A recent surge in higher mortgage rates has significantly impacted landlords, particularly those with loan-to-value (LTV) mortgages of 50-75%, a bracket that encompasses approximately 20-30% of all landlords. Many would think that this will lead to landlords selling properties en masse, but the situation is slightly more complicated than that. The Impact of Higher Mortgage Continue Reading…
UK house prices remain a constant topic of conversation, with consecutive interest rate hikes leading to higher mortgage prices but not a corresponding fall in the property market. In fact recent data actually showed an increase in average house values. How is that possible? The June 2023 Price Index, of property website Zoopla, generated a Continue Reading…
New data has been published revealing the most profitable stock for motor traders. The information should prove highly valuable to dealers by steering them towards the vehicles they should be trying to get their hands on! So what makes and models came out on top? If your business buys, sells, repairs or modifies vehicles then Continue Reading…
We recently covered the controversial topic of whether the London Knowledge should be simplified. Proposals have been put forward to reduce the complexity of the test. The theory is that this will attract a higher number of new applications and slow the worrying reduction in overall driver numbers. The blog post certainly generated a passionate Continue Reading…
The construction sector plays a vital role in the UK economy, contributing to infrastructure development, job creation, and economic growth. However, like any other sector, it is not immune to changes and fluctuations. According to recent forecasts, the construction sector is expected to experience a shrinkage in 2023. Despite this overall trend, there is an Continue Reading…
With London cab driver numbers dwindling the trade faces an existential crisis. Is an overhaul of “The Knowledge” the best route forward for this proudly, iconic and fiercely traditional industry? Black taxis are part of the fabric of the city. This is, in large part, due to their encyclopedic knowledge of London’s streets, picked up Continue Reading…
The online estate agency Purplebricks was touted as the ‘Uber of estate agents’, set to disrupt the dusty property world. It hasn’t exactly turned out like that. Charles Dunstone, through his estate agency venture, Strike, has assumed control of Purplebricks. This move was precipitated by a staggering 91.2% of Purplebricks’ shareholders consenting to his £1 Continue Reading…
It’s the biggest legal reform to the rental sector in over the last 30 years. It’s blindingly obvious which side it favours. After bated breath from Landlords, the Government has finally revealed its rental reform plans in the Renters (Reform) Bill. These proposed changes are the most significant the private rental sector (PRS) has witnessed Continue Reading…
What’s behind the distressing rise in vehicle thefts? The Office for National Statistics recorded 130,389 vehicle thefts last year. This is an increase of 25% compared with 2021. Pretty worrying when you sit back and think about it. The figures are also influenced by the third national lockdown from January to March 2021, when crime Continue Reading…
This is the fastest drop since the start of the millennium – Diesel prices have been on quite a journey over the last seven months. In May 2023, they slid by a record-breaking 12p. The RAC has reported that the average cost of diesel at UK filling stations dropped from 158.9p to a more manageable Continue Reading…
