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Massive Delays In Time From Sale Agreed To Exchange/Completion

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The long slog from “sale agreed” to “completion” has become the defining frustration of the UK housing market. Ask any agent or conveyancer: deals now drift for months. 

While the exact national average varies by source and region, the trend line over five decades points one way—longer timescales, not shorter.

How long are we really talking? Historic, comparable data is patchy, but industry records and practitioner accounts offer a workable picture despite the limited ability to check substantive data:

• Mid 1970s: Typically 6–8 weeks from offer agreed to completion. Fewer checks, simpler chains, and a more standardised stock profile helped.

• Mid 1980s: Around 6–10 weeks. Bigger mortgage volumes and price booms added friction, but processes were still relatively lean.

• Circa 2000: Roughly 8–12 weeks. Email sped up communication, yet growing use of surveys, leasehold complexity, and lender panel rules nudged timelines out.

• Circa 2010: Often 12–16 weeks. Post crisis underwriting, stricter affordability checks, and more cautious valuations lengthened the path.

• Today (2024–2025): Commonly 18–22 weeks, with many transactions exceeding 24 weeks, especially in chains or where leasehold, cladding, or new build issues arise.

Why the slowdown?

Several structural forces have converged.

1. Heavier compliance and risk management. Anti money laundering and source of funds checks, politically exposed person screening, and enhanced ID verification all make sense—but they multiply the points of failure. Each actor (agent, conveyancer, lender) often repeats similar checks because systems don’t interoperate.

2. Mortgage underwriting is tougher. Since the financial crisis, lenders require deeper documentation, stress testing and more conservative valuations. Panel constraints mean not every conveyancer can act for every lender, triggering re instruction or dual representation. Mortgage offers can expire mid chain when rates move, forcing re underwriting.

3. Local search variability. Turnaround for local authority searches is a postcode lottery—from days to many weeks—stalling otherwise ready files. Add Land Registry backlogs on complex titles, and the drift accelerates.

4. Chain fragility. Low supply, stretched affordability, and tax changes affecting buy to let have made chains longer and more brittle. One down valuation or survey surprise can ripple through four or five linked sales.

5. Leasehold and building safety complexity. Managing agents’ packs (LPE1), historic ground rent clauses, and post Grenfell fire safety documentation (EWS1 and equivalents) add specialist steps and long waits. Many buyer solicitors will not proceed without gold standard evidence. In addition to this complexity causing delay, it is increasingly far more likely for a leasehold property to form part of a high percentage of chains, given the numbers that have been built over the years and the frequency which people now move.

6. Capacity and business models. High volume “factory” conveyancing struggles with spiky workloads. Caseloads per fee earner remain high, so simple queries wait days. Meanwhile, better tech exists but remains siloed. Quality conveyancing solicitors priced out due to low cost “factory” business models.

7. The increase in the ‘compensation’ culture in the UK has prevailed since the 1970’s, when rightly or wrongly back then a ‘view’ might be taken on certain aspects during the conveyancing process. These days nobody wants to take that risk anymore.

Government Intervention & A Cautionary Tale

The Labour government is making noises about overhauling the house sale process, but we encourage them not to repeat the bad history around HIPs (home Information Packs).

When the last Labour government introduced Home Information Packs (HIPs) in 2007, the stated aim was to speed sales by front loading information. In practice, they often slowed the very start. Vendors couldn’t list until a pack was ordered; costs deterred some from testing the market. Once a buyer emerged, many solicitors representing those buyers were wary of relying on HIP contents—particularly if local searches were aging by the time a chain aligned—so duplicate searches were commissioned. Within three years HIPs were suspended, leaving only the EPC requirement. The lesson isn’t that upfront information is bad; it’s that poorly designed mandates, with no shared standards or portability, create new friction rather than removing old.

What would actually help?

• Genuine upfront information—done properly. Replace one off PDFs with digital property logbooks holding title, guarantees, planning history, and searches with clear validity windows. Make data machine readable and updateable, so buyer solicitors can consume rather than repeat.

• Interoperable digital ID and source of funds. A government backed trust framework could let a single, high assurance KYC check be reused across agent, conveyancer and lender, cutting duplication and delay.

• Binding reservation agreements. Light touch, time limited pacts (with cooling off and defined penalties) reduce gazundering/gazumping and create urgency for document production. Pilots show meaningful fall through reductions.

• Service level targets where the state is the bottleneck. Publish and enforce SLAs for local searches and leasehold information packs, with fee caps and penalties for missed deadlines.

• Mortgage portability. UK “porting” exists, but fees, timing, and affordability rechecks can derail it. Loosening early repayment charges on like for like moves and exploring limited assumable loans (as in parts of the US) would cut chain length and break rate lock paralysis.

