South Lanarkshire College goes low-carbon with NIBE Published: 13 May, 2016 A newly opened, zero-energy teaching block at South Lanarkshire College in Scotland has been fitted with a ground source heat pump system from NIBE – helping it become the first building in the UK to achieve a BREEAM sustainability
First time buyer numbers in the UK remain 2.2 million behind where they should be given demographic trends despite significant government investment in home ownership, according to a new report. The report from the Intermediary Mortgage Lenders Association (IMLS) suggests that it means that current policy behind interventions in the
Property in south Florida continues to be popular with buyers from South America topping the list for people from overseas searching for real estate, the latest research shows. Colombia has been the top country of origin for five months in a row and four out of the top five countries
Skipton reduces fixed rate residential range Skipton Building Society has announced today that it is reducing its 2 and 5 Year Fixed Rate residential mortgages with rates lowered by up to 0.38% – an average of 0.20% in rate reductions across the range. Purchase products include 2 year fixes at
Harworth Group plc is known for property development and investment. The company has revealed that they have purchased two strategic land sites in the Midlands that will be beneficial to the expansion of their strategic land bank. The two sites have both been purchased using a part of the £27.1
Transport Scotland has released a tender for the £30 million project to construct the Maybole bypass. The organisation is looking for bidders that will contracted to carry out the construction work of approximately 5.2 km of the new bypass and any associated junctions. When the planned bypass has been completed
Willmott Dixon, the leading independent supplier of construction and property services in the UK is targeting a pipeline that has been valued at £100 million. The construction pipeline consists of orders that will be complete using their pre-designed school system, which is called Sunesis. Willmott Dixon has announced this ambitious
Mick George are diversifying and will be looking to offer vehicle purchasing and leasing services. Construction companies are not necessarily the first companies to look at when exploring the idea of purchasing or hiring vehicles. However, it is worth considering that companies in this industry are able to efficiently operate
Herefordshire Council is advertising for a development partner for major housing development plans. The county council is planning to form a joint venture company with a private sector partner that over the next 20 years could deliver as much as £1bn of construction work, according to its most optimistic estimates
According to the latest report from CML, repossessions in Q1 this year fell to 2,100 (1,500 home-owner, 600 buy-to-let), meaning that the repossession rate is the lowest on record. If this rate continued through 2016, it would put the annual number of repossessions at 8,400, lower than any year since
South Lanarkshire College goes low-carbon with NIBE Published: 13 May, 2016 A newly opened, zero-energy teaching block at South Lanarkshire College in Scotland has been fitted with a ground source heat pump system from NIBE – helping it become the first building in the UK to achieve a BREEAM sustainability rating of ‘outstanding’. Situated on the college’s East Kilbride campus, the building has been specifically designed with environmental credentials in mind. Its efficiency-enhancing measures include insulated floors, walls and roofs, triple-glazed windows, low-energy lighting and electrics, rainwater harvesting and solar PV panels on the roof. Partnered with a water-based underfloor heating system, the NIBE F1345 40kW ground source heat pump was specified to meet the heating requirements of the eight-classroom block in the most sustainable, cost-effective and reliable way possible. The new SLC facility excelled in all 10 BREEAM assessment categories, which range from energy, waste and water to health and wellbeing. The project was given £1.45m in support from South Lanarkshire Trust and £700,000 from the European Regional Development Fund. It was also awarded a further subsidy from South Lanarkshire Council’s Renewable Energy Fund. Robin Adderley, sales and marketing director at NIBE, said: “NIBE has a longstanding relationship with South Lanarkshire College, and we are really pleased to have been a part of this project. The new block sets the bar high for sustainable construction in the UK, which is reflected in its outstanding BREEAM assessment. It’s also a perfect working example of how heat pumps can be the ideal choice for larger-scale applications – helping them to minimise their carbon footprint and keep running costs down in the process.” Source link
