Docklands News

The Financial Conduct Authority (FCA) has launched a consultation on a potential overhaul of mortgage issuance and advice rules. The regulator said it wants to make it "easier, faster and cheaper for borrowers to make changes to their mortgage." Under the proposals, some homeowners could find it easier to lower the total cost of their borrowing by reducing their mortgage term. Emad Aladhal, the FCA’s director of retail banking, has called on the industry to take up “the gauntlet of innovation” and use improved flexibility "to make meaningful progress.” He suggested that lenders, developers, regulators and the government have a collective responsibility to address the "structural challenges facing the UK’s current housing market."

City AM (08/05/2025)  

An iconic London double-decker bus has been transformed into a £50k two-bedroom apartment, described as "the most beautiful bus conversion in the world." The conversion includes a master bedroom, children's bunk room, luxury kitchen, and stylish lounge area, with the engine bay repurposed for storage. Owner Dan Atkins has listed the 1998 diesel bus on eBay, with proceeds benefiting his charity Solutions4Living, which aids those facing homelessness. The listing notes that the engine has been removed, making it suitable for permanent placement in holiday parks or glamping sites. 

The Independent UK (04/05/2025)  

House prices in the UK fell by 0.6% in April, according to Nationwide, marking the largest monthly decline since August 2023, as the rush to take advantage of the stamp duty relief ended. The average home now costs £270,752, with annual growth slowing to 3.4% from 3.9% in March. Robert Gardner, Nationwide's chief economist, commented: "The softening in house price growth was to be expected," following changes to stamp duty that now require first-time buyers to pay on properties over £300,000. Despite the current market softness, Gardner anticipates a gradual increase in activity as the summer approaches, supported by favourable conditions for potential buyers. 

BBC News (30/04/2025)   City AM (30/04/2025)   The Daily Telegraph (30/04/2025)   The Standard (30/04/2025)  

Of the 10 hardest postcodes to sell a house in, eight are in London, according to property analytics firm TwentyCi. Regionally, the South East edges London as the toughest to sell a house in, while Scotland ranked as the easiest. The firm used five criteria to rank how difficult it was to sell a property, such as the final sale price compared with the original asking price, how likely properties were to sell, and how quickly they sold.

The Daily Telegraph (01/05/2025)  

The number of new homes being built in London has fallen to its lowest level since 2009, with only 1,210 new starts recorded in the first quarter of 2024. Industry leaders cite post-Grenfell cladding and fire safety regulations, overseen by the under-resourced Building Safety Regulator (BSR), for causing major delays for housebuilders. London is now on track to deliver just 5.5% of the government's 2025 housing target. Without urgent reform to the regulator's processes, construction of high-rise buildings critical to the capital’s growth could grind to a halt. One industry source said: "We are now firmly into existential crisis territory on building safety regulator performance and impact on the housing sector". A BSR spokeswoman commented: "BSR has had to reject around 70% of applications as they don’t contain the information that’s required by law and/or they don’t demonstrate compliance with building regulations".

The Sunday Times (27/04/2025)