• Capacity and accountability in conveyancing. Encourage accreditation that caps active caseloads per fee earner; insist on proactive milestone reporting to all parties; promote collaborative platforms that log enquiries and responses transparently.

• Finish the job on leasehold reform. Standardise LPE1 turnaround, limit charges, and accelerate the shift away from problematic ground rent structures; commonhold where feasible will remove a chronic source of delay.

Direction Of Travel And A Plea To Government

The direction of travel is clear: the UK has layered caution upon caution without knitting systems together. That is why 6–8 weeks has quietly become four or five months. Some of that caution is justified—but the duplication isn’t.

The final word on policy is simple. Government intervention in housing, however well intentioned, can easily produce fresh problems—the HIPs episode proved as much. If ministers want to quicken sales, they should co design reforms with the people who live the process daily: estate agents, conveyancers, lenders, and local search officers. 

Listen first, legislate second, and aim for fewer, smarter steps—not more paperwork.

McCarthy Holden estate agents sold board

Market Update & Latest Property Magazine

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Against a backdrop of international turmoil, the UK’s residential sales market, especially in the South East, continues to display striking resilience. 

Even as headlines are dominated by the Iran/US war and its longer-term economic reverberations, transaction pipelines remain active, pricing is broadly stable, and buyer intent appears stubbornly intact across core commuter belts and well-connected towns.

This is not an isolated episode. Recent history shows a pattern: during the Covid crisis, prices rose – most notably for homes with gardens, workspace, and access to green space, as buyers reassessed priorities. The war in Ukraine sent shockwaves through energy markets and inflation, yet the UK housing market absorbed the blow better than many expected. While mortgage costs did rise and activity cooled in segments, outright distress was limited and values generally held, particularly where schools, transport, and amenities underpin demand.

Several fundamentals help explain this durability. Chronic under supply, especially in the South East, supports prices even when sentiment wavers. A tight labour market and accumulated household savings cushions demand. The prevalence of fixed-rate mortgages slows the pass-through of shocks.  In addition high rents nudge would-be buyers toward ownership despite rate headwinds. 

International uncertainty can also redirect capital toward perceived safe, rules-based jurisdictions – prime UK housing often benefits.

The Real / 'Shop Floor' Local Market

Tthere is a deeper, human explanation. After years of rolling crises, many households seem unwilling to let distant geopolitics permanently defer life decisions. 

If home owners and buyers cannot influence the news cycle, they can still shape their immediate future: moving closer to family, trading space for commute, or finally securing that garden. This pragmatic optimism, tempered by careful budgeting and realism on price, helps keep chains moving.

No market is fully insulated. Yet the UK housing story, and the South East in particular, continues to show that clear needs, finite supply, and determined buyers can outweigh even a noisy global backdrop.

moving home remains a priority

Find A Home To Buy Or Rent

Take a look at our latest digital magazine where we are showcasing some fine properties to buy or rent. Buyers can see homes from £350,000 to £2,500,000, and for renters some simply stunning homes are available.

In this issue some of our editorial content includes insights into what might be going on in the mind of a house buyer with a classic car collection, a barbecue recipe with a Caribbean twist, interior design and some thoughts in how to modernise an outdated 1970’s /1980’s bathroom.

Just click here or on the image below to go to our 150 page flipping book digital magazine….

Renters’ Right Act Ready Landlord?

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McCarthy Holden property let image

If you’re a residential landlord not yet ready for May 1st., we can help and here are some useful insights…

We are helping hundreds of our landlord clients to prepare for the may 1st changes, but there are many residential landlords who are being impacted by too many commentators scaremongering about the new Renters Rights Act, so this news item is a summary to try and provide some clear information about the key factors a Landlord needs to be aware of.

With the right professional agent support there isn’t anything a landlord needs to be worried about.

At McCarthy Holden we shall be implementing these changes in line with the Government’s phased timeline and we aim to provide our Landlords with a seamless transition from May this year.

In essence the new law aims to rebalance rights between tenants and landlords by strengthening safety and security for those renting, tightening the overall standard of rental properties, and simplifying dispute resolution.

The main changes include the following;

Abolishment Of ‘no-fault’ Section 21 Evictions

Section 21 ‘no-fault’ evictions will no longer be available for use from 1st May 2026. For a Landlord this means that gaining possession of their property will only be possible through a defined set of approved grounds under Schedule 2 of the Housing Act 1988 by mean of serving a Section 8 notice citing specific grounds and the notice period shall vary depending on the ground being relied on.

Occupation By The Landlord Or Family

It will be possible to gain possession in circumstances where a landlord or close family member wishes to move into the property. This cannot be used for the first twelve months of a tenancy and the Notice period shall be at least 4 months.

