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  • Annual house price growth reaches 9 per cent | Mortgages for Business
    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 Annual house price growth reaches nine per cent in September 27 10 14 Written by Steve Olejnik Annual UK house price growth reached nine per cent in September showing a marginal increase from August according to Hometrack s first UK Cities House Price Index The figures represent an increase of 0 1 per cent from August while 14 of 20 cities recorded house price inflation below the rate of nine per cent London and Cambridge saw the highest levels of growth as house prices were up 18 1 per cent and 17 9 per cent respectively equivalent to increases of more than 60 000 and 53 000 Bristol Oxford and Portsmouth also noted increases of more than ten per cent showing areas where potential property investors may see high levels of capital accumulation Buy to let in university cities is increasing in popularity thanks to the levels of rental yields on offer so further house price growth will only increase possible returns During the last year the average UK house has seen its value boosted by 15 300 although some cities did note growth on a much smaller scale For example Glasgow and Leicester saw prices increase by 4 3 per cent and 4 8 per cent respectively while Liverpool Birmingham and Aberdeen saw an increase of 5 3 per cent It means Glasgow which recorded the lowest increase of the 20 cities studied saw a rise of just 4 500 to its average property prices Local economies drive their local housing markets explained Richard Donnell research director Hometrack Cities are the focus for employment and

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/annual-house-price-growth-reaches-nine-per-cent-in-september/ (2016-02-16)
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  • North/South divide for buy to let | Mortgages for Business
    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 has north south divide claims BM Solutions 24 10 14 Written by Jeni Browne The south east and greater London have the strongest levels of tenant demand but northern regions provide the best yields BM Solutions has claimed The firm s quarterly index highlighted Yorkshire and Humberside Scotland and the North East as areas where buy to let yields are highest More than 1 000 National Landlords Association members took part in the study and levels of optimism regarding the UK s economic outlook have also increased Compared to 12 months ago when 28 per cent of landlords were optimistic about the future that figure has now risen to 37 per cent Ten per cent of landlords revealed that demand rose significantly in the last quarter a similar proportion to what was noted in the previous quarter Tenant demand was at its highest in the south east and greater London where two in five suggested it was rising That compares to the North East where demand for buy to let property was perceived to be weakest despite the strong yields in nearby Yorkshire and Humber This region provides average yields of 6 8 per cent compared to 5 3 per cent in central London and five per cent in the area immediately outside the capital Growth is expected across the buy to let market according to the index with 27 per cent of landlords planning to increase their portfolios in the next

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/buy-to-let-has-northsouth-divide-claims-bm-solutions/ (2016-02-16)
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  • Landlords own 1 in 5 rental properties | Mortgages for Business
    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 One in five UK properties owned by landlords 23 10 14 Written by Jenny Barrett The last decade has seen buy to let investors double their property portfolios with one in five UK properties now owned by landlords The research from Paragon suggests two million private landlords now own and rent out five million homes This means 18 per cent of households are now renting while a further one million homes are expected to be purchased by buy to let investors during the next five years Meanwhile government figures suggest that one in three properties will be owned by private landlords by 2032 Paragon s report titled 18 Years of Buy to Let used information from many different sources and looked at the development of mortgages aimed at private landlords since their introduction in 1996 In that period the number of properties owned via buy to let has nearly doubled with the total amount of property worth in the region of 1 trillion Buy to let was extremely popular in the run up to the financial crisis and the mortgage drought that followed only swelled the numbers of people looking to rent Low interest rates also favoured landlords making it possible to hold on to property even with negative equity In recent years the number of products available to landlords has increased at a rapid pace with more than 700 now available Mortgage lending has also

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/one-in-five-uk-properties-owned-by-landlords/ (2016-02-16)
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  • When will rates go up? | Mortgages for Business
    this side of the election 22 10 14 Written by Steve Olejnik There has been much speculation over recent weeks on when the Bank of England s Monetary Policy Committee will vote to raise Bank Rate In fact we ve had a running bet in the office since Easter with my money going long I dug my heels in at late 2015 at the very earliest and whilst I appear to be a lone voice amongst the MFB gamblers I thought I d set out below some of the key reasons why I don t believe we will see a pre election rate rise It was only two weeks ago that analysts were predicting a February rise following Mark Carney s announcement that the first rate increase was not far away Those with money on a pre election rise were preparing their high fives but I still can t see it Wages My biggest reason for going long was the continuing slow growth in the national wage average I have always been of the simple opinion that Bank Rate would not go up until wage growth was close to the rate of inflation Inflation recently dropped to 1 2 but with wage growth still lagging behind at 0 7 I can t see a majority vote in the MPC Early on Mark Carney stated that they would be keeping an eye on real earnings when setting rates and I see no reason why this would change Inflation The September inflation figures are out and the Consumer Prices Index fell to 1 2 a five year low Fuel costs have fallen by 6 and it would appear that the price war amongst the supermarkets has led to a 1 5 reduction in food costs We are seeing a slowdown in growth and with inflation predicted to fall further we are unlikely to see a rate rise before the election Manufacturing Accountants BDO have recently issued their latest Business Trends report showing a steep fall in manufacturer sentiment for September The weakening Eurozone and global political uncertainty is having an effect in a number of sectors and I would expect to see manufacturing numbers starting to plateau over the coming months Global Events I cannot pretend that I saw the recent global events coming but it is safe to say that these have now contributed to uncertain markets and a delay in a rate rise We are seeing depressing reports about deflation in Europe and over the coming days and weeks I expect there to be more doom and gloom around the Eurozone with the European Central Bank having to step in with further liquidity The money markets are a good indicator of the longer term prospects and they are certainly rattled by recent events Five year SWAP rates have plummeted over the last couple of weeks by over 40bps and stands at 1 68 as I write The markets are saying that rates are going nowhere for at least 12m And

