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  • Scotland offers some of the best buy to let returns | Mortgages for Business
    to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Scotland offers some of the best buy to let returns 26 06 15 Written by Jeni Browne Parts of Scotland experienced record levels of rental growth in May boosting the returns on offer for buy to let landlords Glasgow saw the highest rate of growth at 5 7 per cent for the 12 months to May according to the latest Scotland Buy to Let Index from Your Move Average rents north of the English border were up by one per cent on a monthly basis which compares favourably to a rise of 0 1 per cent across the last six months The level of uplift in May is the strongest on record and means Scotland has experienced the quickest annual rental price rises for nine months Scotland s largest city Glasgow and the surrounding Clyde region saw rents increase to 566 providing a significant boost to the returns available to investors Buy to let annual returns have soared in the past year from 8 9 per cent 12 months ago to 17 3 per cent in the year to May That represents an increase of 95 per cent making Scotland an attractive proposition for locals considering buy to let investment Double digit total annual returns are a great bonus for

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/scotland-offers-some-of-the-best-buy-to-let-returns/ (2016-02-16)
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  • Number of elderly landlords on the increase | Mortgages for Business
    Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Number of elderly landlords on the increase 25 06 15 Written by Jenny Barrett A growing number of people are viewing property as the best way to save for retirement according to new official figures The Office for National Statistics ONS revealed that 42 per cent of a study of 20 000 households were considering buy to let as a way of generating retirement income This represents a jump from 32 per cent in 2010 and reflects changing views towards buy to let in the wake of pension withdrawal changes in April this year According to experts more people in their forties and fifties are planning to live off the rental income that they receive from buy to let property They suggest this will support a move towards a nation of older landlords although there are plenty of factors that need to be considered before investing in property The number of buy to let products has increased by 15 per cent in the last two months following the reforms while around 1 billion has been withdrawn by an estimated 60 000 people so far It is highly likely that some of this money has been accessed with buy to let in mind added Charlotte Nelson of Moneyfacts Some buy to let mortgages are now issued where the borrower could be as old as 105 years although these are not widely available and carry hefty deposits The ONS revealed that property is second only to company

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/number-of-elderly-landlords-on-the-increase/ (2016-02-16)
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  • First time landlords benefit from more buy to let deals | Mortgages for Business
    to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight First time landlords benefit from more buy to let deals 24 06 15 Written by Steve Olejnik First time landlords can access 13 per cent more mortgage deals now than when pension reforms were introduced at the start of April new data has revealed Moneyfacts data shows that 664 mortgage products are now available to first time landlords meaning that more people have freedom to spend their pension pots how they wish That compares favourably to the 574 products that were available in April and to the 396 deals that could be found two years ago Charlotte Nelson spokesperson for Moneyfacts revealed that 60 000 pensioners were believed to be taking advantage of the changes and said it is likely that some would opt to withdraw money in order to make a property investment purchase Savings rates are currently so poor that many are looking elsewhere to fund their retirement she explained Mortgage lender Kensington had previously suggested at a roadshow in April that a wall of cash would make its way towards the buy to let market Meanwhile a survey from the lender revealed an appetite for buy to let among those aged 40 years or over but showed that a lack of understanding was still prevalent While 45 per cent of pension savers were considering buy to let 32 per cent said

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/first-time-landlords-benefit-from-more-buy-to-let-deals/ (2016-02-16)
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  • UK rents are on the rise, but so are tenant incomes | Mortgages for Business
    Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight UK rents are on the rise but so are tenant incomes 23 06 15 Written by Jenny Barrett Rental values for the three months to May were up 10 7 per cent on last year with tenant income also growing to improve affordability The HomeLet Rental Index for May revealed that annual growth was up considerably from 2014 and 2013 with increases of 7 7 per cent and 2 7 per cent noted respectively Although rents are on the rise tenant incomes also increased by 2 4 per cent in the three months to May 2015 compared to the same period a year ago Rents for new tenancies in London are up 9 2 per cent compared to last year and monthly rental values were 124 more up from 1 348 per month in 2014 to 1 472 per month in 2015 When considering national rents for the three months to May average rental values were up across all 12 regions of the UK This provides a boost for buy to let landlords and investors as higher rental returns can be coupled with increased capital appreciation to improve the overall returns available With London excluded average values climbed 7 6 per cent for the three month period up from 686 per month a year ago to 738 Annual and monthly comparisons On an annual rather than quarterly basis UK rents in May rose to 960 which represents a 12 5 per cent increase from a year ago Average rental values for the UK overall with London excluded amounted