Sale Of The Property

Possession will be possible in circumstances where a landlord needs to sell the property, however, this again, cannot be used for the first twelve months of a tenancy with a Notice period of at least 4 months being required.

Rent Arrears

If a tenant has at least three months rental arrears (please note this must both be at the time notice is served and at the time of a possession hearing), then a landlord can move to gain possession of the property after serving a Section 8 with 4 week notice period.

There are also other grounds within Section 8 , both mandatory and discretionary for reasons of possession.

What Happens With An Existing AST Tenancy

On the 1st May 2026, if you currently have a tenant in situ with an Assured Shorthold tenancy (AST), this tenancy shall automatically become a ‘statutory periodic tenancy’ from this date and after this date the tenant shall be able to give 2 months notice at any time. A landlord however, will only be able to give notice for specific reasons and not to end before a tenant has been allowed to live in the property for at least 12 months.

Rental Increases

Shall only be able to be administered via the service of a Section 13 notice. These notices cannot be served more than once within a 12 month period and a landlord must provide at least 2 months notice of the increase if the rent is paid monthly. If a tenant wishes to challenge a rent increase, they can do so by applying to the first tier tribunal.

Introduction Of A New Decent Homes Standard

With mandatory repairs, timelines and minimum energy efficiency requirements (EPC band C target for private rentals within a phased timetable, expected 2028).

Establishment Of A National Landlord & Letting Agent Registration And Licensing

All landlords will be required to register on the database prior to renting out their property and this will include providing all compliance documentation (Gas Safety, EICR, EPC etc). Local Authority powers are being enhanced with Sanctions for rogue landlords, including fines, civil penalties and criminal sanctions for severe breaches.

Pet Policy

As of the 1st May all pet requests must be considered and It will be difficult to say no pets, apart from specific reasons (ie: head lease does not permit).

Our Professional Lettings Team Are Here To Help

At McCarthy Holden our Landlords are looked after by real people who live and work locally, with whom you can speak to on the phone so no bots or algorithms to delay or frustrate service delivery. We believe our Landlords experience the difference and benefits.

Our professional team are always available by phone or email, so if you are a Landlord who wants a one to one reliable service, call us on 01252 622550 for a free property valuation and advice about renting property.

How to bag the best mortgage deal in the current market

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Mortgage experts tell Lisa Salmon what the best deals are currently, and what borrowers should bear in mind.

If you’re looking for a new mortgage deal, some attractive offers are available right now. But experts warn that the ‘cheapest’ rate is rarely the most suitable.

Financial experts say that following the Bank of England’s base rate cut to 3.75% in December 2025, there’s been a significant price war among high-street lenders for the start of 2026.

But getting the lowest interest rate doesn’t necessarily mean you’re getting the best overall deal.

“For those searching for mortgages independently, it’s easy to be drawn in by the headline interest rate,” says Rachel Geddes, strategic lender relationship director at the Mortgage Advice Bureau. “However, the ‘cheapest’ rate is rarely the most suitable deal.

“The most common pitfall for DIY searchers is the fee-to-rate ratio. A lender might offer a highly competitive rate, but if it comes with a costly arrangement fee, you could end up paying more over the fixed term than you would with a slightly higher rate and no fee.”

And Hannah McEwen, Money Saving Expert’s money editor, says: “Major lenders have kicked off 2026 by cutting fixed mortgage rates. That’ll come as welcome news for many of the 1.8 million people whose fixes are due to end this year, especially if they locked in at a higher rate over the past few years.”

She says overall, mortgage deals have been edging down recently. In mid-January, the cheapest two-year and five-year fixed rates on the open market were around 3.5% and 3.7% respectively – lower than at any point in 2025.

“This time last year, both were closer to 4.2%,” she says. “But when choosing a mortgage deal, it’s about finding the right balance between three key factors: the interest rate, any arrangement fees, and how long you want to fix for.

“It’s crucial to use a whole-of-market comparison tool, ideally one that shows deals available both direct from lenders and via mortgage brokers, so you’re not missing out on some of the best options.”

Don’t try to time it perfectly

Although there’s been a consistent downward trend over the last six months, and this is expected to continue throughout 2026, shifts in the global market can impact pricing at any time, says Geddes, and the best time to get a mortgage is simply down to a borrower’s circumstances and when they’re ready to move.

“Early January has seen lenders aggressively reducing rates to capture new business,” she says. “While analysts predict another two rate cuts this year, I’d caution against trying to time the market perfectly.

“Mortgage pricing is influenced by swap rates [which reflect where lenders think the base rate is heading over the next two to five years] and geopolitical factors that can fluctuate overnight, so if you find a rate that makes your move affordable, securing it now is far wiser than gambling on a further 0.1% drop that may never materialise.”

