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May 17, 2009

Student landlord reports strong lettings performance

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by Gill Montia

Student landlord reports strong lettings performance
Student landlord, The UNITE Group has reported a strong lettings performance for the 2009/2010 academic year with rental growth of between 7% and 10% expected, on a like-for-like basis. The company's development programme is on track to deliver 2,772 beds this year, ...

May 15, 2009

Buy-to-let mortgages: lending down, repossessions up

Permalink: Buy-to-let mortgages: lending down, repossessions up
by Gill Montia

Buy-to-let mortgages: lending down, repossessions up
The Council of Mortgage Lenders (CML) has reported that new buy-to-let lending fell for the sixth consecutive quarter in the first three months of 2009. Loans to landlords accounted for 6% of all gross mortgage lending during the period, down from 12% ...


Home repossessions up 50% in a year

Permalink: Home repossessions up 50% in a year
by Kay Mitchell

Home repossessions up 50% in a year
The Council of Mortgage Lenders (CML) have today revealed that the number of homes repossessed in the UK increased to 12,800 in the first quarter of 2009. This represents a rise of 23% from the previous quarter and 50% up compared ...

May 14, 2009

A&L launch new mortgage which requires 15% deposit

Permalink: A&L launch new mortgage which requires 15% deposit
by Kay Mitchell

A&L launch new mortgage which requires 15% deposit
Alliance & Leicester (A&L) has launched a new mortgage aimed at first-time buyers which requires a deposit of just 15%. The mortgage, which is fee free and a 3-year fix, comes with a maximum loan-to-value (LTV) ratio of 85%, an ...


CML highlights plight of “unofficial” tenants

Permalink: CML highlights plight of “unofficial” tenants
by Gill Montia

CML highlights plight of
The Council of Mortgage Lenders (CML) has welcomed Government proposals to improve the private rental sector in England by creating of a register of landlords and the properties they let. The measures under discussion also include extending the period of notice for ...


Mortgage approvals soar 29% in March

Permalink: Mortgage approvals soar 29% in March
by Kay Mitchell

Mortgage approvals soar 29% in March
Despite first-time buyers having to secure a hefty deposit in order to obtain a mortgage, approvals for homebuyers were up 29% in March, compared with the previous month, according to the Council of Mortgage Lenders (CML). The figures may be further sign ...

May 13, 2009

Proposed landlord register to include let property addresses

Permalink: Proposed landlord register to include let property addresses
by Gill Montia

Proposed landlord register to include let property addresses
Further details of the Government's proposed register for private residential landlords in England have been published today. The measures under consideration also include setting up an independent regulator for all letting and managing agents and requiring tenants to receive a ...


Perils ahead for smaller private landlords

Permalink: Perils ahead for smaller private landlords
by Gill Montia

Perils ahead for smaller private landlords
New research from Nottingham University paints a gloomy picture for small landlords. The study, by Professor Andrew Leyshon and Dr Shaun French, suggests that while the buy-to-let market will survive the recession many smaller private landlords will disappear from the market. According ...

May 12, 2009

New buyer enquiries continue to rise say Rics

Permalink: New buyer enquiries continue to rise say Rics
by Kay Mitchell

New buyer enquiries continue to rise say Rics
The Royal Institution of Chartered Surveyors (Rics) said today that new buyer enquiries continued to rise in April - the sixth consecutive monthly rise and the fastest pace since August 1999. Meanwhile, house prices in England and Wales fell ...

May 11, 2009

Village life threatened due to lack of affordable housing

Permalink: Village life threatened due to lack of affordable housing
by Kay Mitchell

Village life threatened due to lack of affordable housing
Research carried out by the National Housing Federation (NHF) has revealed that a lack of affordable housing in the countryside could result in a mass exodus. The NHF suggests that over the next three years, over 100,000 ...


Return of closing dates in Scotland is encouraging

Permalink: Return of closing dates in Scotland is encouraging
by Kay Mitchell

Return of closing dates in Scotland is encouraging
One of Edinburgh’s property solicitors, Warners, has noticed a rise in the number of closing dates being set on properties over recent weeks. According to Scott Brown, Estate Agency Partner with Warners, “the return of closing dates is a welcome ...


Buy-to-let mortgage availability on the rise

Permalink: Buy-to-let mortgage availability on the rise
by Gill Montia

Buy-to-let mortgage availability on the rise
New research from Mortgages for Business claims that product availability for buy-to-let loans has increased 58% since December. The mortgage broker concedes that the sharp rise is from a very low base but suggests that landlords who want to take advantage of ...


MyChoice Homebuy scheme running low on cash

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by Kay Mitchell

MyChoice Homebuy scheme running low on cash
A Government scheme designed to help first-time buyers get onto the property ladder is running short of money. The Government said that the MyChoice Homebuy scheme, targeted at key workers and public-sector tenants who cannot afford their own home, experienced huge ...

May 8, 2009

Thumbs down for landlord registration scheme

Permalink: Thumbs down for landlord registration scheme
by Gill Montia

Thumbs down for landlord registration scheme
This week reports appeared in the press about Government plans to introduce a licensing scheme for landlords in England and Wales. According to The Times, landlords will have to pay around £50 for a licence and a national register will be formed ...

May 7, 2009

Smaller deposits starting to emerge

Permalink: Smaller deposits starting to emerge
by Kay Mitchell

Smaller deposits starting to emerge
Figures from financial information service Moneyfacts have revealed some good news for potential buyers after a rise has been noted in the number of deals demanding smaller deposits. While approximately 65% of mortgage deals still require a deposit of at least 25%, ...


Rents fall in Edinburgh as “reluctant” landlords increase stock

Permalink: Rents fall in Edinburgh as “reluctant” landlords increase stock
by Gill Montia

Rents fall in Edinburgh as
Edinburgh-based Braemore Property Management has reported that rents across the city have fallen for the first time in years. New research from the firm shows how an over-supply of stock, caused mainly by an increase in “reluctant” landlords, has ...

May 6, 2009

Halifax: House prices fall 1.7% in April

Permalink: Halifax: House prices fall 1.7% in April
by Kay Mitchell

Halifax: House prices fall 1.7% in April
In the latest survey of house prices, the Halifax has reported that house prices fell by a further 1.7% in April. The report comes just a week after the Nationwide said house prices fell by 0.4% in April. According to the Halifax, ...


Owners of overseas holiday lets reminded of one-off tax break

Permalink: Owners of overseas holiday lets reminded of one-off tax break
by Gill Montia

Owners of overseas holiday lets reminded of one-off tax break
Overseas mortgage adviser, Conti, is reminding Britons who rent out second homes in Europe that they could now be eligible for a tax rebate from HM Revenue & Customs. In last month's budget, Chancellor of the Exchequer Alistair ...

May 5, 2009

Halifax reveals improvement in affordability for first-time buyers

Permalink: Halifax reveals improvement in affordability for first-time buyers
by Kay Mitchell

Halifax reveals improvement in affordability for first-time buyers
The latest Halifax FTB Affordability Review has revealed that housing affordability for potential first-time buyers (FTBs) is at its lowest level in over six years. Since the market peaked in 2007, affordability has more than trebled with houses deemed “affordable” ...


Buy-to-let mortgage market changed out of all recognition

Permalink: Buy-to-let mortgage market changed out of all recognition
by Gill Montia

Buy-to-let mortgage market changed out of all recognition
Price comparison website, Moneynet.co.uk, has been highlighting the changes brought about by the credit crisis in the buy-to-let mortgage market. According to the firm's spokesman, Andrew Hagger, anyone considering entering the buy-to-let market this year is faced with an ...