Tag Archives: cml

Landlords urged to watch for shady solar panel dealings Buy to Let News, Latest Articles, Lettings & Management, Property Development, Property Maintenance

Landlords maximising income from buy to let properties by leasing their roof space to firms generating energy from solar panels are warned that they need to comply with mortgage lender guidelines.

Many landlords are installing solar panels that offer tenants cut-price power while siphoning off excess energy for an income under the feed-in tariff. Continue reading Landlords urged to watch for shady solar panel dealings


Buy to Let Lending Under the Microscope for 2011 Buy to Let News, Latest Articles, Mortgage News

Buy to let landlords added 84,000 rental properties to their portfolios in 2011, according to the latest figures from mortgage firms.

To put the market into perspective, at the peak of buy to let lending, 93,000 loans worth £12.7 billion were advanced in just three months between June and September 2007.

That compared to 69,100 loans in the last six months of 2011 worth £8 billion. Continue reading Buy to Let Lending Under the Microscope for 2011


Cameron veto may mean buy to let regulation by EU Buy to Let News, Cautionary Tales, Latest Articles, Mortgage News, Property118 News

Mortgage lenders are quietly furious behind the scenes that Prime Minister David Cameron’s Euro treaty veto may have scuppered their fight to block the regulation of buy to let loans.

As the dust settles on the UK’s lonely position standing in the kitchen looking on at the Eurozone party, buy to let could be one of the victims. Continue reading Cameron veto may mean buy to let regulation by EU


Buy to Let Lenders Boast Booming Borrowing Figures Commercial Finance, Latest Articles, Mortgage News, Property Market News

Buy to let lender Paragon Mortgages profits rose 12% to almost £81 million thanks to landlords building on their portfolios.

Paragon returned to lending in September 2010, and the pre-tax profit represents the first full year’s trading as a lender since the onset of the credit crunch. Continue reading Buy to Let Lenders Boast Booming Borrowing Figures


Buy to Let Lenders Forget to Mention the Missing Link Buy to Let News, Latest Articles, Mortgage News, Property Market News, UK Property Forum for Buy to Let Landlords

Buy to let mortgage lending is going from strength to strength, according to industry trade body the Council of Mortgage Lenders.

In a lengthy review of the market, the CML discusses various reasons why buy to let is thriving while the rest of the mortgage market is in the doldrums – but fails to mention a key fact. Continue reading Buy to Let Lenders Forget to Mention the Missing Link


Buy to Let Lending is Up – But It’s Not Booming Buy to Let News, Latest Articles, Property Investment News

The latest buy to let lending figures highlight a rise in landlord borrowing – but the statistics are shrouding an underlying trend.

Interpreting the figures comes down to some careful reading of how the Council of Mortgage Lenders (CML) reports the findings. Continue reading Buy to Let Lending is Up – But It’s Not Booming


Mortgage Lenders Paying Deposits on a Private Let????? Have you Gone Mad? Guest Articles, Guest Columns

Most readers of my articles know about my work on landlord/tenant law issues. What many of you don’t know is that 50% of my work these days is negotiating with banks to stop repossessions where people are in mortgage arrears, which is a whole different ballgame. You thought landlord-Tenant law was complicated?????

In 1904 an appeal court judge hearing the case of Samuel v. Jarrah Timber and Wood Paving Corporation said “Nobody, I am sure, by the light of nature, ever understood an English mortgage of real estate”…..certainly not me who has to fight the borrower’s corner, nor the army of staff working for banks who argue from the other side. We all hack about hoping we aren’t being too wide of the mark and run cases by county court judges who often look similarly perplexed. Continue reading Mortgage Lenders Paying Deposits on a Private Let????? Have you Gone Mad?


Buy to Let Mortgage Regulation is Logical, says the FSA Buy to Let News, Latest Articles, Property Investment News, Property Market News

The UK will comply with proposals to regulate buy to let mortgages if the European Union decides to include the loans in the forthcoming consumer credit directive.

Despite warnings that regulation will change the face of the market from bank and building society trade body the Council of Mortgage Lenders, the Financial Services Authority sees the ‘logic’ in the directive.

The CML has argued for some months that buy to let loans should remain outside the directive because the borrowing is a commercial rather than consumer transaction. Continue reading Buy to Let Mortgage Regulation is Logical, says the FSA


Mortgage Lending Recovers But Still Less Than a Year ago Latest Articles, Mortgage News

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"Mortgage lending is up, but not up to last year"

Mortgage lenders released the purse strings on home loans slightly in August, but this year looks unlikely to equal last year’s lending.

Remortgaging was up significantly, with 34,100 loans worth £4.2 billion, making both the number of loans and amount borrowed were more than 30% higher than August 2010.

The number and total value of home buyer loans also hit a high for 2011, with 52,000 mortgages worth £7.9 billion.

Nevertheless, lending for the year so far stands at just 329,000 loans to buy homes worth £48 billion when the totals for 2010 were 513,000 loans worth £75 billion. Lenders will have to advance substantially more funds for the rest of the year to reach last year’s levels.

The lack of home sales is reflected in a rising number of remortgages throughout the year.

Although the Council of Mortgage Lenders (CML) reports a massive increase in August, their statistics show that last year’s 865,000 remortgages worth £118 billion is unlikely to be matched, with this year’s totals currently standing at 230,000 remortgages worth £28 billion.

Paul Smee, director general of the CML, said: “Even though it is impossible to ignore the knocks to confidence emanating from the Euro zone, August lending showed welcome signs of life. With those moving house experiencing a record low in the proportion of their income needed to pay their mortgage interest, it is clear that the low rate environment is a benefit to those with mortgages, even against the backdrop of the gloom in the wider economy.

“Lending to both first-time buyers and home movers was at its highest for over a year.”

The outlook for first time buyers even bleaker as just 19,000 mortgages worth £2.4 billion were agreed in August – up 5% on July and 5% on 12 months earlier.

Most home buyers opted for repayment mortgages.


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