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Government proposes changing legislation to enforce combustibles ban for high rises NEWS18/06/184:30 PMBY PETER APPS The government has proposed legislation to ban the use of combustible materials anywhere within the wall of a high-rise building, with potentially unlimited fines for breaches. A consultation document fleshing out last month’s surprise proposal to ban combustible materials on high rises was published by the Ministry of Housing, Communities and Local Government today. Currently, building regulations allow the external surfaces of walls on high rises to be ‘Class 0’ rated materials and insulation to be ‘limited combustibility’. Alternatively, combustible materials can be used if they pass a fire safety test. Today the government proposed amending legislation to implement a total ban on combustible materials in the walls of high rises in all buildings over 18m. Full story here: https://www.insidehousing.co.uk/news/government-proposes-changing-legislation-to-enforce-combustibles-ban-for-high-rises-56822
Renting now more expensive than buying in all areas of UK By Emma Simon 20th June 2018 10:04 am Average rental prices are now higher than average mortgage repayments in every region of the UK, according to research from Santander Mortgages. According to Santander the average rent in the UK now stands at £912 per household, compared to monthly mortgage repayments of £723 for the average first-time buyer. This equates to savings of £189 a month or £2,268 a year for the typical first-time buyer. Read the full story here: https://www.mortgagestrategy.co.uk/renting-now-more-expensive-than-buying-in-all-areas-of-uk/?platform=hootsuite
Reading Material & Other Resources?
lswain posted a topic in General property discussionHi Everyone I've recently started my property education journey and I'm keen to know what resources you listen to/read on a regular basis that help inform your decisions. For example, press releases, various housing reports, government info, lending, banking, taxes etc. I know that traditional media is not necessarily a great resource so I'm keen to get under the skin of the industry a bit, and would love your help! Thanks so much, Lindsay
Tipton and Colsey building society has announced it is to give holiday-lets and buy-to-let mortgages to customers wanting to specifically rent the property through Airbnb. Currently, this is a gap in the market as the number of people renting through Airbnb is on the rise, with few lenders offering this type of let as a condition of their mortgage. The facts: - Available to applicants that want a shorter or no fixed term agreements. - Available for second homes, holiday-lets, and remortgages - Maximum LTV is 75% - In addition to personal earnings, income made from the property will be taken into consideration when looking at overall lending. Read the full story here: https://bit.ly/2LoSnzB
New Tax for Foreign Buyers
Nyall Driscoll posted a topic in General property discussionHi, Would be interested to hear people's thoughts on this announcement today https://www.bbc.co.uk/news/uk-politics-45698446 Thanks, Nyall
The Sunday Times - Case Study Request
Vicky Nunes posted a topic in General property discussionThe Sunday Times are looking to feature case studies of a couple of investors who have taken measures to prepare for the coming tax changes. It could be that they’ve moved existing properties into a company, or formed a company for new purchases, or sold properties, or reviewed their portfolio to boost income/cut costs, or anything else… If you have a story that you'd like us to put forwards, please PM with your contact number by Monday at midnight. Thanks