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What is happening to the UK property market

What is happening to the uk property market

What is happening to the UK property market

Whether you’re applying for your first mortgage, or you’re already a homeowner, you’ll know there’s a lot of news coverage about interest rates, inflation and mortgage loans right now. 

So what’s happening, and why? How it might affect you will depend on what type of mortgage deal you’re looking for, or the type of deal you’re on – and how much longer is left on the term of your loan. 

Plus, forecasts on rising interest rates are changing quickly, along with wider economic conditions. No one knows for sure what’s ahead, but we’re still seeing tens of thousands of people requesting to view properties each day, which is the same level that we’ve seen all month.

So if you are thinking of moving, or if your mortgage term is coming to an end soon, here we’ve tried to help answer some of the questions you might have. 

Why are mortgage rates rising now?

Before this week, mortgage rates had already been increasing throughout the year. The Bank of England sets the ‘base rate’, which lenders use to set their own mortgage rates. In January of this year, the base rate was 0.25%. Since then, it has gone up incrementally and is currently 2.25%. 

The Government sets the Bank of England an inflation target of 2%, but the current rate is 9.9%. It’s the Bank of England’s responsibility to make sure inflation is low and stable, so they need to bring inflation back down. The way they do that is by increasing interest rates. 

The Bank of England forecasts inflation to rise to about 11% in October, and that it will stay above 10% for a few months before starting to fall. 

Rising interest rates have led to an increase in the average mortgage rates that are available. As an example, if you have a 10% deposit and choose to take out a two-year fixed rate mortgage, the typical rate that was available in January was 2%. That increased to an average of 3.9% at the end of August. These rises had been predicted and lenders were able to factor them in gradually. 

Mortgage rates have been rising further this week because when unexpected things happen in financial markets, they’re likely to have a direct impact. Last Friday (23rd September), the Chancellor’s mini-budget unveiled the biggest tax cuts for 50 years, including a stamp duty cut for home-movers in England and Northern Ireland.

This has resulted in a lot of speculation about how these cuts might impact the UK’s finances. The value of the pound has seen record falls, which is likely to drive inflation up further. As a result, it’s widely believed that the Bank of England may need to raise interest rates faster and higher than previously forecasted. 

At the minute, there’s a suggestion from the financial markets that the bank base rate could rise to 5.8% by next spring. This has impacted the underlying costs of fixed-rate mortgages. This is why some lenders have repriced deals and others have temporarily removed some or all of their products. Some of the lenders who have withdrawn products are expected to return with new deals in the coming days and weeks.

How might increasing interest rates affect my mortgage?

If you’re a first-time buyer, moving home, or remortgaging, it’s likely you’ll be impacted by the changes. If you have a fixed-rate deal, the good news is that it will be business as usual, and your monthly repayments won’t change, at least until your current deal ends. 

If you don’t do anything, at the end of your deal you’ll automatically move on to the lender’s Standard Variable Rate (SVR). These rates tend to be higher than other mortgage rates and are generally changed to reflect movements in the Bank of England’s base rate. 

Take a look at how your repayments would change if you have a 25-year mortgage term and are looking at a fixed-rate for £200,000, based on rates increasing from between 2% to 6%. 

Fixed mortgage rate (£200,000 over 25 years) Monthly payments Increase in monthly payments
1% £754
2% £848 +£94
3% £948 +£194
4% £1,056 +£302
5% £1,169 +£415
6% £1,289 +£535


If you’re among the estimated 15% of borrowers with a variable or a tracker mortgage, your monthly outgoings will almost certainly go up. The interest rate paid on tracker mortgages is usually anchored against the bank base rate plus a set percentage. For example, the current base rate of 2.25%, plus 1%, would mean you’d be paying 3.25% interest right now. 

Can I still get a fixed-rate mortgage deal now?

Some lenders have withdrawn their fixed-rate products, while others have increased their prices in response to the rapidly changing costs of their funding. But it’s definitely worth finding out what your options are. 

If you’re on a tracker or a variable mortgage, you could shop around to see if you can find a cheaper option with a fixed-rate mortgage. However, you might have to pay an early repayment charge first. You could speak to a qualified mortgage broker or adviser if you’re unsure which options would be best for your individual circumstances. 

I’m on a fixed rate, what are my options when my deal ends?

If your fixed-rate deal is due to end within the next six months, you could see what your options are for locking in a deal now. 

Many lenders will allow existing customers to apply for new deals up to six months before their current rate ends without having to pay an early repayment charge. This is often called ‘product transfer’ or ‘switching’. This is a relatively easy process as you’re staying with your existing lender, so you won’t need a solicitor or a property valuation, and there’s no need to prove your income. 

