NHBC building starts - map

NHBC UK house building starts & completions by region in the year to March 2017 compared with the previous year. #ukhousing pic.twitter.com/ejbaYtGbng

— Noble Francis (@NobleFrancis) April 28, 2017

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BTL lending has 'bottomed out'

IMLA: Buy to let lending has ‘bottomed out’ and will rise next year - https://t.co/c3wsprUVJR

— Mortgage Solutions (@mortgagesols) April 28, 2017

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Northern cities see strong price growth

House price growth hits 12-year high in some northern cities as London slows to five-year low https://t.co/VNMg7HiqLz

— Telegraph Property (@TeleProperty) April 27, 2017

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Labour not ruling out rent control

Labour not ruling out rent controls as possible manifesto pledge https://t.co/5knxGwy3GL #property

— NALScheme (@NALScheme) April 28, 2017

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Finance Bill; what stayed, what didn't.

Finance Bill: What went, what stayed and what will come back https://t.co/ZA5BrVONVb

— FTAdviser (@FTAdviser) April 28, 2017

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London rents fall sharply

London rents fall sharply as monthly bill drops across UK https://t.co/ZOBEZGynKL

— Guardian news (@guardiannews) April 28, 2017

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House prices fall again

Nationwide's House Price Index for April 2017 records another fall in house prices.

Robert Gardner, Nationwide's, Robert Gardner comments  :

“House prices recorded their second consecutive monthly fall in April, while the annual rate of growth slowed to 2.6%, the weakest since June 2013.

In some respects, the softening in house price growth is surprising because the unemployment rate is near to a 40- year low, confidence is still relatively high and mortgage rates have fallen to new all-time lows in recent months.

While monthly figures can be volatile, the recent softening in price growth may be a further indication that households are starting to react to the emerging squeeze on real incomes or to affordability pressures in key parts of the country.

Various data suggest that the latest slowdown in house prices may be part of a broader trend. Retail sales growth has slowed markedly in recent months, from a 14-year high of 7.3% in October, to 3.7% in February and 1.7% in March.

Household budgets are coming under pressure, as wage growth has moderated and inflation has accelerated. The household saving ratio, which measures how much incomegoes unspent each quarter, fell to an all-time low of 3.3% in Q4 on data extending back to 1963.

There may also be more fundamental reasons for the slowdown. House price growth has been outstripping earnings growth for a sustained period of time, steadily eroding affordability on a number of metrics. For example, the typical house price is currently 6.1 times average earnings, well above the long run average of 4.3 times earnings, and close to the all-time high of 6.4 times recorded in 2007. "

“Moreover, even though mortgage interest rates have touched new lows in recent months, the cost of servicing a typical mortgage is only just in line with long run average, and above long run averages in London and parts of the South of England."

House prices fell again in April, Nationwide says https://t.co/S0Dyo3jfXg

— BBC Business (@BBCBusiness) April 28, 2017

UK house prices fall again in April as buyers feel Brexit squeeze https://t.co/EW6684jsg3

— Guardian news (@guardiannews) April 28, 2017

UK house prices fall again > clients @jeremyleaf @Anderson_Harris comment in the Telegraph https://t.co/36eiqheRPf

— Melanie Bien (@melaniebien) April 28, 2017

House price growth slowest in nearly four years https://t.co/lfu1iszbJR

— FTAdviser (@FTAdviser) April 28, 2017

Britain's house prices have fallen for a second month, Nationwide says https://t.co/9EWcl0ESqP pic.twitter.com/oLK4TIrEcY

— Bloomberg (@business) April 28, 2017

EMoov.co.uk's Russell Quirk, comments:

"A further drop in property values certainly seems out of the ordinary for this peak time of year and is almost certainly being influenced by the decision to call a snap election.

The market had shown promising signs of picking up after months of uncertainty caused by the lead up to Article 50 being triggered. But it would seem this latest cat amongst the pigeons has once again caused an unseasonal freeze amongst UK buyers and sellers.

