Weekly Summary 31st July 2020
The end of July 2020! What a month …open up… lock down… back to normal… not back to normal… SDLT cut… extra £1000 for employers not making staff redundant… BTL mortgages available again… but no relief for the 3% levy on SDLT… very difficult to find the right message at the moment… but we battle on
Tough Times for all industries and in our sector a number of businesses simply will not survive
We are determined to be one of those businesses that adapts to the new normal and can flourish, but this is tough and we have had to ask Clients to ride the storm with us… thank you to those that have… as the government support comes to an end, it is yet to be seen if there is a black hole or a bright light!
Rents set to slide as tenant demand dries up, RICS survey finds
On Commercial and Retail…. Not a great time for the Landlords of office blocks and shops as businesses downsize in space to manage overheads and shops struggle to bring shoppers back to the high street in their masks
Landlords have a SDLT cut, better mortgage deals but are warned about the risk on Tenant payments
A few landlord comments with relevance in here… does show that to benefit from the SDLT you have to be over the £125k level on purchase, but is not stopping Landlords heading to the north particularly for refurbishment offers
What kind of advice are tenants receiving regards a Section 21 ‘no fault’ eviction.. OR.. a Section 8 for Arrears or breach of Tenancy
As we come to the end of Rent Adjustments and jobs are at risks… the tenant has lots of access to ‘advice’…. Property Managers and Landlords, must stay on top of this advice in order to prepare more completely… if either type of notice is served
