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  • March property valuations at eight year high for buy to let
    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 March property valuations at eight year high for buy to let 14 04 15 Written by Jenny Barrett More property valuations took place in March 2015 than in any month in the last eight years with the buy to let sector particularly active According to Connells Survey and Valuation valuation figures have jumped in the buy to let sector as more people look to invest in property Buy to let activity was 54 per cent stronger month on month this March and up 64 per cent year on year This reflects overall trends in the buy to let sector where more mortgages were agreed than in any other sector in the year until January According to the report the last time so many valuations took place was in 2007 and overall valuations were up by 42 per cent year on year and 36 per cent month on month with such levels of activity not seen since before the financial crisis Optimism into the property market Elsewhere in the market valuations were also strong with remortgaging activity up 54 per cent annually and 33 per cent between February and March Valuations for homemovers also grew but at a slower pace of 23 per cent annually and 32 per cent month on month First time buyer activity increased in March as the number of valuations was up by a third on a monthly basis and increased by 40 per cent from a year ago John Bagshaw Corporate Services Director of Connells Survey and Valuation reported that optimism from the economy and jobs market was seeping into the property market Looking ahead election uncertainty is a

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/march-property-valuations-at-eight-year-high-for-buy-to-let/ (2016-02-16)
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  • Competitive lending options for full-time landlords with larger portfolios | Mortgages for Business
    taken them from zero to hero in just five business days I decided to speak to our brokers and find out why they have been using Axis Bank HMOs Three of our AIPs were for HMOs We chose Axis because their 75 LTV rate 4 59 5 year fixed with a 2 fee is the best on the market They can also do small blocks of flats on these terms One word of caution Axis will value all HMOs on a bricks and mortar basis rather than an investment value Professional Landlords Twelve of the AIPs were for landlords with portfolios whose main income is from property Sure other lenders could do this but here are some more peculiarities of these cases Exposure limits Whilst Axis restrict their own exposure on borrowing to five properties landlords can have an unlimited number of mortgaged properties with other lenders This is great for landlords with larger portfolios No credit scoring Sure Axis credit search to thoroughly check a potential borrower s background but they don t use the scoring system They look for a clean profile but can consider minor discretions This is great for many landlords who don t pass credit scoring because they have lots of highly utilised credit lines or have had a lot of credit searches No minimum income requirement Of course things have to feel realistic if you earn 5k pa but have a residential mortgage of 500k and credit cards of 20k the numbers just don t work on any level But and this is the key Axis understand landlords accounts and are able to read them for what they are and then make a sensible commercial decision Rental calculation On a vanilla property in personal names Axis can get to 235 x monthly rent on their five year fixed rate This gives them one of the most generous rental calculations in the market and works tremendously well on those lower yielding high value properties Limited Companies The last five AIPs have been for applications in a limited company name and like the HMO deals the pricing is extremely good They don t ask for debentures don t mind there being other lenders in the background and can combine the Ltd Co entity with the property being an HMO or small block of flats In terms of application processing we ve been working closely with Axis and are pleased that their systems have been designed to handle both vanilla and complex propositions including limited companies and HMOs We will continue to work closely with Axis over the remainder of the pilot to ensure smooth case processing ahead of launch to the wider market So whilst Axis are shaping up nicely it would be remiss to omit to mention their geographical restrictions which mean that they lend in the South East only Landbay The good news for landlords looking to finance properties throughout England and Wales is that we have Landbay For those who aren t familiar

