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Lack of supply continues to push house prices upwards – RICS

By Michael Griffiths

10/06/2021

House prices in the UK are continuing to rise as new listings fail to keep up with the number of interested buyers, according to new research from the Royal Institution of Chartered Surveyors (RICS).

The latest RICS UK Residential Market Survey for May showed that the number of people looking to buy a new home continued to climb, with 32% more respondents noting an increase from prospective buyers

The total saving for UK homebuyers from the stamp duty holiday could reach £3.4bn by the end of the deadline, according to new analysis by GetAgent

UTB to offer Recovery Loan Scheme facilities

United Trust Bank (UTB) has announced that it will begin offering Recovery Loan Scheme (RLS) facilities of up to £10m

Pepper Money partners with Ecologi

Pepper Money has announced a new partnership with Ecologi to combat climate change

Furlough criteria searches on the decline, Knowledge Bank data reveals

“Furloughed workers” is no longer among the most searched terms by brokers, new data published by Knowledge Bank has revealed

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Yorkshire Building Society reduces remortgage rates

Yorkshire Building Society has announced reductions to selected rates for its remortgage customers

Lack of supply continues to push house prices upwards – RICS

House prices in the UK are continuing to rise as new listings fail to keep up with the number of interested buyers, according to new research from the Royal Institution of Chartered Surveyors (RICS). The latest RICS UK Residential Market Survey for May showed that the number of people looking to buy a new home continued to climb, with 32% more respondents noting an increase from prospective buyers

Rise in broker satisfaction among mortgage lenders, study finds

Broker satisfaction with mortgage lenders has seen a 2.5% increase from 77.8% to 80.3% in the last six months, according to new research from Smart Money People

Furlough criteria searches on the decline, Knowledge Bank data reveals

“Furloughed workers” is no longer among the most searched terms by brokers, new data published by Knowledge Bank has revealed

Total stamp duty holiday saving could reach £3.4bn

The total saving for UK homebuyers from the stamp duty holiday could reach £3.4bn by the end of the deadline, according to new analysis by GetAgent

HMRC’s total tax receipts drop 7.8% in 2020/21

The government has revealed that HMRC collected £584.3bn in taxes in 2020/2021, a decrease of 7.8% from the year before

Frozen IHT thresholds will impact one in three adviser clients

One in three (31%) clients are likely to be affected by the frozen inheritance tax (IHT) thresholds, according to a survey among financial advisers from Octopus Investments

OTS publishes new report on Capital Gains Tax

The Office for Tax Simplification (OTS) has issued a second report on Capital Gains Tax (CGT)

SmartSearch warns firms of GDPR breach risk

Anti-money laundering (AML) specialist, SmartSearch, has warned that many businesses may be at risk of being in breach of General Data Protection Regulation (GDPR) rules due to a lack of secure data hosting

AMI criticises FCA’s fees and levies consultation

The Association of Mortgage Intermediaries (AMI) has expressed “deep concern” at the FCA’s latest fees and levies consultation

FCA plans to stop ‘claims management phoenixing’

The FCA has announced new plans to stop the practice of ‘claims management phoenixing’

FSCS confirms reduction to levy forecast for 2021/22

The Financial Services Compensation Scheme (FSCS) has revised its levy forecast for 2021/22 to £833m, a reduction from the initially forecast levy for the year of £1.04bn

UK GDP increases 2.3% in April

The UK GDP is estimated to have grown by 2.3% in April, new figures published by the Office for National Statistics (ONS) have revealed

Three in four people targeted by fraud in UK

Three in four (76%) UK consumers have been targeted by fraud, according to new findings from TransUnion

Credit and debit card spending up 7.6% in May

Consumer spending increased by 7.6% in May compared to the same period in 2019, as the further lifting of lockdown restrictions encouraged more spending across the UK

Consumer finance new business jumps 147% from last April

New business conducted across consumer finance jumped by 147% in April compared with the same month last year, according to new figures published by the Finance & Leasing Association (FLA)

One in four have never heard of pension tax relief

Fundamental aspects of pensions remain a mystery to many people, according to new research from Royal London, after 27% of people admitted they have never heard of tax relief

Govt’s 'sloth-like policymaking’ costs lower earners £150m in pension funds

Delays on policy decisions have cost lower earners nearly £150m in pension funds, according to new calculations from Quilter

One in four 55-64-year olds still unaware of pension freedoms

A quarter (25%) of people between the ages of 55 and 64 are still not aware of pension freedoms, despite the reforms being introduced more than six years ago, new research from Fidelity International has revealed

Govt should nudge people to save more into pension throughout working life – IFS

The Institute for Fiscal Studies (IFS) has encouraged savers to substantially increase the proportion of earnings they set aside for retirement through their working life

Pandemic prompts sustainable investing desire in UK, study finds

COVID-19 has prompted a desire to move into ethical and sustainable investing for more than half (51%) of advised UK adults, research from Prudential UK has found

UTB secures ENABLE Build guarantee to support SME house builders

United Trust Bank (UTB) has secured an ENABLE Build guarantee via the British Business Bank

34% of landlords purchasing another BTL property

Thirty-four per cent of landlords have recently purchased another buy-to-let (BTL) property or intend to buy one within the next nine months, new research has revealed

Govt raises £1.1bn through NatWest shareholding sale

The Treasury has announced the £1.1bn sale of part of the government’s shareholding in NatWest Group

Ignition and Altus Consulting launch paper to improve technology in financial advice market

Ignition and Altus Consulting have launched a blueprint for improving the use of digital capabilities in the financial advice market

Accord Mortgages joins Mortgage Brain’s Lendex

Accord Mortgages has become the latest lender to join Mortgage Brain’s multi-lender application and submission gateway, Lendex

Black & White Bridging partners with Nivo

Black & White Bridging has announced a partnership with fintech specialist, Nivo, to introduce a new app based application process

Later life lending market to embrace technology after pandemic

Thirty-six per cent of advisers believe the later life lending market will choose technology over paper-based processes when the industry returns to more normal conditions, according to new research conducted by more2life

Dudley Building Society launches new green products

Dudley Building Society has announced the launch of new products aimed at homeowners and landlords looking to improve the Energy Performance Certificate (EPC) rating of their properties

UTB to offer Recovery Loan Scheme facilities

United Trust Bank (UTB) has announced that it will begin offering Recovery Loan Scheme (RLS) facilities of up to £10m

Pepper Money partners with Ecologi

Pepper Money has announced a new partnership with Ecologi to combat climate change

Suros Capital partners with Bluebox Finance

Luxury asset short-term lender, Suros Capital, has signed an origination agreement with specialist business and property finance broker, Bluebox Finance

BLOG: Open banking can help lenders take a Moneyball approach to Generation Rent

Yolt Technology Services head of UK sales Jack Tenwick explains the open banking 'Moneyball' approach

BLOG: ESG pensions made simple

ESG pensions made simple: “Impartial, whole of market ESG pension advice for no more than 0.92% per year including advice, platform and fund charges”

BLOG: 6 ways open banking will reshape the lending landscape in the UK

Yolt Technology Services explores how open banking will reshape the lending landscape in the UK

BLOG: Housing equity: a long-term care funding solution for the future?

Pure Retirement CEO, Paul Carter, explores the role that housing equity can play in providing long-term care for the over-50s

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