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  • House price inflation continues to slow | Mortgages for Business
    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 price inflation continues to slow 30 01 15 Written by Jeni Browne Annual house price growth in the UK has slowed to 6 8 per cent this month as the industry begins to level out According to the Land Registry during the twelve month period ending in December 2014 house prices in England and Wales increased by seven per cent This was a drop from the 7 2 per cent increase recorded in November and the fourth consecutive month during which the annual rate fell A new survey by Nationwide concluded similar findings and despite an increase of 0 3 per cent in January claimed the annual rate of UK property price growth slowed to 6 8 per cent Average house prices in the country were 188 446 in January according to Nationwide and 177 766 in December according to the Land Registry In each case average house prices have hit a plateau since summer 2014 with the building society saying the causes behind this cooling market activity are unclear Forecasts for the future Henry Pryor a property commentator predicted that this slowdown will last at least until after the General Election in May He said The heat is clearly coming out of the market but it is too early to tell what effect the stamp duty changes announced in the Autumn Statement may have Both pieces of research are in line with the recent data released by HM Revenue Customs HMRC whose monthly figures for the UK show that sales eased off in the final few months of last year One explanation for this cooling is that the recent peak seen

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/house-price-inflation-continues-to-slow/ (2016-02-16)
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  • Rental voids match 2012 low | Mortgages for Business
    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 voids match 2012 low 29 01 15 Written by Steve Olejnik Rental voids recorded in the last quarter of 2014 were the lowest for the year matching figures last recorded at the start of 2012 Research conducted by Paragon Mortgages has revealed that the average void period recorded by landlords during the fourth quarter of last year was just 2 6 weeks The data comes from the specialist buy to let lender s private rented sector trends survey which tracks investor confidence and views on the buy to let market Averages remaining low This short period of 2 6 weeks represents the smallest average void seen since 2012 a year in which the same figure was recorded during the first quarter During the fourth quarter of 2013 the average void period stood at 2 8 weeks Going into Q1 of 2014 this figure remained unchanged followed by a slight dip to 2 7 weeks in the second quarter It then increased again during the next quarter returning to 2 8 weeks The trend has continued to show fluctuation with void periods staying low but varying between 2 6 and 3 weeks over the course of the survey which began in 2001 The exceptions came in Q4 of 2002 when the lowest average void of 2 5 weeks was recorded Then in Q2 of 2010 and at the peak of the financial crisis there was a high of 3 5 weeks Good news for landlords Managing Director of Paragon Mortgages John Heron highlighted that despite the slight fluctuation of void periods over the last year they have remained low

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/rental-voids-match-2012-low/ (2016-02-16)
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  • London’s rental market will outperform property sales in 2015 | Mortgages for Business
    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 London s rental market will outperform property sales in 2015 28 01 15 Written by Jeni Browne The number of homes purchased in the Capital is expected to drop over the course of the coming year while the amount of new lettings soars an industry report has claimed Strong rental markets are expected to be seen across London City Midtown and the Docklands according to research by property advisors and development consultants Hurford Salvi Carr In their analysis of the current market they claim a two tier sales market will become evident during 2015 with demand for properties worth up to 1 million retaining interest from buyers while those priced over the 1 million mark will enter a slower market When the market cooled last year two divisions went against the trend The report confirms that demand for basic one bedroom apartments continues to surpass supply meaning buying a central London pied a terre is just as difficult now as it was in 2014 Also bucking the trend was the London Docklands Demand in Eastern areas has strengthened as buyers look to the region in search of value for money whilst an abundant supply keeps prices down During the course of the year as a whole property prices increased on average by four per cent in City Midtown and Docklands A strong demand is expected from buy to let investors with a focus on sub 750 000 levels which offer the most attractive returns The firm behind the report also said that UK buyers dominated 2014 residential markets representing nearly 70 per cent of all sales This is an increase

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/london-s-rental-market-will-outperform-property-sales-in-2015/ (2016-02-16)
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  • Landlords could achieve 2.5 per cent higher rents in the Capital this year | Mortgages for Business
    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 could achieve 2 5 per cent higher rents in the Capital this year 27 01 15 Written by Jenny Barrett Forecast from Savills have suggested that rental prices in prime London locations could increase by as much as 2 5 per cent over the course of the year providing positive news to landlords and making London a key area of focus for those looking to expand their portfolios According to figures released by Savills this is the level of growth expected within the city itself as well as in its commuter belt regions Over the next five years increases of 17 1 per cent are expected to take place in the capital with the commuter belt anticipating a 15 9 per cent increase Demand still on the rise A spokesperson from Savills explained that despite an expected plateau in demand for the financial and business services sectors London s strengthening economy and continued expansion within sectors like technology and telecommunications will be at the forefront of an increased demand for London rental properties This will also be the case for the broader commuter zone which remains a lucrative market thanks to its accessibility rental prices and quality of housing The real estate organisation said that in the run up to the General Election in May an increasingly subdued sales market could lead to a higher number of homes being introduced into the rental sector during the early stages of the year This could have a weighing effect on rent growth and Savills also highlighted an increasing housing stock in the commuter zone as a factor that could prohibit expansion Continuing strength in the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/landlords-could-achieve-25-per-cent-higher-rents-in-the-capital-this-year/ (2016-02-16)
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  • Government confirms Mortgage Credit Directive legislation | Mortgages for Business
    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 Government confirms Mortgage Credit Directive legislation 26 01 15 Written by Jeni Browne The government has confirmed legislation relating to mortgage lending is being incorporated into UK law following a consultation period As part of the Mortgage Credit Directive a new set of legislation relating to buy to let lending will be introduced but will only apply where lending is made to consumers rather than in instances where it is made for business purposes Although the vast majority of buy to let lending should be unaffected since most loans are classified as for business purposes the directive will apply if the borrower spends time living in the property and will therefore affect some landlords Overcoming challenges The legislation is set to be laid in parliament where it will face scrutiny from both the House of Commons and the House of Lords A consultation period by the Financial Conduct Authority FCA on the changes closed towards the end of December while discussions on how to implement the new regime are now due The implementation of the Mortgage Credit Directive faced criticism from the Council of Mortgage Lenders who suggested it would confuse customers due to a lack of management for the process Despite this the Association of Mortgage Intermediaries AMI has suggested that the latest Treasury response is an attempt to minimise the impact upon lenders and consumers Chief Executive of the AMI Robert Sinclair said that previous concerns relating to regulatory responsibilities have now been resolved There will still be huge challenges for FCA lenders and brokers in ensuring as seamless a transition as

