Mortgage lending slumps as interest rates rise
The latest Bank of England data shows a sharp drop in mortgage lending and mortgage approvals in the aftermath of the short-lived mini-Budget.
The property market is "rife with nerves", says Knight Frank Finance after looking at the latest BoE mortgage numbers.
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.
Net borrowing of mortgage debt by individuals increased to £7.4bn in May from £4.2bn in April, according to the Bank of England's Money & Credit data. This is above the pre-pandemic average of £4.3bn
Owner of Sotheby's Dubai and the Middle East region confirms acquisition of UK business
One prime estate agency has listed properties for sale in more than half of the nation's postcodes in the last six months, significantly out-covering any other brick-and-mortar firm.
Poppy Chenevix-Trench has moved on from the Savills Private Office, becoming the latest high-level addition to Sandy Mitchell's Redbook Agency.
Charles Medina has moved from Savills to become a Director at Strutt & Parker in Mayfair and Marylebone.
Strutt & Parker's London new homes sales chief reflects on the big themes to emerge in the prime development sector lately, and the projects currently setting the tone in the luxury market...
By Keir Waddell
Super-prime developer expands into education, securing planning for a new school for Thomas’s Kensington, along with new apartments & townhouses
Another major acquisition creates London's biggest estate agency network.
The agency is looking to grow its regional resi development business by 50% over the next five years
Hamptons has noticed a significant increase in the proportion of mortgage-free home-buyers so far this year, while Jackson-Stops has identified where cash buyers are making the biggest savings.
A.London completes 4,664 sq ft penthouse project at latest Berkeley scheme in W2
As the number of legal cases involving Japanese knotweed continue to rise, Rachel Redwood explains how a vendor in SW London has ended up facing a bill of £200k, and what buyers and sellers need to kn…
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New rules are 'already having a major impact on UK real estate transactions and any overseas entities that own affected UK real estate and have not yet registered their beneficial owners at Companies …