New research suggests cash buyers can save thousands of pounds when buying a house compared to those buying with a mortgage. According to finance specialist One77 Mortgages, who analysed house price data from the Land Registry, it costs those buying with a mortgage on average 9 percent more than cash buyers. Alastair McKee, managing director of
A ‘negligent’ landlord from Camberwell has been ordered to pay costs of more than £20,000 after failing to apply for a licence. Omo Ayoade, 45, appeared in Camberwell Magistrates’ Court after complaints from his tenants and after he failed to apply for a license. A resident living in one of his three flats had complained
A landlord who is accused of illegally renting out property has said he “is only helping people.” Robert Crow, 69, is accused of breaching a court order which banned him renting out his Southend property after he was convicted of 18 offences in September. Mr Crow attended Southend Magistrate’s Court. His address has repeatedly been
UK property transactions have been reducing at a rapid rate, according to recent research. The study carried out by estate agent software platform, Reapit, found that UK property transactions have fallen by over a third in the past three months. Property transactions between November 2018 and January 2019 fell by 36% compared to the same
The legal side of property transactions can be a lengthy and complicated process. A recent study found that the average conveyancing case involved 130 documents, as well as 300 emails between clients and agents or lawyers. In light of this, UNU Group has launched a free legal helpline, designed to offer help and support. The
A new property tax is being considered for people buying property in parts of the UK who are non-UK residents as part of the government’s effort to help control the rise of house prices. The Treasury has launched a consultation into proposals to add 1% onto the stamp duty paid when buying a home in
A new report suggests city living is at its least affordable levels for home buyers since 2007. The study by Lloyds Bank found that the average house price in a UK city in 2018 equated to 7.2 times average annual earnings. This makes the cost of buying a home the least affordable since 2007. The
The government is working on a new house sale agreement aimed at speeding up the buying process which will be trialled later this year, according to Housing Minister Heather Wheeler. Wheeler said the aim is to develop a standard reservation agreement and officials are working with the industry led Home Buying and Selling Group. Furthermore,
Official figures reveal there were 102,703 sales received by the Land Registry in November last year. Of these, 77,369 were freehold, a 2% decrease on November 2017 and 14,866 were newly built, a 13.5% increase over the same period. Of the 102,703 sales received for registration, some 31,721 took place in November 2018 of which
A family of landlords has been ordered to pay almost £250,000 after “cramming” 31 tenants into a four-bedroom house. Council officers found the tenants were forced to sleep in shifts as night workers would swap with those who had daytime working hours at the property in Wembley. Four beds were found in the front room