First time buyer numbers in the UK remain 2.2 million behind where they should be given demographic trends despite significant government investment in home ownership, according to a new report. The report from the Intermediary Mortgage Lenders Association (IMLS) suggests that it means that current policy behind interventions in the housing market is missing the mark but they are likely to remain priorities for any new government that emerges in the post-Brexit political environment. The report finds that government investment in home ownership, including through the 15 different Own Your Own Home schemes currently on offer, is yet to have the desired upward effect on home ownership levels. Schemes including the Help to Buy ISA and the Starter Homes Scheme are designed to boost home ownership. They will also expand a demographic that has traditionally voted for the Conservative party, the report points out. At the 2015 General Election, 46% of outright owners and 39% of mortgaged home owners voted Conservative against 28% of private tenants and only 18% of social tenants, meaning homeowners remain a vital demographic for the Conservatives. This approach of extending support to help first timers get on the property ladder is partly being funded by the Conservatives’ second major intervention in the housing market, managing demand through the introduction of extra tax on buy to let and second home purchases. The report explains that the Exchequer is set to raise around £1.7 billion a year from these new taxes, although spending on home ownership far exceeds these costs and the latest UK Housing Review research from the Centre for Housing Policy estimates Government spending on home ownership in England through grants, guarantees and loans will total £40 billion over 2015 to 2021, equivalent to over £6.6 billion a year. But despite Government efforts to bolster home ownership, first time buyer numbers are still tracking lower than expected. The IMLA report finds that between 2007 and 2015 the number of first time buyers in the UK was some 2.2 million lower than past demographic trends suggested it should have been. The report also points out that so far some 90,000 new home sales have been made under the Help to Buy equity loan, NewBuy and FirstBuy schemes and a further 74,000 mortgages have been completed with the support of the Help to Buy mortgage guarantee scheme but the government has failed to reverse the decline in home ownership. Indeed, between 2010 and 201, the latest year for which data is available, the number of owner occupied homes in the UK fell by 270,000. This decline may now be stalling as the latest English Housing Survey showed no change in owner occupation rates between 2013/2014 and 2014/2015, but there is yet to be any increase in home ownership levels. The IMLA’s analysis of data from the Building Societies Association (BSA) suggests more people worry about accessing a mortgage than affording one. In research conducted in March 2016 some 39% of aspiring first time buyers cited access to a large enough mortgage as one of the main barriers they faced to buying a home, higher than the 34% citing the affordability of mortgage payments. It says that this implies that many first timers are unable to borrow a sum they consider to be affordable, which could suggest over regulation of the market. Overall, raising a deposit was identified as the biggest barrier to homeownership, cited by 61% of aspiring first time buyers. ‘Politically, home owners are a crucial demographic for the Conservatives, so the Government is throwing its weight behind a variety of different schemes to try and boost first time buyer numbers. But current policy is still missing the mark and failing in its objective of maintaining home ownership levels,’ said Peter Williams, IMLA executive director. ‘This is partly because saving for a deposit and accessing high loan to value (LTV) mortgages remain ongoing challenges for first time buyers. Mortgage repayments are cheaper than ever but many first timers simply don’t qualify for a mortgage as they can’t stump up the starting sum,’ he explained. He pointed out that the Government has moved from an overall focus on supply regardless of tenure to a new policy centred on supply built around home ownership with the risk of making a bad situation worse and the latest move to control the rental market by taxing landlords is an own goal by the Government. ‘It is likely these costs will simply be passed onto tenants as landlords look for other ways to maintain their profits, making the challenge of saving for a deposit an even harder struggle and it will reduce the flow of investment into new homes for rent,’ said Williams. ‘There is a longer term risk too that it has created a more volatile political environment in the housing market which may impact on owners and investors. The current political attitudes to the private rental sector are ill focused and short sighted,’ he added. The IMLA report also highlights that Basel rule changes could reduce high LTV lending further. High loan to value mortgages have been hit by the largest absolute increase in capital requirements under the Basel rules that are already coming into force. Proposed changes to Basel regulations could mean capital requirements are set to rise further, and the availability of high LTV lending could be further reduced. Home ownership levels could also be affected by the Government’s stance on the Private Rental Sector (PRS). The IMLA warns that tenants are likely to suffer the cost of higher taxes on landlords through higher rents as demand for rental accommodation continues to rise, allowing landlords to raise their rents to maintain profit margins in a more highly taxed environment. This will impact aspiring first time buyers who are trying to save for a deposit while living in rented accommodation. Instead, the IMLA report argues that a more effective way to stimulate homeownership would be a refocus on the rules surrounding mortgage availability. In particular, the IMLA believes the