It is likely that this initial drop will be due to a snap election aftershock reverberating across the UK property sector and causing an almost immediate decline in price growth. But the heightened buyer demand that comes with this time of year should soon reverse this, if not before June, then immediately after the election dust has settled."

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Yourmove's BTL rent index for March

March's Your Move Buy to Let Indices for both Scotland and England & Wales have rents mostly up.

England & Wales stats:

• Average monthly rent now £800 pcm.
• East of England up the most, 1.6% in the last month, an annual rate of 7.4%.
• East of England rent (£883 pcm) moves ahead of the South East (£845)
• North East is still the cheapest region; average rental of £525 pcm.
• London rent £1,203 pcm,  down 6.4% from January’s £1,280 pcm.

Valerie Bannister from Your Move, comments:


“Rents in London have declined in the last 12 months, falling from £1,297 a year ago to £1,203 in March 2017.

In previous months we have seen rents in the South East rise as people looked to move beyond the capital, but it is the East of England which appears to be seeing the bene t as rents here have risen 7.4% in the last year.

Though rents have dropped in the South East as demand continues to outstrip supply for affordable housing, the area remains good value for renters.” 

Scotland stats:

• All regions rents are up.
• Average annual rental growth now 3.8%.
• Average rent is £565 pcm
• Most expensive region remains Edinburgh and Lothians  at £651 pcm.

Brian Moran from Your Move Scotland comments:

“March saw a stellar performance across Scotland as every single region recorded higher rents than the previous month.

Demand is increasing in segments of the market such as family homes, showing there is room for expansion of the rental sector.

This increased demand is being seen in areas such as the Highlands and Dumfries, suggesting the rental sector is extending beyond the big cities.

Yield levels have actually increased this month, bucking the trend seen in the rest of the UK. This shows Scotland remains a great place to invest, as well as a great place to live.”



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Landlord expansion plans at a low

The latest index from BM Solutions reports a big decline in landlord's appetite to acquire more rental property.

The lender reports that just 13% of respondents are looking to expand their existing portfolios; the least enthusiasm shown since they started collected data back in 2006.

It comes as no surprise to me; what with the legislative and tax beatings we've been subjected to, and the stella performance of the majority of investment trusts over the course of the past year.

Why on earth take on the hassle of further quirksome tenants when you can make a few clicks on a Hargreaves Lansdown account and be done with it?

The Government needs to take heed before clobbering us more.

Other factors listed by BM Solutions were, falling tenant demand, particularly in Central London,

Phil Rickards of BM Solutions, comments: 

“Despite signs of landlord confidence stabilising this quarter, fewer landlords are feeling optimistic about the prospects for their own businesses.

This has driven down the number of those looking to expand their portfolio further to a new all-time low despite the average portfolio creeping up slightly.

The impact of the tax changes has a natural link to landlord confidence, as the market landscape continues to be reshaped by changes in regulation.”

Landlord expansion plans at all-time low https://t.co/FDV9nPVxY7

— NLA (@nationalandlord) April 27, 2017

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Housing starts indicator at a high

British housing starts indicator hits 10-year high, commercial market improves https://t.co/ecOPEhBlyc pic.twitter.com/rvKJPUTnsp

— Reuters UK (@ReutersUK) April 27, 2017

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£7bn of BTL lending to disappear

MBE Leeds: £7bn of buy-to-let lending to disappear by 2018 https://t.co/VvSHmiprPQ pic.twitter.com/LbdJkbwowc

— Mortgage Introducer (@MortgageChat) April 26, 2017

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Trouble brews for UK commercial property

There's trouble brewing in the UK commercial property market, says @John_Stepek https://t.co/72q2GMg3ph pic.twitter.com/blQZxntnA7

— MoneyWeek (@MoneyWeek) April 26, 2017

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'Digital tax' return not in Finance Bill

'Controversial' digital tax returns delayed after being dropped from Finance Bill  https://t.co/aKNOmn57cY pic.twitter.com/vQ4kJgIHYA

— Telegraph News (@TelegraphNews) April 25, 2017

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A London rogue landlord database

Criminal landlords and agents who exploit tenants in London are to be "named and shamed" on an online database https://t.co/9AxQV15yVi pic.twitter.com/hjJVphMIBB