Be sure your finances are in order

Geddes warns borrowers they need to be aware that underwriting has become far more complex, and explains: “Lenders aren’t just looking at your salary, they’re auditing your lifestyle.

“Closer attention is being paid to discretionary spending, such as recurring subscriptions and high-frequency small transactions, which can impact your affordability. Before you start searching for a property, make sure to tidy up your bank statements for at least three months to demonstrate you can handle future repayments with ease.”

Check the flexibility of the mortgage

Geddes says another critical factor often overlooked is the flexibility of the product.

“In an environment where rates are falling, you don’t want to be locked into a deal that restricts your future options,” she says. “Check the early repayment charges (ERCs) – if your circumstances change, those exit fees can run into the thousands, wiping out any initial savings from a low rate.

“Ultimately, while searching for a deal yourself may give you a top-level overview, it doesn’t show you what you’re eligible for. This is where professional advice is invaluable. A broker doesn’t just find the rate – they’ll help secure you the most suitable deal for your individual circumstances.

“In this market, the most competitive deal isn’t just about the lowest monthly repayment, it’s about a strategy that fits your long-term financial health.”

How long to fix for

McEwen says at the moment, rates on many five-year fixes aren’t much higher than two- or three-year deals, so there’s no one-size-fits-all answer to how long to fix your mortgage for.

“Shorter fixes give you flexibility to switch your deal again sooner, while longer fixes offer payment certainty,” she points out. “Just make sure the term fits your plans – for example, a 10-year fix can be poor value if you expect to move, as early-repayment charges can be eye-watering.”

Always take fees into account

Fees matter too, stresses McEwen. “Some of the cheapest headline rates come with hefty arrangement fees, which can wipe out savings – especially if you regularly remortgage every two or three years.”

Beware falling onto the Standard Variable Rate

If your current fixed deal is ending, McEwen stresses it’s important to avoid falling on to your lender’s Standard Variable Rate (SVR), which is usually far more expensive.

She says most lenders let you secure a new deal three to six months before your fix ends, and you can either take a product transfer with your existing lender or remortgage to a new lender.

“Product transfers are often quicker and involve less paperwork, as lenders might not need to do a full affordability assessment if your circumstances are the same. However, they don’t always offer the best rates, so it’s worth comparing them against the wider market. If you remortgage elsewhere, you’ll usually get access to more deals, but it can involve more checks and admin.

“This is where a good mortgage broker can be useful – particularly if your situation isn’t straightforward, you’re self-employed, or you’re buying an unusual property. Some brokers are fee-free, though always check how they’re paid.”

Consider a tracker mortgage

If you’re nearing the end of a fixed mortgage and don’t want to lock into another one straight away, a tracker mortgage can be a reasonable stop-gap, says McEwen.

“Trackers move in line with the base rate, and while they’re not as cheap as the best fixes, they’re often far better than a lender’s SVR. Many are also free of early repayment charges, giving you flexibility to switch to a fix later if rates fall further.”

How to Buy a House in England as a First-Time Buyer

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Purchasing your first home in England is a significant financial and legal undertaking.

Purchasing your first home in England is a significant financial and legal undertaking.

While the process follows a broadly structured path, it is important to understand the specific stages involved, particularly the legal position prior to exchange of contracts and the rules surrounding Stamp Duty Land Tax (SDLT).

The following guide explains the process in a clear and formal manner.

Preparing Financially

Before beginning your property search, you should assess your financial position carefully. Most lenders require a deposit of at least 5% of the purchase price, although a deposit of 10–20% often secures more favourable mortgage rates. In addition to the deposit, buyers must budget for associated costs such as legal fees, survey fees, mortgage arrangement charges and removal expenses.

It is prudent to retain a financial buffer after completion to cover unforeseen repairs or adjustments in living costs. First-time buyers frequently underestimate these additional expenses.

Viewing and Selecting a Property

When viewing properties, attention should be given not only to presentation but also to structural condition, heating systems, insulation standards and evidence of damp or movement. If purchasing a flat, particular care must be taken to review the lease term, service charges and ground rent provisions, as these can significantly affect long-term affordability and resale value.

You should also establish whether the seller is involved in a property chain, as this may influence the timeline of the transaction.

 

Making an Offer

In England, offers are submitted through the estate agent. Once accepted, the property is typically marked “Sold Subject to Contract.” At this stage, the agreement is not legally binding. Either party may withdraw prior to exchange of contracts without legal penalty, which distinguishes the English system from that of Scotland.

First-time buyers are often viewed favourably by sellers because they are chain-free and therefore reduce transactional complexity.

