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56% boom in demand for rented accommodation

Your Move says that demand for rented accommodation boomed 56% over the last year.

Despite a 7.6% month on month slowdown in the number of people signing up to new leases, rental demand in January 2009 was up a massive 56.4% on 2008.

David Newnes, managing director of Your Move, says: “As far as the 2008 property market was concerned, rental demand was a diamond in the rough. 

“While the mortgage market was still in dire straits, the drop in lending boosted the lettings market.”

But in January he says that while people are still choosing to rent, the number of mortgage approvals has increased.

He adds: “The slight dip in demand for lettings, and the up-tick in mortgage approvals seem to suggest that now most of the banks are owned by the government, they’ve been forced to start lending again. 

“I think a lot of government pressure is being applied to lenders to start offering some decent mortgages – rental demand has suffered as a result.”


BDS members see MPPI increase

BDS network has conducted a survey among its appointed representatives which shows almost half reported an increase in the sale of mortgage payment protection insurance, while a third have increased income protection sales.

House buying process moves online

Online estate agents Get-Set-Go have teamed up with Email Mortgages to allow buyers and sellers to find properties and arrange mortgages online.

Barratt reports half-year loss of almost £600m

Barratt Developments has posted a pre-tax loss of almost £600m for the second half of last year as it attempts to stay afloat in “an intensely difficult market.”

Pension savings-2015

Overseas transfer charge

By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]


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