Currently viewing the tag: "mortgages"
Buy-To-Let Opportunities For Pensioners

Buy-To-Let Opportunities For Pensioners

Buy-To-Let Mortgage Lenders Set To Offer Retiree’s Mortgages

Buy-to-let mortgage lenders are reconsidering their age restrictions following the Government’s announcement to give pensioners unlimited access to their retirement savings.

The move has prompted a specialist mortgage lender to offer pensioners under the age of 70 35-year mortgages, while retired people are being targeted with targeted  by buy-to-let adverts with senior appeal.

Managing Director of The Mortgage Works (TMW), Henry Jordan, said they have recognised that buy-to-let is a popular source of retirement income, stating “The recent budget announcements could see even more pensioners considering buy-to-let as an option for their retirement savings.”

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BoE Base Interest Rate Set To Remain Low Until 2015

BoE Base Interest Rate Set To Remain Low Until 2015

Base Interest Rates Set To Remain At
Low Levels Until The End Of 2015

A new economic forecast by Ernst & Young’s (EY) independent forecasting group, the Item Club, reckons that Bank of England (BoE) interest rates will remain at their historic low until the end of 2015 as wages start to outstrip inflation.

The Bank of England’s base rate has an impact on mortgage loans on property and savings returns and with the base rate remaining at 0.5%, it expects house prices to rise by 7.4% this year and 7.2% next year.

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Buy-To-Let Mortgage Lenders Reducing Rates As Demand Soars

Buy-To-Let Mortgage Lenders Reducing Rates As Demand Soars

Buy-To-Let Mortgages Improving To Meet Increased Demand

UK mortgage lenders are offering more Buy-To-Let mortgages, with better rates on smaller deposits, in response to soaring demand from property investors and portfolio landlords over the past year.

Buy-To-Let mortgage lending increased by 18.6% in 2013 compared to 2012, according to the latest figures from the Council of Mortgage Lenders (CML).

The last quarter of 2013 also saw Buy-To-Let mortgage lending finish strongly, despite a predictable seasonal dip in December, with lending up 20% against the same period of 2012.

Demand for Buy-To-Let mortgage loans is picking up as landlords in the UK seek to expand their rental property portfolios, with over 30% aiming to buy more properties in the next 12 months and more than 80% of UK private rental sector (PRS) landlords are making a full-time living from their lettings activity according to the latest BM Solutions/BDRC Continental Landlord Panel.

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Surge In New Buy-To-Let Mortgage Products Confirms Rental Property Revolution

Surge In New Buy-To-Let Mortgage Products Confirms Rental Property Revolution

Surge In New Buy-To-Let Mortgage Products Confirms
Rental Property Revolution

A number of market leading lenders have introduced improved Buy-To-Let mortgage products to meet the growing demand for portfolio expansion by UK landlords.

The surge in the number of new mortgage products coming to market confirms that the UK buy-to-let industry is growing across the whole of the UK and there are even more BTL products still awaiting launch dates from lenders.

Paragon Mortgages has introduced a new Buy-To-Let mortgage product for single unit properties, Houses of Multiple Occupation (HMO’s) and multi-unit blocks; the rate is fixed at an initial 5.49% for a maximum Loan-To-Value (LTV) of 75% with a 2% product fee.

The Post Office, (and its financial services partner the Bank of Ireland) have also entered the Buy-To-Let mortgage market, launching a range of buy-to-let mortgages at 60% and 75% LTV – some of their BTL mortgage products don’t even have an arrangement fee and include free valuation.  

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Mortgage Lending Up £1.7 Billion (GBP)

Mortgage Lending Up £1.7 Billion (GBP)

UK Mortgage Lending Up £1.7 Billion (GBP)

The latest mortgage lending figures released by the Bank of England show that lending secured on residential property increased by £1.7 Billion (GBP) in December 2013, compared to the average monthly increase of £1.1Billion (GBP) observed during the previous six months of the year.

The increase is generally being credited to the success of the Government’s Help-To-Buy scheme, with London leading the way on residential property price rises, but what is the real situation affecting the UK?

Director of e.surv chartered surveyors, Richard Sexton, explained: “Mortgage lending in the UK is improving at lightning-speed. Lending has hit a six year high, as banks continue to offer cheap loans and interest rates, and repayments remain low. Mortgage lenders have dramatically increased lending to borrowers with smaller deposits, which has encouraged more first-time buyers to the market. And the government’s Help-To-Buy scheme has given consumers a huge confidence boost, which has increased lending volumes further. But the heart of the market remains in London and the South East. In other areas of the country the recovery is far slower. House prices may be increasing quickly, particularly in the capital, but it’s important not to withdraw Help-To-Buy too soon. In London, buyers need the scheme to get on the ladder. In many other areas, wage growth has been comatose since the economic crash, would-be property buyers simply don’t have enough income to save for a deposit. Building more houses would be a far more prudent approach to capping price rises than trimming down the Help-To-Buy scheme prematurely.”