Instructing a Conveyancer

Once an offer is accepted, you should instruct a conveyancer or solicitor to manage the legal process. The conveyancer will conduct local authority searches, environmental checks and title investigations, raise enquiries with the seller’s solicitor, and liaise with your mortgage lender.

This stage typically lasts between eight and twelve weeks, although transactions involving chains or complex leasehold arrangements may take longer.

Formal Mortgage Application and Survey

Following acceptance of your offer, you will submit a full mortgage application. The lender will conduct a valuation of the property to ensure it represents suitable security for the loan. This valuation is for the lender’s benefit and should not be relied upon as a detailed inspection.

It is therefore strongly recommended that buyers commission an independent survey. A RICS Level 2 (HomeBuyer Report) is appropriate for most standard properties, whereas older or altered buildings may require a more comprehensive RICS Level 3 (Building Survey). If significant issues arise, you may seek to renegotiate the purchase price or reconsider proceeding.

Following acceptance of your offer, you will submit a full mortgage application. The lender will conduct a valuation of the property to ensure it represents suitable security for the loan. This valuation is for the lender’s benefit and should not be relied upon as a detailed inspection.

It is therefore strongly recommended that buyers commission an independent survey. A RICS Level 2 (HomeBuyer Report) is appropriate for most standard properties, whereas older or altered buildings may require a more comprehensive RICS Level 3 (Building Survey). If significant issues arise, you may seek to renegotiate the purchase price or reconsider proceeding.

Exchange of Contracts

Exchange of contracts is the pivotal legal moment in the English conveyancing process. Upon exchange, the agreement becomes legally binding and a completion date is fixed. The buyer usually transfers a deposit, commonly 10% of the purchase price.

Prior to exchange, there is no binding commitment. After exchange, withdrawal would normally result in severe financial penalties.

Completion

On the agreed completion date, mortgage funds are transferred to the seller’s solicitor and ownership passes to you. You receive the keys and may take possession of the property. Your solicitor will then arrange payment of any Stamp Duty due and register your ownership with HM Land Registry.

Stamp Duty Land Tax for First-Time Buyers

First-time buyers in England may qualify for SDLT relief on properties valued at £500,000 or less. Under current rules, no SDLT is payable on the first £300,000 of the purchase price, with 5% payable on the portion between £300,001 and £500,000. Properties exceeding £500,000 do not qualify for first-time buyer relief.

As tax rules are subject to change, buyers should verify current thresholds at the time of purchase.

Government Support Schemes

Eligible first-time buyers may also benefit from the Lifetime ISA scheme, which provides a 25% government bonus on qualifying savings used towards a first home (subject to conditions, including a £450,000 property value cap and a minimum account duration of 12 months). Shared Ownership schemes are also available in England, allowing buyers to purchase a percentage of a property and pay rent on the remaining share.

Typical Timeline

From offer acceptance to completion, the process generally takes between ten and fourteen weeks, though delays may occur where multiple transactions are linked in a chain.

Chancellor’s choices: how the upcoming Budget could impact the UK housing market

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McCarthy Holden will of course comment on the facts when known post Budget this week, but as a starter we’ve pulled together some of the wide-ranging options the Chancellor could be considering in order to extract tax revenue from property owners and aspiring home owners alike.

As the Chancellor prepares to unveil the Autumn Budget, the residential property sector could take centre-stage because of the wide ranging economic benefits of a market that is on the move and as unfettered as possible. House-price falls, a fragile recovery in buyer confidence and continued political pressure to raise revenue from wealthier homeowners mean property taxes and landlord measures are likely to feature heavily. Below we pull together the realistic options facing the Treasury, explain how each would work in practice, and outline the most probable effects on buyers, sellers, landlords and the overall housing market

Where the market stands right now

Recent market data show static asking prices. There is also caution among sellers and buyers ahead of the Budget in some market sectors mostly above £2.0m., driven in part by speculation over new property taxes and broader cost of living uncertainty. In addition, whilst mortgage rates have eased from their recent peaks, the cost of borrowing remains an important constraint on affordability

The policy levers the Chancellor could use - and what they would do

1) Reform or replace Stamp Duty Land Tax (SDLT)

Options:

  • Restore higher nil-rate thresholds or re-profile bands to reduce upfront buying costs for first-time buyers and mover chains.
  • Replace SDLT for owner-occupiers with an annual/property wealth tax or an annual charge payable on sale (proposals reported this autumn would target homes above a threshold such as £500,000)

Likely market effect:

  • Cutting SDLT thresholds (or reinstating more generous first-time buyer reliefs) would likely boost transactional activity quickly because SDLT is an upfront, purchase-time wedge block. Buyers would respond to lower up-front costs.
  • Replacing SDLT with an annual or “moving” charge spreads the cost over time and can reduce the disincentive to move created by a high one-off tax, but it risks making some homeowners (particularly in high-value areas but with low incomes) worse off, and could depress high-end sales if it’s perceived as a recurring wealth charge. Lower property transactions / house moves would significantly impact tax revenue in the wrong way because of losing the revenue from current stamp duty and vat charges by service providers working in the house market, and of course the loss of vat from the vast amount of services created by a house moves such as new kitchens and bathrooms.

