Finance
Bridging lending climbs to another record high
Short-term property finance is becoming more prevalent.
‘Council tax & stamp duty are unpopular, unfair & impractical’: Pressure builds for drastic property tax reform
A former advisor to Rishi Sunak - who also devised the Covid furlough scheme - has come up with 'a practical alternative to replace Stamp Duty & Council Tax'.
Home-buyers turn to short-term finance to save sales chains
Growth in bridging loans 'seems to be fuelled by the urgent need to prevent chain breaks in property transactions,' say lenders.
Property finance firm GB Bank appoints new CEO to lead expansion
The specialist bank, which is backed by Clivedale founder Sameer Gehlaut's Hera Holdings, aims to double its workforce this year.
Developer secures £6.3mn enfranchisement loan for Mayfair townhouse project
Funds secured from CapitalRise and Colliers will be used to acquire the freehold title of a mixed-use building on South Audley Street, with a view to creating a super-prime resi scheme.
Strutt & Parker owner set to buy AXA IM for €5.1bn
BNP Paribas Group is in exclusive talks to acquire AXA Investment Managers, in a deal that would create a European finance behemoth with €1,500bn of assets under management.
Industry Reactions: BoE cuts interest rate to 5%
Property industry insiders express relief at the first base rate reduction in more than four years.
Government confirms the end of non-dom status in April 2025
The Treasury has revealed measures to clamp down harder on international wealth as it aims for a tax regime that 'is both fair and as competitive as possible.'
Industry Reactions: Mortgage approvals held steady in June
The latest Bank of England data 'suggest that buyer and seller confidence remain consistent despite recent political changes,' says OnTheMarket chief Jason Tebb.
CapitalRise funds trio of prime resi development projects in record time
£20mn-worth of loans were agreed in nine days for schemes in Berkshire, Chelsea & Ealing.
High-end mortgage broker boosted by ‘resilient’ super-prime property markets
Enness Global reports finance applications reached £5.3bn in H1, as average property values topped £20mn.
CHAPS outage hits property deals
A 'global payments issue' delayed many high value and time-sensitive payments, including some house purchases, but has now been fixed.