CLC launches survey on upfront information
The CLC is part of the Digital Property Market Steering Group of property industry bodies that are working together with HM Land Registry. The aim is to build on existing progress across the home buying and selling system to find ways to implement further improvements. You might have heard of the idea of “upfront information”. […]
Bank of England raises rates again despite ‘ticking timebomb’ mortgage warning
The Monetary Policy Committee of the Bank of England has voted 7-2 to raise interest rates by a further 0.5 percentage points from 4.5% to 5% in an effort to combat ongoing inflation, which stands at 8.7% according to the ONS. This 13th successive increase in the base rate will see borrowing costs once again […]
SRA proposed budget increase could impact firms – Law Society
The Solicitors Regulation Authority’s (SRA) 2023-2024 business plan and budget consultation proposes a 12% budget increase, which could impact firms who are already facing inflationary pressures, the Law Society of England and Wales said this week. In response to the consultation, launched in May, the Law Society welcomes a continued focus on: Equality, diversity and […]
PEXA picks Leeds for new UK HQ
PEXA has announced it has chosen 114 Wellington Street in West Village, Leeds, for its new UK headquarters. PEXA will collaborate with the West Yorkshire Combined Authority as it sets up its new headquarters and prepares to invest in the region and its workforce. West Village – developed by Bruntwood as part of the £200m […]
Average two-year fixed mortgage rates rise above 6% – report
Average two-year fixed mortgage rates have risen above 6%, according to Moneyfacts as the average five-year fixed rate mortgage has increased to 5.67%. The Resolution Foundation has predicted that the average two-year fixed rate deal will hit 6.25% later this year, leaving homeowners looking to remortgage paying an average of £2,900 more from 2024, with […]
Six in ten IFAs concerned 100% mortgages could create a repayment crisis
With the recent return of the 100% mortgage, new research has revealed that nearly two thirds of IFAs (66%) who receive mortgage requests are concerned about the risks associated with 100% mortgages. The research from global research and insights agency Opinium revealed that over three fifths of IFAs (63%) worry about 100% mortgages because of […]