Property in south Florida continues to be popular with buyers from South America topping the list for people from overseas searching for real estate, the latest research shows. Colombia has been the top country of origin for five months in a row and four out of the top five countries are in South America, according to the data from the Miami Association of Realtors. In second place is Venezuela, then Argentina with Israel in fourth place and Brazil in fifth. Georgia registered the most searches of Miami real estate among American states. ‘South Florida is known around the world for embracing all cultures. Foreign born residents love Miami. Their passion is visible in our monthly property searches and in Realtor.com global searches, which continue to show South Florida as the most searched US market by international consumers,’ said Mark Sadek, chairman of the association. Colombian home buyers tied with Argentinians in purchasing the third-most Miami real estate among foreign countries and 10% of all foreign South Florida transactions. Only Venezuela with 13% and Brazil with 12% bought more. Colombians moving to South Florida are often upper middle class families who want to enjoy their prosperity earned in their homeland as professionals and entrepreneurs. Colombians spend the second most on South Florida property among foreign buyers. The $516,000 average purchase price of Colombians tied with Argentina and only trailed Brazil at $766,000. Israel posted the fourth most searches of South Florida real estate in April. It was the country’s highest finish since it took fourth in September 2015. India was sixth for the second consecutive month, while in seventh place was Canada, then the Philippines, Spain and Peru. Georgia, which had been climbing the ranks in recent months and finished second in March, moved ahead of New York for the most South Florida web searches in April 2016. In third place was Texas, followed by California, Tennessee, Illinois, Ohio, Indiana, North Caroline and Michigan. The top market for overall international real estate demand: was Miami-Fort Lauderdale-West Palm Beach in Florida, followed by Los Angeles-Long Beach-Anaheim in California, then Bellingham in Washington State. South Florida ranked as a top-five market for consumers in eight of the world’s 10 largest regions in April 2016. South Florida finished as the most searched market in four of the regions. Source link
Skipton reduces fixed rate residential range Skipton Building Society has announced today that it is reducing its 2 and 5 Year Fixed Rate residential mortgages with rates lowered by up to 0.38% – an average of 0.20% in rate reductions across the range. Purchase products include 2 year fixes at 1.09% to 60% LTV, and 1.79% to 80% LTV, and a 5 year fix at 1.89%to 60% LTV. For those wishing to remortgage, products include a 5 year fix at 1.90%to 60% LTV. All of the 2 and 5 year fixed rate remortgage products offer free valuation and free standard legal fees. And all purchase applications for the 2 and 5 year fixes come with free valuation. Full details of the range can be seen at skipton.co.uk/mortgages. Kris Brewster, Skipton’s Head of Products, said: “In reducing our mortgage rates on this range, we’re really showing our support to help get the country moving and enable more people to progress on the housing ladder, whatever rung on it they may be. Today’s news is great for borrowers, as our mortgage rates continue to fall and our range of products competitively sit in the national best buy tables. With rates reduced by up to 0.38%, there really are some great deals to be had for people looking to buy or remortgage, and some great choice to suit all needs. So whatever property their life ahead may take them to, there’s plenty of options to get the mortgage that’s just right for you.” Join our mailing list: Source link
Harworth Group plc is known for property development and investment. The company has revealed that they have purchased two strategic land sites in the Midlands that will be beneficial to the expansion of their strategic land bank. The two sites have both been purchased using a part of the £27.1 million that has been raised by the Company’s equity placing in March 2017. The sites are expected to deliver returns above Harworth’s double-digit target rate of return, which is great news for the company. The two newly purchased sites are located next to the existing Haworth landholdings which means that there is also the possibility of additional return, or marriage value when combined. The first site that has been acquired by the property developing and investment company is a 145-acre site which is located in Coalville, Leicestershire. The site is located next to Harworth’s major development site in this location. The new site cost £11.8 million plus acquisition costs and already has planning consent for the construction of 914 residential plats and the acquisition of this new site has marriage value. Harworth has control of 2,016 plots in Coalville which represents a 15-year pipeline for development in the area. The second site that has been acquired by Harworth is an 88-acre site for £2.6 million plus the costs of acquisition. The site is located in the Chatterley Valley in Staffordshire, near to the A500 and is also next to a 24-acre freehold. Combining these two Staffordshire sites together gives the company a 112-acre site that has planning consent for a 1.2 million sq. ft. commercial development which would offer marriage value and a 10-year development pipeline. This opportunity also benefits from the Government Enterprise Zone which would offer incentives for businesses to potentially become occupiers of the development when completed.
