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Viewing entries posted in 2021

Houses selling above asking price hits record high

Posted by MMB Finance Swindon and Gloucester on 26 July 2021

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In June, 40% of properties sold for more than the original asking price, the highest figure on record for the third consecutive month, according to the latest research from NAEA. This is a jump from May when 33% of properties sold for more than the original asking price, beating last month’s previous all-time record.

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Owners of flats won’t need a wall safety certificate

Posted by MMB Finance Swindon and Gloucester on 22 July 2021

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Ministers have sought to ease the difficulties of thousands of owners of flats trapped in properties they cannot sell or remortgage by changing advice on fire safety paperwork on lower-rise blocks, a requirement introduced after the Grenfell tower blaze.

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Residential transactions rise 216% to record high in June: HMRC

Posted by MMB Finance Swindon and Gloucester on 21 July 2021

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The number of UK residential transactions totalled 213,120 in June, 216.1% higher than June 2020 and 108.5% higher than May 2021, according to the latest statistics from HMRC. The figure is the highest monthly UK total since the introduction of HMRC's statistics in April 2005. On a seasonally adjusted basis, transactions totalled 198,240, 219.1% higher than June 2020 and 74.1% higher than May 2021.

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Rising inflation could bring monetary policy tightening

Posted by MMB Finance Swindon and Gloucester on 16 July 2021

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One of the Bank of England's Monetary Policy Committee members has warned that rising inflation could lead to a 'sooner than expected' tightening of monetary policy. During a speech yesterday, Dave Ramsden, who is also the Bank of England's deputy governor for markets and banking, said that CPI inflation and GDP growth had become "notably stronger than expected" in the Bank's May forecast.

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Mortgages refused for self-employed who took Covid grants

Posted by MMB Finance Swindon and Gloucester on 15 July 2021

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Some of Britain's biggest high street banks are refusing to give mortgages to self-employed people who received government grants during the pandemic. People working in sectors like entertainment, hospitality and travel are the worst affected. Many lenders have taken the decision to decline applications on the basis that people have taken financial assistance as banks often see people who have received Covid-related grants as high risk.

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