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  • Rent across all regions up year on year | 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 Rents across all regions up year on year 16 10 14 Written by Jenny Barrett UK rents have increased at a consistent pace throughout the last year with average rent in Q3 reaching 903 per month the latest data shows The index from Countrywide Residential Lettings shows an increase of 21 per month compared to Q2 when the average stood at 882 In September average UK rents reached 916 per month the highest level for 32 months and representative of 5 2 per cent year on year growth All regions of the UK saw a year on year increase in rents apart from the Midlands where neither a rise or fall in rents was noted Greater London saw the greatest increase up 9 8 per cent compared to Q3 2013 while the east of England also saw a rise of 7 3 per cent year on year Arrears have also remained stable according to the index with many regions seeing a decrease and the majority of any increases are below one per cent All property sizes saw an increase in rents on a quarter on quarter and year on year basis with four bedroom or larger properties seeing the greatest increase up 5 8 per cent year on year to 1 524 per month Three bedroom properties were up 4 8 per cent to 956 per month while growth of 4 1 per cent to 822 a month was noted for two bedroom properties Countrywide also warned that buy to let investors in the South East

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/rents-across-all-regions-up-year-on-year/ (2016-02-16)
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  • Predicted house price growth of 30 per cent | 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 House price growth of 30 per cent predicted 15 10 14 Written by Jeni Browne House prices across England and Wales are set to increase by 30 per cent during the next five years according to a new report from Oxford Economics The economic forecaster suggested that the south will be the biggest beneficiary and added that a north south divide would be enhanced in the years until 2019 London prices are forecast to rise by nearly 33 per cent while the south east could increase by 37 per cent although sustained growth is expected across the country The north west will be the slowest riser but prices in the region are still expected to climb by 24 per cent This represents great news for property investors across the country as buy to let properties could see significant capital appreciation during the next five years Property and economic data that used both asking and sold prices for the calculations formed the study as well as surveyor valuations and analytics from forecasting models Areas within commuting distance to London performed particularly well with Southampton set for a 43 per cent rise and Luton and Brighton both set for a 41 per cent boost by 2019 The home counties and outer boroughs of the capital are set to notice a ripple effect of approximately one year of rising prices in London However prices in the capital are expected to rise at a slower rate than the south

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/house-price-growth-of-30-per-cent-predicted/ (2016-02-16)
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  • Landlord immigration check reminder | 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 NLA provides landlord immigration check reminder 14 10 14 Written by Steve Olejnik The National Landlords Association has warned landlords and buy to let investors about the need to remember forthcoming legislation changes From the start of December landlords in the West Midlands will need to check the immigration status of their tenants as part of the Immigration Act The pilot scheme means they must carry out right to rent checks to ensure potential tenants are entitled to live in the UK before tenancies are agreed The rules will become widespread across the UK in 2015 and landlords failing to carry out checks could face fines of up to 3 000 It means landlords and investors will need to ensure the necessary checks are made or they could face losing a considerable portion of their returns The NLA has recommended that landlords always check tenants thoroughly in order to minimise the risk of letting to unreliable tenants In some areas as early as this December the Immigration Act will place a legal responsibility on landlords to help prevent illegal immigrants from accessing private rented accommodation explained NLA chairman Carolyn Uphill It has always been best practice to conduct a thorough check on prospective tenants but if landlords don t do their due diligence on tenants they could be in for a hefty penalty She added that the NLA works to ensure that those letting remain within the law and that assistance is available for any landlords who are unsure of the law changes No specific instructions

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/nla-provides-landlord-immigration-check-reminder/ (2016-02-16)
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  • CML data reveals lending drop | Mortgages for Business
    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 New CML data reveals August lending drop 13 10 14 Written by Jenny Barrett Lending in August decreased slightly compared to July marking the first time since February that lending declined according to new data from the Council of Mortgage Lenders Drops in August lending were noted among first time buyers home movers and those looking for buy to let finance compared to a month previously However all aspects of lending were up compared to a year previously with total lending in August 2014 totalling 18 1 billion While this is eight per cent lower than in July when lending totalled 19 7 billion it represents a ten per cent rise from August 2013 16 4 billion Home purchase lending to home buyers decreased month on month with both the total number of loans and their value down by three per cent In comparison to August 2013 the number of loans was up by eight per cent while the value of these loans has increased by 19 per cent Buy to let lending figures A total of 15 300 buy to let loans occurred in August accounting for lending of 2 1 billion a 13 per cent drop in terms of both number and value compared to July However this figure represents a six per cent increase by volume and an 11 per cent rise by value compared to August 2013 Of that total figure of buy to let loans 8 400 were advanced for property purchase in August while 6 700 were for remortgage The number of

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/new-cml-data-reveals-august-lending-drop/ (2016-02-16)
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  • Rise in prime buy to let could impact on rental returns | 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 Savills claim rise in prime buy to let could impact on rental returns 10 10 14 Written by Steve Olejnik The levels of buy to let property entering the prime London market from overseas buyers could dampen rental returns Savills has claimed A spike in prime buy to let property including substantial new builds purchased by overseas buyers was identified in the firm s Market in Minutes Prime Lettings Q3 2014 report This is boosting the availability of property in the prime capital market with the current situation a result of supply issues rather than demand according to the research Lucian Cook director of residential research said the new buy to let options are adding to the pool of rental options available for tenants The highest annual rental growth in prime London has been seen in the north and east of the capital with young professional sharers couples and overseas students a driving force As is typical at this time of year when the university year begins wealthy international students drove the demand most evidently in prime central London due to the proximity of world class universities added Mr Cook Rental growth averaged 1 3 per cent during the past year across London s commuter belt with the strongest growth noted where commutes to central areas take around an hour The prime markets saw growth of 1 4 per cent with one and two bedroom flats in particular demand while similar growth exists for prime properties in the commuter zone However a significant gap in average value per square foot of floor space exists as the cost