If you’re looking to move lenders – whether you’re remortgaging or moving home – you may want to start well before your fixed-rate deal ends, as the application process can take several months or more. 

There is so much fluctuation in the mortgage market right now, you might want to look at what your lender has to offer or speak to a mortgage broker to find out which deals are available to you. 

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London’s prime bubble sees record sales in homes over £5 million

London’s prime bubble sees record sales in homes over £5 million

London’s prime bubble sees record sales in homes over £5 million

Almost £3 billion was spent on £5 million-plus properties in the first half of 2022 as prime central London retains reputation as a ‘safe haven’ for foreign buyers

Mega-mansions are flying off the shelves in the top end of London’s property market with a record 294 homes in the £5 million plus bracket changing hands in the past six months.

Almost £3 billion has been spent on luxury property costing £5 million or more so far in 2022 according to research by agent Savills, the highest ever recorded.

Over half the sales in traditional super prime hotspots like Knightsbridge, Chelsea and Belgravia.

At 294, the number of homes sold in the first half of this year is almost as high as the total seen across 2019 as a whole (308 homes), the last period unaffected by the pandemic. It is even higher than in the bounce-back years following the 2008 financial crisis. There was also an increase in homes selling for more than £10 million, with 89 £10 million-plus sales completed in the first half of 2022, a 41 per cent increase on the first half of last year and 94 per cent increase on 2020.

A separate report from LonRes recorded super luxury sales including a 12-bedroom mansion on Belgrave Square near Harrods which sold for £90 million, and a property on The Boltons in Chelsea which sold for £42 million.

However, prices in prime London areas are still 17.6 per cent below their 2014 peak. Since then, the top end of the market has faced setbacks ranging from Brexit to tax changes and most recently the pandemic which has kept foreign buyers away. Many Asian buyers, particularly those from China and Hong Kong, were reluctant to visit London because of onerous Covid restrictions when they returned home while Russian buyers have also completely dried up since the start of the war in Ukraine.

This means wealthy Britain-based buyers continue to dominate the market’s top-end. With less reliance on the need to borrow money, this group remains relatively unaffected by the issues in the mass market such as rising interest rates and the cost of living crisis. A combination of these factors, plus the looming threat of a recession, means some experts have predicted house prices in the mainstream market will cool towards the end of the year.

Alex Christian, London director at Savills Private Office, said some foreign investors were starting to re-emerge in the prime London market, especially Asian buyers.

“London still looks like good value in a historical context, with prices well below the 2014 peak, and the pound remains weak against the American, Singapore, and Hong Kong dollar, as well as the Chinese Yuan, meaning that London property is looking like an increasingly good investment opportunity to buyers in these markets.”

He added: “Above all, prime central London’s reputation as a safe haven for international investment remains, and it is also seen as a secure bet to hedge against inflation.”

Alex Woodleigh Smith, managing director of Knightsbridge buying agency AWS Prime said the sector was seeing a correction in the value of prime central London property following the sharp decline experienced between 2015 and 2022, coupled with an ongoing shortage of stock.

“Add to this, a reinvigorated pool of domestic buyers and the re-emergence of international buyers fighting over limited supply and it is easy to see why scarcely available properties in the best addresses in London have become so irresistible. As a result, our summer has been anything but quiet”.

There has been a distinct increase in confidence in the prime London property market, which is resulting in more interest and an broad cross-section of investors from around the world investing in London.

Antony Antoniou, director of Trellows Luxury Homes said:

“As a major brand in the luxury market, we have noticed a significant increase in interest in the prime London market, with many of our most sought-after properties selling off-market, or before they even hit the market.”

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A tour of one of the most expensive houses on the market in Northampton

A tour of one of the most expensive houses on the market in Northampton


A beautiful home in backing on to open countryside


Beautiful Home: Rear view

Beautiful Home: Front view

Beautiful Home: Rear

Beautiful Home: Entrance hall

Beautiful Home: Kitchen

Beautiful Home: Kitchen

Beautiful Home: Kitchen

Beautiful Home: Lounge

Beautiful Home: Dining room

Beautiful Home: Dining room

Beautiful Home: Bathroom

Beautiful Home: Bathroom

Beautiful Home: Bedroom with Velux window

Beautiful Home: Bedroom with Velux window

Beautiful Home: Bedroom

Beautiful Home: Bedroom

Beautiful Home: Bedroom

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views

Beautiful Home: Stunning garden with open views


Full description


Bramhills occupies an attractive position in this most sought after location with glorious gardens and grounds extending to around 0.94 acres enjoying a westerly aspect adjoining fields with fabulous views over towards Harlestone Firs. It offers a unique opportunity for an individual to remodel or replace the existing property in arguably one of the sought-after and desirable villages in Northamptonshire.

