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HSBC and Coventry raise mortgage rates: Who will be next?
Mortgage rates look set to rise further as two major lenders have announced price increases amid bond market chaos.
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Average landlord portfolio now makes almost £90,000 a year
The average UK landlord portfolio is now making almost £90,000 a year in gross rental income, according to analysis by property management firm Rushbrook. The figures show that the average landlord now owns more than seven properties worth a combined £1.7m. Rushbrook analysed the latest…
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Renters’ Rights Act adds compliance pressure to letting agents
Four months after the Renters’ Rights Act came into force, more than six in 10 letting agents say their teams spend more time on compliance and administration. Research by The Letting Partnership, based on a survey of 163 letting agents in England, found that 62.5%…
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HTB appoints Fyffe lending director for the South
Hampshire Trust Bank (HTB) has appointed Dan Fyffe as lending director within its development finance team, where he will support brokers and SME developers across the South. Reporting to Rob Syrett, head of originations, development finance, Fyffe brings more than 20 years of banking experience…
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PMI reveals downturn in resi building work in August
August data indicated a sustained downturn in business activity across the UK construction sector, led by weakness in the residential building segment. The seasonally adjusted S&P Global UK Construction Purchasing Managers’ Index – an index tracking changes in total industry activity – registered 44.3 in…
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Soaring swap rates bump up mortgage prices: Moneyfacts
Soaring swap rates caused a small fixed rate mortgage increase this week, according to Moneyfacts, with more hikes expected. The average two-year fix is now 5.6%, up from 5.59% a week ago, while the typical five-year fix also rose by 1bps, to 5.64%. Moneyfacts personal…
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Prime London sales strengthen, says Knight Frank
Sales activity across prime London has picked up this year, with buyers increasingly choosing to negotiate on price rather than abandon deals, according to data from Knight Frank. The number of transactions across prime central London (PCL) and prime outer London (POL) in the three…
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Formal complaints from new build buyers triples in a year
The number of formal complaints made to the New Homes Ombudsman (NHOS) has more than tripled in the space of a year, as more developers have signed up to the higher standards and coverage of the Ombudsman, according to new data. Its latest annual report…
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Hampshire Trust Bank hires lending director
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