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  • Gross rental yields stable in October while tenant arrears decrease | 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 Gross rental yields stable in October while tenant arrears decrease 24 11 14 Written by Steve Olejnik Gross yields for rental properties in England and Wales remained stable in October the latest Buy to Let Index has revealed According to the data gross yields for the average UK property were 5 1 per cent in October 2014 the same as a month previously However this figure represents an annual fall of 0 3 per cent as yields in October 2013 reached 5 4 per cent thanks to a booming buy to let market The Index from Your Move and Reeds Rains showed that when price growth and void periods are taken into account total annual returns on an average rental property are 13 3 per cent for the 12 months to October costs such as maintenance and mortgage repayments are not included in this figure This represents a return to the highest recorded level last seen in August 2014 while the figure for the preceding 12 months to October 2013 was 8 2 per cent in comparison In real terms it means the average landlord in England and Wales has seen a return before deductions of 22 434 in the last 12 months This is comprised of rental income of 8 404 and average capital gains of 14 030 although maintenance costs and mortgage payments would need to be deducted An overall improvement in tenant finances was also noted in October with 6 9 per cent of all rent in arrears down from 7 2 per cent in September and 7

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/gross-rental-yields-stable-in-october-while-tenant-arrears-decrease/ (2016-02-16)
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  • Residential rents reach record highs | Mortgages for Business
    team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Residential rents reach record highs 21 11 14 Written by Jeni Browne Rents in England and Wales climbed to a new record high of 770 per month in October latest research has revealed The Buy to Let Index for October from Your Move and Reeds Rains revealed that rents are up 1 5 per cent on a yearly basis from the same month in 2013 On a monthly basis rents increased by 0 3 per cent but growth was actually slower than that noted in the previous two years In the 12 months to October 2013 growth of 1 9 per cent was noted while that figure increased to 3 4 per cent for the year preceding that Rents have edged to a new record and the rental market is pulsing with new demand said David Newnes director of estate agents Reeds Rains and Your Move Yet at the same time tenants are getting on top of their finances helped by a cooling pace of such rent rises Better affordability is good for tenants in the longer run too and for landlords who can rely on steady revenue to pay the bills He added that this was supporting a cycle of gradual rental increases and that slow increases in housing supply meant rents were not rising as fast as in previous years Geographic differences Rents in nine out of ten regions of the UK are higher than they were a year ago with the East of England seeing the highest annual rises at a rate of 4 9 per cent Meanwhile the East Midlands and the North West also saw steady increases rising by annual rates of 3 6 per cent and 3 1 per cent

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/residential-rents-reach-record-highs/ (2016-02-16)
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  • One in six shared homes lacks a living room | Mortgages for Business
    Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight One in six shared homes lacks a living room 20 11 14 Written by Jenny Barrett One in six shared rental properties in the UK is does not have a living room as landlords attempt to maximise returns and tenants look to reduce rents new research shows According to the survey of more than 10 000 users on SpareRoom co uk 16 per cent of shared homes either lack a living room or have seen it converted into an additional bedroom Buy to let landlords can maximise returns by ensuring that all space is used in shared properties while tenants believe they can pay less if a greater number of people are sharing The latest figures are comparable with a similar survey three years ago when ten per cent of shared properties lacked a living room In London demand for rooms in houses and flat shares is at its highest point with ten people searching for every available room Of those shared properties 19 per cent have no living room while 17 per cent of Londoners share bedrooms to reduce costs Not all of those people are couples either with five per cent of sharers bunking with a roommate to bring down rental payments Beyond the capital Glasgow and Liverpool were the cities most unlikely to have shared properties without a living room found in 16 per cent of cases Landlords looking to maximise returns on their buy to let investments is one reason for converting living quarters into bedrooms but the research shows tenants are also having their say Living with more people can reduce rents and 69 per cent of people in shared accommodation say they

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/one-in-six-shared-homes-lacks-a-living-room/ (2016-02-16)
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  • House prices up 12 per cent annually, ONS claims | 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 House prices up 12 per cent annually ONS claims 19 11 14 Written by Jeni Browne UK house prices have increased by more than 12 per cent in the past year allowing landlords to accumulate capital on their property official data shows Official figures from the Office for National Statistics ONS show that growth reached 12 1 per cent in the year to the end of September reporting higher growth than that noted in other surveys The rate is up from 11 7 per cent in the year until August with London being a major driver for the increase as prices have risen fastest in the capital London saw an increase of 18 8 per cent in property values meaning landlords in the capital are seeing rising returns in the form of capital accumulation The house price figures from the ONS are based on home purchases in the UK that are mortgage financed Data suggests the average property price is 272 000 while costs are increasing at the fastest pace since 2007 on a year by year basis On a monthly basis prices increased by 0 5 per cent between August and September while the official figures contradict other data from mortgage lenders both Nationwide and Halifax suggested that house price growth slowed in the 12 months until the end of October Meanwhile other commentators have suggested that the housing market has reached a plateau and Savills has suggested the housing market will be subdued in the run up to May s General Election Despite this stable yields and high capital accumulation means buy to let property continues to appeal to

