Moving house in 2018 cost almost £10bn

The latest research by Compare My Move has found that the average UK homeowner spent more than £10k when moving house in 2018 with first time buyers spending £1,761 on extra moving costs adding four months of saving. According to the report, which used the latest official UK Housing data and their own Cost of Moving House Calculator to explore the true extra costs involved with moving house, Compare My Move found that UK movers collectively spent £9.8 billion on moving house in 2018.…

ONS: House price growth up 2.8% in November

The latest data on UK house prices released by ONS has revealed that average house prices in the UK saw a rise of 2.8% in the year to November 2018, up slightly from 2.7% in October 2018. Over the past two years, there has been a slowdown in UK house price growth, driven mainly by a slowdown in the south and east of England. The lowest annual growth was in London, where prices fell by 0.7% over the year to November 2018, unchanged…

MCR Property Group continues London expansion with 11 new hires

Manchester and London-based property investment company, MCR Property Group, has announced today that it has made 11 new appointments to its growing team in the capital. Following MCR Property Group’s expansion into London during 2018 on the back of an impressive year of results, the company has recruited for senior, management and entry-level positions. With a pipeline of 10,000 units equating to more than £2billion, these strategic appointments will facilitate MCR Property Group’s 2019 plans. The firm anticipates this figure to increase to…

Buy to Let Club announce new partnership with Magellan Homeloans

Buy to Let Club has announced that it has bolstered its distribution panel with the addition of specialist mortgage lender Magellan Homeloans. According to the lender, they will distribute the entire range of Magellan’s products which include the recently launched prime residential options, as well as their buy to let range for individuals, limited companies, HMOs & multi-units. Members will be able to select Buy to Let Club’s fee-free packaging service or choose to submit directly. Jason Neale, Sales Director at Magellan Homeloans,…

How long does it take to sell a BTL property in the UK?

New data, released by specialist online agency, yieldit, has been has crunching its numbers from the six months to 31st December 2018 and attempting to shed light on how long it takes to sell the average buy-to-let property. According to the report, the average buy-to-let property has a sale time of 38 days. The data, which analyses the time taken between a property being listed and an offer being accepted, is notably lower than comparable data from leading property portal Rightmove and Post…

Ipswich BS launch two new 95% products for local FTBs

Ipswich Building Society has announced that it has launched two new mortgage deals for local first time buyers looking to get on the property ladder. According to the lender, applicants can access up to 95% LTV and loans are available to applicants with gifted deposits, including entirely gifted funds for those who have been renting for 12 months or more. The two new ‘heartland exclusive’ products comprise two-year fixed and discount options, offered at lower rates than the Society’s standard product range: …

Persimmon announce ‘strong’ trading performance

Housebuilder, Persimmon, has announced that during 2018 the firm achieved another “strong trading performance”. The volume housebuilder said it expected its pre-tax profits for the year ending December 31 2018 to be “modestly ahead” of current market consensus, with the company benefitting from the new schemes it has opened during the year. During the period, Persimmon’s legal completions grew 3% to 16,449 homes against the same period in 2017, of which 13,341 were for private sales of new homes (2017: 13,274). Its average…

Will 2019 see the end of ‘amateur’ landlords?

The era of the ‘amateur’ landlord may be at an end according to accountants and business advisors French Duncan LLP. This year will see further erosion of the tax benefits of being a landlord and by 2020 there will be few financial incentives left for landlords. Many private landlords became because of circumstances i.e. they inherited property, or they were unable to sell their property and decided to rent it out until the market picked up. These ‘amateur’ landlords, who are estimated to…

London landlords £1.8k worse off since referendum

The latest Landbay Rental Index has revealed that Landlords in the capital are potentially £1,806 worse off since the vote to leave the EU in June 2016. According to the report, using a conservative projection, rental growth in the capital is now 2.84% lower than expected back in June 2016, but this could be as high as 4.15. This higher estimate would leave the average landlord in London £1,806 short in rent due to subdued rental prices, or £1,217 for the mid-point. The…

BTL cashback doubled at Leeds

Leeds BS has announced that it has increased the cashback incentive available on selected two and five year buy-to-let products in another move to help landlords. According to the lender, cashback on their two and five year fixed rate buy-to-let products have been increased from £500 to £1,000. The cashback incentive can help landlords with the finishing touches and costs associated with finding tenants for a new property. Highlights of the updated cashback range, which include a free standard valuation, include: 2.69%…