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  • London landlords enjoy 27.4pc higher rents than five years ago | Mortgages for Business
    Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight London landlords enjoy 27 4pc higher rents than five years ago 27 04 15 Written by Steve Olejnik Rents in the capital are considerably higher now than before the last General Election providing landlords with more opportunity for profit The latest Buy to Let index from Your Move and Reeds Rains revealed that rents have increased by 27 4 per cent in the last five years This is significantly above the rate of Consumer Price Inflation CPI which increased by 11 6 per cent over the same period The national average for rent also rose by 15 2 per cent since the last General Election leaving average rents for England and Wales at 768 in March That figure was higher still in London where the average monthly rent totalled 1 177 to reflect growing demand for property in the capital and across the country Adrian Gill Director of Your Move and Reeds Rains suggested the rental sector is carrying the weight of the housing crisis and urged action to address supply issues Without more homes every year to match a rising population housing will inevitably become more expensive Over the next five years politicians of all stripes can t just hope that this problem will go away Britain needs more homes and over the long term investment by landlords will only provide places to live as quickly as those homes are given planning permission and completed Election promises The leading political parties have all outlined promises ahead of the General Election to tackle issues of supply and demand in the housing market Blue The Conservatives plan to extend the Right to Buy scheme to 1 3 million

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/london-landlords-enjoy-274pc-higher-rents-than-five-years-ago/ (2016-02-16)
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  • Buy to let mortgage prices begin to even out | 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 Buy to let mortgage prices begin to even out 24 04 15 Written by Jenny Barrett Mortgage rates for buy to let landlords have begun to stabilise according to the Buy to Let Mortgage Product Index published by Mortgages for Business Between February and March this year average rates for both fixed and tracker buy to let mortgages hardly moved suggesting that heated competition on price between lenders might have come to an end Commenting on the data in the Buy to Let Mortgage Product Index for March 2015 Jeni Browne Head of Buy to Let and Regulated Lending at Mortgages for Business said Lenders are tinkering around the edges on price and there are some really great deals out there from the mainstream buy to let lenders and the specialists The new lenders too have come into the market with some favourable rates and criteria that will benefit new part time and more full time landlords Full time landlords those whose income is derived solely from rent often go for non standard higher yielding properties such as Houses in Multiple Occupation HMO blocks of flats and semi commercial properties They also tend to have more complex circumstances which means that they don t always fit the profile of the mainstream lenders Jeni went on to say Whilst more complex scenarios do cost more pricing is probably the best it s been amongst the specialist lenders We are in constant communication on cases with the likes of Landbay Fleet Mortgages and of course Axis Bank with whom we are currently running a pilot before they

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/buy-to-let-mortgage-prices-begin-to-even-out/ (2016-02-16)
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  • Property investors enjoy increased rents for newly-let properties | Mortgages for Business
    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 Property investors enjoy increased rents for newly let properties 21 04 15 Written by Jeni Browne Newly let properties achieved 4 5 per cent higher rents in Q1 2015 equivalent to 894 per month according to research Providing greater returns for landlords and investors rents in Q1 2015 outperformed those from the final quarter of 2014 when the average charge to tenants was 853 per month The latest figures from Countrywide s latest Quarterly Lettings Index are representative of high demand between January and March this year and saw rental costs for one and two bedroom homes rise by 0 8 per cent and 0 4 per cent respectively equating to average monthly costs of 730 and 817 In total newly let properties attracted 4 5 per cent higher rents in January March 2015 when compared to October December 2015 putting the average rental cost at 894 per month Substantial increases These overall increases were not representative of constant month on month growth however as substantial increases were seen between February and March In that period rents rose by 1 6 per cent for three bedroom homes and by 16 4 per cent for four bedroom properties while two bedroom homes maintained stable rents and one bedroom properties were actually 1 4 per cent cheaper As well as month on month differences the index also found location affected rental values Rents in the south east of England fell by 1 9 per cent during Q1 to an average of 1 097 per month while rents in London rose 3 1 per cent to 2 561 per month