The property is approached through a main door into the hall, having a solid oak staircase rising and turning to the first floor landing with cupboard below and original solid oak flooring. Off the hallway is the cloakroom with separate WC. The sitting room is of a dual aspect with an open brick fireplace, set in a tiled brick hearth with wooden mantel above, door to the rear garden terrace and original solid oak flooring. Access from here leads to the dining room with walk-in bay window to the rear aspect enjoying views of the garden, solid oak flooring and open access leading to the kitchen/breakfast room.

The kitchen/breakfast room comprises a generous range of fitted base and eye level units incorporating display shelving with recessed lighting, generous worktop areas with inset sink unit with feature electric four ring Aga with double oven and electric companion to side. Further features include recessed lighting to ceiling, bamboo flooring and windows to the front and rear aspect. A door from here leads to the inner lobby with a secondary entrance to the front and a further door that leads to the study/bedroom with double doors affording access to the paved terrace and garden beyond and access to its own en-suite wet room. Off the inner lobby is the useful utility room which is fitted with a range of base and eye level cupboards with door to the rear gardens and connecting door to the garage.

On the first floor there is a spacious landing with stairs rising to the second floor with storage cupboard. The main bedroom has windows to the rear aspect affording attractive views over formal gardens and countryside beyond with further window to the side aspect and a range of built-in wardrobes and access to the refitted en-suite bathroom. A generous second bedroom with a range of built-in wardrobes, again with a window to the rear aspect enjoying the views across the countryside with access to its own en-suite shower room. There is a further double bedroom with dressing area and a family bathroom.

On the second floor is a small landing area with access to two double bedrooms, both with Velux skylight windows, one of which has its own cloakroom with access to eaves storage areas.


Bramhills is approached by a gravelled in and out driveway with lawned areas, flower and shrub borders and maturing trees and outside lighting. Access to the rear garden is through a five bar side gate and there is hard standing next to a double attached garage having light and power with electric roller doors.

The whole plot extends to 0.94 acres and is attractively landscaped with the formal gardens largely laid to lawn with flower and shrub borders, retained by hedges and conifers with an attractive fixed pergola structure in the centre of the garden perfect for those BBQ’s on a sunny lazy afternoon. There is a large kitchen garden along with small orchard to the side having apple specimens and a number of outbuildings including a greenhouse. The well established and landscaped gardens are an attractive feature to the property adjoining fields having a south westerly aspect with views over to Harlestone Firs.


Services: Mains gas, electricity and metered water are connected. Boiler is gas fired served by a Megaflow hot water storage system.

Local Authority: West Northamptonshire Council

Outgoings: Council Tax Band “G”
£3,352.70 for the year 2022/2023

EPC Rating: E

Tenure: Freehold

Offers in excess of £1,800,000

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London market benefiting from frozen Russian property sales

London market benefiting from frozen Russian property sales

London market benefiting from frozen Russian property sales

Sanctions against Russians slow down supply of high-end property in London

The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain, adding to a shortage of supply that has helped drive up house prices in prime locations, real estate sources say.

Russian oligarchs, Middle Eastern oil barons and billionaire Chinese entrepreneurs have been on a spending spree on London real estate over the past three decades, snapping up trophy homes and high-end commercial property.

But the four-month-old invasion of Ukraine, which Russia calls a special military operation, has prompted Britain to slap sanctions on more than 1,100 Russians it says have ties to the Kremlin, spreading unease and freezing house sales in so-called Londongrad, agents say.

“There have definitely been a number of transactions that have not gone through, two in excess of 40 million pounds ($49 million),” said Charlie Willis, CEO of property broker The London Broker, adding that in both cases, the buyers were advised not to proceed “just because the seller was originally Russian”. He declined to give further details.


A widespread shortage of available properties has pushed up prime London prices by 4.7% since the invasion, according to agents Benham & Reeves, although prices in Belgravia and Knightsbridge – popular locations for Russians – have climbed slightly less, at 3.3%.

“The market’s being fuelled by a lack of supply,” said Geoff Garrett, director at mortgage broker Henry Dannell.

The number of prime central London residential sales was down 30% between March and May compared with last year, though still up on pre-pandemic levels, according to property data firm LonRes.

Estate agent Aston Chase estimates there are over 150,000 Russians living in London who between them own eight billion pounds of real estate assets, businesses, and other investments in Britain.

But Mark Pollack, Aston Chase’s co-founder, says wealthy Russians are increasingly cautious about being caught up in the web of sanctions.

