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Kinetic Money, Grosvenor House, Birmingham (2026)

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20/06/2025

𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗖𝗮𝗹𝗹 𝗳𝗼𝗿 𝗖𝗹𝗮𝗿𝗶𝘁𝘆 𝗼𝘃𝗲𝗿 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟮𝟭 𝗘𝘃𝗶𝗰𝘁𝗶𝗼𝗻𝘀

Despite the serious implications of dismantling Section 21 evictions, the government remains conspicuously vague on how it intends to equip the judicial system for the coming shift—an omission that has drawn the ire of major property industry stakeholders.

In a joint letter to Baroness Taylor of Stevenage, Minister in the House of Lords, three prominent industry bodies—the British Property Federation, the National Residential Landlords Association (NRLA), and The Lettings Industry Council—have voiced mounting concerns over the government's lack of preparation and transparency.

With the House of Lords set to revisit the Renters’ Rights Bill on July 1st, a piece of legislation that promises to bring an end to “no-fault” evictions, tensions are escalating. The bill’s lofty ambitions are clashing with a judicial system already buckling under pressure. Currently, landlords pursuing “at fault” Section 8 evictions often endure delays stretching beyond half a year, especially in cases involving tenants who have ceased rent payments altogether.

Although the government previously committed to ensuring that the courts would be “ready” to absorb the additional caseload such reforms would generate, it has not articulated what that readiness entails in any practical sense—nor how it will be achieved.

Ben Beadle, Chief Executive of the NRLA; Melanie Leech, Chief Executive of the British Property Federation; and Theresa Wallace, Chair of The Lettings Industry Council, stated in unison: “We remain extremely disappointed by the lack of substantive responses to the concerns we have consistently raised with ministers.

“We want the Bill to work in practice and enjoy the confidence of good landlords. However, unless clear answers to the issues we have raised are forthcoming from the government, those very landlords have every reason to be concerned.”

Their criticisms do not end with court readiness. The coalition of property leaders also raised red flags about another controversial proposal within the Bill—empowering tenants to contest rent hikes they believe exceed market value through a tribunal. In theory, it may seem fair. In practice, the absence of a centralized, reliable dataset to define local market rents renders the mechanism impractical and potentially chaotic.

Further complicating matters is the government’s silence on its intention to curtail landlords’ ability to regain possession of properties in scenarios where tenants experience delays in benefit payments. Currently, landlords are kept in the dark about whether a tenant is claiming benefits—a structural opacity that only becomes apparent once a possession case reaches court. This blind spot leaves landlords vulnerable, while simultaneously increasing the likelihood of costly and prolonged litigation.

Lastly, and perhaps most crucially for operational clarity, there remains a troubling absence of detail regarding the timeline for implementing the reforms once the Bill receives Royal Assent. According to the signatory organisations, establishing a “smooth transition” is not merely desirable—it is imperative.

19/06/2025

𝗕𝗮𝗻𝗸 𝗼𝗳 𝗘𝗻𝗴𝗹𝗮𝗻𝗱 𝗛𝗼𝗹𝗱𝘀 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗮𝘁𝗲 𝗮𝘁 𝟰.𝟮𝟱%, 𝗖𝗶𝘁𝗲𝘀 𝗟𝗮𝗯𝗼𝘂𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗮𝗻𝗱 𝗚𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝗥𝗶𝘀𝗸𝘀

The Bank of England (BoE) held its main interest rate at 4.25% on Thursday, as expected. The Monetary Policy Committee (MPC) highlighted concerns about a weakening labour market and elevated energy prices linked to geopolitical developments in the Middle East.

The decision to maintain the current rate came amid ongoing global uncertainty and persistent inflationary pressures. The MPC voted 6–3 in favour of holding rates steady. Deputy Governor Dave Ramsden joined external members Swati Dhingra and Alan Taylor in supporting a 25 basis point cut.

A Reuters poll of economists had forecast a 7–2 vote to hold rates following the BoE’s decision last month to reduce borrowing costs. That move marked the fourth rate cut since August 2024.

"Interest rates remain on a gradual downward path," said BoE Governor Andrew Bailey. However, he noted that monetary policy decisions were not predetermined. "The world is highly unpredictable. In the UK we are seeing signs of softening in the labour market. We will be looking carefully at the extent to which those signs feed through to consumer price inflation," he added.

