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  • Number of buy to let investors grew by eight per cent in 2014 | 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 Number of buy to let investors grew by eight per cent in 2014 10 02 15 Written by Jenny Barrett The number of buy to let landlords totalled 1 63 million at the end of 2014 following an eight per cent increase over the year New figures released by London based lettings agent Ludlow Thompson have provided positive news for the buy to let industry According to the firm the number of investors operating within this market was up in 2014 compared to a year previously They highlighted a record low rate of interest on bank deposits and government bonds as core reasons behind the sector s continuing ability to attract new investors but also suggested that a significant rental yield of five to six per cent is an achievable estimate in certain parts of the Capital Changes benefit investors The firm s chairman Stephen Ludlow said regulatory changes which have taken place within the market recently also contributed to the success as they made it more difficult for first time buyers to secure mortgages which increased tenant demand as a result More than just a flash in the pan success Ludlow Thomas is also confident that the popularity of buy to let will continue to grow in 2015 The financial benefits of lower stamp duty charges which were announced in the Autumn Statement will influence this as there will be no tax on houses worth 125 000 or less All other properties will be assigned tax brackets based on property values as follows 125 000 250 000 two per cent tax 250 000 925

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/number-of-buy-to-let-investors-grew-by-eight-per-cent-in-2014/ (2016-02-16)
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  • UK house prices experience biggest start of year increase since 2009 | Mortgages for Business
    approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight UK house prices experience biggest start of year increase since 2009 09 02 15 Written by Steve Olejnik Property prices in the UK have grown two per cent during January representing the largest rise for this month since 2009 This is according to data from Halifax which also reveals that prices were 1 9 per cent higher between November and January compared to the previous three months It was also the first time that the quarterly rate of change increased since July of last year Stable growth These rates are lower than those recorded between June and September 2014 and Halifax has made a prediction of moderate yet steady price growth over the course of this year It expects a national average increase of three to five per cent in comparison to the eight per cent rise seen in 2014 During the three months leading up to and including January 2015 prices were 8 5 per cent higher than across the same period last year This is a jump from the 7 8 per cent recorded in December Sales were up by 15 per cent in 2014 and gradually declined over the course of the year to end five per cent lower in Q4 than in Q1 Halifax s Housing Economist Martin Ellis gave some context to the market s recent activity saying This bounce back in house price growth in January coincides with reports of the first rise in mortgage approvals for six months in December These improvements may indicate that the recent declines in mortgage rates the reform of stamp duty and the first increases in real earnings for several years are providing a modest boost to the market Too early to tell Despite his positive

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/uk-house-prices-experience-biggest-start-of-year-increase-since-2009/ (2016-02-16)
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  • UK property market will remain strong regardless of election outcome | Mortgages for Business
    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 UK property market will remain strong regardless of election outcome 06 02 15 Written by Jeni Browne New research claims the economy is the biggest influence on the UK property market with the upcoming general election unlikely to have much impact A new study has shown that May s general election will have very little effect on the property market whereas the economy remains a significant force The research by property and real estate services advisor CBRE confirmed that periods of strong economic activity have coincided with strong property take up However the organisation believes the timing of the UK s looming election will have a negligible impact on the housing market Miles Gibson Head of UK research at CBRE explained that although conventional wisdom would lead us to think property markets slow during the uncertainty felt in the lead up to a general election with this election being particularly uncertain this is not actually the case Instead the firm s data suggests that the property market is quite resilient in the months prior to voters taking to the polls with few changes witnessed in overall market activity There is little if any evidence of UK general elections having any overall impact on property investors or occupiers the pace of planning decisions or house prices Mr Gibson stated This may be because party manifesto policies on property are typically very general and where they are specific they take time to be implemented Analysing past activity By analysing data from