“Russians aren’t buying (in the same way) and they are not selling, not necessarily because they don’t want to in some instances, but because they probably can’t or it might be sensible to hope the … dust settles,” he said.

Britain in February scrapped its so-called “golden visas” for wealthy investors and last month announced plans for a new economic crime bill, intended in part to identify the owners of property in Britain and combat illicit finance, although critics say loopholes remain.

Henry Sherwood, managing director of The Buying Agents, which focuses on properties starting at around five million pounds, said the crack down had helped dash hopes the war and sanctions might lead to a flurry of cut-price Russian sales.

At the beginning of the war, “we had people ringing up saying: ‘Have you got any Russians selling?’,” he said.

But he added: “The more discreet don’t want to have anything to do with them. Our buyers don’t want to be associated with firesales – they don’t want to get into a transaction that will never happen.”

One unsanctioned Russian failed to secure three lawyers before finding one willing to help him sell an expensive London property, a senior executive at a property development firm on the other side of the deal told Reuters.

Russian tenants including students are also finding it hard to transfer funds due to sanctions, forcing them to withdraw from the market in London, said Marc von Grundherr, director at Benham & Reeves.

Unprecedented Western sanctions on Moscow, the withdrawal from Russia of scores of Western companies and pressure on London’s advisory companies to cut links with Russian clients have driven some Russian buyers to friendlier property hotspots such as Dubai or Istanbul.

One Russian client, Pollack said, had pulled out of buying an 18 million pound London apartment when Russian tanks rolled into Ukraine in February because they were nervous about the political rhetoric in Britain. They still want a London home, but have halved their budget, he said.

But buyers from other regions are helping to keep the London market buoyant.

International buyers have accounted for at least a third of property purchases in prime central London locations in every quarter between 2011 and 2019, according to data from Statista.

Vic Chhabria, managing director at agent London Real Estate Office, which specialises in new constructions as well as high-rise condominiums and luxury homes, said his appointment diary was full, with most interest from buyers in Singapore, Hong Kong and Mumbai willing to spend between two and 20 million pounds.

A prolonged war, tighter regulation, rising interest rates, raging inflation and brutal stock market drops could yet take the heat out of some of that growth, agents added.

“The property market has been flying over the course of the last two to three years,” said Garrett. “All of these cycles have to slow.”

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A Fairer Private Rented Sector

A fairer private rented sector

A Fairer Private Rented Sector

Foreword from the Secretary of State


In the words of Michael Gove

Everyone has a right to a decent home. No one should be condemned to live in properties that are inadequately heated, unsafe, or unhealthy. Yet more than 2.8 million of our fellow citizens
are paying to live in homes that are not fit for the 21st century. Tackling this is critical to our mission to level up the country. The reality today is that far too many renters are living in damp, dangerous, cold homes, powerless to put things right, and with the threat of sudden eviction hanging over them. They’re often frightened to raise a complaint. If they do, there is no guarantee that they won’t be penalised for it, that their rent won’t shoot up as a result, or that they won’t be hit with a Section 21 notice asking them to leave. This Government is determined to tackle these injustices by offering a New Deal to those living in the Private Rented Sector; one with quality, affordability, and fairness at its heart. In our Levelling Up White Paper – published earlier this year – we set out a clear mission to halve the number of poor-quality homes by 2030. We committed to levelling up quality across the board in the Private Rented Sector and especially in those parts of the country with the highest proportion of poor, sub-standard housing – Yorkshire and the Humber, the West Midlands, and the North West. This White Paper – A Fairer Private Rented Sector – sets out how we intend to deliver on this mission, raising the bar on quality and making this New Deal a reality for renters everywhere. It underlines our commitment, through the Renters

The Bill also fulfils our manifesto commitment to replace Section 21 ‘no fault’ eviction notices with a modern tenancy system that gives renters peace of mind so they can confidently settle
down and make their house a home. These changes will be backed by a powerful new Ombudsman so that disputes between tenants and landlords can be settled quickly and cheaply, without going to court. This white paper also outlines a host of additional reforms to empower tenants so they can make informed choices, raise concerns and challenge unfair rent hikes without fear
of repercussion. Of course, we also want to support the vast majority of responsible landlords who provide quality homes to their tenants. That is one of the reasons why this White Paper sets out our commitment to strengthen the grounds for possession where there is good reason for the landlord to take the property back. Together, these reforms will help to ease the financial burden on renters, reducing moving costs and emergency repair bills. It will reset the tenant-landlord relationship by making sure that complaints are acted upon and resolved quickly. Most importantly, however, the reforms set out in this White Paper fulfil this Government’s pledge to level up the quality of housing in all parts of the country so that everyone can live somewhere which is decent, safe and secure – a place they’re truly proud to call home.

