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Thursday, May 23, 2019

Private rental prices up 1.2%

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Call to ban short-term let Tube adverts

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Scepticism over tenancy fees ban

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Barclays cuts BTL rates

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Hull - 'the happiest place to rent'

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Best and worst areas to sell property

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Letting agent sued £100k after accident

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Should you spend your pension on BTL?

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Wednesday, May 22, 2019

North - South house price divide

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The rise of Scottish Build to Rent

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Rents surge in the West Midlands

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‘Ethical’ buy-to-let investment

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Testing online right-to-rent service

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Paragon grows lending

PROFESSIONAL LANDLORD FOCUS DRIVES MORTGAGE LENDING GROWTH AT PARAGON
  • First half mortgage lending up 16% to £834 million (31 March 2018: £721 million)
  • New lending dominated by complex and professional landlord business
  • Underlying profit in the mortgage segment up 17% to £85 million

Paragon, the specialist banking group, has reported a 16% increase in first half mortgage lending to £834 million, up from £721 million in the same period last year.

Buy-to-let business dominated new mortgage lending, up by 17% to £788 million, benefitting from Paragon’s focus on professional landlords with larger portfolios who are becoming increasingly important to the supply of private rented property in the UK.

The proportion of ‘complex’ buy-to-let completions – comprising customers operating through corporate structures or running large portfolios - increased from 72% to 88% of the total during the first half and represented 92% of the pipeline of future business at the end of March.

Underlying profits in the mortgage segment grew by 17% to £85 million and the net interest margin – which measures the difference between Paragon’s funding costs and what it earns from lending - improved from 1.55% in the first half last year to 1.69%.

By the end of the period, Paragon’s mortgage loan book had increased by 7% to £10.8 billion.

Alongside mortgage lending, Paragon delivered an 89% year-on-year increase in its Commercial Lending portfolio to £1.3 billion demonstrating good progress in its strategic transformation to a more broadly-based banking group focussed on supporting British SMEs and consumers in specialist lending markets.

The increase in lending was funded principally through an increase in the Group’s savings deposits which grew 37% to £5.9 billion.

John Heron, Managing Director of Mortgages at Paragon reflects: 

“Complexity around the private rented sector resulting from fiscal changes and increased regulation has resulted in a shift in balance with professional landlords providing a greater proportion of the supply of rented homes. Paragon’s experience of lending in this segment over the last 20 years has helped to consolidate a leading market position and grow market share where others have seen their positions eroded.

Private landlords are vital to the UK’s housing provision and we continue to develop our product and service capability to support them in developing their business."

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Brexit continues to weigh on London prices

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Rightmove's latest House Price Index

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Modest rent rise in April : YourMove

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Reduction in PRS investment: Section 21

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Latest ONS house price figures

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Tuesday, May 21, 2019

Landlord ordered to behave himself

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Lenders overly cautious: Japanese knotweed

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Landlords abandon Tories in protest

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Masthaven launches new BTL products

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Tel: 029 2069 5446

Property transactions down 0.3% in April

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Is this a good time for London landlords to buy?

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Can my brother be my tenant?

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Monday, May 20, 2019

UK property register needed urgently

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The rise of Bridge-to-Let

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Tel: 029 2069 5446

Coastal house price data

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Council hands flat owner £146,000 bill

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Landlord's mental health - NLA podcast

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Stamp Duty Land Tax receipts down £1bn

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Record response to RLA post-Section 21 survey

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Latest Rightmove House Price Index

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Accord raises max LTV to 80%

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Tel: 029 2069 5446

Thursday, May 16, 2019

Increase in tenant activity predicted

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Skipton launches buy-to-let products

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£16,000 fine for unlicensed HMO

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Differing house price forecasts

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Renting Homes (Fees etc.) (Wales) Act

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Preparing a property to let - video

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Govt needs to restore LHA rates

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Prime Residential Report - Savills

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Wednesday, May 15, 2019

Imagining life after Section 21

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LendInvest launches new BTL products

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What can landlords charge tenants after June 1st?

