Switch on the TV or radio news, open the paper and log in to the internet and just about everyone is lamenting the price of a home.
First time buyers can’t afford to step on to the property ladder, families can’t afford to move and banks aren’t lending. Continue reading Who really cares if house prices fall? Are falling prices an opportunity or a threat and what actions should you be taking right now?
Peter Curran, Head of Intermediary Distribution at Lloyds Banking Group recently announced, “From 25 September, buy to let property portfolios will be limited to a maximum of three properties, or £2m worth of lending (whichever is exceeded first), across Lloyds Banking Group. At the same time, buy to let products will no longer be available via intermediary channels through either the Cheltenham and Gloucester or LTSB Scotland brands. Pipeline applications will be honoured but any subsequent changes will be assessed under our new policy. The changes will be effective from close of business on 24 September.” Continue reading Birmingham Midshires to restrict lending to three buy to let mortgages per landlord. Lloyds squeeze this market further by refusing to lend on more than three buy to lets across all of their brands.
In comparison, the rest of England and Wales was stuck in a rut with more static month-on-month figures.
The buoyant London market is put down to less worry about long term job prospects and cash-rich buyers not affected by difficulties in obtaining mortgages. Continue reading Cash buyers fuel London home sales boom. According to Acadametrics London home sales exploded by 22% during August on the back of cash buyers not needing mortgages and a strong regional economy
The housing market seems to have shaken out the inflation excesses of the boom period of a few years ago.
Estate agents, builders and lenders are all reporting a stable level of activity, even though this may be constrained for property investors looking for profits from capital growth. Continue reading Property investors to see 9.6% returns by end of 2010. Information acquired from various sources including Halifax, Nationwide, IMD and NAEA
Buy to let mortgage borrowers can breathe a sigh of relief for another month as the Bank of England’s Monetary Policy Committee has voted to keep the official bank rate steady at 0.5%.
The decision means the bank rate has remained at the record low of 0.5% for 18 consecutive months since March 2009. Continue reading Bank of England pegs interest rate at record low yet again. That’s 18 months in a row but what does this mean for landlords?
Property investors have seen homes double in value over the past 10 years despite the ups and downs of recession.
Semi-detached homes were the biggest winners returning an average 111% increase – just over the 110% for terraced houses and 109% for bungalows. Continue reading Investors see homes double in value in the last 10 years according to a survey from the Halifax.
Increasing tenant demand and a fall in the number of properties available to let are driving rents higher, says the latest letting market review from the Royal Institute of Surveyors (RICS).
Tenant demand is strongest in London and the East but increased across all regions. Continue reading Buy to let bonanza as rents set to soar.