Real Estate News Roundup - October 2021

Posted Friday 29th October 2021

Budget Reaction: What is The Chancellor’s impact on the property market?

What does The Chancellor’s recent budget announcement mean for the property market? From a new £4.8bn uplift in local authority funding to a new tranche of investment into brownfield land development, how is the property market reacting? Nearly a third of all landlords in the UK have agreed some form of rent reduction through the pandemic, according to The National Landlord Index. Of those surveyed, over 16% of landlords currently have some form of historic rental debt due to them.

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Joelson will be at the FP Show 2021

On 10th November we will be exhibiting at the Finance Professional Show 2021. The show is a one-day event for funders and providers of financial solutions, held at Olympia London. Come and find us at stand B11.

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Cladding remediation tax to be levied at 4%

Rishi Sunak has revealed that the tax will be levied on developers with profit over £25m and is to be set at four per cent. The tax will raise £2bn in funds over the course of the next ten years to support remediation work required across the UK.

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UK banks unwilling to finance retail portfolios

Portfolios that are weighted towards retail are being refused financing by traditional banks, according to Property Week. As the high-street continues to struggle following the pandemic, lenders are becoming increasingly cautious when financing retail portfolios.

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Bellway set for first modular homes project

Property developer, Bellway, has announced it will build its first modular homes under a pilot project in Milton Keynes. The project will provide Homes England with data that will be analysed to determine how modern methods can be used more widely.

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LandTech secures new funding to support developers

LandTech, the proptech company that assists developers with purchasing land has secured £43m in funding. The company provides developers with data on pricing, planning consent and building costs. The funding will allow the company to increase its product offering while also expanding into new locations.

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Goodlord makes its second acquisition with fintech firm acasa

The lettings technology platform, Goodlord, has diversified its service offering by acquiring acasa, an app that allows household bills to be split easily across housemates. The acquisition moves Goodlord a step closer towards its goal of offering a market-leading, end-to-end solution for letting agents.

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This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.

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