Industry body names new mortgage chief
RBS’ Lloyd Cochrane is to be the new chair of UK Finance’s Mortgages Product & Service Board, replacing Richard Rowntree
Mortgage mis-selling ‘could be the next PPI’
Legal cases are being brought against mortgage brokers who allegedly “mis-sold” interest-only products; potential compensation payouts could run to “billions”…
Mega-mortgages hit five-year high
185 residential mortgages for £5m or more were dished out in the last 12 months across the UK, with a combined value of £1.8bn
UK Sotheby’s Realty to ‘explore tokenisation’ of two luxury properties
UK Sotheby’s International Realty has partnered with PropTech platform Smartlands to look into blockchain-powered fractional ownership options for a London penthouse and a Greek villa.
Meyer Bergman’s VC arm backs CapitalRise
Luxury property crowdfunding platform CapitalRise has secured a £1m equity investment from Meyer Bergman’s Revolt Ventures
HSBC reveals plans to double its UK mortgage business
Lender’s expansion plan could trigger a mortgage price war
Election 2019: What a Labour government might do to property & wealth taxes
There’s no 2019 election manifesto yet, but Mishcon de Reya has summarised everything that Jeremy Corbyn’s Labour Party has proposed about property and wealth-related taxation over the last few years into a handy crib sheet. Some punchy measures have been mooted – including replacing Stamp Duty with an annual levy based on property values… “For those buying a residential property to live in themselves, consider waiting until after the Election,” advises the law firm.
Bridging finance veteran returns to Century Capital
John Wheeler has rejoined Paul Munford’s property lending firm to “lead an ambitious new growth phase”
Returning Stamp Duty to 2005 levels would galvanise the property market, suggests influential think tank
“Stamp duty has distorted the market to such an extent that the costs of cutting it are far lower than generally realised,” suggests the Centre for Policy Studies, led by David Cameron’s former housing advisor Alex Morton.
Change in government is biggest worry for UK’s wealthy
A new PM, tax changes and failing health are the top three concerns facing HNW residents right now, according to a new survey
£1m+ deals have soared 12-fold in 20 years, as the average house price has almost tripled
Today’s prime property market is “much bigger and more complex” than in 1999, says mortgage firm Private Finance as it charts the rise of seven-figure transactions over the past two decades
Octopus Real Estate creates new ‘Head of Residential’ role
D’mitri Zaprzala has been promoted to run the resi show at specialist property lender Octopus