Executive summary

Everyone deserves a secure and decent home. Our society should prioritise this just like access to a good school or hospital. The role of the Private Rented Sector (PRS) has changed in recent decades, as the sector has doubled in size, with landlords and tenants becoming increasingly diverse. Today, the sector needs to serve renters looking for flexibility and people who need to move quickly to progress their careers, while providing stability and security for young families and older renters. It must also work for a wide range of landlords, from those with a single property through to those with large businesses. Most people want to buy their own home one day and we are firmly committed to helping Generation Rent to become Generation Buy. We must reduce financial insecurities that prevent renters progressing on the path to home ownership and, in the meantime, renters should have a positive housing experience.

This White Paper builds on the vision of the Levelling Up White Paper and sets out our plans to fundamentally reform the Private Rented Sector and level up housing quality. Most private landlords take their responsibilities seriously, provide housing of a reasonable standard, and treat their tenants fairly. However, it is wrong that, in the 21st century, a fifth of private tenants in England are spending a third of their income on housing that is non-decent. Category 1 hazards – those that present the highest risk of serious harm or death – exist in 12% of properties, posing an immediate risk to tenants’ health and safety. This means some 1.6 million people are living in dangerously low-quality homes, in a state of disrepair, with cold, damp, and mould, and without functioning bathrooms and kitchens. Yet private landlords who rent out non-decent properties will receive an estimated £3 billion from the state in housing related welfare. It is time that this ended for good. No one should pay to live in a non-decent home. Poor-quality housing is holding people back and preventing neighbourhoods from thriving. Damp, and cold homes can make people ill, and cause respiratory conditions. Children in cold homes are twice as likely to suffer from respiratory problems such as asthma and bronchitis. Homes that overheat in hot summers similarly affect people’s health. In the PRS alone, this costs the NHS around £340 million a year. Illness, caused or exacerbated by living in a non-decent home, makes it harder for children to engage and achieve well in school, and adults are less productive at work. There is geographical disparity with the highest rates of non-decent homes in Yorkshire and the Humber, the West Midlands and the North West. Visibly dilapidated houses undermine pride in place and create the conditions for crime, drug use, and antisocial behaviour. Too many tenants face a lack of security that hits aspiration and makes life harder for families. Paying rent is likely to be a tenant’s biggest monthly expense and private renters are frequently at the sharpest end of wider affordability pressures. Private renters spend an average of 31% of their household income on rent, more than social renters (27%) or homeowners with mortgages (18%),8 reducing the flexibility in their budgets to respond to other rising costs, such as energy.

Frequent home moves are expensive with moving costs of hundreds of pounds.9 This makes it harder for renters to save a deposit to buy their own home. Over a fifth (22%) of private renters who moved in 2019 to 2020 did not end their tenancy by choice, including 8% who were asked to leave by their landlord and a further 8% who left because their fixed term ended. The prospect of being evicted without reason at two months’ notice (so called ‘no fault’ Section 21 evictions) can leave tenants feeling anxious and reluctant to challenge poor practice. Families worry about moves that do not align to school terms, and tenants feel they cannot put down roots in their communities or hold down stable employment. Children in insecure housing experience worse educational outcomes, reduced levels of teacher commitment and more disrupted friendship groups, than other children.11 In 2019 to 2020, 22% of tenants who wished to complain to their landlord did not do so. In 2018, Citizens Advice found that if a tenant complained to their local council, they were five times more likely to be evicted using Section 21 than those who stayed silent.13 The existing system does not work for responsible landlords or communities either. We must support landlords to act efficiently to tackle antisocial behaviour or deliberate and persistent non-payment of rent, which can harm communities. Many landlords are trying to do the right thing but simply cannot access the information or support that they need to navigate the legal landscape, or they are frustrated by long delays in the courts. In addition, inadequate enforcement is allowing criminal landlords to thrive, causing misery for tenants, and
damaging the businesses and reputations of law-abiding landlords. Collectively, this adds up to a Private Rented Sector that offers the most expensive, least secure, and lowest quality housing to 4.4 million households, including 1.3 million households with children and 382,000 households over 65.14 This is driving unacceptable outcomes and holding back some of the most deprived parts of the country.

Our ambition

We are committed to delivering a fairer, more secure, and higher quality Private Rented
Sector. We believe:
1. All tenants should have access to a good quality, safe and secure home.
2. All tenants should be able to treat their house as their home and be empowered to challenge poor practice.
3. All landlords should have information on how to comply with their responsibilities and be able to repossess their properties when necessary.
4. Landlords and tenants should be supported by a system that enables effective resolution of issues.
5. Local councils should have strong and effective enforcement tools to crack down on poor practice.

