Mortgage Default Rates Increase, Posing Threat to Financial Stability
Banks have sounded the alarm as default rates experienced a surge in the final quarter of 2023, though at a slower pace compared to the preceding quarter, raising apprehensions about a potential worsening of the situation. According to the latest quarterly credit conditions survey released by the Bank of England just before the weekend, lenders […]
Government Contemplates One Percent Deposit Mortgages
In a move that has stirred significant controversy, the government is reportedly considering a groundbreaking proposal to allow renters to secure mortgages with just a one percent deposit. This idea, disclosed over the weekend, is being framed as a radical variation of the previous Help to Buy scheme, which permitted some buyers to acquire new […]
Landlords Seek Practical Amendments to Renters (Reform) Bill
In a concerted effort to enhance the effectiveness of the Renters (Reform) Bill within the private rented sector, landlords are urging Members of Parliament (MPs) to endorse practical amendments to the legislation. The landlords’ appeal for support comes in the wake of proposed changes introduced by Conservative MP Anthony Mangnall and fellow lawmakers ahead of […]
Surge in Rental Yields Boosts Buy-to-Let Market in Key UK Regions
The final quarter of 2023 has witnessed a significant uptick in rental yields across the United Kingdom, with Wales, the north west, and Yorkshire and the Humber emerging as the standout performers. According to the latest data from Fleet Mortgages, buy-to-let landlords are now enjoying an average yield of 6.9%, marking a 0.3% increase compared […]
Government Urged to Extend Legal Protection to Tenants in The PRS
In a compelling demand for immediate government intervention, Members of Parliament (MPs) are calling for urgent measures to safeguard tenants residing in substandard privately rented homes, as highlighted in a recently released report by the all-party Health and Social Care Committee. The report underscores the pressing need for the government to revamp the Decent Homes […]