2) Higher or more targeted rates for second homes / buy-to-let investors

Options:

  • Increase the surcharge on second homes / additional properties (currently an extra SDLT percentage for additional dwellings), raise it further, or extend similar surcharges to more transactions.
  • Introduce a landlord-specific levy or higher effective tax on portfolio owners.

Likely market effect:

  • Further targeting landlords would likely accelerate some small-scale exits from the sector (already under pressure), reduce investment demand and could tighten supply in the private rented sector, pushing rents higher in the short term. Without a meaningful social housing level in the UK targeting landlords would not help tenant because rents would increase and supply of housing stock availability would reduce due to landlords exiting the market.

3) Capital Gains Tax (CGT) changes on property

Options:

  • Raise CGT rates or reduce the annual exempt amount (AEA) — both would raise the tax burden on gains when properties are sold.
  • Tighten or reduce Principal Private Residence (PPR) relief for high-value homes (for example limiting relief above a threshold) — a targeted approach that raises revenue from the most valuable homes without touching ordinary households.

Likely market effect:

  • Higher CGT or a reduced AEA would increase the cost of selling investment and second-home property. This could potentially lock in existing owners and reduce transactions.
  • Cutting PPR relief for expensive homes would mainly hit the top end — potentially cooling top end market segments and raising effective holding costs for high-value owners. This could impact high-end prices because buyers are sensitive to potential future taxes. Lower property transactions / house moves would result and less tax revenue because of losing the revenue from current stamp duty and vat charges by service providers working in the house market. Result, a less mobile and flexible house market.

4) Measures aimed directly at landlords’ tax treatment and rental incomes

Options:

  • Introduce National Insurance on rental profits or allow some form of additional tax on landlord income.
  • Rollback of tax breaks — although mortgage interest relief was largely reformed previously, further tweaks could be considered (for example reintroducing some relief, or increasing taxes on rental income).

Likely market effect:

  • New employer-style taxes on rental profits or higher effective rates would make more and more small landlords financially unviable, likely reducing rental supply. This would put upward pressure on rents and increase housing insecurity for tenants.

5) Council tax / local property taxation reform

Options:

  • Reform or revalue council tax bands, or begin a gradual move toward a more modern local property tax (often mooted as a replacement for council tax).
  • Offer reliefs or targeted support for low-income homeowners in high-value areas.

Likely market effect:

  • Revaluation or an annual local property tax increases the ongoing cost of homeownership (especially for those currently paying low council tax relative to property value), which can reduce mobility as owners stay put to avoid higher bills, depressing transactions in affected areas.

Likely short-term market responses

  • Transaction volumes are likely to fall pre-announcement and remain subdued until the policy details are known — sellers delay listings, buyers wait for clarity. Data show buyers already pulling back ahead of the Budget.
  • Upper-end weakness: rumours of wealth-targeting measures have already led to a steeper slowdown at the top of the market. If the Government confirms higher recurring or one-off charges on expensive homes, the prime market could see further correction.
  • Rental squeeze: any measures that raise landlords’ costs (higher tax on rental profits, restricted reliefs, or higher transaction taxes on replacement purchases) could reduce supply and raise rents in the short term. Targeting landlords will be detrimental.

Political and administrative constraints

  • Revenue vs incentive trade-off. Taxes that raise quick revenue (raising CGT rates, lowering CGT allowances) are administratively straightforward but can chill transactions and lock in property owners. Structural reforms (replacing SDLT with an annual tax) could be fairer economically but are complex to implement and politically sensitive. 
  • Distributional optics. Targeting high-value homes is politically popular in some quarters, but any policy that hits “ordinary” homeowners in expensive areas (for example an annual property charge) risks backlash.

What to watch for in the Chancellor’s Budget

  1. Concrete changes to SDLT thresholds or bands — quick to deliver and politically visible. (Watch for first-time buyer tweaks).
  2. Announcements on CGT: reductions in AEA or rate rises would be signalled early; small tweaks are most probable.
  3. Proposals for a national property/wealth charge or enabling reviews of council tax reform — perhaps signalled rather than fully legislated in a single Budget. 
  4. Measures aimed at landlords — changes may be signalled (consultations) or small immediate measures (eg. tightening reliefs); large sudden levies would be disruptive.

