Gary Adams

Property transactions fall 11% in May

The number of residential UK property transactions in May 2019 came to 89,810 – 11.3 per cent lower than the number in May 2018, according to figures from HMRC. The seasonally adjusted figures also show that at 10,090, non-residential transactions fell 3.7 per cent on an annual basis. Between April 2019 and May, residential property […]

Housing market activity restricted to ‘forced’ moves

Housing market transactions are largely due to people having to move due to life changes, according the Bank of England. In its regular ‘summary of business conditions’ report, compiled by its 12 regional agents who talk to a number of businesses throughout the UK, the bank notes that Brexit uncertainty is having a negative effect […]

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Base rate kept at 0.75%

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent. The rate has stayed at this level since it was raised from 0.50 per cent in early August last year. Minutes show that the committee sees downside risks to growth as having increased in the face […]

John Charcol reintroduces Partner Network offer

John Charcol has relaunched its Partner Network on a nationwide basis, with the aim of bringing more self-employed brokers under its brand. Brokers who are interested in working under the John Charcol name will be able to choose from two packages that incorporate varying levels of marketing, compliance, technical, and administrate support. The deals also […]

MAB eyes bigger market share with £16.5m acquisition

Mortgage Advice Bureau has bought 80 per cent of Scotland-based mortgage broker First Mortgage Direct for £16.5m in cash, valuing the entirety of the business at £20.6m. As part of the deal, MAB has an option agreement with First Mortgage Direct managing director Ian McGrail to acquire the remaining 20 per cent of the business […]

Barclays cuts rates and adds new products

Barclays has announced a series of rate cuts across its residential, buy-to-let and reward ranges along with a number of new product entries. Within its residential product suite, the bank has launched an 85 per cent LTV two-year fix at 1.68 per cent. It comes with a £999 product fee and is available for purchase […]

Rethink: industry objections to Treasury’s original proposals for regulation in the private rented

Renters getting older: Hamptons

The number of over 50s who rent their property has grown significantly, making up 15 per cent of all rented households in Great Britain, according to Hamptons International. In 2012, when the estate agent first started tracking this data, the proportion came to 11 per cent – meaning a jump in the number of rented […]

Coventry for Intermediaries targets contractors

Coventry for Intermediaries has changed its lending policy to make borrowing for daily rate contractors easier. Its lending policy asks for a minimum earning requirement of £50,000, for the would-be borrower to show evidence of having 12 months’ experience in the same line of work and to have at least six months remaining on their […]