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/government-confirms-mortgage-credit-directive-legislation/ (2016-02-16)
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  • Latest report suggests house prices are steadying as regional differences contract | Mortgages for Business
    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 Latest report suggests house prices are steadying as regional differences contract 23 01 15 Written by Jeni Browne City house prices in the UK underwent small increases during December 2014 as growth hits a comfortable plateau a new report has claimed Property value in cities rose by 0 4 per cent last month to give an annual rate of 8 3 per cent This means the pace of growth has begun to plateau and is expected to slow even further during 2015 The figures come from the latest national index report produced by Hometrack A closing gap Whilst house price recovery continues to spread throughout the UK there has been a narrowing of the gap between the best and worst performing cities with the disparity is now at its lowest level for 15 years Cities appear to be falling into one of two distinct groups those accelerating off a low base after years of static or decreasing prices and those that have experienced strong house price recovery in the past two years and which are now starting to slow as a result of cooling demand and affordability constraints During the second half of 2014 a total of 11 cities recorded house price inflation growth with Scottish cities leading the way Edinburgh Aberdeen and Glasgow all topped the leaderboard with demand that has been on the rise since the independence referendum in September 2014 In England Newcastle Leicester and Liverpool saw prices continue to rise from a low base over the same time period Their respective house prices

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/latest-report-suggests-house-prices-are-steadying-as-regional-differences-contract/ (2016-02-16)
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  • Landlord confidence in buy to let has soared, says new report | Mortgages for Business
    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 Landlord confidence in buy to let has soared says new report 22 01 15 Written by Steve Olejnik Landlords are feeling confident about capital gains prospects according to new figures released by the UK s leading landlord association The research by the National Landlords Association NLA reveals that landlord confidence in capital gains has risen considerably in the past two years Faith in the market has increased to 52 per cent compared to only 18 per cent two years ago and this means that confidence levels have almost trebled during the space of just a couple of years Landlord confidence in the UK s markets has seen a seven fold increase over this same time period rising from five per cent to 37 per cent Despite these very positive findings the NLA is being cautious and underplaying capital gains prospects wary of landlords who may seek to rely on capital gains as a primary investment strategy and warning against this approach This recommendation follows a recent report by The Financial Times which estimated capital growth of private rented housing stock was equal to 177 billion over the last five years alone Understanding the risks Chairman of the NLA Carolyn Uphill spoke of the risk that comes with relying on capital gains saying that although it certainly feels like an ideal time to be looking to buy to let as a source of additional income you cannot simply rely on the prospect of capital gains as an investment strategy A lot is being made of capital growth but landlords must remember they are in the business of providing homes for people It

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/landlord-confidence-in-buy-to-let-has-soared-says-new-report/ (2016-02-16)
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  • Leicester is UK rental hotspot, claims HomeLet | Mortgages for Business
    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 Leicester is UK rental hotspot claims HomeLet 21 01 15 Written by Jenny Barrett Leicester is the UK s rental hotspot according to the latest figures from HomeLet which show rental growth of 45 per cent across the past 12 months The East Midlands city saw average rents increase from 421 to 611 to provide a boost to returns for buy to let landlords and investors HomeLet also revealed that Southall and Cambridge experienced similar levels of rapid growth their rents increased by 38 per cent and 24 per cent respectively Gloucester and Chelmsford completed the top five cities for rental increases with rates going up 22 per cent and 19 per cent while other cities have also experienced strong rental growth over the past 12 months including Swindon London and Telford recording growth of between ten and 18 per cent By comparison Ilford and Harrow saw rents increase by nine per cent in the past year to complete the nation s top ten areas for rental growth A full rental picture for the UK Elsewhere in the country noted considerable drops in average rents with a 24 per cent fall in Colchester the highest recorded That meant rents fell from 708 to 539 while Croydon and Brighton saw similar drops in rent of 23 per cent and 18 per cent respectively Other areas to notice a fall included Romford and Manchester where rents came down by 12 per cent and seven per cent Cardiff Belfast Huddersfield Lincoln and Leeds completed the bottom ten destinations that noted the largest rental decreases in the past 12 months A year for growth Commenting on the data

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/january/leicester-is-uk-rental-hotspot-claims-homelet/ (2016-02-16)
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