What we have done

We have taken significant action over the past decade to improve private renting. In 2010, 1.4 million rented homes were non-decent, accounting for 37% of the total. This figure has fallen steadily to 1 million homes today (21% of the total).15 To improve safety standards, we have required landlords to provide smoke and carbon monoxide detectors as well as regular electrical safety checks. We supported the Homes (Fitness for Human Habitation) Act 2018, which means landlords must not let out homes with serious hazards that leave the dwelling unsuitable for occupation.
To help tenants and landlords in resolving disputes, we made it a requirement in 2014 for letting and managing agents to belong to a government-approved redress scheme. We have also given local councils stronger powers to take action against landlords who do not meet expected standards. We have introduced Banning Orders to drive criminal landlords out of the market, civil penalties of up to £30,000 as an alternative to prosecution, and a database of rogue landlords and agents. Over the last five years, we have awarded £6.7 million to over 180 local councils to boost their enforcement work and support innovation.
To reduce financial barriers to private renting, we have capped most tenancy deposits at five weeks’ rent and prevented landlords and agents from charging undue or excess letting fees. Between 2010-11 and 2020-21 the proportion of household income (including housing benefit) spent on rent by private renters reduced from 35% to 31%.16 We have taken additional steps to protect private tenants when exceptional circumstances required. During the Coronavirus pandemic our emergency measures helped tenants to remain in their homes by banning bailiff evictions, extending notice periods, and providing unprecedented financial aid. These measures worked. There was a reduction of over 40% in households owed a homelessness duty following the end of an Assured Shorthold Tenancy (AST) in 2020 to 2021 compared with 2019 to 2020,17 and repossessions by county court bailiffs between January and March 2022 were down 55% compared to the same quarter in 2019.


This is a very brave and necessary course of action, to deal with the housing crisis. Housing costs have risen exponentially, since the late 1990s, when the population began to grow rapidly due to migration. The true number of migrants in the UK is not known, but one thing is for certain, there are upwards of TEN MILLION more people in the UK today, than there were just a decade ago, probably much more, they all need to live somewhere and although this may be devastating to landlords who have worked hard to purchase property to secure themselves an income for the future, especially as many have been denied their anticipated income from pension funds that have been stagnant, the government does need to look at the bigger picture and act quickly, before this crisis evolves in to civil unrest.

Download the full White Paper HERE

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A proposal for an ethical way forward for the BTL market

A proposal for an ethical way forward for the BTL market

A proposal for an ethical way forward for the BTL market

Turning the buy to let market in its head


A recent article written by the director of Trellows, has had an incredible response, all of it positive. In the article. Antony Antoniou presents a proposal for an ethical way forward for the BTL market. Attempting to rectify the disaster, that the BTL market has become, will not be a quick fix, it will firstly require a U-turn on the way residential property is viewed in the UK. If we accept that homes are a fundamental right, we must also accept that everyone should have the opportunity to own their own home, or at the very least, have a home that they can build their lives around, without living in fear of their next section 21. There is also the moral issue, of those who are in a privileged position, with easier access to funds, being able to compete with first time buyers, for the same property, leaving the disadvantaged first time buyers unable to buy their own home and being left at the mercy of short term rentals, which the modern AST actually is. If a family move in to a property in January and take a couple of months to settle in, they are then literally just eight months away from their next section 21, this is not a situation that is acceptable in modern Britain.

We at Trellows, aim to lead by example, therefore we will now be operating to an ethical strategy, which will raise the standard of property, then offer these properties for long term rental to families, with leases of FIVE YEARS, plus an option to buy plus a contribution towards their deposit.

Here is an overview of our strategy:

The basis of our strategy is as follows:

