Bank of England mortgage returns ‘paint a picture of increased buyer confidence’
The Q2 statistics from the Bank of England Mortgage Lenders and Administrators Return (MLAR) show an increase of 0.3% in the outstanding value of all residential mortgage loans compared to the previous quarter. The total of £1,703.6 billion is 2.6% higher than the same period last year. The value of gross mortgage advances decreased by […]
PEXA completes £200m in remortgage transactions in UK milestone
Digital property exchange platform PEXA has processed over £200 million in UK remortgage transactions, just seven months after reaching the £100 million milestone and four times as fast. The increase demonstrates the appetite for technological innovation, the company said, and showcases the value of a platform that delivers secure and efficient transactions. ‘In January this […]
Low deposit mortgage choices at 17-year high
The latest UK Mortgage Trends Treasury Report from Moneyfacts reveals the combined choice of higher loan-to-value mortgages (90% and 95% LTV) is at its highest count in 17 years. Combined, the deals represent 19% of the residential mortgage market overall, with the total choice at an 18-year high. The combination in availability of deals at both […]
A quarter of homebuyers prepared to move over 10 miles for the right property
Analysis from Zoopla reveals how far homebuyers are prepared to cast the net when searching for a property. The average search radius is now 3.4 miles, down from 4.3 miles in 2021 – but 26% of buyers are prepared to move beyond a 10 mile radius. Buyers in the South East and East of England […]
RICS to require surveyors to declare use of AI to clients
The Royal Institution of Chartered Surveyors (RICS) has published the first global professional standard for the responsible use of artificial intelligence (AI) in surveying practice, in what the organisation describes as a ‘decisive move to guide the profession through the rapid evolution of AI technologies’. As part of the adoption of AI in surveying, firms […]
Ofqual-accredited level 5 diploma launched for paralegals
A new Ofqual-accredited paralegal qualification has been launched by The National Association of Licensed Paralegals (NALP). The Diploma for Senior Associate Paralegals is the first Ofqual regulated Level 5 paralegal qualification and joins NALP’s suite of Ofqual regulated paralegal qualifications. Qualifications includes the Level 3 Certificate for Paralegal technicians, Level 4 Certificate for Associate Paralegals, […]
Back from holiday to potential stamp duty change and CGT chatter – what does it mean for conveyancers?
I came back from a few weeks away thinking I might have missed a little summer slowdown, only to find the housing and property press full of various prospective policies from Government on some potentially seismic changes to property taxation. Stamp Duty Land Tax (SDLT) has long been a political hot potato and a significant […]