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/property-investors-enjoy-increased-rents-for-newly-let-properties/ (2016-02-16)
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  • Risk factor puts homeowners off peer-to-peer lending | Mortgages for Business
    lending 18 04 15 Written by Jenny Barrett Risk of losses is the main factor deterring many homeowners from considering peer to peer lending new research has revealed A survey of 2 000 homeowners by YouGov on behalf of buy to let peer to peer platform Landbay revealed that 42 per cent are put off by the perceived risks attached to such options Despite this younger generations were found to be more open towards taking risks as 28 per cent of people aged 25 34 years cited it as an issue compared to 46 per cent of those aged 55 or above Raising awareness The survey also revealed a need to raise awareness of peer to peer lending options as 22 per cent of those questioned did not know it existed while 17 per cent were unsure of how it works Despite this one in twenty people invested through peer to peer platforms with one in three investing up to 999 One fifth of those questioned invested 5 000 or more into peer to peer lending perhaps seeing it as a more flexible solution to more traditional buy to let options The study recognised a divide between those investing at either end of the spectrum those trying out the platforms and those who invest heavily with a sound knowledge of how it works Understanding the options available At Landbay we re open and up front about the risks involved on our platform but we re equally open about the unique range of protections our model offers explained co founder and chief executive of Landbay John Goodall We ve based our proposition around creating the most risk proof peer to peer platform in an industry sometimes reluctant to mention the R word He added that the results of the survey showcase

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/risk-factor-puts-homeowners-off-peer-to-peer-lending/ (2016-02-16)
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  • More than half of over 40s consider buy to let in retirement | Mortgages for Business
    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 More than half of over 40s consider buy to let in retirement 17 04 15 Written by Steve Olejnik More than half of retirement savers are considering buy to let options in retirement according to new research from Kensington Around 53 per cent of those questioned said they were considering investment or had already invested into buy to let to increase the levels of income available in retirement A national sample of retirement savers aged 40 years or above was questioned on their thoughts towards buy to let by Consumer Intelligence on behalf of Kensington Of those questioned eight per cent were already investing into but to let property while 45 per cent were open to the idea of doing so Pension freedoms encourage investment The results follow suggestions that pension freedoms which became active at the start of April will result in a boom in buy to let mortgage deals However the Council of Mortgage Lenders CML suggested the trend is likely to be overstated saying that many pension pots are not large enough to make a significant investment The CML also suggested that the purported risks associated with property investment over other types of financial investment may deter people from stumping up the cash Kensington s research revealed that while 78 per cent of savers were glad they took out pensions some 15 per cent regretted the investments they had made Steve Griffiths head of sales and distribution at the firm said that alternative approaches to pension saving

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/more-than-half-of-over-40s-consider-buy-to-let-in-retirement/ (2016-02-16)
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  • Buy to let investors must register deposits within two months | Mortgages for Business
    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 Buy to let investors must register deposits within two months 16 04 15 Written by Simon Whittaker Landlords have until June 23 to sign up to an official deposit scheme or they may face a fine of 3 600 Those with long standing tenants should be aware of the need to officially register deposits by the June 23 cut off date A 90 day amnesty is being run by the Government to allow buy to let investors in England and Wales to place their tenants deposits into an official scheme Fines for failing to do so will be unlimited and calculated at three times the initial deposit Given that the average deposit put down before moving in is around 1 200 it means potential fines of 3 600 could be enforced Around one in three landlords could be affected as that is the number not registered with a deposit protection service according to current estimates Importantly not all landlords are affected by the legislation as university lets and licence agreements are excluded while Scottish landlords are not covered either Any landlord with an assured short hold tenancy agreement in place should register with one of the three Government backed schemes available Landlords who fail to register will also be deemed to have failed their obligations should a dispute occur at the end of a contract so it is imperative that they act quickly Those who have continually running agreements are those who are deemed most likely to be affected as they may be unaware of the new legislation Emma Humphreys of