Transport Scotland has released a tender for the £30 million project to construct the Maybole bypass. The organisation is looking for bidders that will contracted to carry out the construction work of approximately 5.2 km of the new bypass and any associated junctions. When the planned bypass has been completed the road network in the nearby area will be separated into local and long distance routes. By creating this strategic link and separating the long distance travellers from local drivers will cut down on the levels of congestion experienced in the area. Key ports near the proposed bypass like Stranraer and Cairnryan will be affected by the work as it is thought that the construction work will cut journey times for long distance road users. This new development project offers construction companies in Scotland an amazing opportunity to work on a high profile project. This extensive alteration work will offer work to a wide range of companies and will also improve the traffic in that area. Work to improve the A9 at Berriedale Braes in the north of Scotland is part of the Scottish Government’s commitment to improve the transport network across the country. With the announcement of this most recent tender, the total value of the contracts that have been awarded and advertised over the past few months is around £174 million. This demonstrates a strong commitment to cut journey times and emissions caused by the congestion as well as carry out general improvements across the country. Those who live in the Maybole community will be given relief from the built up traffic with the creation of the Maybole Bypass, boosting the local community as well as removing the congestion from the local roads caused by vehicles covering longer distances. It is thought that the construction work on the Maybole Bypass will start at some point next year.
Willmott Dixon, the leading independent supplier of construction and property services in the UK is targeting a pipeline that has been valued at £100 million. The construction pipeline consists of orders that will be complete using their pre-designed school system, which is called Sunesis. Willmott Dixon has announced this ambitious target following the appointment of Fran Cox from the Head of Schools and Infrastructure at Bedford Borough Council as the new Operations Director. The pan is for Fran Cox to lead the growth plans at Sunesis, a system that is jointly owned by Willmott Dixon and Scape Group. It has been predicted that the country will require more than 2,000 new schools over the course of the next few years. Hopefully Fran and Sunesis will be able to play an essential role in meeting the demand for school places on a national scale. Sunesis has already delivered 28 primary schools since their first commission in 2011. The division has also worked to complete 40 school extensions which has led to 18,000 new school places being created in total. At the moment, Sunesis has a range of three primary schools that are already pre-designed. These three schools are available with a fixed cost and a fast-track programme that means the work to construct the school can be completed within nine months of the project first being commissioned. Fran’s recent appointment as Operations Director is vital to drive forward Willmott Dixon’s upcoming plans for growth in order to become a more established provider of new schools. Fran Cox’s experience working at Bedford Borough Council will be vital with the development of Sunesis. Fran has also experienced working with Sunesis as a client which will be valuable for understanding the needs and requirements for company will need to fulfill. Sunesis has a great amount of potential and Fran Cox will be an asset to the company as they work to create more school places for children around the country.
