News

In a significant monetary policy shift, the Bank of England has implemented a reduction in UK interest rates from 5% to4.75%, aligning with market predictions as inflation rates plummet to 1.7%, far beneath the target of 2%. This strategic cut aims to relieve financial pressures faced by borrowers, particularly those seeking to remortgage or first-time buyers striving to enter the property market amidst...

Edinburgh is currently facing a housing crisis that has prompted the City Council to take decisive action regarding the well-being of its vulnerable homeless population. With 700 residents housed in unlicensed temporary accommodations across 30 different properties, the council is set to relocate these individuals by early December2024. This initiative is a response to escalating concerns voiced by local...

The UK property insurance sector is facing unprecedented challenges in 2024, with claims rising to record highs due to an increase in extreme weather events. According to the Association of British Insurers (ABI), total claims in the first nine months of 2024 reached a staggering £4.1 billion, marking a significant escalation from previous years. The third quarter alone accounted for £1.3 billion in...

In North Belfast, the heated debate over Houses of Multiple Occupation (HMOs) has reached new heights as the local community rallies against recent planning applications. This year, the city hall has witnessed a series of rejections for HMO conversions, notably with four applications being denied, a reflection of the growing concerns among residents about the implications of these properties on...

The Borough of Harrow is grappling with a pressing crisis related to illegal Houses of Multiple Occupation (HMOs), as illuminated by recent revelations in the reality TV show 'Nightmare Tenants, Slum Landlords.' Though HMOs can serve as crucial affordable housing solutions for many, they are required to adhere to stringent licensing and safety regulations to ensure tenant welfare. Harrow Council's...

In recent years, Kent has witnessed a significant increase in the number of Houses in Multiple Occupation (HMOs), with nearly 2,000 of these shared living spaces currently in operation throughout the region. Defined as properties accommodating occupants from more than one household, HMOs are becoming an alternative living arrangement, especially for younger individuals and low-income tenants. This article...

Foundation Home Loans has announced an exciting reform of its Buy to Let Specials, featuring attractive new competitive rates starting from November 12,2024. This revamped offering provides diverse options for landlords while addressing the needs of different borrower profiles. Organized into two distinct tiers—F1 and F2—these products are set to enhance the property investment strategies of both...

In Southampton, a curious case has emerged with the sudden appearance of DIY double yellow lines on Howard Road, raising eyebrows and concerns among local residents. These markings extend beyond the official lines designated by traffic regulations, particularly crossing the driveway of a multiple occupation house (HMO). As the community grapples with the legality and implications of these unofficial lines,...

As we approach the end of 2024, the commercial real estate (CRE) sector finds itself at a pivotal juncture, undertaking significant transformations fueled by economic pressures, evolving tenant expectations, and technological advancements. In response to these changing dynamics, Deloitte has unveiled its comprehensive 2025 Commercial Real Estate Outlook, designed to guide industry leaders in navigating the...

In November 2024, the Bank of England's decision to reduce interest rates from 5% to4.75% has drawn significant attention, especially as the inflation rate currently sits at 1.7%—well below the target of 2%. For many borrowers, particularly those on variable-rate mortgages, this change is viewed as a reassuring development amidst ongoing financial pressures linked to the cost of living crisis. Numerous...