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  • Cutting interest rates would be “extremely foolish”: Carney issues stark warning | Mortgages for Business
    Testimonials Careers Contact us 0845 345 6788 Share News Insight Cutting interest rates would be extremely foolish Carney issues stark warning 12 03 15 Written by Jeni Browne The Bank of England Governor has warned against slashing interest rates as a remedy to putting a stop to record low inflation As the UK experiences some of the lowest inflation rates on record at just 0 3 per cent for January Bank of England Governor Mark Carney has spoken out against proposals to cut interest rates He claims that slashing interest rates would be extremely foolish if the main purpose was to curtail the record low inflation and discussed how economists should not issue a knee jerk reaction to the sharp decline in oil prices which he claims has generated the low interest rates in the first place Carney said that he actually expects inflation to fall further over the course of the year and predicted that it may even hover around the zero mark for the majority of the year He was keen to highlight that this was not something to fear though and urged the Bank not to cut interest rates The thing that would be extremely foolish would be to try to lean against this oil price fall today and try to provide extra stimulus to get inflation up at this point in time he told the House of Lords economic affairs committee The impact of that extra stimulus would happen well after the oil price fall had moved through the economy and we would just add unnecessary volatility to inflation That would be foolish This is not to suggest that the Bank won t be monitoring the situation closely though and Carney was quick to point out that they would remain vigilant of the situation so as

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/cutting-interest-rates-would-be-extremely-foolish-carney-issues-stark-warning/ (2016-02-16)
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  • Landlords reap strong returns from outer London properties | Mortgages for Business
    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 Landlords reap strong returns from outer London properties 11 03 15 Written by Steve Olejnik Attractive mortgage rates and a thriving market have prompted buy to let investors to expand their portfolios into outer London achieving strong returns as a result According to data from London estate agent Fraser Co buy to let prospects in the capital are really taking root with domestic home buyers who are capitalising on the greater returns they can achieve They highlighted key areas for investment as those lying just outside London s central region zone 1 and where good transport links existed to more central parts of the city As buy to let mortgages become more appealing we expect to see domestic investors nipping at the heels of their international counterparts allowing areas in zone 2 to continue to thrive and extend out towards zone 3 said Robert Fraser the estate agent s Managing Director Where there is redevelopment and good transport links to central London there is significant growth potential The wider picture As well as noting increased interest from buy to let landlords in outer London properties recent research from Knight Frank has also shown that lucrative opportunities still exist within London s prime rental market Figures released in February showed that values rose for the twelfth consecutive month growing by 0 2 per cent Key areas included St John s Wood Hyde Park and Kensington where rents were up at respective

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/landlords-reap-strong-returns-from-outer-london-properties/ (2016-02-16)
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  • Bank of England record strong end of year results for buy to let | 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 Bank of England record strong end of year results for buy to let 10 03 15 Written by Jeni Browne Official figures for 2014 s Q4 show an increase in the quantity and value of buy to let mortgages across Britain In their latest statistical release Mortgage Lenders and Administrators Statistics for Q4 2014 the Bank of England BoE reported strong results for the buy to let market at the end of last year Lending for this purpose increased by 0 6 per cent from a quarter previously putting the total proportion of buy to let lending up from 14 3 per cent in Q3 to 14 9 per cent in Q4 The first time buyer market also reported a quarterly increase albeit of a much smaller 0 1 per cent from 21 7 per cent in Q3 to 21 8 per cent in Q4 while house purchase lending was down 0 8 per cent to 71 per cent overall Remortgaging was also up rising from 23 per cent in Q3 to 23 7 per cent by the end of 2014 Increased loan values As well as recording growth in the quantity of buy to let mortgages for the end of the year the BoE also noted an increase in loan values for investors from a year previously Overall 6 6 billion was advanced in Q4 2013 before jumping to 7 6 billion in Q4 2014 This followed fairly consistent growth throughout the year with Q1 and Q2 figures recorded at 6 8 billion and 7 billion respectively Although there was a slight drop recorded between Q3 and Q4 of 2014 for buy to let loans values

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/bank-of-england-record-strong-end-of-year-results-for-buy-to-let/ (2016-02-16)
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  • NLA supports government changes to landlord licensing | 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 NLA supports government changes to landlord licensing 09 03 15 Written by Steve Olejnik The National Landlords Association NLA has commended recent proposals by the Government to change the rules surrounding landlord licensing schemes with local councils Speaking about the changes the NLA s Richard Lambert explained that adjusting the legislation could prove beneficial for landlords in numerous ways He described the proposed changes as welcome news that stops local councils introducing unnecessary borough wide licensing schemes without an evidence base Instead he claimed that local authorities and councils would be encouraged to resolve specific issues which relate to their areas of focus by outlining exactly how landlord licensing schemes will operate and be assessed using clearer fairer guidelines New eligibility for licensing Under the changes which will apply to section 250 6 of the Housing Act 2004 councils will only be able to designate specific parts of their local area as suitable for landlord licensing under certain conditions This will prevent borough wide rulings from being made and ensure that licensing only applies where it is absolutely necessary thus helping landlords achieve a fairer deal Under the Draft Order presented to Parliament only areas where there are a high proportion of properties in the private rented sector in relation to total housing can be considered eligible for selective licensing if they meet one of the following four conditions 1 The area is prone to risks caused by poor quality housing stock For example where properties do not meet health and safety legislation or environmental health legislation 2 The area is or has recently experienced a flood of