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/uk-property-market-will-remain-strong-regardless-of-election-outcome/ (2016-02-16)
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  • Environmental ruling could limit what properties landlords can rent out | Mortgages for Business
    Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Environmental ruling could limit what properties landlords can rent out 05 02 15 Written by Steve Olejnik Regulations being presented to Parliament today will ban landlords from renting England and Wales most inefficient homes if approved In an attempt to reduce energy bills and carbon emissions landlords will not be able to rent properties given the lowest rated Energy Performance Certificates EPC under the new regulations If approved the ruling will come into action from 2018 and restrict landlords from renting out homes which have an EPC rating of F or G Instead landlords will need to ensure their rental properties carry an EPC rating of E or higher completing necessary improvements to efficiency as required Failure to complete this action will result in landlords being banned from renting out properties which do not meet the minimum standards affecting thousands of homes as nearly 10 per cent of English and Welsh homes are currently rated E or lower An important step for the rental market Proposed by Energy and Climate Secretary Ed Davey the new regulations have been suggested after it was found that around one million renters pay up to 1 000 a year on utility bills Davey described the new plans as a very big measure that would make the situation fairer for all renters would enjoy lower maintenance costs while landlords could ensure continual tenancy and reduce the risk of void periods by providing more attractive properties which meet these standards Effectively we re saying if you do not improve your property up to the minimum of EPC E rating by three years time you will not be able to let out that property he explained Although this would initially result

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/environmental-ruling-could-limit-what-properties-landlords-can-rent-out/ (2016-02-16)
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  • 2015 is off to a flying start for British landlords | Mortgages for Business
    Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight 2015 is off to a flying start for British landlords 04 02 15 Written by Jenny Barrett Landlords are already enjoying a booming property market this year thanks to increased tenant demand fewer void periods and reduced tenant arrears According to the latest buy to let quarterly index from BM Solutions both tenant arrears and rental voids plummeted to an all time low during the last quarter of 2014 putting landlords in a positive position early on in the New Year Their research reveals that just three in 10 landlords faced void periods of any length in Q4 and a similar amount 32 per cent had experienced tenant arrears issues over the previous 12 months Steady demand Demand from tenants has also remained consistently high as 37 per cent of landlords felt it increased during the fourth quarter while only a small minority seven per cent reported a decline Rental property demand is found to be especially strong in outer London regions the East of England and in the South East where over two in five landlords believe demand is on the rise Central London saw the biggest positive rise in landlords reporting a growth in demand with the number of landlords claiming demand had risen in this area up nine per cent in Q4 compared to Q3 Wales was at the other end of the scale with the number of landlords believing demand had grown decreasing by 11 per cent Landlords keen to expand In further positive activity it was also found that landlords have become more acquisitive by the start of 2015 as nearly one in five added a new property to their portfolio

