Ciarán Campbell

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Articles

Tory plans for Renters Reform Bill leaked

Apr 4, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: government and politicsA leaked letter by Housing Minister Jacob Young, reveals the government is making a series of changes to the Renters Reform Bill, in the reporting stage of its progress through Parliament. The amendments, outlined in a letter to Conservative MPs, include several significant changes. Some believe they will address the bias against landlords, while others believe they will detract from the original purpose of the Bill.
House of Lords wants Government to follow through with property agent regulator

Mar 27, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: government and politicsIn a recent development, the House of Lords Industry and Regulators Committee has issued a stern call to the government, urging immediate action to act on existing plans for more regulation of property agents to protect landlords, tenants, and other stakeholders.
March 2024 base rate announced, how are landlords affected?

Mar 21, 2024 | commercialtrust.co.uk | Ciarán Campbell

Categories: government and politics | base rateThe Monetary Policy Committee (MPC) announced the base rate on Thursday 21 March 2024, just a day after the Office of National Statistics (ONS) released February’s inflation data. With these two key metrics of the economy now updated, what can landlords expect from the mortgage market? On Wednesday 20 March, the ONS released data showing inflation fell by 0.6 per cent in February, now standing at 3.4 per cent.
Fifth consecutive rise for house prices in February

Mar 13, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: house pricesThe UK housing market has continued its upward trajectory, marking the fifth consecutive month of growth in February – marking continued asset appreciation for landlords. According to the latest data from the Halifax House Price Index, residential property prices rose by 0.4 per cent, with the average house price reaching £291,699.
Landlords are a significant benefit to local communities, survey finds

Mar 13, 2024 | commercialtrust.co.uk | Ciarán Campbell

Categories: government and politics | property marketRecent research conducted by specialist lender Aldermore sheds light on the significant financial contributions landlords make to local economies. Amid a cost of living crisis, this survey suggests landlords are an often-overlooked support for local communities, not only through providing housing but also by providing business to local businesses.
Landlords affected as Chancellor announces Spring Budget

Mar 7, 2024 | commercialtrust.co.uk | Ciarán Campbell

Categories: government and politics | taxJeremy Hunt announced the second Spring Budget of his tenure as Chancellor on Wednesday, and perhaps the last budget before the general election. The Chancellor is cutting National Insurance by 2p, as well as increasing government spending for historically under-funded areas, extending support for cost of living, as well as support for the National Health Service.
Record-breaking figures for property auctions in January 2024

Mar 1, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: property marketThe UK property auction sector has kicked off 2024 with unprecedented vigour, marking January 2024 as its busiest January ever. According to Essential Information Group (EIG), a leading provider of data and insights in the UK property auction market, there has been a remarkable surge in activity, setting the stage for a promising year ahead.
Government reveals policies relating to holiday lets

Feb 23, 2024 | commercialtrust.co.uk | Ciarán Campbell

Categories: government and politics | holiday letsIn an attempt to address the ‘hollowing out’ of certain communities, Michael Gove has announced a policy that will see holiday let properties require planning permission from the local authority, as well as the introduction of a national register for short-term lets.
Industry leaders call for Norway-inspired 47-day property transfers

Feb 16, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: government and politicsPositive news for property investors, as industry leader’s call for the UK to adopt Norway’s digitised property transaction process, to revolutionise the speed of buying and selling property and eliminate chains. MP Baroness Penn, under-secretary of State in the Department for Levelling Up, Housing and Communities (DLUHC) spoke at the Council for Licensed Conveyancers (CLC) annual conference.
Inflation holds as UK enters a recession – where does that put mortgage rates?

Feb 16, 2024 | commercialtrust.co.uk | Ciarán Campbell

Category: government and politicsRecent data from the Office of National Statistics (ONS) reveals that the UK closed 2023 in a technical recession. However, inflation held at 4 per cent in January 2024 – what does this mean for mortgage rates? A recession is defined as a decline in Gross Domestic Product (GDP) for two quarters in a row (half a year).