Banks limit lending on high-end homes

Net mortgage borrowing reached an all-time high of £17.9 billion in June, according to the Bank of England - smashing the previous record, set in March 2021, of £11.5bn.

The EU's Fifth Money Laundering Directive is slated to come into play in January, requiring UK letting agents dealing in rents above €10k per month to carry out AML checks on their clients.

The Bank of England reports that net mortgage borrowing fell from a record £11.5 billion in March to £3.3 billion in April.