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/competitive-lending-options-for-full-time-landlords-with-larger-portfolios/ (2016-02-16)
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  • Buy to let landlords earn 1,400 per cent returns on investment | Mortgages for Business
    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 landlords earn 1 400 per cent returns on investment 13 04 15 Written by Steve Olejnik Since 1996 the average value of a 1 000 buy to let investment is now 14 987 representing a massive 1 400 per cent rate of return Buy to let has outperformed shares and bonds since it first entered the market as an investment option nearly 20 years ago new analysis shows Published by economists at Wriglesworth Consultancy on behalf of Landbay the return on a buy to let investment is four times more than that available with either UK government bonds and shares or commercial property It is also seven times greater than cash investment returns Overall the amount generated for buy to let landlords from a 1 000 investment made in Q4 1996 was 14 987 at the end of last year a 1 400 per cent return which compares favourably to other options UK bonds provided 3 329 in the same period a return of more than 230 per cent while equities provided returns of more than 210 per cent at 3 119 The research is based on Nationwide s house price index and data from the Office for National Statistics and property services firm LSL Returns were calculated on the basis of a landlord taking out a 75 per cent loan to value mortgage to focus the investment Higher prices grow value Even without borrowing buy to let outperformed other options by returning 5 071 for every 1 000 invested For the purpose of the study it was assumed that buy to let investors would use rental income to pay off the mortgage clearing it

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/buy-to-let-landlords-earn-1-400-per-cent-returns-on-investment/ (2016-02-16)
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  • Importance of inventories highlighted as landlords struggle with rules | Mortgages for Business
    Contact us 0845 345 6788 Share News Insight Importance of inventories highlighted as landlords struggle with rules 10 04 15 Written by Jenny Barrett British landlords could benefit from thorough fair inventories of their properties as 60 per cent never perform inspections and don t understand rules which affect tenant deposits The research from My Property inventories added that 80 per cent of landlords had said evidence from an inventory had helped in a tenant deposit dispute It highlights the need for buy to let landlords and investors to ensure that the necessary paperwork is completed for every property that is rented out Some 60 per cent of landlords said they couldn t grasp how the betterment principle works although 90 per cent were quite sure on what was meant by fair wear and tear Simply put the betterment principle means that old items cannot be replaced with new and then charged to a tenant Some compensation is allowed towards such items but not to cover the entirety of costs Buy to let landlords must be realistic A total of 60 per cent of landlords questioned said they never visit their properties to check their condition something that is done regularly by just six per cent This has lead to landlords having unrealistic expectations of what they can claim against tenant deposits at the end of tenancies according to Danny Zane the Director of My Property Inventories Tenants should return a property to the condition in which it was first let to them although there is an allowance for wear and tear The key problem is that agents landlords and tenants have different expectations when it comes to fair wear and tear issues Zane explained There is a distinct difference between fair wear and tear and actual damage Buy to

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/importance-of-inventories-highlighted-as-landlords-struggle-with-rules/ (2016-02-16)
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  • Buy to let market prepares for greater regulation and monitoring | Mortgages for Business
    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 market prepares for greater regulation and monitoring 09 04 15 Written by Steve Olejnik Both the Bank of England and Council of Mortgage Lenders CML have announced stricter monitoring and codes of practice for landlords as the buy to let market continues to thrive The CML has unveiled a statement of best practice in a bid to ensure that non regulated buy to let business is responsible and understood According to the trade body 31 of its members have already signed up which represents 90 per cent of the market while other members operating buy to let are expected to sign by the end of 2015 Clear and fair advertising The principles aim to ensure that the advertising of buy to let services and products is clear and fair and has written out factors that must be considered when assessing affordability Members must also act within the new policy when handling any arrears or repossessions while a complaints policy must also be adhered too The CML believes the regulations will help to manage the market as although lending to a family member will be regulated by the Financial Conduct Authority from next April loans for business will not Lenders know how important it is to have a transparent mortgage market in which borrowers can have confidence and where lending policy is both responsible and clearly understood CML Director General Paul Smee said The new buy to let statement of practice reflects what responsible lenders already do and offers a clear explanation of how buy to let lenders operate We hope it will make a valuable