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Pledge to speed up courts:repossessions

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Tuesday, May 14, 2019

Monday, May 13, 2019

Campaign to bring LHA rates in line with rents

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Anti-Money Laundering for letting agents

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BTL : here's why you should hold off selling

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Landlords selling - average £80k profit

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Paragon offers short term lending

PARAGON EXPANDS PRODUCT RANGE WITH SHORT TERM FUNDING FOR LANDLORDS

  • Short term finance for landlords to fund property refurbishment
  • Choice of options to cover property acquisition as well as upgrades to existing property
  • Interest can be rolled up or paid monthly
  • Opportunity to convert to a buy-to-let mortgage with reduced application fees
Paragon is expanding its specialist buy-to-let mortgage range with new short term finance products for property acquisition and refurbishment.

The short term finance products are designed to help landlords planning to purchase and improve property, as well as those looking to upgrade already-owned property to achieve a better yield.

The range includes three different options to cover standard, light and heavy refurbishment projects. This makes it suitable for landlords considering simple improvements, those undertaking refitting and modernisation work and those carrying out alterations that need planning permission, permitted development rights or building regulations. The range also extends to projects involving a change of use for HMOs and multi-unit conversions.

All options offer loan amounts of up to £1,000,000, with maximum loan to value (LTV) ratios ranging from 65% to 75% and terms from one month to 12 months depending on the option selected. Loans are interest only and come with a choice of either monthly payments or rolled up interest.

Landlords applying for standard and light finance with a maximum term of six months can also opt for a simultaneous short term finance and buy-to-let mortgage application on the same property. These applications will be assigned the same underwriter to improve continuity and customers will benefit from reduced mortgage application fees.

John Heron, Director of Mortgages at Paragon comments: 

“Short term finance is an important part of the funding mix especially for professional landlords looking to grow or reconfigure their property portfolio.

“As landlord tax changes begin to bite, property refurbishments can offer an attractive route to boost capital value and improve yield.”



Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446

What could the repossession process look like?

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Repossession: Courts failing landlords

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Should you sell your BTL properties?

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London property: prices stall, rents up

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City house price analysis - 1995 to now

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Thursday, May 09, 2019

Residential possessions up 10%

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Rents see biggest rise in the East Midlands

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Big rise” in older BTL investors

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Govt £200m pledge for high-rise cladding

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TML launches expat BTL products

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42-house car free development

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The demise of the ‘rogue’ landlord?

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Scottish rents up in Q1 - Citylets

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Oxford accreditation scheme unlawful - RLA

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Forget buy-to-let - high yield REIT

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Wednesday, May 08, 2019

Bridging loan interest rates drop

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House prices - big April jump

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Half of babies in rented accommodation

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Halifax's latest house price index


  • On a monthly basis, house prices rose by 1.1%, versus a fall of 1.3%March
  • House prices in the three months to April were 5.0% higher than in the same three months a year earlier
  • In the latest quarter (February to April) house prices were 4.2% higher than in the preceding three months (November to January).The average house price is now £236,619
  • In April 2009 average house prices were £154,663 - the low point following the 2008 financial crash. Since then we have seen an increase of £81,956, which reflects a 4.3% average annual increase.
The sharp 5% rise in April’s annual change figure comes against the backdrop of a particularly low growth rate over the corresponding period in 2018, impacting year-on-year comparisons. This also factors in a notably high growth figure recorded in February this year, driven by a higher volume of London sales and more expensive new build properties.

Russell Galley, Managing Director, Halifax, comments:

“The average UK house price now stands at £236,619 following a 1.1% monthly rise in April, as demand and supply of housing remained subdued for another month.

“The index has seen a weaker pace of growth over the last three years, which is consistent with the easing of transactions volumes and housing market activity reflected in RICS, Bank of England and HMRC figures.

