Category: Property Law

Client Money Protection schemes to be mandatory for all property agents

Property and letting agents who are found to be handling client money without a Client Money Protection (CMP) scheme could face hefty fines under new regulations which will make such schemes mandatory for all agents.

Government proposes new rules to protect leasehold homeowners and renters

The Government has unveiled new plans to protect some 9 million leasehold homeowners and renters from ‘unscrupulous’ letting and managing agents, amid concerns that thousands of Britons are suffering at the hands of so-called ‘rogue’ agents.

Landlords reap bumper gains from property sales

A new study suggests that the average UK landlord who sold off a rental property in 2017 made almost £87,000 in profit.

Mortgage approvals hit six month high

New data from the Bank of England (BoE) has revealed that mortgage approvals hit a new high in January, with a total of 67,478 loans approved – the highest figure on record since July 2017.

Mortgage approvals up for ‘small deposit’ homebuyers

New data suggests that mortgage approvals for homebuyers with small deposits rose significantly towards the end of last year, as first-time buyers moved to secure their place on the property ladder following an historic Stamp Duty Land Tax (SDLT) cut.

Surge in first-time buyers after Stamp Duty cut

According to a recent study, the number of mortgaged first-time buyers in the UK rose to 365,000 in 2017, the highest level seen in more than a decade, with the rise being attributed largely to November’s Stamp Duty Land Tax (SDLT) cut.