Welcome to this week’s edition of Property News Weekly, where we bring you the latest insights shaping the UK property market.
The government has launched a 12-week project to streamline the house-buying process by implementing data-sharing rules between conveyancers, lenders, and other parties. This initiative is part of efforts to digitise the process and reduce paperwork.
Meanwhile, 2024 saw a record 60,000 new buy-to-let limited companies, with 70-75% of new purchases now made through limited companies, highlighting a growing focus on tax efficiency. On the mortgage front, borrowing costs are expected to drop to their lowest in over 18 months, easing affordability for first-time buyers and those remortgaging.
Meanwhile, 2024 saw a record 60,000 new buy-to-let limited companies, with 70-75% of new purchases now made through limited companies, highlighting a growing focus on tax efficiency. On the mortgage front, borrowing costs are expected to drop to their lowest in over 18 months, easing affordability for first-time buyers and those remortgaging.
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Property News this Week:
The government has announced a 12-week project to develop and implement data-sharing rules that will streamline communication between conveyancers, lenders, and other parties involved in property transactions.
As part of efforts to accelerate the house-buying process, the government is exploring ways to digitise more of the transaction process. Reforming the housing sector is a key priority in Labour’s plans, with ministers aiming to modernise the current system, which is often slow and burdened by excessive paperwork.
As part of efforts to accelerate the house-buying process, the government is exploring ways to digitise more of the transaction process. Reforming the housing sector is a key priority in Labour’s plans, with ministers aiming to modernise the current system, which is often slow and burdened by excessive paperwork.
2024 saw a record 60,000 new buy-to-let limited companies established, a 23% increase from the previous year, bringing the total number of UK buy-to-let companies to over 390,000. Research from Hamptons International shows 70-75% of new buy-to-let purchases are now made through limited companies, with 30-40% of these held by companies set up in the last year.
Currently, around 680,000 properties are held in limited companies, and this number is expected to grow by 70,000-100,000 annually. As Stuart Marshall notes, younger investors are increasingly focused on tax efficiency and future-proofing their investments.
Currently, around 680,000 properties are held in limited companies, and this number is expected to grow by 70,000-100,000 annually. As Stuart Marshall notes, younger investors are increasingly focused on tax efficiency and future-proofing their investments.
Borrowing costs are expected to reach their lowest level in over 18 months, as the base rate influences mortgage, loan, and savings interest rates. Recent rate hikes, designed to combat inflation, have kept mortgage rates higher than usual for most of the past decade.
Ryan Etchells, Chief Commercial Officer at property lender Together, says the rate cut will ease borrowing costs for first-time buyers and those remortgaging, improving affordability. The Bank’s response over the next 12-18 months will be closely watched.
Ryan Etchells, Chief Commercial Officer at property lender Together, says the rate cut will ease borrowing costs for first-time buyers and those remortgaging, improving affordability. The Bank’s response over the next 12-18 months will be closely watched.
That concludes this week’s updates. If you have any thoughts or questions about these headlines, feel free to reply, I’d love to chat with you about the latest market trends and discuss your investment goals.
I hope you have a great weekend.