While recent tensions in the Middle East were not the main factor in the MPC's June decision, the BoE indicated it would monitor the situation closely.

"Energy prices had risen owing to an escalation of the conflict in the Middle East. The committee would remain vigilant about these developments and their potential impact on the UK economy," the Bank said in a statement.

The majority of economists expected the Bank Rate to remain unchanged at 4.25%. A majority also anticipate a rate cut in August, followed by another before the end of the year.

Market expectations are currently pricing in two additional quarter-point cuts by the BoE, which would bring the rate to 3.75% by December 2025.

The Bank maintained its forward guidance, reaffirming that it would continue to take a "gradual and careful" approach to further monetary easing.

In its accompanying analysis, BoE staff presented a less negative view of the potential impact of U.S. President Donald Trump’s trade tariffs. They suggested the global economic effects might be less severe than projected in May, although trade-related uncertainty remains a factor for the UK economy.

Inflation forecasts were broadly unchanged, with a projected peak of 3.7% in September and an average of just under 3.5% over the second half of the year.

The Bank now expects the UK economy to grow by approximately 0.25% in the second quarter, a modest improvement on its May forecast. However, it noted that underlying growth remains subdued.

Since mid-2024, the BoE has reduced its interest rate by a full percentage point. This mirrors the U.S. Federal Reserve, which on Wednesday kept its rate in the 4.25%–4.50% range. The European Central Bank (ECB), facing less persistent inflation, has cut rates by twice that amount.

Market participants expect the Fed to deliver an additional half-point of easing by year-end, and the ECB to implement a further quarter-point cut.

Earlier on Thursday, the Swiss National Bank reduced its policy rate by 25 basis points to zero, citing declining inflationary pressures and increasing concerns about the impact of global trade tensions on inflation and economic activity.

18/06/2025

𝗜𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗦𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗗𝗼𝘄𝗻 𝗯𝘂𝘁 𝗡𝗼 𝗖𝗵𝗮𝗻𝗴𝗲 𝘁𝗼 𝗕𝗼𝗘 𝗥𝗮𝘁𝗲 𝗘𝘅𝗽𝗲𝗰𝘁𝗲𝗱

Inflation in the United Kingdom eased in May, aligning with the Bank of England’s projections, as policymakers brace to maintain current interest rates amidst a turbulent geopolitical backdrop marked by intensifying hostilities in the Middle East. While financial markets steadied for the BoE’s decision, the economic undercurrents remain anything but calm.

According to the Office for National Statistics, consumer prices grew by 3.4% year-on-year, precisely as anticipated by a Reuters economist survey. This data, though unsurprising, comes at a difficult moment. It is not expected to change prevailing expectations: analysts and investors remain convinced that Thursday’s policy announcement will bring no rate adjustment.

The pound edged slightly higher against the U.S. dollar following the data’s release—a modest signal in an otherwise restrained market response.

With the conflict between Israel and Iran now stretching into its sixth day and global oil prices surging more than 14% in just over a week, the Bank’s already-cautious tone is likely to become even more deliberate.

“The focus now will turn to geopolitical events and the rise in energy prices,” noted Sanjay Raja, Deutsche Bank’s chief UK economist. “This will undoubtedly complicate the (BoE's) task. Higher energy prices will mean higher inflation expectations.”

Yet even as global energy costs stir inflationary fears, domestic signals offer a glimmer of restraint. Britain’s cooling labour market, Raja suggested, may help counterbalance the pressure. A fragile equilibrium, perhaps—but one the BoE will be keenly watching.

Of particular interest to the central bank is services price inflation, which receded to 4.7% in May from 5.4% in April, right in line with BoE forecasts and just under the 4.8% median forecast from Reuters. Moreover, the Bank took note of its core inflation measure—a refined index that excludes food, energy, rents, and holidays—which dipped below 4% for the first time since February 2022. Encouraging, certainly—but not without caveats.

Earlier this month, the ONS acknowledged a misstep: April’s CPI figure of 3.5% had been overstated due to flawed car tax data. Although the official record remains unchanged, corrected figures were baked into May’s calculation. Notably, airfare costs plummeted, reversing a sharp Easter-driven increase in April.

Still, volatility remains. In April, rising costs for utilities—gas, electricity, and water—combined with heavier employer tax burdens, pushed inflation up sharply from 2.6% in March. Meanwhile, food prices climbed 4.4% year-on-year in May, the steepest rise in more than twelve months, dealing a particular blow to lower-income households.