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/house-prices-up-12-per-cent-annually-ons-claims/ (2016-02-16)
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  • Mortgages for Business announces rebrand | Mortgages for Business
    apply Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy 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 Mortgages for Business announces rebrand 19 11 14 Written by Amy Earl Mortgages for Business has today announced the official launch of its new website and corporate identity David Whittaker managing director of Mortgages for business commented The new website and brand are more closely aligned with the company s strategic vision for future growth and will enable us to refresh how we supply our clients with the very latest market information The new website offers improved navigation and functionality throughout alongside a new clearer design Clients can now access up to date information on current trends including regularly updated blogs and videos helping them to make informed property investment decisions The website now allows direct contact to individual members of staff in keeping with Mortgages for Business ethos of providing a personalised and transparent service David Whittaker managing director of Mortgages for Business commented We have a clear ethos on the way all clients should be treated when they organise a mortgage through us Although our

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/mortgages-for-business-announces-rebrand/ (2016-02-16)
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  • Buy to let tops property market activity as valuations dip in October | Mortgages for Business
    TV Helping brokers with Buy 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 Buy to let tops property market activity as valuations dip in October 18 11 14 Written by Jenny Barrett The total number of housing valuations fell by 20 per cent in October although the buy to let sector performed more strongly new research has claimed The latest report from Connells Survey and Valuation revealed that buy to let activity decreased by seven per cent annually compared to a ten per cent decrease in overall market activity This marked an improvement from a month previous when a drop of 12 per cent was noted in the 12 months to September 2014 Buy to let performed more strongly than the overall market on a monthly basis too seeing a decrease of 17 per cent compared to a decrease in total valuations of 20 per cent While the housing market is now less animated than in September the slowdown is broadly in line with seasonal expectations and is not an alarm bell explained John Bagshaw corporate services director at Connells He added that policy changes in recent months had impacted the housing market and suggested that a further lull might be noted in the run up to the General Election in May 2015 Buy to let performed more strongly than the overall market however as regulation has not impacted it in the same way Policies like loan to income caps have introduced stricter lending rules but crucially do

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/buy-to-let-tops-property-market-activity-as-valuations-dip-in-october/ (2016-02-16)
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  • Cost of tenancy agreements rise year on year | Mortgages for Business
    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 Cost of tenancy agreements rise year on year 17 11 14 Written by Steve Olejnik Agreeing a new tenancy is 3 7 per cent more costly than 12 months ago according to Countrywide Residential Lettings The increase is driven by slowing house prices and an increase in demand in London and the East of England where properties are empty for less than 14 days a year on average That compares to properties in Wales the North East and the North West where they are empty for an average of 18 days a year as finding new tenants is more difficult in these locations The cost of agreeing a new tenancy in London increased by 7 4 per cent annually according to Countrywide reaching 1 299 per month on average in October 2014 Meanwhile the UK average for sitting tenants across the UK was 1 7 per cent significantly below the figure for agreeing a new tenancy This is due to tenants agreeing 12 18 and 24 month fixed deals where the landlord does not pass on any increases to those renting Despite the quick turnaround times from when one tenant leaves till another is found buy to let landlords have still been warned to consider void periods While the level of demand means that the time taken to find a tenant is at a near record low landlords should still factor in a short period when their property will be empty added Nick Dunning group commercial director at Countrywide While voids

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/cost-of-tenancy-agreements-rise-year-on-year/ (2016-02-16)
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  • Renting could overtake homeownership claims Savills | Mortgages for Business
    Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Renting could overtake homeownership claims Savills 14 11 14 Written by Jenny Barrett The private rented sector could overtake homeownership as the UK s dominant form of housing in the future new research from Savills has claimed A combination of cultural and economic factors will be behind the switch while Savills predicts the number of private rented households in England and Wales will grow by 1 2 million by 2019 Such growth would see the number of rented homes top the six million mark some 24 per cent of the national total Changing views While the rented sector grows the number of owner occupied homes is expected to fall by 200 000 to 14 67 million 59 per cent of all households These figures suggest that homeownership will remain the leading part of the housing market for some time yet but Savills revealed that views towards owning a home are changing The younger generation in particular prefers to rent and as they get older it is likely to mean that homeownership is no longer viewed as the norm Two thirds of all households where the primary resident is under 35 years of age will be rented by 2019 equating to around 2 8 million homes half a million more than the current figure Savills also predicts strong growth in the 35 to 49 year old age bracket with rented property in this sector expected to increase by 30 per cent or more than two million properties The rise in renting is expected to be most pronounced in London as an extra 250 000 households is expected to be rented by 2019 Rented housing would therefore account for 36 per cent of housing in the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/november/renting-could-overtake-homeownership-claims-savills/ (2016-02-16)
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