View more on these topics

Group launched to spread the word on REIT opportunities

Thirty firms from the commercial property and financial services industries have joined the Real Estate Investment Trusts and Quoted Property Group to boost awareness of REITs and quoted property investments.

To achieve the group’s aims, an internet portal called Reita has been created as an impartial source of information on quoted property investment, REITs and the funds that will invest in them. There will also be a supporting publicity campaignThe 30 firms involved include The British Land Company, AXA Investment Management, Lehman Brothers, Merrill Lynch IM, the British Property Federation and the Investment Property Forum.

The REIT regime will end double taxation by exempting eligible quoted property companies from Corporation Tax. This should make it attractive to investors who want tax-efficient indirect property investments.

Liz Peace, chief executive of the BPF, a founder member of the REITs and Quoted Property Group, says: “The long-awaited arrival of REITs marks an important milestone in property investment in this country.

“It opens up a host of opportunities for property firms, financial services providers, financial advisers and individual investors to increase their investments in the commercial property sector.”

Recommended

AMI says brokers must still prepare for HIPs

The Association of Mortgage Intermediaries has warned that brokers must fully engage with the introduction of Home Information Packs despite the government’s U-turn last month. AMI has just released a factsheet entitled Home Information Packs Update, as a follow-up to its November 2005 factsheet. It aims to provide members with information on the recent changes […]

Woolwich relaunches lifetime tracker mortgage

Woolwich has relaunched its lifetime tracker mortgage, guaranteed to stay at 0.19% above the Bank of England base rate with no arrangement and no redemption penalties.Andy Gray, head of mortgages for Woolwich, says: Money markets have pushed the cost of short term fixed rates above 5% so it is making them uncompetitive compared to tracker […]

Fighting for customers

Whether it’s Michael Bolton airing his views on packagers or lenders responding to claims about unreasonable exit fees, the mortgage industry prides itself on being a dynamic community that enjoys a healthy debate about the future of the housing market.

MS can help us fight the battle for better servicing

From Toni Moss Regarding Mike Culhane’s column in the July 31 issue of Mortgage Strategy I’d like to thank him for highlighting the importance of servicing and the need for improved performance. Repositioning the servicing sector, whether it relates to inhouse servicing, prime or sub-prime lending, is an uphill battle – and one that I […]

Newsletter

News and expert analysis straight to your inbox

Sign up