Stunning price appreciation in East of England according to Home.co.uk

Home.co.uk released their Asking Price Index yesterday 14th February headlined ‘Home Prices and Supply Surge in the East’. In their summary they mention: Whilst the London market continues to suffer the consequences of oversupply and overly high prices, it is the East of England that leads the regional league table with stunning price appreciation. They…

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Lending to first-time buyers in November up on previous month

Press release today from the Council of Mortgage Lenders (CML) headlines ‘House purchase lending up 5% in November’ Home-owners borrowed £11bn for house purchase, up 5% month-on-month and 2% year-on-year. First-time buyers borrowed £4.7bn, up 4% on October and 9% on November last year. Paul Smee, director general of the CML, commented: “November lending reflected stable…

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JUDGE AN ESTATE AGENT ON SALESMANSHIP ALONE AT YOUR PERIL!

In this fast paced, instant access, target driven world we live in, so much emphasis is often placed on salesmanship. It doesn’t matter whether you are involved in potatoes, prosecco or property, the principles behind selling and selling techniques are commonly thought of as being the same across most business sectors. Arguably, estate agents have…

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Basing your investment on rental yields

The property market continues to grow but why, when it comes to making investment decisions, does it all revolve around the price? This may seem like a strange suggestion given that almost all investments are made from a financial perspective. However, when it comes to rental yields, using them as a gauge can help determine…

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Launch of new (BTL) cashback mortgages

Launched today by The Mortgage Works (TMW) part of the Nationwide Building Society is  a  new selection of Buy-to-Let (BTL) mortgages with £250 cashback and free standard valuations, available to both remortgage and house purchase customers. Paul Wootton, managing director of TMW, reportedly said: “We have launched new products with both a cashback of £250…

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Aldermore introduces new limited edition BTL product

Aldermore Group PLC the specialist lender and savings bank announced this week the launch of its lowest ever Buy-to-Let (BTL) product at 2.99% aimed at Private Landlords, for loans up to £1 million. The product applies to private individuals looking to either purchase or remortgage a buy-to-let property, and includes: 2.99% 5-year fixed rate up to…

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House purchase Lending for July down on June.

Press release published yesterday 14th September, from The Council of Mortgage Lenders (CML) headlined ‘July house purchase lending down 13% on June’. The report leads: Home-owners borrowed £10.6bn for house purchase, down 13% month-on-month and 12% year-on-year. They took out 58,100 loans, down 14% on June and 13% on July 2015. Paul Smee, director general of the…

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Average rent in England and Wales continues to climb.

According to Your Move Buy to Let Index August 2016: The average rent in England and Wales now stands at £846 per calendar month, the highest figure ever recorded by Your Move. July’s figure is 5.2% higher than last July and 4.4% up on the £810 recorded in June 2016. South East sees rent increases…

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Changes to way buy-to-let property will be taxed.

Significant amendments to the Finance Bill slipped in at committee stage set a disturbing precedent of avoiding proper consultation and scrutiny, the Law Society said recently. The changes, which alter the way buy-to-let properties will be taxed, may result in profits from the sale of an investment property becoming liable for income tax rather than…

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Brexit fears result in Buy-to-let mortgage rates dropping

Lenders have slashed their buy-to-let mortgage rates and increased the amount they are willing to lend as a result of the Brexit result. Many of the biggest lenders have dropped their rates in an attempt to draw in new borrowers who may be looking to remortgage or purchase new properties. Following the rise in stamp…

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house purchase lending up 8% yr on yr in May

The Council of Mortgage Lenders (CML) in a press release published  today on their website states ‘May house purchase lending 8% up on a year ago’. In May (In Brief) according to CML, Home-owners borrowed £9.4bn for house purchase, First-time buyers borrowed £4.3bn, Home movers borrowed £5.1bn, Remortgage activity totalled £5.2bn and Landlords borrowed £2.6bn. Paul…

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Government vs Property – does Nanny know best?

Whether it’s to do with our sugar intake, types of cars we drive or consumption of fruit each day, it seems the Government have our best interests at heart. So one would assume that when the powers that be, “fine-tune” the property market, that they are looking to help us all. Their thinking is that by aiming to…

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Paragon Offer New BTL deals for Professsional landlords

Paragon Mortgages updates its buy-to-let (BTL) product range for professional landlords, unveiling an additional  six new products. Paragon now offer new two year fixed rate products starting at 3.40% with a 1.50% product fee at 65% LTV for single self-contained units. There is also a two year fix at 3.75% with a 1.50% product fee…

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