Breaking News
Significant rise in Mortgage approvals in January
According to a news release out yesterday from the BBA, it mentions a significant rise in mortgage borrowing at the start of this year, the BBA is the UK’s leading association for the banking sector. The figures in the release showed. The number of mortgage approvals in January was 33% higher than a year ago,…
Allen Walkey
Londoner’s require big pay rise to buy a house
The National Housing Federation’s (NHF) Home truths report released on tueday reveals that the average London home now costs approx £526,000, that is approx 16 times the average Londoner’s salary of £33,000 a year, this means Londoners would require a 266% pay rise to buy a home in the capital. The research highlighted that low supply…
Allen Walkey
Strong performance for Barratt Developments
Barratt Developments PLC Half Yearly Financial report for the 6 months ended 31st December 2015. Strong performance reported in that half. To see the report in full click here Commenting on the results David Thomas, Chief Executive of Barratt Developments PLC said: “In line with our strategy, we have stepped up the number of completions…
Allen Walkey
Numbers of young tenants at a high
The continued rise in the cost of buying a home is pushing more and more young people to the Private Rented Sector (PRS) than ever before, according to newly published official figures. The Office for National Statistics (ONS) in its latest report on the housing sector states that only 9% of people aged between 20…
Allen Walkey
House builder Persimmon posts bumper results
Persimmon is the latest house builder to benefit from the UK’s chronic housing shortage after reporting a sharp increase in annual profits yesterday. Higher prices and higher demand driven by a lack of supply has pushed sales up by 13% to £2.9bn in the year to the end of December. Nicholas Wrigley, Group Chairman, reportedly said:…
Allen Walkey
Fixed rate and remortgage lending.
According to a Latest News article from the Mortgage Advice Bureau their National Mortgage Index (NMI) shows more people are choosing to fix their mortgage rate. When compared to the number of people fixing last year, it shows that fixing is now 1.6% more popular than it was a year ago, when 93.1% decided to., there…
Allen Walkey
Bovis Homes Group reports record profits
Bovis Homes Group PLC yesterday announced its final results for the financial year ended 31 December 2015, in it they stated that – Significant revenue growth driven by record legal completions and a strong increase in average sales price. Operational highlights for 2015 were – Land investment aligned with growth strategy – Achieved planned growth in…
Allen Walkey
Healthier returns for Landlords
According to the latest Buy-to-Let Index from Your Move and Reeds Rains, taking into account both rental income and capital growth, the average landlord in England and Wales has seen total returns of 12.0% over the twelve months to January, this figure is up from 11.25% in the twelve months to December. Reed Rains and…
Allen Walkey
Residential and Commercial Property after Brexit
If Brexit is the outcome of the EU referendum announced for the 23rd of June by Prime Minister David Cameron, then a drop in the prices of residential and commercial property could happen. The date has been set and the in’s and out’s campaigns will now commence in earnest in the run up to the…
Allen Walkey
LSL pay £9.1 Million for a percentage of Colchester based Mortgage Company.
I spent a leisurely afternoon last Friday, after the news was made public, with one of the smaller share holders of the very recent LSL deal to purchase 65% of the Colchester based Mortgage First business, and I rejoice with them in the rewards that sticking at a business and within a industry sector for a number…
Christopher Walkey
New regulations Re: Holiday Rentals in Spain
Following years of debate, the Junta de Andalucía (the regional government of Spain) has finally passed Decree 28/2016, this relates to properties that are rented out as tourist accommodation across the region. New regulations will be introduced for property that is used for tourist property rental, owners will be required to register and meet various…
Allen Walkey
Turn round in Home Ownership
According to a press release yesterday from the Department for Communities and Local Government and Brandon Lewis. Figures have shown the success of government initiatives to give hard-working families across the country the chance to realise their ambition of home ownership. New figures show that more than a decade-long decline, starting in 2003, in the…
Allen Walkey
More rent than pay a mortgage in london
New figures just out show that renters in the capital outnumber homeowners for the first time in a more than a decade, government data released yesterday shows that last year 898,000 London households were occupied by private renters. The figures, which provide data from as far back as 2005, show that a decade ago just…
Allen Walkey
Gross lending up year on year.
The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £17.9 billion in January. This is 9% lower than December’s lending total of £19.8 billion, but 21% higher than the £14.8 billion lent in January last year. CML economist Mohammad Jamei reportedly said: “Lending started the year on a positive note. Our monthly…
Allen Walkey
Reapit and raterAgent announce partnership.
Reapit and raterAgent have partnered up to help agents win more business and strengthen their fees by maximising their use of testimonials from their current and past clients. Agents using Reapit’s RPS software will now be able to generate an e-mail to a contact directly from the software requesting a raterAgent review. The free integration…
Christopher Walkey