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/savills-claim-rise-in-prime-buy-to-let-could-impact-on-rental-returns/ (2016-02-16)
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  • Vanilla properties losing flavour with landlords | Mortgages for Business
    Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Vanilla properties losing flavour with landlords 10 10 14 Written by Simon Whittaker Rental yields on standard or vanilla buy to let properties are falling according to the latest Mortgages for Business Complex Buy to Let Index Gross yields on vanilla buy to let properties fall to 5 9 in Q3 2014 as purchase prices rise However larger multi unit blocks MUFBs see yields reach 8 6 in Q3 up from 7 3 in Q2 Houses in multiple occupation now yield 8 9 More complex properties with multiple tenancy agreements allow landlords to add extra value Record number of buy to let mortgages available now 707 loan products on the market Rental yields on standard or vanilla buy to let properties are falling according to the latest Mortgages for Business Complex Buy to Let Index Gross yields on vanilla buy to let properties now stand at 5 9 as of Q3 2014 down from 6 3 in the second quarter and 6 4 in Q1 2014 This leaves yields for standard buy to let landlords at the lowest level since the final quarter of 2013 when gross vanilla yields last stood at 5 9 David Whittaker managing director of Mortgages for Business comments Rents on the plainest buy to let properties have not kept pace with rapid price rises in many areas suppressing average yields This illustrates two key points for landlords location matters and the simplest investments are not always the most lucrative Other property types have much higher yields Multi unit freehold blocks or MUFBs now provide landlords with a gross yield of 8 6 in Q3 2014 up from 7 3 in the second quarter and the highest yield on record for this property type Houses in multiple occupation HMOs have seen rental yields dip to 8 9 in the third quarter from 9 3 in Q2 This is considerably lower than the all time record set one year ago for HMO yields when these properties provided an average yield of 11 8 in Q3 2013 However houses in multiple occupation still provide an extra three percentage points above vanilla buy to let David Whittaker managing director of Mortgages for Business continues Landlords with multiple tenants at each property can earn a better yield by providing what people need often just a room rather than a whole flat This must be done responsibly for example HMOs often require a licence from the appropriate Local Authority while landlords will also need a specialist mortgage product for more complex property types However if those hurdles are met landlords can earn not just a higher but often a more reliable return as part of a diversified investment Choice between different buy to let mortgage products is now at a fresh all time record At the end of Q3 the number of available buy to let mortgages on the market

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/vanilla-properties-losing-flavour-with-landlords/ (2016-02-16)
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  • Student property yields reach 13 per cent in North West | Mortgages for Business
    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 Student property yields reach 13 per cent in North West 09 10 14 Written by Jeni Browne Landlords letting to students have noted gross cash rental yields of 13 per cent in some parts of the UK according to new research The Mistoria Group research showed that student property in the North West saw average gross cash rental yields reach this figure for the first three quarters of 2014 This is significantly higher than the 6 37 per cent forecast as an average student property yield for the current year According to the Mistoria Group the yields for student property in the North West are up eight per cent year on year and up 22 per cent across the last five years Student property could also provide yields that are between five and six per cent higher than the buy to let market as a whole Mish Liyanage managing director of The Mistoria Group said the sector offers strong returns for investors thanks to continuous demand and rising student numbers The domestic student population continues to grow with an extra 30 000 university places offered in 2014 and UCAS has reported they are expecting an all time high of 500 000 applications this year he explained Student property has providing continuously high yields across the past five years with rental incomes remaining stable even in the face of property price increases As student properties are occupied for most

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/student-property-yields-reach-13-per-cent-in-north-west/ (2016-02-16)
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  • BM Solutions - Attention all landlords | Mortgages for Business
    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 Attention all landlords with a buy to let mortgage from BM Solutions 08 10 14 Written by Jeni Browne Is your initial rate period about to finish or are you already paying the BM Solutions SVR of 4 84 Are you struggling to remortgage because your rental income no longer meets lenders stricter stress test calculation If you answered YES to either or both of these questions please call us ASAP to discuss switching to a better rate Call 0845 345 6788 now Switching is quick and easy and you could be on a better rate in a couple of days potentially saving you s Crucially there is no underwriting involved which is great because Saves time and money No legal fees If your rental income doesn t meet the new industry standard Rent to Interest calculation of 125 5 you may not get another opportunity to remortgage Some switchers may also qualify for a free valuation Still not convinced Here s an example of how switching could save you money If you have a mortgage of 150k on which you are currently paying BM Solutions Standard Variable Rate of 4 84 Assuming that this rate stays the same over the next two years you would pay 14 520 interest However if you switched to say the

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/october/attention-all-landlords-with-a-buy-to-let-mortgage-from-bm-solutions/ (2016-02-16)
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