If you are renting out you home without permission READ THIS!

Bank and building societies are taking a keener interest in whether borrowers are renting out properties without their permission, Telegraph Money has learned. This involves further quizzing of borrowers at the mortgage application stage as well as on-going scrutiny to check, for instance, whether borrowers continue to live in the mortgaged property. Several lenders are reported to be going even further and adopting data-sifting techniques like those used by HMRC to spot tax-evasion. This involves trawling the read more

UK rents fall for the first time in over 8 years

UK rents fell by -0.3% in the year to May – the first time there has been an annual reduction in eight years, HomeLet’s May Rental Index has found. Rents in London have fallen by -3% in that time, followed by the North East (-2.3%) and Scotland (-1.9%). Rents have risen by the most in the East Midlands (3.3%), North West (2.2%) and the South West (2.1%). London rents fall for first time in eight years Martin Totty, chief executive officer of HomeLet, said: “May 2017 saw average rents nationally fall for the read more

House prices predicted to increase

The 6.1 per cent growth has been forecast by Barclays Bank, who also say buy to let investors and high net worth millennial investors will lead the boost. Barclays also predict property hotspots will emerge in the north of England thanks to employment opportunities and business start-up rates which will help close the gap on the current property hubs of London and the south-east. The report predicts the UK property market will remain buoyant with prices set to rise by an average of 6.1 per cent by 2021, despite an read more

Stamp Duty increases causes house slump for April

There were further signs of a slowdown in the property market in April, as the number of sales fell significantly, while fewer people took out mortgages. The number of residential property transactions in the UK dropped by 22.5% between March and April, according to HM Revenue and Customs (HMRC). Analysis by the data firm Equifax also suggests that mortgage sales declined by 16% over the same period. But the figures are skewed by a series of tax changes this year and last. In April 2016, landlords became read more

Over 65’s to have the highest mortgage debit than ever before

The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030, from £20.1 billion to £39.9 billion, according to a new study by ILC-UK and the Building Societies Association. The report shows that current economic trends such as house price inflation, tighter credit conditions and low real wage growth will cause a significant shift in the customer base of the mortgage market over the next 13 years. Since the financial crisis, home ownership amongst 20-29 year olds has fallen from read more

More news about a rate increase.

The chance to lock into an ultra-cheap mortgage is set to disappear, borrowers are being warned, as several factors now point to a period of rising rates. Those who have not yet switched to a fixed-rate deal should act quickly. Mortgage rates have been falling for years, driven partly by a historically low Bank Rate but also by lenders’ increased competition for a smaller overall pool of borrowers. And while in the period immediately after the financial crisis it was difficult for many borrowers to obtain read more

Family own businesses LOOSE OUT AGAIN because of tory taxes changes

More than a million family-owned businesses and freelance workers will lose out because of the tax crackdown on dividend payments. They face paying up to £1,143 a year more in tax because of the way they choose to take an income. Many families who run newsagents, restaurants, shops, accountancy firms and other businesses take their earnings as company directors through dividend payments, rather than a monthly salary. That means they pay lower tax rates than salaried employees and can earn £5,000 a year tax-free on read more

Tory government to raise taxes on the hardest working people in the UK

Theresa May faces a major Budget backlash after ripping-up an election manifesto pledge to freeze National Insurance and instead hitting 2.5million self-employed people with an unexpected tax hike. The rise unveiled by Chancellor Philip Hammond was branded a “rip off” for the country’s hardest workers, with critics – including Tories – warning it would hit low paid earners the hardest. Many raised concerns that the likes of cabbies or fast-food delivery drivers toiling in the "gig economy" for low rates, and with read more

Innovation in the mortgage servicing market

Significant change has occurred in the mortgage servicing industry. While some servicers have doubled in size, others have been acquired by larger organisations giving them strong parent backing, and many servicers have also consolidated through mergers. Not to mention, new servicers have come to market bringing healthy competition and further choices for lenders. A busy time for both servicers and lenders alike, all organisations are aiming to achieve results for their businesses and customers. Sutherland is a global read more

The sub 1% fixed rate is back

Santander has brought back the sub-1pc mortgage with a fixed-rate deal at 0.99pc. The bank is offering the loan to buyers with 40pc deposits, and will fix the rate for 18 months. Previously HSBC offered a mortgage with the same rate but withdrew it in December, along with many of its other best-buy deals. Santander's offer becomes the lowest fixed rate available. The rate is beaten only by Yorkshire Building Society's 0.98pc tracker mortgage, which is not fixed but will vary in line with Bank Rate. Like many read more