Mick George are diversifying and will be looking to offer vehicle purchasing and leasing services. Construction companies are not necessarily the first companies to look at when exploring the idea of purchasing or hiring vehicles. However, it is worth considering that companies in this industry are able to efficiently operate and maintain over and above 400-strong fleets in some cases. However, before making this move it is imperative that a construction company fully understand the market it is moving into, as well as have the foresight to carry out the move and have the knowledge to add to their service portfolio in order to move successfully. Mick George Ltd have done just that and made the leap into the commercial vehicle trade. In order to carry out this expansion the company have come to an agreement with one of their established vehicle suppliers, who shares the same vision and ethos as the construction company. Steve Howell is the part owner of Neva Consultants after generating a range of experience throughout his career, which began in Car Sales in 1981. At Neva, Steve pays a central role and has been directly involved in the turning over of up to 2,000 cars a year to a range of different satisfied clients. Steve has been working with Mick George for a number of years, especially with the Finance Director Jon Stump. After helping Jon source a BMW 323SE, Steve became involved in the supply of the Company Cars, Lorries, and Tipper Trucks in volume for the construction company. The car leasing market is stable and buoyant that the moment, and Mick George Ltd will be offering vehicles at a much reduced rate while removing the hassle of maintaining the vehicle and any risk of depreciating value. This plan will be attractive to customers and will offer the construction company an innovative way to stay ahead in this uncertain market while still complementing the core of their business services.
Herefordshire Council is advertising for a development partner for major housing development plans. The county council is planning to form a joint venture company with a private sector partner that over the next 20 years could deliver as much as £1bn of construction work, according to its most optimistic estimates – although the lower end estimate is just £10m. The council’s cabinet approved the plan last week to tender its development and regeneration partnership and the contract notice has now been published in the Official Journal of the EU. Councillor Harry Bramer, cabinet member contracts and assets, said: “Working in partnership with a developer will help us ensure that the growth of Herefordshire is managed in a holistic way. This is a tremendous opportunity to ensure that strategic development is managed across the county. “We have ambitious plans for Hereford city, with the Urban Village being a priority for development, adjacent to the new city link road which is due to start construction in July this year. “Herefordshire’s landscape will change dramatically over the next few years – it’s an exciting time for those living and working in the city.” The winning bidder is expected to be announced in April 2017. This article was published on 27 Jun 2016 (last updated on 27 Jun 2016). Source link
According to the latest report from CML, repossessions in Q1 this year fell to 2,100 (1,500 home-owner, 600 buy-to-let), meaning that the repossession rate is the lowest on record. If this rate continued through 2016, it would put the annual number of repossessions at 8,400, lower than any year since 1982 (but in 1982 there were only 6.9 million mortgages, against 11.1 million mortgages today). Mortgage arrears also continued to fall. For the first time in more than a decade, the number of mortgages in arrears of 2.5% or more fell below the 100,000 mark, with 96,200 loans in arrears at the end of March, down from 101,700 at the end of December, and 111,200 at the end of the first quarter of 2015. Even the number of mortgages in the most serious arrears band of 10% or more, which has remained fairly static while the lower arrears bands have declined, fell a little this quarter. It has been a notable trend in recent years that the decline in mortgage arrears and repossessions means that experience is much more positive than in the rented sector, where separate data from the Ministry of Justice, based on court activity, shows that eviction rates are much higher (especially in the social rented sector). For example, there were 42,728 rental evictions in England and Wales by county court bailiffs in 2015, against 5,594 mortgaged property repossessions by county court bailiffs, even though the rented sector accounts for only around a third of the housing stock. Looking in more detail at the latest CML data, it is possible to look at experience in both the home-owner mortgage market and the buy-to-let market. As usual, arrears rates are higher among home-owners than buy-to-let landlords, but the repossession rate is lower. This is because lenders will seek to avoid repossession wherever possible to enable home-owners to get over temporary periods of difficulty, whereas buy-to-let is a more commercial enterprise and lenders may move to protect their position more quickly on rental properties as tenants move out. Paul Smee, CML director general, had this to say: “We cannot completely avoid the risk of any individual household experiencing arrears or repossession. But lenders continue to work very effectively to help their borrowers through periods of difficulty when they do occur, and borrowers should be reassured that most cases of arrears can be resolved and will not lead to repossession. The key to dealing with difficulty is to tackle it early, and to communicate with your lender as soon as you think you may be facing problems.” Source link