Goods inflation accelerated too, advancing 2.0%, the fastest pace since November 2023.

Not everyone inside the BoE is singing from the same hymn sheet. Some officials dispute a critical assumption made at the May meeting: that the recent uptick in inflation is unlikely to embed itself into broader pricing behaviour. It would appear that dissent lingers below the surface.

Markets remain resolute. As of Wednesday, traders priced in an 89% probability that the BoE would stand pat this week. Nonetheless, two 25-basis-point rate cuts are still anticipated before year’s end.

Back in May, the central bank executed a quarter-point rate reduction, bringing the benchmark rate to 4.25%, though the decision was far from unanimous. It was a three-way split: two MPC members pushed for a deeper cut, while two others—including the influential Huw Pill—argued for no change at all.

At that time, the BoE forecast inflation would top out around 3.7% later in the year. Some economists, however, suspect April may already have marked the peak—unless, of course, the Middle East conflict injects fresh momentum into price growth.

17/06/2025

𝗙𝗶𝘃𝗲 𝗔𝗴𝗲𝗻𝘁𝘀 𝗘𝘅𝗽𝗲𝗹𝗹𝗲𝗱 𝗯𝘆 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗢𝗺𝗯𝘂𝗱𝘀𝗺𝗮𝗻

Three estate agents alongside two letting agents have been expelled from The Property Ombudsman scheme for their failure to honour compensation awards owed to consumers.

The companies now publicly named and disgraced include Prime Property Agents, Cowlings Estate Agents, Nexmove, The Jolly Landlord, and Lilypad Estates London.

This expulsion has triggered notifications to both local and national Trading Standards, as well as to major property portals, as part of the formal process.

Lesley Horton, interim ombudsman of The Property Ombudsman, spoke on the gravity of these actions: “Expulsion is a last resort and that’s evident in the low numbers.

“We always strive to be very clear and explain the evidence that has led to our decisions and any award we make, both to businesses and to consumers.

“This approach works well, with 99% of businesses complying with our decisions and paying awards when directed.

“We also highlight where agents can improve their service and proactively carry out audits to check that they are following best practice and regulations.”

Among the cases, Prime Property Agents, based on Clarendon Street in Nottingham, failed to return a buyer’s £7,200 reservation fee after the sale collapsed. Rather than adhering to their own terms and conditions, the agency neglected to offer any alternative properties or reimburse the buyer fully. The Property Ombudsman consequently awarded the buyer £7,400—comprising the full reservation fee plus £200 for distress caused.

In another instance, Cowlings Estate Agents, located on The Quay in Bideford, Devon, were ordered to compensate £1,087 after neglecting to verify proof of funds for a property sale. This oversight led to the sellers withdrawing from the deal. The agent had incorrectly confirmed in the Memorandum of Sale that the buyer was cash-ready, only for sellers to discover that financing was still being arranged. When renegotiated terms failed, the sale fell through, and The Property Ombudsman upheld the complaint, awarding compensation to cover the sellers' incurred costs.

Nexmove, officially registered as NXMVETGN Ltd and operating on Den Road in Teignmouth, Devon, similarly failed to disclose the source and availability of a buyer’s funds until after the sale failed. Without making reasonable inquiries into the buyer’s funding, the agent inaccurately assured sellers that the buyer was purchasing with cash. As a result, The Property Ombudsman ordered a £400 award.

The Jolly Landlord, situated on Dunnings Lane in Bulphan, Essex, became embroiled in a dispute for not transferring a tenant’s deposit and first month’s rent to the landlord. The Ombudsman’s investigation concluded that these actions directly caused the landlord to terminate their management agreement with The Jolly Landlord and seek to end the tenancy agreement. Despite the tenancy still being technically active and the landlord not attempting to retrieve funds from the agent directly, £350 was awarded to the tenant to compensate for the unnecessary stress and inconvenience.

Lastly, Lilypad Estates London, operating from Honor Oak Park in Forest Hill, withheld eight months of rental payments from a landlord and ceased all communication. After the dispute was fully examined and upheld, the agent was ordered to pay a £200 award plus the outstanding rent.

These firms were subsequently referred to The Property Ombudsman’s Compliance Committee, which decided on their expulsion from the scheme. So far, nine businesses have faced expulsion in 2025 alone.

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Wednesday	9am - 5:30pm
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