Posts Tagged ‘lenders’
The number of Buy-to-Let mortgage products goes above 2000 for the first time according to Moneyfacts
The number of Buy-to-Let (BTL) products has now passed the 2,000 mark for the first time on their records according to a recent report from Moneyfacts.co.uk, this comes depsite the BTL market having its fair share of turbulence. Moneyfacts reveal that there are 2,022 BTL mortgage products available at the moment, this figure is up…
Read MoreParagon highlights the changes in behaviour of both landlords and lenders as tax changes begin to bite
Paragon Q1 2018 PRS Trends survey report highlights a number of interesting changes in behaviour of both landlords and lenders as regulatory and fiscal changes begin to bite the buy-to-let sector. Research revealed that in the first qtr of 2018 portfolio landlords (6-20) properties increased in number from 35% to 39%, while those landlords with…
Read MoreRange of meaures to tackle unfair and unreasonable abuses of leasehold following DCLG consultation
Consultation outcome from Department for Communities and Local Government 21st December 2017. The full outcome of the consultation which closed 19th September 2017 ‘Tackling unfair practices in the leasehold market’ can be seen here. The consultation looks at a range of measures to tackle unfair and unreasonable abuses of leasehold; in particular the sale of…
Read MoreA decline in number of properties taken into possession last year
News release from The Council of Mortgage Lenders (CML) yesterday 9th February headlined ‘Mortgage possessions down again in fourth quarter of 2016’ According to new data from the CML the number of properties taken into possession last year declined by almost 25%, over the course of 2016, the number of mortgages in arrears also fell by 7%.…
Read MoreCML welcomes announcement on funding for affordable housing
The Council of Mortgage Lenders (CML) last week welcomed the announcement by the Communities Secretary Sajid Javid on funding for affordable housing, and the government’s commitment to widen the tenure choices for people who cannot afford to buy a home outright. Commenting on today’s announcement, CML director general Paul Smee said: “Today’s announcement can deliver the tenure flexibility that…
Read MoreLandmark ruling over negligent valuation report.
The Court of Appeal has recently overturned a decision of an earlier hearing in the Chancery Division, in which the Court ruled that the loss to Tiuta International Limited should be limited to the amount lost in ‘topping up’ the original loan (c£272,700). The Court found in favour of an appeal from Tiuta International, a…
Read MoreAnother lender raises age limit on mortgages
Following on from the recent announcement from Halifax Bank part of Lloyds Banking Group, which increased its upper age limit for mortgages from 75 years to 80 years, the Nationwide has now announced that is raising its age limit for people paying off mortgages by 10 years to 85. This is a further endorsement of…
Read MoreTurn 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…
Read MoreTougher mortgage rules for BTL landlords
It is getting tougher for Landlords who need a mortgage to fund their buy-to-let, tighter checks combined with higher interest rates could see less landlords applying to borrow from now on, this comes at a time when landlords are being hit with new regulations across the board, government announcements over the past week made it…
Read MoreBBA mortgage approvals (May)
The Mortgage Approvals published by the British Bankers Association measure the number of home loans issued by the BBA during the previous quarter. A Mortgage growth represents a healthy housing market. BBA Mortgage Approvals for (May) Previous 42.1K Actual 42.5K Richard Woolhouse, Chief Economist at the BBA, reportedly said:“Household borrowing remains robust and this…
Read MoreSqueeze on non standard mortgage availability.
More news is out today that mortgage availability continues at a reduced level, those affected in the latest tightening of rules are the non standard mortgage applications where people wish to borrow in excess of 90% add this change to the maximum loan to income (LTI) ratio on which has dropped significantly according to the…
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