Posts by Bradley
Fairness Returns as Holiday Let Tax Breaks Scrapped: Impacts on the West Midlands and Worcestershire
In a move that aims to restore balance in the housing market, HM Revenue and Customs (HMRC) is set to abolish tax breaks for Furnished Holiday Lets (FHLs) from April 2025. This decision is expected to generate an additional £35 million for the exchequer in its first year, marking a significant shift in the government’s…
Read MoreDiversity of PRS Revealed in National Housing Survey: Insights from the West Midlands and Worcestershire
The landscape of the Private Rented Sector (PRS) across England has been brought into sharp focus by the detailed reports from the 2022-23 English Housing Survey, released on 18 July 2024. This data offers a timely snapshot as the UK Government prepares to introduce the new Renters’ Rights Bill to Parliament in Autumn 2024, a…
Read MoreSignificant Drop in New UK Buy-to-Let Mortgages: Sector Experiences First Contraction in Decades
The UK buy-to-let mortgage market has experienced a sharp decline, with the number of new mortgages granted by lenders more than halving in just over a year. This marks the first contraction in the sector since its inception in 1996. Market Dynamics and Financial Pressures Recent data from UK Finance highlights the substantial impact of…
Read MorePhase Two of the Home Upgrade Grant (HUG2) in Kidderminster
The Home Upgrade Grant (HUG2) is a UK Government-funded scheme for properties in England not connected to the gas grid. Local Authorities have been allocated £630 million to provide energy-efficient upgrades and low carbon heating to eligible households from April 2023 to March 2025. Tackling Fuel Poverty The HUG2 scheme targets both owner-occupiers and landlords…
Read More99% Mortgages May Inflate House Prices in Kidderminster Unless Supply Increases
Reports from The Independent suggest the UK Government is considering a 1% deposit mortgage scheme in the March 2024 Budget. While this may help those struggling to buy homes, the housing sector warns of potential price increases if more stock is not made available. Housing Plan Needs Progress A July 2023 report by the Commons…
Read MoreLabour pledges fast action to make renters better off
On 20 June 2024, Angela Rayner MP, Labour’s Shadow Housing Secretary, will outline plans to improve renters’ lives if they win the General Election. Shadow Chancellor Rachel Reeves MP will pledge to reduce cost-of-living pressures on private sector tenants by cracking down on unscrupulous landlords, banning no-fault evictions, and capping upfront rent costs. Labour will…
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