  1. We will seek to find properties that are in a poor state of repair, un-mortgageable or those with an EPC rating that falls below par.
  2. We will completely renovate these properties, ensuring that they are brought up to top-spec, along with suitable insulation that will raise them above the impending minimum EPC level 3, although we will endeavour to exceed this where possible.
  3. We will offer the properties for rent on an Assured Shorthold Tenancy of FIVE YEARS, with a clear scale of rental increases, based on RPI, to ensure that everyone knows where they stand. This of course is dependant on securing a fixed five year term with the lenders, as we must know our outgoings, before we can commit to income.
  4. In month 53, the tenants will be offered the ‘Right-to-Buy’ the property at the median of three independent valuations, which they must accept by the end of month 54.
  5. We will offer to contribute 10% of the purchase price to the tenants by way of a gifted deposit, this will only be made available if they choose to exercise their ‘Right-to-Buy’ and will not be available for any other reason.
  6. The tenants must exchange before the end of month 59, with completion set any time after the end of month 60. This is to ensure that should the sale not proceed, we have time to prepare another fixed term, with the same option.
  7. We will pay for a financial adviser to give the tenants a ‘Financial Health Check’ early on in the tenancy and this adviser will be available at our expense, to advise them on how to prepare themselves financially, so that they will be able to purchase the property, should they wish.
  8. At the end of  the period, we will have brought a derelict property back in to use for a family, made that property available on a long-term AST, we will have achieved some capital growth and rental income for five years. Thereafter, we will re-invest the proceeds of the sale, in to another property, repeating the process.
  9. We would like to petition the Government to match our gifted deposit, by re-introducing ‘Help-to-Buy’ for resale property, which will leave the tenants only needing find 5% of the deposit, to qualify them for the best and cheapest mortgage deals. It is unfair, that those who are most in need, should be paying the most in interest.
  10. We aim to encourage our investors, partners and the industry as a whole to adopt this model, thereby creating an ethical property market, that will also be open to those in need.
  11. The UK housing stock is a national asset and our strategy is to encourage properties throughout the country to be renovated, insulated and rented on similar terms, this strategy could also be applied to new-build homes, where investors contribute to the build and subsequently rent the properties on similar terms, offer people a real and stable home to build a future.

We would like to encourage larger developers to follow suit and contribute towards changing the landscape of residential homes in the UK.

If you would like to get involved, please get in touch.

Read the full article by Antony Antoniou HERE

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Northampton property market update June 2022

Northampton property market update June 2022

House Prices in Northampton

Properties in Northampton had an overall average price of £271,525 over the last year.

The majority of sales in Northampton during the last year were terraced properties, selling for an average price of £226,847. Semi-detached properties sold for an average of £251,378, with detached properties fetching £392,135.

Overall, sold prices in Northampton over the last year were 4% up on the previous year and 14% up on the 2018 peak of £239,048.

Average Property Price









Northampton has a broad cross-section of property, with more a good supply of homes in the upper quartile. 

The market remains very strong and the figures clearly demonstrate that it continues to be a seller’s market. 

The most expensive property to have within the last year is still

5, Spyglass Hill, Northampton, Northamptonshire NN4 0US

Spyglass Hill 01
Spyglass Hill 02
Spyglass Hill 03
Spyglass Hill 04
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Property 115% more likely to sell in April

Property 115% more likely to sell in April

The chance of a vendor selling a property is at its highest level for a decade, research claims.

The continuing imbalance between supply and demand meant that properties sold faster and more easily in April.

Propertymark’s latest member data showed that while the average percentage of stock sold in April over the past 10 years is 20%, it hit 43% this year – a 115% rise.

The trade body’s Housing Market Report found there were nine sales agreed on average per member branch in April compared to the December low of only five.

This figure is lower than the peak of 14 sales per branch during the stamp duty holiday of 2020–21.

However, Propertymark said it is in line with the long-term average for April of eight sales per member branch.

The average number of properties for sale per member branch remained low in April at 20, while demand remained high at 100 house hunters per branch.

This contributed to 39% of respondents stating that most sales agreed in April were above asking price, according to the report.

Nathan Emerson, chief executive of Propertymark, said: “With fewer properties available to buy, it wouldn’t be illogical to assume that estate agents would be witnessing less sales being agreed.

“However, the number of sales agreed remains steady when compared with long term trends and agents report that sellers were 115% more likely to sell their home in April.

“This is due to the desire to buy a home remaining strong, and although the heights of prices being achieved may well start to cool, this trend is unlikely to change by a great deal.”

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Northampton property updates proposals to cut stamp duty

Stamp Duty Tax Trellows Estate Agents Northampton

Northampton property updates proposals to cut stamp duty


There is growing speculation that the government is planning to encourage pensioners to downsize by offering a stamp duty tax break. The move would be a welcome one, according to the National Association of Property Buyers (NAPB) as it would potentially increase the supply of larger properties coming onto them market. It is estimated that almost four in ten properties are officially ‘under-occupied’, meaning they have too many bedrooms for those living there, and could be more effectively used by families with children.

Jonathan Rolande, from the National Association of Property Buyers (NAPB), said: “We’d welcome a stamp duty cut for pensioners selling their own home to downsize. It would allow them to move without the penalty of high SDLT and would certainly encourage more to do so.