Bottom line — who wins and who loses

  • Potential winners: first-time buyers if SDLT reliefs are restored or if mortgage costs fall; homeowners in lower-value regions if policy focus is targeted at high-value houses.
  • Potential losers: owners of high-value homes if PPR reliefs or new annual charges are introduced; small landlords if new taxes or NI on rental income are applied; tenants in tight rental markets if supply contracts.
  • Overall market: The unknow throughout most of 2025 has already causes a short-term dip in transactions, so post Budget we expect an upturn in house sales transactions but with house prices impacted in certain sectors.  

Final observation

The Treasury faces a classic policy trade-off: raising revenue and addressing perceived unfairness in the property tax system versus maintaining transactional fluidity and rental supply.

Over many years Government / Tax interventions in the house market have cause problems for ordinary people. Stamp duty cliff edges for larger properties and even first time buyer properties simply result in a distorted market and reduced mobility. As for an annual tax on properties valued at over £2.0m., well how does the Government think people are going to pay this out of already taxed income! Surely tax should mostly relate to salary / income and purchases in the wider economy. There has also been talk of doubling council tax on properties worth more than £750,000. All of these considerations would mean people spend less on their properties and this would have a massive negative impact on the wider economy.

Landmark Renters’ Rights Act Becomes Law

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McCarthy Holden property let image

Yesterday the Renters’ Rights Act received Royal Assent, delivering the most significant overhaul of the English and Welsh private rented sector in a generation. The law aims to rebalance rights between tenants and landlords by strengthening safety and security for renters, tightening standards for properties, and simplifying dispute resolution..

Key Measures

  • Abolishes ‘no-fault’ section 21 evictions entirely, replacing them with a clearer, limited set of grounds for possession and stricter notice periods.
  • Introduces a new Decent Homes standard for rented properties with mandatory repairs timelines and minimum energy efficiency requirements (EPC band C target for private rentals within a phased timetable).
  • Establishes a national landlord and letting agent registration and licensing regime with sanctions for rogue landlords, including fines, civil penalties and criminal sanctions for severe breaches.
  • Creates an independent Housing Ombudsman or expands an existing dispute-resolution body with powers to issue binding orders and compensation for tenants; fast-track arbitration for common disputes (repairs, deposits, unlawful eviction).
  • Strengthens protections for renters in private tenancies against retaliatory eviction and unfair rent increases by requiring justification and limits on frequency of increases.
  • Caps certain fees charged to tenants (administration, referencing, inventory) and reforms deposit handling and dispute timelines.
  • Extends possession and rehousing duties in limited circumstances, such as where poor conditions render properties uninhabitable; enhances support for vulnerable tenants facing eviction.
  • Provides funding and guidance for local authorities to enforce standards, and powers to issue Remedial Notices and take emergency remediation action.
  • Commits to data collection and reporting on the private rented sector to monitor impacts and a statutory review clause after a set period (often 3–5 years).

The Act signals a major policy shift toward tenants’ rights after years of campaigning by charities and tenant groups; ministers argue it will improve housing stability and standards, while many landlord bodies warn of reduced investment in the private rented sector and potential rent rises.

Operationally, the law places a new compliance burden on landlords and local authorities will need increased resources to enforce the regime.

As the new law bedrocks renters’ protections, its true test will be in implementation: whether enforcement is adequately funded, whether landlords adapt without shrinking supply, and whether renters actually see safer, more secure homes — not just stronger rights on paper.

It is expected that there will be a phased approach to a number of the changes, however, the creation of periodic tenancies and the abolition of Section 21 notices are expected to be at the forefront.

Footnote: If you have any questions or wish to discuss possible implications email Nicola Bremner ….

Nicola Bremner 598 449
Nicola Bremner - Email nbremner@mccarthyholden.co.uk

BBC Expose Questionable Estate Agency Practices

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BBC undercover agent

A wake-up call for anyone selling their home – Congratulations to the BBC for their recent Panorama investigation, which lifts the lid on how some corporate estate agencies appear to operate—putting profits before people.

The undercover report revealed troubling practices, including a recorded conversation in which an estate agency manager admits to prioritising buyers who use the agency’s in-house mortgage broker. Why? Because it earns them additional fees. In doing so, they compromise the interests of the very clients they’re meant to represent: the sellers.

Why This Matters

When you appoint an estate agent, you expect them to act in your best interest—not use your sale as a tool to cross-sell other services for their own gain. Sadly, the Panorama programme highlights that this isn’t always the case.
You can watch the full episode here:

🎥 Panorama: Undercover Estate Agent

Clients Should Experience A Different Approach

At McCarthy Holden, this type of behaviour would never be tolerated. As a proudly independent, family-run business, our priority is always our clients. We focus on agreeing sales with buyers who are ready to proceed—and negotiating the best possible price for you.

