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Regulator to probe lenders who offer just interest-only mortgages

The Financial Conduct Authority says it is to review lenders offering solely interest-only mortgages to home owners. In its business plan for the coming year it says: “Around 1.8m owners currently have outstanding interest-only mortgages (excluding buy to let), and many do not have an appropriate strategy to repay them. “We will… Source: Estate Agent […]

Agencies round-up: Purplebricks, Harrison Murray, Heaton, and more

The aftermath of Easter and shock announcement of a snap General Election have done little to stop the industry making plenty of staff and other moves this week. Firstly one of the senior non-executive directors of Purplebricks, Nick Discombe, has sold 1.6m shares at £3 per share. After the sale he… Source: Estate Agent News

Agents Do Charity – the never-mind-the-ballots edition

There’s no sign yet that the snap General Election is distracting our industry from continuing its fine record of doing good work for others – perhaps quite the reverse. Everyone whose story we tell today let us know of their activities by emailing press@estateagenttoday.co.uk. If you do the same, we’ll be delighted… Source: Estate Agent […]

Housing market good news: price growth over 10% by end-2020

Average UK house price growth will reach 2.2 per cent this year, a rise of £4,460 that will see the average home worth £210,400 by next Christmas. That’s the forecast from property consultancy BNP Paribas Real Estate and it comes despite the possible market uncertainty caused by the snap General Election… Source: Estate Agent News

Agents 'must advise on property decisions – not just sell homes'

A prominent housing expert says estate agents must not merely sell homes but should become “lifelong consumer property advisors.” Kate Faulkner – creator of Propertychecklists, a consultant to Belvoir and adviser to consumer organisation Which? – says in her latest Designs On Property newsletter that current housing market conditions show even… Source: Estate Agent News

Top PropTech influencers target agents and others with new venture

Two figures with high profiles in the world of PropTech have formed a consultancy to try to sell their services to agents and others in the property industry. Eddie Holmes, recently named as chairman of the UK PropTech Association trade group and who has worked with eMoov on technology issues in… Source: Estate Agent News

James Dearsley: Trussle and Revolut bring FinTech and PropTech together

News was released this week of a new PropTech partnership: banking disrupter Revolut has joined up with mortgage brokerage, Trussle, to offer broking directly to customers.  In my line of work, I find myself talking a lot; so it’s nice when, something happens in the real world that backs up the theories I… Source: Estate Agent News

#GE2017: Housing minister will leave his post on May 3

Yesterday’s decision by MPs to agree to Theresa May’s snap General Election on June 8 means that the current government – including the housing minister role – ends on May 3. Gavin Barwell, the outgoing housing minister, has a narrow Conservative majority in his Croydon Central constituency of just 165 votes…. Source: Estate Agent News

First-ever electronic e-signature exchange of contracts

The first ever electronic e-signature exchange of contracts for a residential property transaction in the UK has been completed this month, it has been revealed. The exchange happened on Thursday April 6 at 15.59pm with the conveyancers and their clients at the offices of Convey Law using the Bonafidee e-signature facility… Source: Estate Agent News

Agents back likely Conservative victory in June General Election

Estate agents have been broadly supportive of the decision by Prime Minister Theresa May to push for a snap General Election on June 8. The decision, likely to be ratified in the House of Commons today, received general support from the industry yesterday with many expressing their hope it would bring… Source: Estate Agent News