The Bank of England has decided to keep interest rates at the current level of 0.1%, whilst Brexit talks are ongoing. The vote, which was undertaken by the Monetary Policy Committee, came to this conclusion at their final meeting of 2020.
The chief executive of the National Residential Landlords Association (NRLA) has issued a demand to senior MP’s for financial help, for the private rental sector, in response to the difficulties posed by the coronavirus pandemic.
Undeterred by the global pandemic, weakness in rents, or changes to tax, buy to let sales have reached their highest figure since December 2016.
Based on a survey of 436,810 homes, the Valuation Office Agency has released its annual private rental market summary from 1 October 2019 to 30 September 2020.
Landlords keen to utilise a discount on stamp duty, face uncertainty around hitting completion in time. Jorden Abbs, director of sales at Commercial Trust Limited, shares a tactic which could mitigate this risk.
Many first-time buyers have been significantly impacted by the coronavirus pandemic, with rising loan to values and increased difficulty to get on the residential property ladder.
Debate on whether the stamp duty holiday will be extended is a current hot topic for the industry and for the economy.
In a recent survey conducted by OnePoll, for The Mortgage Lender, it has come to light that 64% of landlords say they haven’t received any financial support due to the pandemic.