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  • The importance of reviewing your buy to let property portfolio | Mortgages for Business
    too see the details at the very end of this blog Think you can t unlock the capital in your property Granted lending criteria has changed considerably since 2008 but the increase in buy to let mortgage borrowing has been growing year on year since 2009 and now accounts for nearly 13 of all mortgage lending And if you ve been following our Complex Buy to Let Index you ll know that remortgaging currently accounts for more than 71 of all BTL mortgage transactions here at Mortgages for Business in 2014 So clearly it is possible to release the equity tied up in your properties because many of you are doing just that Of course there may be some sticking points but there are solutions Poor credit rating It s true that if you have adverse credit you are less likely to get finance from most of the mainstream buy to let lenders who like borrowers to be squeaky clean However there are a few that will look at applications on a case by case basis and take a view So if you have a few missed payments that were a genuine mistake and have been rectified it is worth getting in touch to see if we can help If your credit rating is very poor there are still solutions that might work for you For example Keystone Buy to Let Mortgages now offers a three year fixed rate loan which not only helps landlords unlock capital and make purchases it also helps the borrower to repair their credit rating Of course as you would expect the rates are higher than standard buy to let products but cheaper than bridging and they can certainly help you to expand your portfolio Income in excess of 25k pa in addition to rent To many it does seem odd that in addition to stringent rent to interest stress tests lots of mainstream buy to let lenders also require borrowers to have an income in excess of 25k pa which is not derived from rent This can seem particularly harsh to landlords with larger portfolios whose incomes are only derived from rent In reality the majority of mainstream buy to let lenders target landlords with smaller portfolios who often have a day job too because they don t want to be over exposed to risk on property Fortunately there are a number of lenders out there who don t impose additional income requirements and who like landlords with large property portfolios The majority of these lenders can only be accessed by intermediaries including Mortgages for Business of course so do get in touch to talk through options that might work for you Loan facilities Historically loan facilities secured on portfolios were great for providing financial flexibility in managing property but recent years have seen banks become more controlling over this method of borrowing making it more difficult for borrowers to extract capital for redeployment and levying excessive fees If you have become disenchanted with

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/the-importance-of-reviewing-your-buy-to-let-property-portfolio/ (2016-02-16)
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  • Mortgage brokers reveal increasing confidence | Mortgages for Business
    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 Mortgage brokers reveal increasing confidence 03 12 14 Written by Jeni Browne Mortgage brokers in the UK have revealed increasing levels of confidence in the third quarter after agreeing an average of 80 mortgage cases in the past 12 months In terms of confidence 96 per cent of brokers were pleased with the outlook for their firm the study from BDRC Continental and produced on behalf of Halifax revealed This figure is 11 per cent higher than in the second quarter and up five per cent from the same quarter in 2013 In terms of business buy to let accounted for 18 8 per cent of all brokered agreements with homemovers accounting for 28 7 per cent and remortgages at 20 per cent First time buyers accounted for 23 8 per cent of business with business levels increasing throughout the quarter The figures also suggest that the impact of new regulation on the housing market has had little impact on business or on confidence levels An average of 80 mortgage cases were written by brokers in the past quarte representing a four per cent rise on the second quarter and a two per cent rise from the same quarter a year ago This means business volumes are now nearly at the level they were at in the second quarter of 2008 before the financial crisis Halifax revealed Despite the optimism Ian Wilson head of Halifax Intermediaries suggested that activity levels could ease in the fourth quarter in line

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/mortgage-brokers-reveal-increasing-confidence/ (2016-02-16)
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  • Buy to let yields higher in the north | Mortgages for Business
    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 Buy to let yields higher in the north 02 12 14 Written by Simon Whittaker Buy to let properties in the north of England and Scotland offer investors some of the highest yields in the UK new research has revealed Rapidly expanding city populations and relatively low land prices are behind the high yields the research by TotallyMoney com has revealed In terms of yields which are calculated from the average monthly rent and average property asking prices Sheffield s S1 postcode offers investors the best returns Buy to let property in the Steel City returns 11 06 per cent overall with average rents of 645 monthly and an average property price of just under 70 000 Aberdeen s AB24 postcode offers returns of 10 43 per cent while AB11 offers yields of 8 12 per cent while G44 in Glasgow offers a yield of 7 9 per cent Southampton the only southern city in the top ten offers a yield of 8 62 per cent for its SO17 postcode This is the area immediately surrounding the main university with the student population providing a steady stream of property demand It is a similar situation in Manchester as the city s M14 postcode is also home to the main body of student housing with yield returns of 8 71 per cent Yields in Manchester were up to four times higher than some areas of London such as Chelsea where the higher property prices impact on the yields available Bradford claimed its place in the top ten with a yield of 9

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/buy-to-let-yields-higher-in-the-north/ (2016-02-16)
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  • Warning for part-time landlords as numbers swell | 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 Warning for part time landlords as numbers swell 01 12 14 Written by Jeni Browne The number of part time landlords in the UK is increasing as more people are looking to rent property for additional income new research has revealed A study from insurance firm LV discovered that more than seven per cent of Britons are now renting property for this purpose earning an average of 678 per month Of these accidental landlords 55 per cent found themselves in the position after moving to a new property and then renting their old one While some people chose to buy to let others were forced into renting their old homes as they were simply unable to sell them LV has warned that many of these part time landlords may not be meeting the regulations which govern the private rented sector In many cases a letting agent is not used as the house owners manage the property and the letting themselves More than a quarter of people who were self managing their properties had not had a gas safety check carried out in the past 12 years putting them at risk of a 20 000 fine and prosecution This could wipe out any potential returns on a rental property so it is essential that part time landlords are aware of their responsibilities Letting agents can handle the regulatory side of the rental market but consideration needs to be given to how such a move may impact upon potential returns Renting out a property can be a great way to cover

