Finance
BoE records four-fold increase in mortgage approvals
...but June's total of 40,000 was still 46% below February’s pre-Covid level of 73,700.
Think tank calls for a Property Capital Gains Tax to ‘pay for the coronavirus’
Michael Johnson and the Social Market Foundation are calling for "tens of billions of pounds of new taxes to be levied on increases in the value of homes", with a new Property Capital Gains Tax replacing…
Fairway’s resi fund snaps up £70m-worth of PCL property from Grosvenor, as blue chip investors look for a safe haven
"In macro-economic terms, Covid is just about as bad as it gets," says Leconfield and Fairway Capital founder George Brooksbank.
Details of next year’s non-resident SDLT surcharge published
The 2% foreign buyer levy "may help to control house price inflation, by leading to a reduction in residential property purchases by non-UK residents," suggests HM Treasury.
Blick Rothenberg names new CEO
Tax firm Blick Rothenberg has appointed one of the youngest financial services CEOs in the country.
Government orders review of Capital Gains Tax
This CGT review could be "the starting pistol for a tax grab ahead of the Autumn budget later this year", suggest analysts.
Chancellor confirms Stamp Duty holiday will start today, as threshold raised to £500k
From today until 31st March 2021, buyers will pay no Stamp Duty on the first £500k when they move home.
What do the next 12 months hold for high-end borrowers?
James Chisnall predicts a shift away from traditional high street lenders to smaller, private banks who are more willing to consider 'higher-risk' opportunities...
Treasury floats SDLT holiday as part of Coronavirus recovery measures
Rumours are circulating of a Stamp Duty holiday up to £500k.
Tax advisor fined over Stamp Duty avoidance advice
Cornerstone's David Hannah has been ordered to pay a total of £60,000 for "failing to properly assess and communicate" the risks of a Stamp Duty avoidance scheme in 2007.
Mortgage approvals sank to a record low mid-lockdown, unsurprisingly
With surveyors unable to visit properties, a mere 9,300 approvals for house purchase were recorded by the BoE in May, 90% below pre-pandemic levels
Lenders cut bonuses from mortgage sums
Many mortgage providers are refusing to take variable bonus and commission payments into account when doing affordability calculations, or are ratcheting down the proportion they will lend against variable…