Finance
Truss set to cut Stamp Duty to ‘encourage economic growth’
The Prime Minister and Chancellor will announce a reduction in property transaction taxes on Friday, suggests The Times.
Chancellor Kwarteng to deliver ‘emergency mini-budget’ on 23rd September
The new Prime Minister has promised to cut taxes.
BoE delays interest rate decision
"In light of the period of national mourning now being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of one week."
UK Finance: ‘House purchase activity looks to have returned to pre-pandemic norms – for now’
"It is too early to predict when escalating cost-of-living pressures will begin to bear down on effective demand," says UK Finance.
Bridging lending rises as deals take longer
The total value of bridging loan lending in the UK has jumped 22% in the past year, according to analysis by mortgage broker Henry Dannell, with the purchase of an investment property being the most common…
King’s Cross secures £1bn refi deal
Vast regen project is entering the final stages of development.
Mortgage lending dips but approvals rise
The property market is "rife with nerves", says Knight Frank Finance after looking at the latest BoE mortgage numbers.
A fifth of property sellers miss new CGT payment deadline
A Freedom of Information Request by the Financial Times has revealed a big problem with the new Capital Gains Tax timeframe...
More home-buyers are turning to short-term lending to beat competition
Bridging lending activity has risen sharply, as investors and home-buyers turn to short-term lending solutions to secure a property in a competitive market.
Bank of England bumps interest rates up 0.5% to 1.75%; warns of a recession by the end of the year
Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
Mortgage approvals drop as higher interest rates start to bite
The number of home-buyer mortgage approvals has fallen below the pre-pandemic average, according to the Bank of England. “Higher interest rates are starting to bite," says Savills.
Six ways to improve housing taxation around the world
“There is significant scope for countries to improve the design and functioning of housing taxes,” declares the OECD, as it advises high-income economies including the UK to cut residential transaction…