The Property Pages

Code of Practice for Estate Agents set to change industry forever

Source: Code of Practice for Estate Agents set to change indu…

Unclear if sales can still complete as Leicester agents prepare for new lockdown

Source: Agents left in limbo as Leicester enters local lockdown – Property Industry Eye

Risk-averse landlords are remortgaging primarily to build a war chest, research from Mortgage for Business has revealed. Some 30% of property investors are now taking out a buy-to-let remortgage with a view to expanding their portfolio and growing their cash reserves. Nearly half (46%) are increasing the size of their loans – significantly higher than […]

Source: Buy-to-let landlords are building war chests – PropertyWire

Rolling coverage of the latest economic and financial news

Source: UK mortgage approvals slump as Covid-19 hits housing market – as it happened | Business | The Guardian

The Treasury Select Committee (TSC) of MPs is putting pressure on the Financial Conduct Authority (FCA) to improve its complaints handling process after hearing many complainants are “suffering prolonged delays” and “poor communication”.

Source: ‘Troubling’ FCA complaints handling must improve, MPs say – Mortgage Solutions

The coronavirus epidemic had a significant impact on the economy, even before lockdown began – with a 10.4% decrease in the UK economy between February and April.

Source: The Impact of Covid-19 on the Property Market | Chestertons International

Housing market activity is bouncing back to higher levels than before the lockdown based on home sales, demand and house price growth, Zoopla’s House Price Index has found. The number of agreed home sales has rebounded by 4% between early March and May. House price growth has risen to 2.4% in May, up from 1.6% […]

Source: Pent up demand fuelling housing market – PropertyWire

The post-lockdown surge in housing market activity has continued into its sixth week, as at least one agency’s indicators hit record levels.

Source: Boom! Agency records highest ever number of offers ac…

During lockdown most banks put mortgages with a loan-to-value of more than 70% on hold

Source: Update for first-time buyers on 5% or 10% deposits after lockdown – MyLondon

As the property market struggles to get through the pandemic, it’s heading for another challenge as a Brexit deadline nears

Source: Largest UK property funds likely to stay frozen for up to six months longer – Financial News