Legacy Weekly Update (23rd-30th September 2025)
Market & Prices
The UK property market is influenced by various factors, including economic crime and cryptocurrency activities. The case of Zhimin Qian, who attempted to launder stolen funds through UK property purchases, highlights the impact of digital currencies on transactions. The Office for Budget Responsibility (OBR) is set to reassess the UK's long-term economic trends, potentially influencing future housing demand and prices. Research by Nationwide reveals that properties in London within 500 metres of a train or Tube station command an 8% premium, reflecting the desirability of proximity to transport links.
Mortgages & Finance
The latest Business Finance Review reports an 8% increase in SME lending by major high street banks in Q2 2025, with a 28% rise in gross lending to small businesses compared to the previous year. Mortgage lending activity dipped early in Q2 due to Stamp Duty changes but recovered by June, suggesting potential improvements in access for first-time buyers. The mortgage market is also seeing specialist lending solutions gain traction for unique financial situations. In the US, mortgage rates have started to decline, contributing to a surge in new home sales.
Rental Market & Landlords
Landlords are advised to focus on energy-efficient upgrades to enhance rental yields and attract eco-conscious tenants. The NRLA highlights the importance of managing damp and mould issues, which pose significant compliance and financial risks. The Renters Reform Bill remains a critical consideration for landlords, with the Renters' Rights Bill set to return to the House of Lords on 14th October. The NRLA continues to advocate for a comprehensive review of landlord taxation to ensure a balanced approach that does not deter investment.
Policy & Legislation
UK Finance has achieved key policy changes in the Money Laundering Regulations, including the removal of mandatory Enhanced Due Diligence for certain high-risk transactions. Chancellor Rachel Reeves has signalled potential tax rises in the November Budget, which could affect housing and pensions. The Renters' Rights Bill is progressing through Parliament, aiming to address tenant rights issues. The NRLA is actively engaging with political parties ahead of the Senedd Election to influence future housing policy in Wales.
Planning & Development
Tata Steel's redevelopment of its Port Talbot site into a £1.25bn electric arc furnace facility marks a significant shift towards greener industrial operations. This project is expected to employ up to 1,200 workers and revitalise the local economy.
Data & Research
The UK Finance Household Finance Review suggests that lower stress rates could enhance mortgage accessibility without significantly increasing arrears. Rightmove's analysis highlights the impact of energy efficiency on household bills, with higher EPC ratings leading to lower energy costs. Ofgem reports a record high in energy debt, with £4.4 billion owed to suppliers, prompting considerations for a Debt Relief Support Scheme.
Industry Moves & Corporate
UK Finance is actively engaging with EU financial services stakeholders and participating in forums such as EUROFI. Tata Steel's transition to electric arc furnace technology at Port Talbot reflects a commitment to sustainable practices, supported by significant investment in equipment and infrastructure.
Other Noteworthy
Zhimin Qian's conviction for her role in a massive cryptocurrency scam underscores the need for vigilance in property transactions involving digital assets. The Teachers' Pension Scheme faces criticism due to delays and poor service, affecting members' financial stability. Landlords are encouraged to sign up for HM Land Registry's free Property Alerts to protect against sophisticated property scams. Rightmove's list of the most-viewed properties showcases unique homes, highlighting the diversity that captures buyer interest.
--- This briefing was produced automatically by Legacy using expert-tuned AI. If you spot anything we should add next week, please let us know.
