Regulatory changes to the BTL market may decrease the number of ‘pension pot’ landlords.

"In a survey at this week's Financial Reporter Later Life Lending Roadshow, 49% of respondents said that less people will plan to fund their retirement with a buy-to-let property due to recent regulatory changes in the market such as stamp duty increases and cuts to mortgage interest tax relief." https://www.financialreporter.co.uk/later-life/advisers-predict-fall-in-pension-pot-landlords.html read more

Impact launches specialist referral service.

"The service will cover regulated and non-regulated referrals across bridging, commercial, later life lending, specialist residential, buy-to-let and other areas of the specialist lending market." https://www.financialreporter.co.uk/specialist-lending/impact-launches-specialist-referral-service.html read more

Landlords PLEASE RAED

I have completed reading an article stating that Buy-to-let lenders are not ready for new energy efficiency laws that may put the brakes on new business. The regulations – which come into force on April 1 – make it illegal for landlords to start new tenancies without the property having an Energy Performance Certificate rating of ‘E’, or higher. Read here https://www.mortgagestrategy.co.uk/new-energy-laws-trip-buy-let-lenders/ Landlords who own older properties may have problems when ew tenancy need to be read more

The face of Buy to Let Mortgages is changing

If you are a landlord you, most likely, have had to get a buy to let mortgage. Over the years these mortgage have been fairly easy to arrange through an experience mortgage broker. They usually required very little in documentation and the lender were mostly interested in the rental value. All this is about to change. Over the coming weeks the banks and building societies will require not only income verification but also verification from inland revenue, copy of leases, letters from letting agents and bank 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

A welcome reprieve for BTL re-mortgage customers

Santander has amended its buy-to-let (BTL) mortgage prisoner rules to take advantage of the Prudential Regulation Authority’s (PRA) flexibilities. From 19 April, the bank will assess eligible buy to Let (BTL) remortgage applications, where no increase in borrowing is taking place. A minimum of 125% rental cover at a 5% affordability rate will be used. It said this aimed to prevent borrowers who already had a BTL mortgage before the new guidelines were implemented on 1 January from being adversely affected when read more

First time buyers increase hit all time high BUT landlord purchase hits a all time low

First-time buyer activity rose to from 28% to 36% of market activity in February, as buy-to-let purchases fell below 10% for the first time in five years, per data from Connells Survey & Valuation. First-time buyers now account for a third of activity in the property market – the highest proportion since July 2011. In contrast to the resurgent market for first-time buyers, the buy-to-let purchase market fell to a new low in February. Continuing the decline seen in recent months, buy-to-let purchases almost halved in read more

3% house price increase for 2017

House prices in the UK will see an average increase of 3% in 2017 as the number of transactions stabilises, per the latest RICS housing forecast. This is slightly above Nationwide's prediction of 2% growth for next year, however the Bank admitted that "house price prospects will depend crucially on developments in the wider economy". The Institute says East Anglia is likely to continue its trend during 2016 and alongside the North West and West Midlands is likely to record gains higher than the national average. read more