The prospects of further interest rate rises in the UK are high. The Bank of England has already raised interest rates five times since December 2021, and it is widely expected to raise them again in the coming months. This is because inflation in the UK is currently at a 30-year high, and the Bank
Property prices in the UK have been falling for several months, as the cost of living crisis and rising interest rates have squeezed buyers. The average price of a home in the UK fell by 0.5% in February, according to Nationwide Building Society, taking the annual rate of decline to 1.1%. This is the largest
Fraudsters are a major concern for the property rental market in the UK. They use various tactics to swindle both landlords and tenants out of their money. One of the most common techniques is the use of fraudulent documents in tenancy applications. In this article, we will explore how fraudsters are using these documents and
Open banking can be used in tenant referencing to provide a more accurate and efficient way of assessing a tenant’s financial standing and creditworthiness. With open banking, tenants can give their prospective landlords or letting agents access to their financial data, including their bank statements and transaction history, through a secure API. By using open
Property Reporter says that £82.7 billion worth of UK property is being let to criminals. That’s 5% of current housing stock. Tenant fraud is a growing problem in the rental industry, and one of the most common forms of fraud is the submission of fraudulent documents including fake IDs, payslips, utility bills and bank statements.