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/buy-to-let-market-prepares-for-greater-regulation-and-monitoring/ (2016-02-16)
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  • High tenant demand and strong rent continue into Q2 | Mortgages for Business
    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 High tenant demand and strong rent continue into Q2 08 04 15 Written by Jenny Barrett Research from Knight Frank and Sequence confirms the UK property market is maintaining upward growth as it enters the second quarter of 2015 Demand for rental property has increased by seven per cent across the past year according to Sequence while supply has dropped by 17 per cent during the same period Tenants compete for homes An average of five people are now in competition for every available property up from a little over four 12 months ago Stephen Nation Head of Lettings for Sequence s sister company Barnard Marcus said that this increase in demand is not expected to fall Supply is expected to increase as the number of but to let investors grows following the changes to pension annuities however not at the rate of demand he explained In London an average 8 5 people now compete for every available property a figure only marginally lower than the peak of 10 5 people noted in October 2014 This is thought to be caused by an upswing in the number of would be tenants which has grown by 34 per cent while property supply has decreased by 16 per cent A familiar trend The widening gap between property supply and demand is nothing new though with previous reports recording similar patterns and trends for some time Last month rents grew one per cent on February s figures with the average monthly cost hitting 705 These figures were similarly higher than January with an 11 per cent increase in demand and 13 per cent drop in

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/high-tenant-demand-and-strong-rent-continue-into-q2/ (2016-02-16)
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  • Mortgages for Business launches exclusive BTL pilot for Axis Bank | 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 Mortgages for Business launches exclusive BTL pilot for Axis Bank 07 04 15 Written by Jenny Barrett Mortgages for Business has this afternoon commenced an exclusive three week pilot for new intermediary only buy to let lender Axis Bank The pilot which is intended to ensure that Axis delivers a positive experience for brokers and landlords will run until 27th April when the Bank opens its doors to lending via a restricted panel of specialist intermediaries Targeting experienced landlords with both a standard and specialist range the rates are well priced starting at 3 79 for a 2 year fixed rate to 75 LTV with a fee of 1 5 Commenting on the pilot Steve Olejnik sales director at specialist broker Mortgages for Business said We ve been working closely with Axis in the run up to launch and I must say I m very impressed with its new online submission platform It s easy to use and should help to make application processing pretty smooth In addition to standard buy to lets it has been designed to handle more complex propositions including limited companies and HMOs The decision making process will be quick and pragmatic too with all cases being assessed and negotiated individually I think that landlords will be impressed with the level of customer service Although the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/mortgages-for-business-launches-exclusive-btl-pilot-for-axis-bank/ (2016-02-16)
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  • Better tracking of buy to let returns needed from landlords | Mortgages for Business
    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 Better tracking of buy to let returns needed from landlords 07 04 15 Written by Steve Olejnik A staggering 23 per cent of British landlords fail to monitor their buy to let returns leaving 300 billion untracked Those with Houses in Multiple Occupation HMOs were most likely to measure their portfolio with 95 per cent of owners tracking profits and returns while only 33 per cent of landlords with holiday homes did the same Confusion and uncertainty Landlords also revealed a large amount of confusion over how to most accurately assess their returns according to research from Platinum Property Partners Return on Investment is one possible method which uses gross profit property costs including fees and repairs and capital gains in its calculations but Platinum Property Partners say that Return on Equity uses a similar approach and can also be considered an effective measurement Despite this only 21 per cent of buy to let investors measure performance using these methods with 56 per cent using less effective systems This means that while around 300 billion of buy to let profits are untracked entirely a massive 700 billion may not be being monitored accurately Many landlords claim this is because they struggle to decipher financial terminology with only 24 per cent correctly defining Return on Investment meant when asked to pinpoint its meaning More than half 56 per cent did not know at all while a further fifth 20 per cent were unsure A similar situation existed when landlords were asked to define gross yield and gross profit with just 26 per cent and 12 per cent

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/april/better-tracking-of-buy-to-let-returns-needed-from-landlords/ (2016-02-16)
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