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UK Property Prices Up £7,000 In Four WeeksUK Property Prices Hit 2008 Peak Values

UK property prices have jumped up £7,000 (GBP) in a month as UK property market activity picks up.

The huge increase in property values over the last four weeks is confirmation that the UK is enjoying another property boom.

The £1,750 weekly uplift puts the price of a typical residential three-bedroom semi detached property at £252,418 (GBP), according to popular property portal, Rightmove.

The biggest increase in property prices was recorded in London where new vendors have added an extra £50,484 (GBP) to average residential property asking prices this month, however property prices in the nation’s capital are over inflated compared to the rest of the UK.

The rise in UK property prices is being driven by first-time buyers and second step buyers following the introduction of the Government’s Help-To-Buy mortgage scheme.

Fears of a housing bubble have also been eased as the number of new property vendors entering the property market has also increased by 8%, however property shortages have driven up property prices in some UK regions.

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Mortgage Loan Approvals Increase

Mortgage Loan Approvals Increase

More “Help To Buy” Mortgage Lenders Announced

The number of mortgages given to first-time buyers increased by a third in the 12 months to August 2013 according to the latest data from the Council of Mortgage Lenders (CML), with new entrants to the property market accounting for 44% of all residential property purchases during the month.

The CML figures were published as Barclays became the latest high street lender to confirm it was signing up to the second part of the government’s Help to Buy scheme, which is designed to make more 95% mortgages available to first-time buyers, second steppers and home movers.

Barclays join Santander, RBS, Halifax and HSBC in confirming it will use the taxpayer-backed guarantee to make high Loan-To-Value (LTV) mortgages available for property purchasers, meaning that more than half of UK mainstream mortgage lenders are now signed up to provide more mortgages at higher loan to value ratios.

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Property Portfolio Building With Experts

Property Portfolio Building With Experts

Are you a new or seasoned property investor looking to expand your property portfolio?

Property investment across the world has changed over the last five years, gone are the days of same day purchase and re-mortgage, property investors can’t find No Money Down (NMD) deals and mortgage availability has been better.

Since 2007 /8 when the effects of the economic crisis were first being felt, property investors across the UK became fearful over the subject of finance!

Many property investors have been forced to face the dramatic changes in available property finance since the property crash, when decisions used to be based on providing ultra minimal information and excessive lending to the masses was the norm. In fact, confidence in property was so high that lots of mortgage lenders failed to carry out proper checks into affordability and individual earnings.

The arrival of the financial crisis in 2008 saw banks and Governments realise the extent of the problems caused by irresponsible lending and the result was a global economic meltdown and the introduction of strict lending criteria to such an extent that even the most experienced investors were unable to obtain finance .

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Buy-To-Let Mortgage Lending Increases By 31%

Buy-To-Let Mortgage Lending Increases By 31%

UK Buy-To-Let Mortgage Lending Hits £5 Billion (GBP)

The resurgence of property investment in the UK means that landlords are extending their rental property portfolios and cashing in on the strong demand for rental property from “generation rent”.

The buy-to-let boom has seen mortgage lending reach another milestone as latest figures released by the Council of Mortgage Lenders (CML) show that mortgage borrowing has hit a five-year high, and the Bank of England’s (BoE) historically low interest rates are predicted to fuel even more growth in the sector.

Buy-to-let mortgage lending has continued to excel expectations as the latest CML data shows £5.1 Billion (GBP) was advanced to landlords in the second quarter of 2013, that’s 21% up on the first quarter of the year and up 31% on 2012 figures.

The new governor of the Bank of England, Mark Carney, has indicated that interest rates are expected to remain low until at least 2016, encouraging further growth in the UK private rental sector (PRS).

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UK Property Prices Increase Again

UK Property Prices Increase Again

UK Residential Property Prices
Return To Good Health

UK residential property prices increased again in June 2013, marking the return to good health of the property market.

Property price rises are at their fastest rate in over two-and-a-half years as mortgages became more available and less expensive, adding to fears of another property market bubble as overall housing supply remains low.

The latest monthly residential property price index from UK mortgage lender, Nationwide, shows that UK property prices were up 0.3% in June 2013, while the annual increase of 1.9% was the sharpest residential property price increase since September 2010, but those gains were below the 0.4% monthly rise and 2.1% year-on-year price increases forecast by many economists.

In May 2013, residential property prices rose an unrevised 0.4% on the month and 1.1% on the year overall, signalling the recovery of the UK property market.

The number of mortgages approved by UK banks also increased by a quarter in the twelve months to May 2013. However, over the same period, the value of outstanding mortgage loans secured on property dropped by 0.2%.

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