“Currently a pensioner selling a family home at £700,000 to buy at £500,000 would face a £15,000 stamp duty bill and with other costs such as estate agent and solicitors a move downward is going to cost them nearly £30,000 – a figure many simply cannot bring themselves to pay when leaving a much loved family home.

“Government receipts from stamp duty have more than doubled in the last ten years so there is certainly capacity to offer targeted reductions to help free up stock.”

Buy-to-let landlords could also be given incentives, such as lower capital gains tax, to sell their second homes to first-time buyers. But Rolande fears that this measure could backfire. He added: “We strongly disagree with any plan to reduce taxes for landlords who sell to first time buyers,” he added.

“The last thing we need right now is fewer properties to let, penalising those not in a position to buy their home. If tax breaks for wealthy landlords are on the table, why not use them to incentivise those who let their property on longer term agreements, giving more security to hard pressed tenants?

“We’re very glad that the government is looking at measures to repair parts of the broken property market but I am fearful that ill-considered action to solve one problem here will create another issue elsewhere.”


The government needs to seriously consider its position on Stamp Duty. As house prices have risen, more and more properties have approached the higher Stamp Duty rates, creating a glass ceiling, that is discouraging people from moving upwards. People in the UK are used to moving home, to move upwards, outwards or near to another job, but the punitive rates are punishing those who by moving are contributing the economy in a very significant manner.

The volume of property for sale is at an all time low, onw of the factors contributing to this is that as the chain of sales has worked its way upwards, there comes a point where it is just too uneconomical for people to move upwards, which would make their home available for those lower down the ladder to also move. The exchequer is collecting less tax from the top 5% of properties today, than before they increased the rates, making their logic unclear.

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House prices still rising but that could change soon

House prices still rising but that could change soon

The current climate could be short lived

House price growth hit a five-month high in February, according to Land Registry data but there are warnings that this will be short-lived. The Land Registry’s latest House Price Index shows UK property values rose 10.9% annually in February 2022.

That is the highest growth figure since September 2021, which coincided with the end of the stamp duty holiday on purchases up to £250,000.

This puts the average UK property price at £276,755. Annual house price growth was strongest in Wales where prices increased by 14.2% in the year to February 2022.

The lowest annual growth was in London, where prices increased by 8.1% in the year to February 2022.

Overall, UK prices were up just 0.5% on a monthly basis though, which may reflect recent warns that growth is set to slow. Other data revealed in the index for December 2021 also showed a sharp drop in transactions.  UK volume transactions decreased by 47.1% in the year to December 2021, according to Land Registry figures.

Sales in England decreased by 52.5% annually in England, by 18.1% in Scotland, 47.3% in Wales and by 16.9% in Northern Ireland.

“Soaring inflation, the rising cost of living, high energy bills and a lack of support from the government at last month’s Spring Statement mean many people are feeling the squeeze financially. The recent introduction of the new energy price cap and the national insurance increase has further heightened the pressure.

“With wages failing to keep up, the increased costs of moving home will likely put off prospective buyers and taking a first step onto the property ladder will be pushed out of reach for many. As a result, we could see house prices dip over the coming months.

“While house prices have remained robust for the time being, how the housing market truly reacts to the current circumstances is yet to be seen. However, it is unlikely that house prices will be able to continue rising at the same rate seen in recent times – particularly against the backdrop of an economy already trying to recover from the impact of the pandemic.

“If a slowdown does begin to materialise, a gradual fall in house prices is expected as opposed to a sudden drop. At present, there remains too much demand and too little stock, so house prices will likely remain high for some time yet.”

“The level of housing supply is 32% lower than before the pandemic and demand is up 134%.

“These latest figures suggest that the market continues to remain extremely competitive but the cost of living crisis may be a key contributor preventing home buyers and sellers coming onto the market due to financial uncertainty.

“However, slight growth in the number of properties coming to the market is being seen which is a positive shift in the right direction as a closing in the gap of supply and demand will enable house prices to start to stabilise.”

“These numbers show house prices continuing on their apparently inexorable upward path but that’s not quite what’s happening on the ground now.

“Demand is still well ahead of supply but concerns about the rising cost of living, squeezed pay packets and potentially further interest rate rises, are reducing price growth and transaction numbers.

“Looking forward, we expect activity to return to more ‘normal’ pre-pandemic conditions as supply picks up as part of the usual spring bounce.”

Whilst it is inevitable that the current growth cannot be sustained, the effect of debt erosion by inflation, combined with unprecedented demand, should prevent a drastic fall, but growth will certainly slow down towards the end of the year. It is vital that measures are taken to ensure that is is gradual slow-down and not a hard bump, otherwise we could experience a loss of confidence in the market not experienced since the early ninteies.