UK Property

Local authorities across England have called on the government to give them more powers to deal with empty properties and holiday homes, as cash-strapped councils turn to new methods to combat growing housing pressures. Councils from London to Leeds are pursuing council tax premiums, providing grants for property refurbishment, working with genealogists to identify unknown owners and exploring innovative legal means to take control of empty homes.Housing secretary Michael Gove singled out the issue of empty homes in the government’s recently passed Levelling Up and Regeneration Act, which allows councils to...

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Barclays and Santander have announced cuts to their mortgage rates, adding to momentum for cheaper UK home loan deals after HSBC and Halifax reduced rates last week. Santander led its announcement with a sub-4 per cent deal available to new and existing customers with a deposit of at least 40 per cent on a five-year fixed rate mortgage. It said its residential fixed rates would fall by up to 0.82 percentage points from...

Stay informed with free updatesSimply sign up to the UK property myFT Digest -- delivered directly to your inbox.The US developer behind a Las Vegas-style Sphere in London’s former Olympic Park has withdrawn its plans after the UK capital’s mayor decided to block the music venue.In a letter to the Planning Inspectorate, a government agency, Madison Square Garden Entertainment (MSG), which is owned by US tycoon James Dolan, said it would not “continue to participate in a process that is merely a political football between rival parties”.Sadiq Khan, mayor of...