New lenders are eyeing buy-to-let as others are shaping up their deals to give landlords a wider choice of rates and products.
Yorkshire Building Society has indicated a move in to the market before July on the back of the merger with Chelsea Building Society, which had a large property investment lending book. Continue reading Buy to let mortgage deals hot up for landlords
Buy to let specialist Paragon has advanced £8.8 million of loans and has a further £75 million of property investment deals in the pipeline, according to the lender’s interim management statement. Continue reading Paragon lines up £85 million of landlord loans
Bank mortgage lending slumped to the lowest for more than a decade during December as the housing market stalled. Continue reading Bank mortgage lending plunges to 1999 levels
Buy to let mortgage brokers are among the most resilient optimists as more than half expect to help property investors purchase more homes to let this year. Continue reading High hopes for more buy to let mortgage lending
Lenders and commentators – including the influential Paul Fisher, the Bank of England’s director of markets – are warning that the natural interest rate in a well-functioning economy is around the 5% mark.
With the Bank of England base rate stuck firmly at 0.5% since March 2009, many are worried that buy to let landlords have not subjected their property businesses to a robust stress-test to see what happens when rates go up. Continue reading Why some mortgage lenders including Paragon Mortgages Stress Test at 9% or more
Buy to let specialist lender Paragon Mortgages has announced a 32% rise in profits as the firm looks to reassert its former position as a major funder of professional landlords by lending £1 billion.
After nearly three years away from the market, the lender has opened for new business after securing £200 million backing from the Macquarie Bank in Australia. Continue reading Paragon plans to lend £1 billion to buy to let professionals
Buy to let lender Platform Mortgages has signalled a lack of confidence in the market by more or less stopping borrowing for landlords.
Meanwhile, another buy to let specialist – CHL Mortgages – has announced trading improvements as more landlords slash mortgage arrears. Continue reading Platform derails mortgage lending for buy to let
So few lenders are actually handing over cash to borrowers that the Council of Mortgage Lenders has had trouble finding enough firms to fill the slots in a top 30 lender’s table. Continue reading How many lenders are really open for buy to let business?
Experienced landlords are still expanding their buy to let portfolios and accounted for nearly 10% of all mortgage broker business in the three months ending September 30.
Soaring numbers of enquiries from tenants and a lack of properties to rent are driving demand that is giving investors’ confidence to buy more homes. Continue reading Professional landlords snap up more homes to let. Buy to let accounted for nearly 10% of all mortgage broker business in the three months ending September 30
It was 1992, we were at the tail of the property crash of the late 80’s and early 90’s. I was still cutting my teeth in the market of providing commercial finance broking facilities to property investors. The phrase buy to let would not be invented for another four years and the internet was in its infancy. Property prices had fallen by 30% and interest rates had soared to 15%.
Continue reading The history of No Money Down and Instant Remortgages since 1992