“Looking further back, this April also marks 10 years since the lowest point of the Halifax house price index following the financial crash in 2008. Over the past decade annual house price growth has seen the average price increase by £81,956, or an average rise of 4.3% each year.”

Guidance on the Tenant Fees Act

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UK is attracting more overseas interest

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Tuesday, May 07, 2019

Taxation without justification - PRS

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Scottish consultation on short term lets

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How Airbnb took over the world

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I sold my home to a neighbour

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London Residential Review - Knight Frank

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Friday, May 03, 2019

Issue with emailing documents

We have received reports from users of issues with emailing documents from PM3s and creating tenancy agreements from the free tenancy agreement screen.

We are now working on sorting out this server issue.

Our apologies for any frustration caused.

PH



This is now fixed. Sorry again.

Thursday, May 02, 2019

Green space & London's house prices

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Tips for writing Facebook Ads

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Coroner calls for urgent electrical safety legislation

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More landlords looking to sell

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Wednesday, May 01, 2019

Stamp duty receipts fall: HMRC

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House price growth remains weak - Nationwide

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Allsop's May commercial property auction

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Location, location, lung disease

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Best glass extensions

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Airbnb seen as a digital service provider

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Housebuilders' leasehold pledge

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TMW cuts rates and new portfolio products

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Tuesday, April 30, 2019

RLA talking Section 21 on BBC

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Rightmove's latest Rental Trends Tracker

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Latest Land Registry sales data

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London house-price crash - Brexit?

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5yr fixed more popular than ever

  • Almost half of mortgage customers (49%) now opt for an initial fixed period of five years or more
  • Five year fixed rate mortgages double in popularity
  • Low interest rates and desire for cost certainty are key factors influencing customer behaviour

More customers than ever are opting for an initial fixed period of five years or more when choosing a mortgage according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index which surveys over 200 of the UK’s largest mortgage intermediaries.

According to the survey, almost half of all mortgage customers (49%) now opt for an initial fixed rate period of five years or more when selecting a mortgage, up from one in four (25%) in 2013.

Two and three year fixed rate products recorded a drop in popularity as a result, with two year fixed rate products falling from 54% of the total in 2013 to 37% in Q1 2019, and three year fixed rate products down from 18% to 12%.

The vast majority of mortgage intermediaries (90%) highlighted low interest rates coupled with concern over future rate rises as the key factor behind the popularity of the five year fix. Customers’ preference for long term certainty on payments was also highlighted as important (76% of intermediaries).

Whilst half of mortgage intermediaries (50%) felt that increased popularity of the five year fix was neutral for the mortgage market, two in ten (19%) felt it could have negative implications.

In particular, intermediaries were keen to stress that products with a longer term initial fixed period should only be considered by customers who expected to stay in their current home for an extended period. For customers considering a house move, early redemption penalties could outweigh the benefits of a longer term deal.

Intermediaries did not forsee any immediate catalyst to disrupt the popularity of the five year fix. A more stable economic climate post-Brexit was the factor highlighted as most likely to lead to an interest rate rise and reduce attractiveness (56% of intermediaries).

John Heron, Managing Director of Mortgages at Paragon said: “The five year fix has found a real sweet spot in the market. Low interest rates, economic uncertainty around Brexit, a drop in home-mover transactions and more remortgaging means that five year products have become a viable option for a much larger proportion of customers.”

View the full FACT Q1 2019 report at https://www.paragonbankinggroup.co.uk/resources/paragongroup/documents/publications/2019/fact-report-q1-2019

Turning a rented property into a home

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Sectoral Regulation Without Section 21

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Monday, April 29, 2019

FTBs face decade-long wait for deposit

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Fraudster landlord scams £1,200

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Cheapest prices on the Tube network

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Tenant causes £7k of damage

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Confused about renting and changes to capital gains tax

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