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/december/warning-for-part-time-landlords-as-numbers-swell/ (2016-02-16)
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  • Generation Rent report showcases investment opportunities | Mortgages for Business
    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 Generation Rent report showcases investment opportunities 28 11 14 Written by Steve Olejnik Generation Rent has revealed that 104 parliamentary constituencies could contain more renters than homebuyers by 2021 but where should property investors look In regions where demand for rental property is set to increase buy to let landlords and investors could look to boost their portfolios to maximise possible returns Should the predictions from Generation Rent based on current market trends occur then 16 per cent of MPs will represent tenant dominated regions of the UK London In London around half of the population already rent properties and tenants are set to outnumber homeowners in 49 of 73 constituencies by 2021 Hackney and Shoreditch had the highest proportion of renters at the time if the last census in 2011 with 76 per cent of property rented This is expected to grow to 79 per cent by 2021 while three quarters of properties in Bethnal Green and Bow Hackney North Stoke Newington and Hammersmith are rented For buy to let investors and landlords there regions have displayed growth in rent years and still offer the potential for more The South East Southampton Brighton Slough and Reading are all set to be tenant dominated in the next seven years meaning investors could look to snap up properties in these locations Milton Keynes North is expected to see an 18 per cent increase in the number of rented properties growing from 28 per cent to 46 per cent by 2021 The North Bradford Hull Sheffield

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/generation-rent-report-showcases-investment-opportunities/ (2016-02-16)
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  • New tenancies increase by 20 per cent annually | Mortgages for Business
    team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight New tenancies increase by 20 per cent annually 27 11 14 Written by Jeni Browne The number of new tenancies agreed has soared by 20 per cent in the past year the latest Sequence National Rental Report for November has shown The report found that UK rents excluding London have increased by four per cent to reach 713 in the past year while a month on month seasonal dip of one per cent was noted Tenant demand is up by 14 per cent on an annual basis while supply has dropped by 17 per cent meaning six tenants are chasing every rental property up from less than five a year ago In London average rents have increased by six per cent annually to 1 580 although a seasonal drop of one per cent on the month was also noted Demand in the capital is significantly higher than in the rest of the country with 11 tenants chasing every new rental property that comes onto the market This has also increased from a year ago when although still high in relative terms less than ten people were chasing each property There are plenty of opportunities for property investors and buy to let landlords to take advantage of this demand although high property prices in some locations will limit the returns on offer Demand for rental properties has increased dramatically up 14 per cent annually due to many would be buyers being priced out of the property market said Stephen Nation head of lettings for Sequence This is resulting in a soaring number of new tenancies which are up by a fifth on the year and the competition for properties has driven up rents He added that the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/new-tenancies-increase-by-20-per-cent-annually/ (2016-02-16)
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  • Property prices up three to five per cent in 2015 predicts Halifax | 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 Property prices up three to five per cent in 2015 predicts Halifax 26 11 14 Written by Jeni Browne UK house prices are expected to increase by between three per cent and five per cent in 2015 a new report from the Halifax has predicted The latest house price inflation report listed several key factors as limiting demand in the coming year including higher interest rates and a decline in affordability Despite this the report suggests that economic growth increased employment low mortgage rates and a gain in real earnings could ensure demand remains strong Price growth in the New Year will be particularly pleasing for property investors and buy to let landlords who will see capital gains increase as a result Regional variation is expected to remain in 2015 although the report does suggest that demand and activity at the top end of the London market could reduce due to economic pressures In the long term price growth is expected to increase broadly in line with income growth while higher levels of house building should limit upwards house price pressure claims the report The fortunes of the housing market are closely tied to developments in the wide economy said Halifax s housing economist Martin Ellis He explained that the improving UK economy has boosted demand in the past two years which also increased investment and a surge in the buy to let market House prices in the three months to October were 0 8 per cent higher than in the preceding three months marking the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/property-prices-up-three-to-five-per-cent-in-2015-predicts-halifax/ (2016-02-16)
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  • October rents fall reveals Homelet Index | Mortgages for Business
    Insight October rents fall reveals Homelet Index 25 11 14 Written by Jenny Barrett Rental prices across most regions of the UK fell in October the latest Homelet rental index has revealed Outside of London the average rent is now 708 and while rents are still higher than a year previously the index suggests a cooling of the market The index also revealed that Plymouth Cardiff and Leeds were deemed the most affordable major cities to rent in the UK with London Edinburgh and Birmingham the least affordable The latest figures mean Homelet has recorded lower rental prices in each of the last three months in many regions of the UK Regions including Greater London East Anglia the South East and the South West of England all regions that had previously seen high growth are now recording lower rents In Greater London rents agreed in October were 3 8 per cent lower than in September while drops of 3 1 per cent and 5 4 per cent were recorded in the South East and East Anglia respectively But it was in the South West where the biggest monthly fall in rents occurred falling by 9 3 per cent between September and October In areas where previous growth was not as apparent including in the North East and the East Midlands growth of 3 8 per cent and 3 4 per cent was noted Outside of England rents in Scotland fell by 4 4 per cent on a monthly basis but were up 2 6 per cent annually while Wales saw a monthly decrease of one per cent but annual growth of 3 3 per cent In London rents fell by 3 8 per cent compared to a month previously meaning average rent in the capital now stands at 1 411

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/october-rents-fall-reveals-homelet-index/ (2016-02-16)
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