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  • Rent arrears cause landlords the most stress | Mortgages for Business
    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 Rent arrears cause landlords the most stress 26 05 15 Written by Jeni Browne Rental arrears are the main stressor for 87 per cent of British landlords closely followed by tenant complaints and property repairs In the research by Property Let By Us almost nine in ten landlords listed rent arrears as their main cause of stress while tenant complaints were named as a stressor by 80 per cent of landlords Repairs to properties could also cause distress according to 43 per cent of landlords while 40 per cent said they had been left feeling stressed by new immigration laws Unsurprisingly one third found tenant void periods induced stress and more than one quarter 28 per cent described the process of trying to access finance to expand their buy to let portfolio as stressful 25 per cent were worried or anxious about tax and Inland Revenue while 23 per cent said that they experienced stress because their partner failed to understand the level of work needed to manage multiple properties and lettings Landlords stressed by added responsibility Jane Morris Managing Director of Property Let By Us commented on the research by explaining that it is factors which add pressure and responsibility to landlords that cause stress over anything else She said increasing regulation and added responsibility were weighing heavy on the shoulders of landlords with problems such as finding new tenants low down on the list of stressors She described this

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/rent-arrears-cause-landlords-the-most-stress/ (2016-02-16)
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  • House building completions up 11pc | Mortgages for Business
    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 House building completions up 11pc 22 05 15 Written by Jenny Barrett More than 125 000 houses were built in the year to the end of March 11 per cent more than the previous year official figures show Data from the Department for Communities and Local Government reveals this is the highest level of building completions in a 12 month period since the end of 2009 Yet despite this the figures are still 29 per cent lower than their peak of 183 600 completions recorded for the year ending December 2007 Some 140 500 homes were started in the year to March 2015 marking a five per cent increase on the 12 months to March 2014 This is 24 per cent below the peak levels of 2007 but 86 per cent higher than the year to June 2009 when the impacts of the financial crisis were hardest felt The number of new builds started in the first quarter of this year is estimated at 40 300 up 11 per cent on the corresponding quarter one year ago while completions are projected at 34 040 and represent a 21 per cent annual increase The latest figures have been described by some industry professionals as encouraging for the market although momentum will be up to the new government In its manifesto the Conservatives housebuilding pledges for the next parliament included building 200 000 starter homes for first time buyers 275 000 additional affordable home and 10 000 homes to rent at below market rates England needs 230

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/house-building-completions-up-11pc/ (2016-02-16)
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  • Buy to let mortgage arrears down in Q1 | Mortgages for Business
    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 Buy to let mortgage arrears down in Q1 21 05 15 Written by Jeni Browne UK landlords are better off financially as total mortgage arrears and repossessions are down in the first three months of the year The latest figures from the Council of Mortgage Lenders CML reveals that declines were noticed in all arrears bands including across both buy to let and owner occupier lending 1 03 per cent of all mortgages were found to have arrears equating to more than 2 5 per cent of the total mortgage balance in Q1 2015 compared to 1 05 per cent for Q4 2014 and 1 24 per cent for Q1 2014 It means 113 900 loans are in arrears of which only 24 400 are classed as being in severe arrears at more than ten per cent of the balance just 0 22 per cent of all mortgages This marks the smallest proportion and number of mortgages in the most serious band since 2008 providing a positive outlook for the market Understanding payments is an essential part of any buy to let deal as landlords will need to know both what they can afford and what any potential costs are likely to be The Mortgages for Business buy to let mortgage calculator can aid with these calculations so that anyone considering buy to let is fully aware of the situation they are likely to face Fewer repossessions made in Q1 Repossessions were also down to 0 03 per cent in the first quarter of this year falling from 0 04 per cent at

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/buy-to-let-mortgage-arrears-down-in-q1/ (2016-02-16)
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  • CML confirms more buy to let mortgages advanced in March | Mortgages for Business
    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 CML confirms more buy to let mortgages advanced in March 20 05 15 Written by Jenny Barrett New figures reveal a 21 increase in the number of buy to let loans and a 35 increase in their value compared to one year ago The Council of Mortgage Lenders CML latest figures show there were 18 000 buy to let loans advanced in March totalling 2 7 billion The number of loans is up 12 on the previous month and 21 compared to March 2014 Remortgaging more prevalent than purchases Remortgages accounted for 9 400 loans worth some 1 4 billion up 15 from February and up 29 on March 2014 8 600 mortgages were for purchases up 8 on February and 13 the same time last year The value of these loans totalled some 1 2 billion Gross mortgage lending totalled 16 1 billion for the month of March up 18 from February and 5 higher than a year ago in March 2014 Q1 results In total 52 300 buy to let loans were advanced in the first quarter down 3 on the final three months of 2014 but up 15 when compared to the same period in 2014 These loans totalled 7 8 billion in value up 1 from the fourth quarter in 2014 and 28 higher than

