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In this month’s edition … we look at jargon-busting property surveys, discuss a new affordability test that will free thousands from high interest mortgages and discover castles for sale in Devizes and Turkey
The Property Market Monthly Fact File
The property market fact file is a collection of data compiled each month by our Chartered Surveyors and the propertysurveying.co.uk team, reflecting survey data, statistics, trends and information from the property market. This provides a single place where anyone with an interest in UK property can find the information they need.
Legal: Serious Fraud Office investigating major property developments
Three major property development schemes are being investigated for suspected fraud after a series of failed contracts and developers. Investors from the UK and overseas are set to lose millions after paying up front for flats on the failed developments.
A surveyor’s guide to: jargon-busting house surveys
Think a new property costs enough without the financial extravagance of appointing a Chartered Surveyor? We demystify house surveys, which are a necessary part of the home buying process as the Royal Institution of Chartered Surveyors works to simplify the current Homebuyers Report.
UK housing market still moving despite Brexit uncertaintyÂ
Contrary to view of the Royal Institution of Chartered Surveyor and other property professionals, the estate agent association says the UK’s housing market is not suffering as a result of Brexit uncertainty.
Affordability test to free mortgage prisoners
The Financial Conduct Authority has announced a long-awaited change of rules that will help free thousands of homeowners from high interest mortgage rates to which they have been committed for years.
Will a rental property ‘MOT’ improve standards?
A specialist UK ‘inventory services’ provider is backing an MOT-style report on rental property to safeguard tenants of private landlords, following recommendations in a review of the Private Rental Sector published in September 2018.
Pensioners will pay their mortgage long into retirement
A recent survey has found that four in ten first time property buyers who took out a mortgage in 2017 will still be making repayments after retirement. Financial regulators warn that this will have a massive impact on an aging population – and their pensions.
Rental App to reduce illegal sub-letting of property
Lavanda is launching a new short-term rental App in a bid to eradicate tenancy breaches caused by sub-letting rental property. The App aims to benefit both landlord and tenant, by allowing tenant to sub-let their home, when they’re away or low on funds, while paying a percentage of the income generated to the owner of the property.
A tidy house really does lead to a tidy mind
Those of us who aren’t minded to remove all semblance of personal home comforts and possessions from our houses and workplaces, in the name of tidiness, rejoice – we can keep the things that ‘spark joy’!
Latest study reveals tenants suffer when a landlord sells up
Data on tenants in the private rental sector shows that nearly a quarter have been asked to leave their homes because their landlord is selling the property. But does this make sense, when four out of five people say they don’t mind who their landlord is, as long as their home and tenancy agreement stayed the same.
New Battle of Hastings, as pier owner shuts gates
The ‘Goldfinger of Hastings’ angers locals by buying second historic pier that they had hoped to crowdfund for the community, then closing the gates.
Impressive castle home for sale in Devizes, Wiltshire
The historic market town of Devizes has a long and colourful Medieval past. Over 500 listed buildings and a central marketplace sit beneath spectacular nine-bedroom Devizes Castle, which is being marketed for £2.5 million.
And finally (if Wiltshire isn’t for you) …
Interested in a luxury Turkish chateaux at an affordable price?
A bizarre development of 732 identical mock French chateau villas lies unfinished and unoccupied amidst attractive mountains and forests in Turkey. The developers say that the sale of a further 100 sales of the circa $400k properties would pay off the company’s debts, which would enable the development to continue.
Written by Independent Chartered Surveyors
of the UK wide network of Property Professionals
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