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  • Strong growth in rental market across most of the UK | 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 Strong growth in rental market across most of the UK 15 12 14 Written by Jeni Browne According to the Home Let index rental prices during November this year were higher in comparison to November 2013 across nine out of ten UK regions Scotland experienced particularly high growth with rental prices increasing by 11 7 per cent between November 2013 and November 2014 and by 8 7 per cent month to month from October to November Greater London followed Scotland in the top three regions with the most dramatic annual rental price increase reporting growth of 11 per cent November to November The West Midlands came in third position with prices that had increased by 8 7 per cent since the same period last year Like Scotland the region with third highest annual growth also saw month on month growth the November figure for rental prices in the East Midlands was up 1 5 per cent on its figure for October The same goes for the South West which experienced a 1 4 per cent monthly rise Healthy market movement Despite a dip in prices between October and November in most areas the market remains strong The index report noted that this is a typical seasonal movement and is comfortable within the context of healthy market Only three regions in the UK the North West North East and Wales recorded an annual decrease from November this year and the same time last year Martin Totty Chief Executive Officer of the Barbon Insurance Group part of Home Let says market

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/strong-growth-in-rental-market-across-most-of-the-uk/ (2016-02-16)
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  • October saw value and number of buy to let loans increase | 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 October saw value and number of buy to let loans increase 12 12 14 Written by Steve Olejnik The Council of Mortgage Lenders CML has released data analysing market activity during October 2014 showing an increase of eight per cent in the number of buy to let loans given between September and October Compared with October of last year there represents a two per cent rise with 19 000 buy to let loans taken out this October Total lending equated to 2 7 billion with 9 900 of the loans given as advances for house purchases and 9 500 given for remortgages The market has also witnessed an increase in buy let values both month on month and annually Values were up eight per cent on September with a rise of 29 per cent also recorded between October 2013 and October 2014 More detailed analysis of the data reveals the number of buy to let loans granted for house purchase were up by 13 per cent compared to this September and up 20 per cent on last year These loans had a total value of 1 2 billion a rise of 10 per cent from September and 28 per cent from last October The number of loans taken out for remortgaging purposes was up 23 per cent from October 2013 and represented a value of 1 4 billion 26 per cent more than in 2013 The data from CML also shows an increase in lending to first time buyers and home movers There were 12 per cent more first time buyers in October than in

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/october-saw-value-and-number-of-buy-to-let-loans-increase/ (2016-02-16)
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  • Market for desirable London properties widens as renters put location before size | 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 Market for desirable London properties widens as renters put location before size 11 12 14 Written by Steve Olejnik Research by London estate agent Knight Frank has revealed young people renting flats in the capital consider size unimportant when deciding where to live The survey shows potential young tenants are willing to sacrifice size in favour of a good location opening up the market for buy to let investors to include smaller flats as long as they fall into desirable areas of the city More than half 54 per cent of the 18 24 year olds questioned claimed they would be quite happy to rent out a studio flat that was located centrally and 45 per cent said they would even seriously consider a microflat of just 300 square feet provided it was in an ideal location Grainne Gilmore Head of UK Residential Research at Knight Frank explained that when it comes to location versus affordability a much higher proportion of Londoners are willing to live in smaller accommodation in order to pay less rent and make sure they re in a good location This is particularly evident amongst younger tenants who place greater emphasis on location and cost than size Gilmore continued to link the growth of the Private Rented Sector seen across the UK with trends in house prices adding that it is also expanding amongst an increased demand for a more flexible workforce in major urban areas The survey also included London tenants aged 35 44 years with one in five of this age group never expecting to own their own home Overall 18 per cent

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/market-for-desirable-london-properties-widens-as-renters-put-location-before-size/ (2016-02-16)
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  • Buy to let lending peaks to highest level since credit crunch | Mortgages for Business
    Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Buy to let lending peaks to highest level since credit crunch 10 12 14 Written by Simon Whittaker Official data released by the Bank of England has revealed that the level of buy to let lending during the third quarter of 2014 was significantly more than the equivalent amount recorded in the third quarter of the previous year In fact it has reached the highest quarterly figure recorded since the crash that crippled the market in 2008 with buy to let lending totalling 8 billion during this year s Q3 compared to 5 9 billion during the same period last year Following a number of years under an economic climate in which mortgage products were considered unfavourable it appears banks are once again getting behind the market No longer considered as risky lenders have been re entering the rental market over the last year Andrew Montlake a spokesperson of mortgage broker Coreco pointed out how the decision from banks such as Natwest and Santander to get back into the buy to let market has caused rates to decline to levels never seen before The Bank of England reported that the swell in the buy to let market has been a factor in the quarterly rise of 0 5 per cent among all residential loans outstanding in the third quarter of 2014 to 1 256 billion Managing partner of Anderson Harris John Harris explained the trend by saying there is a general feeling that buy to let lending is once more a viable option for lenders although not quite to the extent it was in 2006 and 2007 a period he described as a free for all He cited the strictness

