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Black & White Bridging has provided a £2 million bridging finance facility for the conversion of a former Cheshire public house into a holiday let property. The transaction involved refinancing existing debt and releasing additional capital to complete the development.
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Close Brothers Property Finance has provided a £20 million revolving credit facility to housebuilder gs8 for the development of 52 homes in Radlett, Hertfordshire. The scheme carries a gross development value of £47 million and includes a zero energy bills guarantee.
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Homebuyers in the UK could reduce property costs by up to 47% by purchasing in postcodes adjacent to the country's most expensive areas, according to research from Lloyds Bank. The study found that homes in neighbouring areas cost 28% less on average nationally.
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The Bank of England is anticipated to maintain interest rates at 3.75% when the Monetary Policy Committee announces its decision on Thursday, though geopolitical tensions are introducing fresh uncertainty. Most economists predict a 7-2 vote split in favour of holding rates, following June inflation data showing CPI at 2.6%, its lowest level for 15 months.
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The property industry lacks independent data on out-of-hours enquiries, with widely cited figures ranging from 26% to 91% based on suppliers' own datasets. Analysis reveals commonly quoted portal statistics are misinterpreted, whilst independent research shows peak enquiry activity occurs at 8:48pm, creating a mismatch with agent availability.
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