental properties, with a combined market value of £82bn, are thought to be occupied by fraudsters, City A.M. was told today. The rental market has long been a leading target for fraudsters, criminals, and money launderers. Research estimates that 5 per cent of all rental stock is being let to criminals and the [...]
Rental market boom may be on the horizon as homebuyers struggle November 26, 2022 As the property market continues to stutter, the nation’s rental market is set for a boom, as historic housing market trends show that a decline in property sales also leads to a boost to private rental market stock, a leading City fund manager told City A.M. this weekend. Sales and rental markets during the economic [...]
Hybrid jobs: 248 football pitches of office space has simply vanished November 26, 2022 New research out this morning shows that roughly 1.8m square metres of office floorspace was taken out of use in the UK in the past year. The move, equivalent to 248 football pitches, was largely due to changes in working patterns since the pandemic – with the shift to hybrid working, said law firm Boodle [...]