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/buy-to-let-lending-peaks-to-highest-level-since-credit-crunch/ (2016-02-16)
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  • Stamp duty overhaul could offer buy to let investors £50 million saving | 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 Stamp duty overhaul could offer buy to let investors 50 million saving 09 12 14 Written by Jenny Barrett Changes made to the stamp duty system are expected to give buy to let investors a saving of 500 per transaction Lenders trade body the Council of Mortgage Lenders CML have released figures that show a continuous increase in the amount of loans granted to landlords who are using the money to purchase new properties The figure has doubled since 2010 during which 49 000 buy to let loans were taken out the rate now stands at 9 000 buy to let loans awarded every month and equates to a total of more than 100 000 a year Taking this data from the Council of Mortgage Lenders into account the estimated average value of a buy to let mortgage that is being used to buy property in place of remortgaging an existing property falls at 124 000 Supposing the typical borrowing is equal to 60 per cent of the price of the property this means there is an average purchase price of 200 000 At this level savings between the regulations of the old and current regimes come in at around 500 per transaction Assuming landlord purchases continue at the present rate this results in an annual saving of approximately 50 million Continued investment in Northern regions The National Landlords Association NLA the largest body representing the private rented sector welcomed the news and claimed the changes to the rules surrounding Stamp Duty are a big win for buy to let landlords A spokesperson applauded the introduction of a straightforward marginal

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/stamp-duty-overhaul-could-offer-buy-to-let-investors-50-million-saving/ (2016-02-16)
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  • Over half of landlords expect to expand portfolios next year | 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 Over half of landlords expect to expand portfolios next year 08 12 14 Written by Jeni Browne More than 50 per cent of landlords questioned in a study carried out by PropertyLetByUs say they are planning to increase their portfolio size in 2015 offering positive news for the industry The survey cites decreasing rent arrears an increased demand for tenants and strong rental profits as reasons for the high levels of confidence reported amongst landlords who are hoping to invest in additional properties in the New Year PropertyLetByUs managing director Jane Morris outlined her own predictions for the market over the next 12 months in response to the survey She highlighted that home ownership has dropped to its lowest level in 25 years and explained that as property prices continue to rise tenant demand is expected to grow This will support the buy to let market during the coming and year and beyond She commented that over the course of the last 12 months the organisation has seen a huge surge in the number of landlords using their website and noted specific geographic preferences in trends As usual properties in the South East and the English Capital were particularly appealing to prospective landlords with the North also experiencing a high level of interest due to high potential yields The survey also revealed that 50 per cent of landlords took rental earnings of between six and eight per cent from their properties whilst another 10 per cent have seen returns of over eight per cent The remaining 40 per cent achieved four per cent profit When it comes to equity

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/over-half-of-landlords-expect-to-expand-portfolios-next-year/ (2016-02-16)
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  • Buy to let market is “healthy” according to Mortgage Market Review | 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 Buy to let market is healthy according to Mortgage Market Review 05 12 14 Written by Steve Olejnik Paragon Mortgages most recent quarterly report on mortgage market activity has shown positive results for buy to let landlords The Financial Advisors Confidence Tracking FACT survey is a specialist report analysing activity amongst buy to let lenders Statistics from the survey reveal that although the amount of mortgages from intermediaries during this year s third quarter fell to 22 down three per cent from Q2 it still shows an increase of 12 per cent on the overall amount of mortgages introduced during Q3 last year As much as 24 per cent of all mortgages which intermediaries brought to the table during Q3 were buy to let products suggesting a more positive attitude towards this section of the market This is also an increase from the second quarter demonstrating that the buy to let market is healthy and going from strength to strength Improved access to finance The survey aims to highlight intermediaries views on the state of the mortgage market and has revealed that 43 per cent of those questioned believe buy to let finance to be more readily available This amount said finance availability had got better since Q2 when only 36 per cent of people felt the same This represents a quarterly increase of seven per cent and demonstrates a high level of confidence in the market with a minority of just eight per cent feeling buy to let financing had actually got worse a drop from the 12 per cent of people who said the same

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/buy-to-let-market-is-healthy-according-to-mortgage-market-review/ (2016-02-16)
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  • New property tax rules to boost UK’s buy to let market | Mortgages for Business
    Careers Contact us 0845 345 6788 Share News Insight New property tax rules to boost UK s buy to let market 04 12 14 Written by Jeni Browne New property tax rates could generate better returns for buy to let landlords investing modest sums research has claimed Speaking about the reforms which will affect stamp duty numerous industry experts explained that the changes could provide a significant boost to the UK s buy to let market by providing more lucrative returns on modest investments According to those in the industry the changes in stamp duty will generate the biggest increase in net returns for modest property investments such as city centre apartments flats above shops property in secondary locations and residences in London s Zone 3 As well as promising greater returns on their capital the new tax rules could also encourage further property investment from landlords who had previously been delaying purchases until after the next general election Money saving boost The new rules regarding stamp duty will mean that landlords have less to pay out when purchasing properties helping those in the buy to let market to expand their portfolios As a representative example a buyer purchasing a two bedroom high end city centre apartment in Manchester for the average price of 150 000 would pay only 500 in stamp duty This is 1 000 lower than the amount they would have paid before the changes providing a substantial boost to the market and making property investment far more attractive While the new changes will impact all areas of the industry it is the buy to let market and landlords with modest investment sums who are set to benefit the most This is because buy to let landlords typically purchase properties worth less than 937 500 which will

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/new-property-tax-rules-to-boost-uk-s-buy-to-let-market/ (2016-02-16)
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