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/nla-supports-government-changes-to-landlord-licensing/ (2016-02-16)
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  • The Mortgage Works reduces buy to let early repayment charges | Mortgages for Business
    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 The Mortgage Works reduces buy to let early repayment charges 06 03 15 Written by Jenny Barrett The Mortgage Works has announced it is to cut early repayment charges relating to all new buy to let mortgages agreed from March 06 A reducing scale will mean landlords seeking fixed rate deals of two three or five years will see their early repayment charges reduced The same scale will also apply to two year tracker deals and lifetime variable loans cases Paying less over a fixed term This means a customer redeeming before their two year fixed rate deal ends will now pay an early repayment charge of three per cent in year one and two per cent in year two Customers with a two year tracker will pay an early repayment charge of two per cent in year one and one per cent in year two while those with three year fixed deals will see early repayment charges set at four per cent three per cent and two per cent during the fixed period For five year fixes an early repayment charge of six per cent in year one will be applicable declining by one per cent each year to end on two per cent in the final year of the fixed term Charges relating to The Mortgage Work s ten year deal currently the longest fixed rate product in the buy to let sector will not be reduced as they already operate on a stepped scale This announcement marks a clear change from previous deals

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/the-mortgage-works-reduces-buy-to-let-early-repayment-charges/ (2016-02-16)
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  • Prime London rental values grow for twelfth consecutive month | 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 Prime London rental values grow for twelfth consecutive month 05 03 15 Written by Jenny Barrett The capital s prime rental market went from strength to strength in February with values rising for the twelfth month in a row at a value of 0 2 per cent The rise matched that noted in January and means annual growth in the prime capital market now stands at four per cent according to Knight Frank That represents the highest level for more than three years although the report does highlight some uncertainty relating to the potential of a mansion tax and its impact on properties worth 2 million or more Politics impacting the market Tom Bill head of London residential research at Knight Frank said the possibility of legislation changes following May s general election is having both a positive and negative impact on the market This has benefitted the lettings market to some extent as a small but growing number of buyers and vendors hedge their bets on the outcome of the election and move into the rentals market he explained However the dominant mood in the prime London lettings market in February was also one of caution as election campaigning gathered pace which resulted in low stock levels in some areas He added that some landlords and tenants are tackling the issue by initially renting a property before buying so as to guard against any short term political uncertainty Such approaches mean those looking to buy are only likely to do so after the election when the situation will be a lot clearer Regional variation in the capital Regional variation in rental

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/prime-london-rental-values-grow-for-twelfth-consecutive-month/ (2016-02-16)
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  • Rental demand continues to outstrip supply | 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 Rental demand continues to outstrip supply 04 03 15 Written by Steve Olejnik British landlords reap the rewards of the rental market as demand grows 11 per cent but supply drops 13 per cent in the year to January 2015 The number of people looking for property to rent has risen yet again according to new research from Sequence which also showed that supply is falling Stephen Nation Head of Lettings at Sequence said the gap between supply and demand was causing the market to become increasingly competitive with nearly five tenants chasing each new available rental property The private rented sector remains very buoyant especially when compared to this time last year large cities in particular are seeing a lot of activity as employment increases and house prices growth holds firm he said Good news for landlords Sequence said that rents have also increased as a result of the divergence between supply and demand a statement which reflects findings from the latest Countrywide study into rental costs Countrywide s research showed variations in prices across the UK while Sequence put the national average rental charge at 702 per month for this January but excluded London from its calculation London rents stood at 1 494 in January while 2014 saw demand for rental accommodation in the capital increase by 47 per cent Despite the higher rents tenancy agreements grew throughout the country up 16 per cent overall and up 14 per cent in the capital alone London also witnessed some of the highest competition for properties as supply dropped

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/rental-demand-continues-to-outstrip-supply/ (2016-02-16)
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  • Landlords fill properties with long-term renters as home ownership levels hit new low | Mortgages for Business
    approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Landlords fill properties with long term renters as home ownership levels hit new low 03 03 15 Written by Jenny Barrett Home ownership in the UK is at its lowest level for 30 years falling to just 63 3 per cent and helping landlords to secure permanent tenants The latest annual report from the Department of Communities and Local Government shows home ownership fell by 1 9 per cent in 2013 2014 The rate of home ownership has fallen steadily since 2003 and is now eight per cent lower than the all time high of 70 9 per cent experienced 12 years ago A sharp decline in the number of young people owning a property was noted particularly among those aged between 25 and 34 years This group is traditionally seen as vital to the housing market but home ownership among them has fallen from 59 per cent in 2004 to 36 per cent last year In that period the proportion of people 25 34 year olds renting increased from 41 per cent to 64 per cent and was even higher for those aged 16 to 24 years with 91 per cent of people in this age group renting properties in 2014 compared to just 76 per cent a decade earlier Landlords take biggest share of market since 60s This means the private rental sector now houses 19 per cent of all households in England its highest share since the 1960s Since 2004 the number of privately rented properties has nearly doubled to 4 4 million but 61 of those in the sector expect to purchase a property in the future Private rented sector housing exceeds 1 trillion However 50 per cent of renters expect it to take

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/march/landlords-fill-properties-with-long-term-renters-as-home-ownership-levels-hit-new-low/ (2016-02-16)
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web-archive-uk.com, 2016-12-09