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/uk-rents-are-on-the-rise-but-so-are-tenant-incomes/ (2016-02-16)
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  • Should landlords sacrifice buy to let tax breaks? | Mortgages for Business
    0845 345 6788 Share News Insight Should landlords sacrifice buy to let tax breaks 22 06 15 Written by Jeni Browne Debates over whether buy to let landlords should still benefit from tax breaks which accounted for 14 billion in 2013 continue in the face of austerity Ian Cowie writing in the Sunday Times revealed that he is breaking the habit of a lifetime by pushing for tax rises rather than a cut Named financial commentator of the year at the recent Headlinemoney awards he questioned whether it is finally the right time to look at the buy to let market At a time of austerity when cuts must be made in many areas we may wish to support this raises serious questions about whether investors in bricks and mortar should continue to receive unlimited mortgage interest relief 15 years after it was withdrawn from homeowners he wrote It is suggested that landlords receive tax breaks in the region of 10 billion and Mr Cowie s call comes ahead of the extra Budget announcement due from Chancellor George Osborne on July 8th Mr Cowie suggests that the situation could trap people in the rental sector and that lowering tax deductible expenses could bring about improvements Among the deductible expenses that can be claimed by buy to let landlords are mortgage broker and arrangement fees letting agent fees any tenant management costs mortgage interest and insurance premiums for buildings and contents cover Other costs including those relating to managing a buy to let such as maintenance providing furniture service charges council tax during void periods also fall into this category Campaigning charity Shelter has suggested that tax breaks for the financial year in 2012 2013 amounted to 14 billion with 6 3 billion of this a tax relief against the cost

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/should-landlords-sacrifice-buy-to-let-tax-breaks/ (2016-02-16)
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  • Private sector rents hit new high | Mortgages for Business
    the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Private sector rents hit new high 19 06 15 Written by Steve Olejnik Tenants paid an average of 778 a month on rent in England and Wales this May representing a new high for the property market According to the latest buy to let index by Your Move and Reeds Rains substantial increases in rental charges were noted across various regions as landlords sought greater returns on their investments The East of England experienced particularly sharp rental growth with monthly costs surging 13 per cent in the last year This is the largest annual increase which the region has recorded since data first started to be collected back in 2008 at the time of the recession Elsewhere in the country and London also noted unsurprisingly high rates which had undergone a 7 4 per cent annual increase while the affluent South East posted growth rates of 3 6 per cent On average tenants living in England s East paid 819 per month in May 2015 while those in the capital faced average rents of 1 207 per month Elsewhere in the country and growth was more subdued with the South West of England Yorkshire and the Humber the West Midlands and England s North West experiencing modest growth of between 0 9 per cent and 1 6 per cent Areas to experience negative growth included Wales the East Midlands and the North East where rents declined by 2 8 per cent 0 8 per cent and 0 4 per cent respectively Although Adrian Gill Your Move and Reeds Rains Director said that improved household incomes made tenants better able to cope with the rental increases which are partly driven by lack of choice amongst rental

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/private-sector-rents-hit-new-high/ (2016-02-16)
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  • Are HMOs the answer to mortgage woes? | Mortgages for Business
    to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Are HMOs the answer to mortgage woes 18 06 15 Written by Jenny Barrett Houses in Multiple Occupation HMOs could solve mortgage woes by offering both tenants and landlords more lucrative opportunities In a new survey on mortgages around 50 per cent of first time buyers said they expect to still be paying off their house purchase when they re retired As well as viewing mortgages as long term debts the poll of 25 34 year olds also found that 27 per cent of individuals anticipate difficulty obtaining such a product in the first place Credit histories income levels and age were all factors which those questioned felt might count against them when borrowing to purchase a home and left them expecting a lifetime of repayments Yet despite this low confidence a possible remedy to mortgage woes could be found in HMOs which offer a more lucrative financial situation to both tenants and property owners Where do HMOs fit in According to data concerning the average deposit for a first time buyer 20 600 tenants who live in HMOs could secure the necessary funds much quicker than those who rent privately This could improve their chances of getting on the property ladder earlier in life and even help prevent a lifetime of mortgage repayments that extend well into retirement Platinum Property Partners who made the calculations said professional tenants can save around 308 per month in a house share compared to just 174 in a privately rented one bedroom flat This equates to a difference of 77 per cent

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/are-hmos-the-answer-to-mortgage-woes/ (2016-02-16)
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  • House purchase lending experienced 16 per cent monthly growth in March | Mortgages for Business
    Jeni Browne Recent figures from the Council of Mortgage Lenders CML show Q1 experienced considerable growth in house purchase lending with a 16 per cent rise month on month in March The data which defined trends via buy to let first time buyer home mover and re mortgaging activity considered the overall state of lending in the UK and noted increases across all sectors Although activity remained relatively subdued Paul Smee the CML s Director General said the market had started to get out of the dip from March Buy to let Buy to let loans experienced a 12 per cent monthly rise and 21 per cent annual rise while their total value some 2 7 billion was 13 per cent and 35 per cent greater by the same comparisons Expanding to look at Q1 as a whole buy to let accounted for 18 per cent of gross lending in the highest proportion ever reported Although buy to let home purchase loans were down eight per cent on Q4 2014 they were six per cent higher than Q1 2014 with a value of 3 3 billion Buy to let re mortgaging loans were worth 4 2 billion unchanged from the previous quarter but 29 per cent higher than a year ago First time buyer First time buyers took 23 000 loans in March 2015 up 20 per cent from the month before but down five per cent from a year previously The value of loans was up across all comparisons though totalling 3 4 billion to represent a 21 per cent increase from February 2015 and three per cent increase from March 2014 Typical first time buyer loan sizes also dropped to 122 794 in Q1 2015 from 124 450 in Q4 2014 Home mover Home movers secured 14 per

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/june/house-purchase-lending-experienced-16-per-cent-monthly-growth-in-march/ (2016-02-16)
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