This week’s headlines: 700 ex-rental homes are being sold every day and Mortgages could rise by more than £3,000 a year due to Trumpflation.
Check out these and other industry updates below:
700 rental homes are sold every day
Research by Savills shows that around 700 ex-rental homes are being listed for sale each day across Great Britain, reflecting the growing pressure on homebuyers to accommodate rising regulations, mortgage costs and the Tenants’ Rights Act.
The trend is particularly strong in London, although some properties are still returning to the rental market under new landlord ownership rather than leaving the sector altogether.
IL&C Mortgages is introducing a new logo and brand identity
IL&C Mortgages has launched a new brand identity aimed at making the broker more visible and trustworthy to home buyers.
As part of the rebrand, it has introduced a new character called Lucy to guide customers through the mortgage process, with the company saying the changes reflect its focus on friendly, professional advice in a growing market.
Home mortgages could rise by more than £3,000 a year as a result of Trumpflation
New analysis from Moneyfacts suggests that homeowners could face rising mortgage bills of more than £3,000 a year if inflation rises due to ongoing global conflicts and rising energy prices.
A worst-case scenario for the Bank of England could see interest rates rise sharply, making mortgage payments much higher and putting more pressure on borrowers’ solvency.
Tandem appoints Walters as head of sales and distribution as Brooks announces retirement
Tandem Bank’s director of second-rate retail, Nigel Brookes, has taken early retirement after more than 10 years with the business, where he helped grow the second-rate offering and launch Tandem Connect.
Laura Walters, who has worked with the bank for 13 years, has been promoted to head of sales and distribution as Tandem looks to continue its growth in the growing secondary market.
Market Harborough is expanding its mortgage team with two specialist BDMs
Market Harborough Building Society has strengthened its mortgage team with the appointment of two specialist business development managers, Victoria Taricska and Parveen Kumari-Reynolds.
The company said the hires are supporting its continued growth and growing demand for specialist loans, particularly following the move to the Scottish market.
Renting is now cheaper than buying, says Rightmove
Rightmove says renting will become cheaper than buying for the first time from June 2025, as rising mortgage rates push average monthly payments above rental costs across Great Britain.
While buying is still more affordable in places like Scotland and the North East, high house prices in London and the South East continue to make home ownership more expensive than renting.
Skip the number of real estate agents seeking qualifications before the changes
The number of estate agents and sales agents seeking tertiary qualifications has risen sharply, with Rightmove property test bookings up 128% year-on-year ahead of possible government changes making qualifications compulsory.
Industry bodies say the growing demand reflects rising consumer expectations and a wider drive to improve professionalism and trust across the property sector.
Home owners and second home buyers who call for stamp duty receipts
Paragon analysis shows that second home purchases and buy-to-let now generate the majority of stamp duty receipts in more than half of English local authorities, despite higher tax rates introduced to curb demand.
The data suggests that landlord activity has shifted to cheaper areas in the north, with growing concerns that this could lead to uneven investment, housing shortages and rising rents in other parts of the country.
84% of homeowners still answer profit: The foundation
Recent research from the Foundation suggests that most landlords remain profitable, with an 84% reporting profit and an average rental yield rising to 6.5%, despite ongoing cost and regulatory pressures.
Although confidence appears to be stabilizing and landlords are increasingly planning for management and portfolio growth, the sector still faces challenges such as downtime, arrears, and a significant number of landlords considering selling properties.
Dimension raises rates by up to 15bps as priced by Vida and Rely
Lenders continue to adjust prices in a volatile mortgage market, with Principality Building Society set to raise rates by up to 15 basis points across its shopping, holiday home and residential segments.
At the same time, Rely and Vida temporarily withdrew products to reprice, while Halifax and BM Solutions recently reduced prices, highlighting the continued uncertainty and general volatility in commodity price conditions.