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/cml-confirms-more-buy-to-let-mortgages-advanced-in-march/ (2016-02-16)
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  • Paragon Mortgages reveals strong 2015 growth | Mortgages for Business
    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 Paragon Mortgages reveals strong 2015 growth 19 05 15 Written by Steve Olejnik Paragon Mortgages parent company has unveiled solid growth for the period ending 31 March 2015 with underlying profits up by ten per cent The Paragon Group of Companies reported underlying profits of 63 9 million for the period from September to March the first six months of the company s financial year compared to just 57 9 million a year previously Lending with Paragon Mortgages totalled 446 2 million up 65 7 per cent on the same period a year ago with further growth expected throughout 2015 701 4 million worth of applications were reported for 31 March and represented a massive 101 5 per cent growth on those announced 12 months earlier valued at 348 1 million John Heron Director of Paragon Mortgages described it as a fantastic start to the year and suggested the firm is very well placed for the coming months We have seen a marked increase in our application levels as a result of Paragon delivering a broader and more competitive proposition to the buy to let market he said He suggested this increase is the result of the firm s strategy to expand and diversity its funding capability and said that tapping into the Euro market had given the group access to a much deeper investor base than is possible with sterling alone The firm also successfully launched Paragon Bank during this period providing

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/paragon-mortgages-reveals-strong-2015-growth/ (2016-02-16)
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  • Fleet Mortgages increases end term max age to 85 | Mortgages for Business
    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 Fleet Mortgages increases end term max age to 85 18 05 15 Written by Jenny Barrett Fleet Mortgages has increased its upper age limit to 85 years at the end of the mortgage term up from its previous limit of 75 years The move is sure to be welcomed by older residential property investors whose choice of buy to let mortgage products is limited because the majority of lenders impose a maximum age of 75 years on maturity of the loan Commenting on the change in criteria Bob Young Chief Executive of Fleet Mortgages said Fleet Mortgages is also committed to evolving and enhancing our criteria in order to ensure it is fit for purpose in a changing marketplace this why we have increased our maximum customer age at the end of loan up from 75 to 85 years old He went on to explain We recognise for instance that people are living longer that landlords want to hold their properties longer into retirement plus there is a growing appetite amongst people over 50 wanting to invest in property Since launch close to 50 of all our applications are from borrowers over 50 Fleet now joins the likes of Keystone Buy to Let Mortgages Foundation Home Loans Aldermore and Kent Reliance which all have upper age limits of 85 years

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/fleet-mortgages-increases-end-term-max-age-to-85/ (2016-02-16)
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  • Low entry costs drive buy to let activity in the North | Mortgages for Business
    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 Low entry costs drive buy to let activity in the North 15 05 15 Written by Steve Olejnik Data analysis by Savills shows low entry costs have put Northern cities on UK s list of top ten buy to let hotspots Newcastle Peterborough and York could all offer good levels of returns for buy to let investors as regions outside London and the South East expect faster rates of growth in coming months The highest return on capital growth over the last 12 months was noted in York while Guildford Woking Cambridge and St Albans also noted strong performance Other locations reporting decent returns and featuring on the top ten list of UK buy to let hotspots include Bath and North East Somerset Norwich Cardiff and Solihull The only London region to make the list was Kensington and Chelsea coming eighth Location location location As location can be a major influence on investment returns when dealing with property Savills analysis holds great importance for buy to let landlords Those who enjoy higher yields have more money to live on themselves and potentially more cash to invest in further properties In this regard some northern regions performed strongly once again Although London s Greenwich topped the list for high yields Peterborough Newcastle Leeds and Salford weren t far behind An added bonus with properties in these areas is that entry costs are considerably lower than in the capital giving property investors the potential to achieve greater profits The residential investment focus is likely to shift to the regional cities where in comparison to London the cost

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/low-entry-costs-drive-buy-to-let-activity-in-the-north/ (2016-02-16)
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  • Rental value of new tenancies up 10 per cent on last year | Mortgages for Business
    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 Rental value of new tenancies up 10 per cent on last year 14 05 15 Written by Jenny Barrett The latest HomeLet Rental Index reports strong annual growth in value of new tenancies and tenant income The average rent for a tenancy sign in the three months to April 2014 was 916 marking an increase of 10 per cent on figures for the same period a year ago When London is not included in the figures average rents rose 7 4 per cent to 730 with annual growth noted in every region except Wales where rents fell by 0 7 per cent to 573 Scotland s rents rose 6 2 per cent to 635 while Northern Ireland noted 5 2 per cent growth to 594 In London average rental values for a new tenancy were 1 436 per month making them 100 more expensive than at the same point last year Growth rates in Greater London have now converged with national rates at 7 5 per cent while the South West noted the highest annual growth at 15 5 per cent Rents were also up in East Anglia the West Midlands and the South East by 8 4 per cent 7 9 per cent and 7 4 per cent respectively Growth of between 3 4 per cent and 4 3 per cent was seen in Yorkshire and Humber the North East the North West and the East Midlands For the first time we are seeing rent price growth rates in Greater London

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/may/rental-value-of-new-tenancies-up-10-per-cent-on-last-year/ (2016-02-16)
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