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/2015-is-off-to-a-flying-start-for-british-landlords/ (2016-02-16)
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  • UK Government gives Bank of England new mortgage powers | Mortgages for Business
    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 Government gives Bank of England new mortgage powers 03 02 15 Written by Jeni Browne In official legislation published 02 February the Bank of England BoE has been given greater control of residential mortgages excluding buy to let products Setting loan to value LTV limits and debt to income DTI limits for residential mortgages are amongst the new powers granted to the BoE s Financial Policy Committee FPC with buy to let products to be consulted on separately by the Treasury early in the new parliament Prevent future instability The new legislation sets out new powers of direction which were called for by the FPC back in October 2014 in order to guard against any future risks to financial stability The changes will allow the BoE to inform banks of the proportion of loans they are authorised to hold above a specified level of LTV but will not affect buy to let mortgages The Treasury intends to consult on the FPC s recommendations regarding this portion of the market separately building an in depth case on the way in which the running of the buy to let housing market may carry risks to financial stability Andrea Leadsom Economic Secretary to the Treasury claimed the FPC is taking this action in order to ensure a continuation of the ongoing stability of the country s housing market This will be achieved through the setting of limits on DTI and LTV ratios for mortgages and by giving the FPC greater jurisdiction Currently the FPC only has the ability to recommend these policies but the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/uk-government-gives-bank-of-england-new-mortgage-powers/ (2016-02-16)
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  • Buy to Let Mortgage Surge Favours Cautious Landlords | Mortgages for Business
    products now available compared to 707 at the end of Q3 A new lender also entered the market Fleet Mortgages adding to the growing number of buy to let products However the cheapest mortgage rates and lowest fees have been reserved for low loan to value LTV ratios David Whittaker managing director at Mortgages for Business comments Lenders continue to compete fiercely for the ever growing buy to let market with more than 100 extra products available in the last three months This unprecedented pick up reflects the huge increase in demand as well as the wider importance of the buy to let industry Looking at total lending in 2014 the trend is clear For a second consecutive year the value of the BTL market grew by almost a quarter We anticipate further growth in 2015 but at a slower rate as the market takes an inevitable breather after such a huge sustained spurt Fixing already cheaper than betting against rate rises Fixed rate mortgages are proving to be better value than their respective tracker counterparts particularly for lower loan to value borrowers Low LTV mortgages now outperform their tracker equivalents at 2 3 and 5 year periods Likewise at medium LTVs the costs for a two year fixed rate is 4 4 compared with 4 7 for the tracker equivalent while for three year products the costs are the same and only 0 3 higher than the tracker products for five years Even for fixed rate high LTV mortgages the current cost of borrowing is only marginally higher than tracker products To fix for 5 years at a high LTV is just 0 4 percentage points more than the corresponding tracker 2 Year Products 3 Year Products 5 Year Products LTV Band Fixed Rate Trackers Fixed Rate Trackers Fixed Rate Trackers High LTV 5 8 5 8 6 3 5 7 6 0 5 6 Medium LTV 4 4 4 7 5 0 5 0 5 0 4 7 Low LTV 3 5 4 0 4 1 4 6 4 2 4 5 Landlords taking advantage of record low fixed rates Only one in a hundred landlords now opts for a one year initial mortgage term More widely the popularity of short term mortgages continues to wane 52 opted for a two year deal down from 57 six months ago despite the very attractive 2 year rates on offer By contrast longer term mortgages are growing in popularity with the proportion choosing 5 year mortgages rising from 15 in Q2 to almost one in five 18 in the fourth quarter David Whittaker comments It s astounding that fixed rate mortgages are already better value than their respective tracker counterparts Again the real advantage is for the safest landlords with the lowest LTV loans But even though tracker products are a little bit cheaper at higher LTVs in these cases too it soon won t be enough to compensate for the likely increase in cost of trackers when rates inevitably

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/buy-to-let-mortgage-surge-favours-cautious-landlords/ (2016-02-16)
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  • Private rented sector experienced activity boost towards end of 2014 | Mortgages for Business
    Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Private rented sector experienced activity boost towards end of 2014 02 02 15 Written by Steve Olejnik Bucking the usual trends the UK s private rented sector PRS experienced more growth in the last six months of 2014 than in the first six A new report shows that 2014 was a year of two halves for PRS activity as growth took place in a pattern that varies from the norm The opening period of the year tends to be the busiest for the sector but figures from the Annual Lettings Index for January released by Countrywide show there was actually more activity in the latter half of 2014 Reasons behind the boost According to the UK s largest estate agency group the slowdown in the market during the last six months of 2014 resulted in an increased demand for rental accommodation of seven per cent The organisation believes the movement of households between the PRS market and sales played a role in this activity Countrywide also discovered that average rent on newly let properties grew by 3 7 per cent over the first half of 2014 and by 4 2 per cent over the second half These figures stood at 1 7 per cent and 1 8 per cent respectively for existing tenancies Countrywide s Group Commercial Director Nick Dunning explained that the sales and rental sectors correlate closely with the thousands of households moving between them each year During the final six months of last year there was a fall in the number of tenants actively seeking to buy This has kept demand for rental accommodation at a high allowing more landlords to stand firm in the face of attempted negotiation on rent he continued Predictions

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/february/private-rented-sector-experienced-activity-boost-towards-end-of-2014/ (2016-02-16)
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