Our continued success is built on trust, transparency, and results. That’s why so many of our clients return to us time and again—and recommend us to others.

Corporate vs. independent: what’s the real difference?

Larger corporate estate agencies, by necessity, may often prioritise shareholder returns and balance sheets. And, as the BBC investigation shows, that financial pressure can sometimes take precedence over client needs.

As an independent agency, we answer only to you—our clients—and our reputation in the local community is everything. We don’t just want to sell your home; we want to do it the right way.

Thinking of selling?

At McCarthy Holden we do not have any ‘in house’ mortgage brokers or conveyancers and we concentrate on delivering traditional estate agency services focused on selling or letting a client’s property. Get in touch with our team and experience the difference an independent, customer-focused agency can make.

McCarthy Holden Fleet

Recruiting Experienced Personnel

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recruiting experienced personnel

McCarthy Holden is recruiting for experienced personnel across residential sales and residential lettings specialities, offering high level rewards in high performing branches.

Right now we are recruiting for experienced estate agents personnel across residential sales and residential lettings specialities, so if you are a manager, assistant manager or negotiator, then take a look at our immediate needs and consider sending your CV to us as soon as possible.

Experienced Sales & Lettings Personnel Wanted

Right now we are recruiting for experienced estate agents personnel across residential sales and residential lettings specialities, so if you are a manager, assistant manager or negotiator, then take a look at our immediate needs and consider sending your CV to us as soon as possible.

Job opportunities include positions such as manager / assistant manager level and negotiators, in offices currently based around Fleet, Hartley Wintney and Odiham in Hampshire.

We are offering high level rewards in high performing branches and we want people with sales and communication skills underpinned with attributes such as work ethic and a desire to succeed. Salary will be commensurate with experience and is comprised of basic salary plus commission.

As an independent, family run company, we have built our reputation based on honesty, integrity and a deep understanding of the local property market. As such, we are looking for additional team members who share our commitment to these values.

A summary of skill based and personality attributes for either residential sale s or residential lettings is as follows.

• Previous experience in residential sales or lettings estate agency.
• Excellent communication and interpersonal skills.
• A customer-first attitude with a strong focus on delivering high-quality service.
• A genuine interest in property and the local area.
• A full UK driving license.
• A self-motivated, proactive approach to work.

What To Do Next

If you would like to be considered for joining the McCarthy Holden team then please forward a cover letter with your application and CV as applications without this covering letter will not be considered.

Send your application to Jill Wood using her email jwood@mccarthyholden.co.uk

PHOTO JILL WOOD

We’re Recruiting

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Recruitment at McCarthy Holden

Right now we are recruiting for personnel across residential sales and residential lettings specialities, so if you already work in estate agency or, if your are in a service based career and looking for a change, then take a look at our immediate needs and consider sending your CV to us as soon as possible.

Some of the jobs available include the following potential opportunities.

Residential Sales

Our thriving residential sales business need more people who can excel at house sales and customer service.

Job opportunities include an exciting position for a Property Consultant / Sales Negotiator / Estate Agent to join their team, with offices currently based in Fleet, Hartley Wintney and Odiham. Possible candidates include people who may be an existing estate agent or people who are looking for a career change. We want people with sales and communication skills underpinned with attributes such as work ethic and a desire to succeed. Salary will be commensurate with experience and is comprised of basic salary plus commission.

photo of sold board
We Need More People To Achieve More Of This

Residential Lettings

We are considering expanding our busy residential lettings business and in preparation for this we want to talk to people who already work in the residential lettings sector. From trainees to managers we want to hear from you, especially those who are or soon to be ARLA qualified.

If you are thinking of a career move, then think about joining out lettings team.

McCarthy Holden People

As an independent, family run company, we have built our reputation based on honesty, integrity and a deep understanding of the local property market. As such, we are looking for additional team members who share our commitment to these values.

A summary of skill based and personality attributes for either residential sale s or residential lettings is as follows.

• Previous experience in estate agency is desirable, but definitely not essential.
• Excellent communication and interpersonal skills.
• A customer-first attitude with a strong focus on delivering high-quality service.
• A genuine interest in property and the local area.
• A full UK driving license and access to a car / your own vehicle.
• A self-motivated, proactive approach to work.

What To Do Next

If you would like to be considered for joining the McCarthy Holden team then please forward a cover letter with your application and CV as applications without this covering letter will not be considered.

Send your application to Jill Wood using her email jwood@mccarthyholden.co.uk

PHOTO JILL WOOD
Contact Jill Wood by email - jwood@mccarthyholden.co.uk
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