Posts Tagged ‘mortgage’
Bank of England figures for July
Bank of England figures published yesterday showed that UK mortgage approvals rose in July to their highest level since February 2014, numbers were up by 16.4% to 68,764, this is in contrast to the number of mortgage approvals falling throughout 2014. Mortgage approvals have risen in five of the past seven months, this trend is…
Read MoreBetter returns with HMO buy-to-let
When it comes to calculating the return on a BTL investment, the HMO buy-to-let far outweighs that of the standard buy-to-let, analysis from Platinum Property Partners suggests that even if the interest rate were to increase by 3% a HMO investment would still be profitable. Steve Bolton, Chairman of Platinum Property Partners, reportedly said: “Not…
Read MoreRise in remortgage applications
Remortgage applications are on the increase that is according to the most recent figures from the Mortgage Advice Bureau (MAB), many homeowners who bought properties more than five years ago are now taking advantage of the increase in the value of their home by releasing cash by way of remortgaging, in many cases to bridge…
Read MoreSlowdown in house price growth
House price growth in Britain slowed in August, according to the mortgage lender Nationwide, this is confirmed in the results from their monthly survey released today. The price of a home increased at a 0.3% month-on-month pace in August, this was below what economists were expecting at a 0.4%. The year-on-year pace of inflation was…
Read MoreStricter lending criteria for BTL mortgages
High street lenders are getting tougher with landlords applying for mortgages to purchase a buy-to-let property, it has been announced in various publications that lenders are looking to introduce stricter criteria when it comes to checking applications, higher interest rates could also be applied to these mortgages. It has been mentioned that Landlords will face…
Read MoreCheaper to buy rather than rent
When it comes to deciding whether to rent or buy, figures favour buying as the best option, research shows that almost £700 a year in savings can be made by the FTB, this figure however has narrowed as house prices have increased, a savings drop of 34% recorded over the last year. The biggest hurdle…
Read MoreRise in the average house price in UK
UK average house prices rose by 5.7% in the year to June to hit £277,000, up from a rise of 5.6% in the year to May, that according to the Office of National statistics. These figures were reflected by rises in England , Wales and Northern Ireland, Scotland however saw a drop for the first…
Read MorePersimmon reports increase in pre-tax profits
Housebuilder Persimmon reports pre-tax profit has surged by almost a third on the back of solid revenue growth, continued improvement in operating profitability and a strengthening of the company’s financial position. Pre-tax profit for the six months ended 30 June were £272.8m from £208.9m in the first half of last year, on revenue of £1.33bn,…
Read MoreRecord house sales for Bovis
Bovis homes the Kent based house builder reported that it had completed 1,525 homes in the six months to the end of June, a 3% rise on a year ago, which saw pre-tax profits lift 9% to £53.8 million, selling prices jumped 10% in the same period to £264,200. Bovis stated that the market experienced…
Read MoreFigures for mortgage repo’s and arrears
Data released by the Council of Mortgage Lenders shows that repossessions are at their lowest rate since records began, there has been a continued fall in repossessions in the second quarter of 2015, mortgage arrears also continue to fall. Figures showed that 2,500 properties were taken into possession in the second quarter of 2015, that…
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 MoreMoody’s remarks on interest rates
Moody’s who provide credit ratings and research covering debt instruments and securities said that the majority of British homeowners would be little affected by a moderate rise in interest rates, a rise of 1% would only affect about 1% of borrowers in that they would find it difficult to meet their mortgage repayments and living…
Read MoreHalifax report house price surge in June
According to the Halifax UK house prices picked up in the last quarter after two successive falls, with an unexpected month-on-month surge in June pushing the annual rate to 9.6%, the Halifax house price index showed prices jumped by 1.7% between May and June, the fourth consecutive monthly rise, this is contrary to other ecent…
Read MoreMortgages extending into retirement
Data from the Council of Mortgage lenders reveals that a third of new mortgages being taken out today will extend beyond their 65th birthday, this situation is being created because some buyers are entering the property market at an older age and the duration of some mortgages is longer term. The new figures were revealed…
Read MoreFall in conveyancing transactions
A Conveyancing Market Tracker survey by Search Acumen which is based on data from the Land Registry, found that a continuing decline in conveyancing firm numbers was based on a “long-term trend of firms disappearing at the lower end of the market”. It revealed that of the 153 firms which ceased to be active, 129…
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