The EU Directive on Buy to Let Mortgages was quite big news last week. A quick round up of the reaction to the news follows, but first a bit of background: What is the EU Directive on Buy to Let Mortgages The European Union has been considering a set of new rules governing the supply of consumer credit, and in particular mortgages. As part of the … [Read more...] about EU Directive on Buy to Let Mortgages
Buy to Let Mortgages
In 1952 around half the population were renting their homes. Compare that to 2011 when 20 percent are living as tenants and you get a sense of how much the housing stock has changed over 60 years and why housing costs matter to people who pay private rent. As we're talking percentages its worth giving that some context by stating that there are now 27 million homes in the UK … [Read more...] about Does it matter if private rents increase
The number of bu-to-let mortgages increased by around 84,000 in 2011. Apparently during the 4th quarter of 2011 a total of 34,800 buy-to-let mortgages were advanced (15,600 were remortgages). This compares with only 26,300 in the fourth quarter of 2010. David Whittaker from MortgagesforBusiness gives an explanation about what is happening. Share 80% LTV buy to … [Read more...] about Buy to let lending increasing
The Second Reading of the Energy Bill was delivered on 10 May, and it contains some interesting bits for landlords, and yes, even small landlords. The Energy Bill is intended to be a change in the provision of energy efficiency measures to homes, and to encourage improvements to enable low carbon energy supplies. In the second reading new proposals included amongst other … [Read more...] about Who would have thought that the Energy Bill would impact landlords
Paragon have announced that they are entering the buy-to-let lending market again. It seems that the new range of buy-to-let products will be targeted at professional landlord investors. Paragon will apparently commence lending with immediate effect through a panel of brokers and will widen distribution over time. Paragon says it will also accept direct business. If the … [Read more...] about Paragon to start Buy to Let lending again.
85% Buy to Let Mortgages are back! A new BTL mortgage has been released which is apparently taking the market by storm. This product is ideal for investors buying property below market value as the lender will consider loans of 70% of the open market value to 85% of the purchase price! For Example: Purchase price £20000 (Max 85% = £170000) Market value £250000 (Max … [Read more...] about BTL New Funding Facility 85% Purchase Price or 70% of Valuation
In their response to the Rugg Review of the Private Rented Sector the CLG clearly believe that landlordism is word that anyone involved in private lettings should be aware of! Aside from made up words (?) there is quite a lot of good stuff in the response and I will try to summarise the main points as follows: The headline is the idea of a Landlord Register - web based and … [Read more...] about Is Landlordism a real word?
Housing Benefit has often been criticised as an overly complex benefit that does not promote self responsibility and can even act as a deterrent to working. So with a view to improving the current system the government is introducing some major changes. The Local Housing Allowance is a new way of working out how much Housing Benefit private tenants will receive and has been … [Read more...] about Latest News About Housing Benefit For Landlords
A letting salesperson is more than just a "sales person." A good lettings agent will act on your behalf and offer suggestions and guidance making sure that you get the best rent for your property. From the point of view of the prospective tenant the lettings agent will help fine tune the search process and select the most suitable properties to view. They can also offer … [Read more...] about Lettings Review Sites