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/why-rates-will-not-go-up-this-side-of-the-election/ (2016-02-16)
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  • Portfolio growth limitation | Mortgages for Business
    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 Landlords reveal insights into portfolio growth limitations 22 10 14 Written by Jeni Browne Current conditions in the lettings market provide a number of positive factors for landlords but new research has unveiled several limiting factors as well Borrowing costs are currently low tenant demand is high and voids and arrears are down according to the main indexes all good signs for the buy to let and rental markets However BDRC s latest survey of its Landlords Panel has uncovered a series of insights that suggest accessing buy to let still has some challenges This will be particularly concerning for lenders as around a quarter of landlords are currently looking to expand their portfolios in the coming 12 months Most of them will want to use a traditional buy to let loan in order to fund such a purchase but the BDRC has suggested some issues are preventing growth Conservative lending criteria was listed as a barrier to growth by 56 per cent of the 1 000 strong survey while one in five said they were concerned over the length of the process The average application from broker interview to the release of funds was found to take eight weeks but around 20 per cent of landlords revealed it took them at least eight weeks Potentially this could delay rental income for the landlord while around 200 landlords in the study suggested slow processing by a lender meant they missed out on a property A similar

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/landlords-reveal-insights-into-portfolio-growth-limitations/ (2016-02-16)
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  • Sout East house price boom | 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 South East set for house price boom 21 10 14 Written by Steve Olejnik South East house prices have overtaken London following annual growth of ten per cent in the last year according to the latest figures from Rightmove The firm s House Price Index showed that growth in the capital was 9 6 per cent for the same period while growth of 37 per cent is anticipated across the South East for the next five years This compares favourably to a price increase of 33 per cent in London and 30 per cent as an average for the UK The ripple effect of buyers priced out of London combined with those cashing in and moving out of the capital means that the South East has taken London s boom town crown said Miles Shipside Rightmove director and housing market analyst Only growth of three per cent in seller numbers in the South East was reported on a monthly basis the slowest pick up of properties coming to market This suggests that buy to let investors and potential home owners have turned their attention to other areas of the country for opportunities to take advantage of fast appreciating property assets However with such high price increases expected in the South East certain locations are expected to see rapid growth in the coming years Mr Shipside identified Southampton Brighton and Luton as the top three locations where massive growth is expected This is not an opinion based prediction but the most comprehensive data driven forecast ever produced and it shows gains of over 40 per cent in those areas he added They are either due

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/south-east-set-for-house-price-boom/ (2016-02-16)
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  • Gross rental yields at 5 per cent | 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 Gross rental yields at five per cent 20 10 14 Written by Jenny Barrett Gross rental yields on rental properties across England and Wales were at five per cent in September according to the latest Buy to Let Index from Your Move and Reeds Rains This means gross yields are the same as they were in August but on an annual basis they are down by 0 4 percentage points from 5 4 per cent a year ago Total annual returns on a typical rental property were 13 4 per cent during the 12 months to September once price growth and void periods were taken into account This is up from 7 9 per cent in the year until September 2013 and also marks an increase from August this year when annual returns were 13 3 per cent Total gross returns of such a level mark a new all time record beating the peak seen in August 2014 and the last peak of 12 9 per cent noted in April 2010 In absolute terms it represents a return of 22 706 for the past 12 months although this is before deductions such as mortgage payments and maintenance are considered Of this figure 8 379 is rental income and 14 327 is average capital gains while if rental property prices continue to rise at the same pace as the last three months landlords could expect a return of 22 1 per cent across the next year equivalent to 40 489 per property Landlords have many costs to consider which always makes the reality of profits rather different from gross headline figures said David Newnes

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/gross-rental-yields-at-five-per-cent/ (2016-02-16)
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  • Rents reach new record levels | Mortgages for Business
    Insight Rents reach new record levels 17 10 14 Written by Jeni Browne Rents increased to new all time record levels in September according to the latest figures from the UK s largest lettings agent networks Your Move and Reeds Rains The latest Buy to Let Index for September shows average rents across England and Wales to standing at 768 a month 10 higher than a year previously September s average monthly rents were 0 8 per cent higher than in August a rise of 7 in real terms yet annual growth has slowed August saw rents 2 4 per cent higher than a year before but this fell to 1 5 per cent for the 12 months ending in September 2014 Historically rent rises have broadly tracked inflation explained David Newnes director of estate agents Reeds Rains and Your Move And as the wider cost of living grows ever more slowly so too has the cost of renting a home He added that it is likely that rents in most parts of the UK have now reached their seasonal peak and that research suggests landlords are expecting slower growth rates in the coming 12 months Another critical development in the rental market is the resurgence of demand in regions outside of London and the South East he added He pointed to regions where strong economic growth has been noted particularly the North West and East of England where rental increases on an annual basis mirror those seen in London Rents in five of ten regions increased on an annual basis across England and Wales with the East of England seeing the fastest increase with rents up 3 1 per cent annually The South West and London also saw strong annual growth with rises of 2 3 per cent and

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/rents-reach-new-record-levels/ (2016-02-16)
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