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/buy-to-let-investors-must-register-deposits-within-two-months/ (2016-02-16)
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  • Gross buy to let lending up 11 per cent annually | Mortgages for Business
    Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Gross buy to let lending up 11 per cent annually 15 04 15 Written by Jeni Browne The number of buy to let loans in February increased by 11 per cent on a year ago to be worth a total value of 2 2 billion The latest data from the Council of Mortgage Lenders CML revealed market trends for all of the major property sectors with buy to let up for the year A total of 15 900 buy to let loans were agreed in February which is up 11 per cent on the same period in 2014 Loan values were also higher year on year up 16 per cent with a total value of 2 2 billion while the number of buy to let loans taken for house purchases grew one per cent to 7 400 loans These loans had a value of 900 million three per cent higher than in 2014 Stabilising figures Despite the increases noted on an annual basis mortgage figures dropped slightly month on month as the market continued to stabilise The total number of buy to let loans agreed in February was down 13 per cent on January while the total loan value was down 12 per cent For buy to let loans taken for house purchases figures were three per cent lower month on month with values dropping ten per cent Buy to let remortgages experience a 19 per cent fall to 8 400 deals which still represented a rise of 23 per cent compared to a year ago The value of these loans totalled 1 3 billion a monthly decrease of 13 per cent but an annual rise of 31 per cent Bucking the trend Overall

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/gross-buy-to-let-lending-up-11-per-cent-annually/ (2016-02-16)
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  • Landlords remortgage at twice rate of new purchases | Mortgages for Business
    now 73 of HMO loans Loan to value ratios LTVs rise across all property types as landlords leverage their portfolios Rental yields rise to 6 4 for standard BTL properties while HMO yields break through 10 In the first quarter of 2015 66 of mortgages against standard or vanilla buy to let property were remortgaging loans leaving just 34 of buy to let mortgages written in Q1 for the purposes of purchasing new properties Previously remortgaging represented only 62 of vanilla buy to let mortgages as little as three months ago in Q4 2014 For houses in multiple occupation HMOs remortgaging is now an even higher proportion standing at 73 of HMO mortgages in Q1 up from 70 in Q4 2014 Moreover the same trend is even more pronounced for multi unit freehold blocks MUFBs with remortgaging representing 89 of mortgages in Q compared to just 42 in the final quarter of 2014 Semi commercial property witnessed the same trend but with a more gradual change from 86 to 87 of new loans agreed for remortgaging Loan to value ratios rise As landlords have remortgaged in increasing numbers their average loan to value ratios LTVs have crept slightly higher over the course of the last three months For vanilla buy to let the average LTV now stands at 66 in Q1 2015 compared to 63 in Q4 2014 Landlords of HMOs have seen loan to value ratios rise to 70 up from an average of 64 LTV in Q4 2014 Likewise MUFB properties are now mortgaged to an average of 67 of the property value up from 64 LTV in the final quarter of 2014 Semi commercial properties saw a more gradual shift though for these landlords the average LTV also rose from 64 in the previous quarter to 65 in Q1 2015 David Whittaker managing director of Mortgages for Business comments Record low mortgage rates are driving wave upon wave of landlords to reassess their finances A great deal agreed last year may be uncompetitive by today s standards So this stampede is completely rational it represents a charge by landlords to make the most of an unprecedented economic situation Remortgaging is often done for the purposes of raising extra capital and this is clearly reflected in higher loan to value ratios However this is by no means an unwelcome trend and could in turn open the door to more new purchases and investment by landlords Rental yields are healthy and there is a gathering demand from an increasingly prosperous base of tenants So the fundamentals of the rental market and of landlords finances are still extremely solid Rental yields rising For standard vanilla buy to let property gross yields have now risen to 6 4 in Q1 up from 6 3 in the last quarter of 2014 On a similar note gross rental yields on HMOs have now broken through the ten per cent mark to stand at 10 4 in Q1 up from 9 0 in Q4

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/landlords-remortgage-at-twice-rate-of-new-purchases/ (2016-02-16)
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