28% of large letting agencies with 11+ staff are failing to perform mandatory PEPs and sanctions checks, according to research from Goodlord.

Several London postcodes, including Kensington and Chelsea and Westminster, have seen property prices decline, leaving some sellers exempt from CGT.

The acquisition is intended to expand Persimmon’s strategic land pipeline in attractive locations.

Under proposed changes, estate agents will need mandatory qualifications, with the government also to implement an industry code of practice.

Selected two-year fixed Specialist, Holiday Let, and Ex-pat products also received a 10bp reduction.

The new holiday let range expands Vida’s specialist BTL offering.

Foundation Home Loans has reduced two- and five-year fixed rate holiday let products by 0.10%, with five-year fixes now starting at 6.24%.

Economist Paul Johnson cautions that increasing costs for landlords could lead to fewer landlords and higher rents.

Long-term London property owners are achieving the highest capital gains in Great Britain, according to Zoopla's latest report.

Planning permission included converting the main building into a large dwelling and building three detached executive homes.