— BBC London Newsroom (@BBCLondonNews) April 26, 2017

London’s rogue landlords to be named and shamed https://t.co/VmIdn2sUZW

— Evening Standard (@standardnews) April 26, 2017

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Stamp duty receipts at all time high

Stamp duty receipts reach record high https://t.co/KMIHPch3Yf #property

— Property PR (@propertypr) April 25, 2017

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Lots of new London property unsold

The number of new, unsold Central London homes is set to reach a record high https://t.co/SgpjE0WPUA pic.twitter.com/VX0xQ9xupl

— Bloomberg (@business) November 8, 2016

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More landlords are selling up

More landlords exiting the market https://t.co/F9thNoGb2Y pic.twitter.com/ffbVDwI12O

— Mortgage Introducer (@MortgageChat) April 25, 2017

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Tenants lived like 'wild pigs'

Landlord fury over property that looked like 'wild pigs' lived there https://t.co/K05SDUOldg

— NLA (@nationalandlord) April 25, 2017

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£10k fine for bedsit in a shed

Lawyer fined £10,000 for running bedsit with 'kitchen in garden shed'. (And she does residential L&T work!) https://t.co/cbv0N6zu1e

— Nearly Legal (@nearlylegal) April 24, 2017

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Santander refreshes BTL range

Santander cuts rates and refreshes buy-to-let and resi ranges - https://t.co/jBdTLwj1pT

— Mortgage Solutions (@mortgagesols) April 24, 2017

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Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

Wealthy move from houses to flats

Sales of £1m apartments treble in a decade as wealthy buyers choose lateral living over grand houses https://t.co/e5ldSFzeYk

— ES Homes & Property (@HomesProperty) April 24, 2017

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Nine mistakes landlords make

The nine mistakes that landlords make (but should avoid) > client @jeremyleaf comments via @TeleProperty https://t.co/ZTNOXgbnYk

— Melanie Bien (@melaniebien) April 24, 2017

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JRF report - PRS regulations

Read our report: Regulation of the private rented sector in England using lessons from Ireland. https://t.co/kH0gTccOpH

— Joseph Rowntree Fdn. (@jrf_uk) April 24, 2017

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Ultra low mortgage rate bubble

Ultra-low mortgage rates aren’t a bonus – they’re a sign of a bubble | Jonn Elledge https://t.co/FYjnD76kmR

— Guardian news (@guardiannews) April 24, 2017

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Central London property price drop

Inner London house prices drop by £35,500 https://t.co/jRMsUqSZTw pic.twitter.com/c6tD4y5G5x

— ES Homes & Property (@HomesProperty) April 24, 2017

This is the 'bottom of the market' for the most expensive properties in London https://t.co/GnyNmvnU5b

— Telegraph Property (@TeleProperty) April 24, 2017

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Property asking prices hit new high

Rightmove's asking prices for newly marketed property has hit an all time high.

The average UK property asking price in April 2017 is up by 1.1% over the course of the past month.

• The average asking price is at £313,655 (+£3,547). 
• Annual growth slowing, now at 2.2%.
• First-time buyer properties annual growth of 6.5%, to £194,881.

Rightmove's Miles Shipside comments: 

“High buyer demand in most parts of the country has helped to propel the price of newly marketed property to record highs. There are signs of a strong spring market with the number of sales agreed achieved at this time of year being the highest since 2007. It remains to be seen what effect the run-up to the snap election will have, though any slowdown in activity will be counter-balanced by the market’s current fast pace. Indeed, in locations where choice of suitable property is limited hesitation could mean losing out to others who still decide to act.

Increasingly stretched buyer affordability will continue to be a price moderator for sellers who are over-ambitious with their pricing, tempering the pace of price rises. Strong buyer activity this month has led to 10% higher numbers of sales agreed than in the same period in 2016. This large year-on-year disparity should be viewed cautiously as the comparable timespan in 2016 saw a drop in buy-to-let activity with the additional second home stamp duty. However, they are also up by 3.8% when compared to 2015. With the growth in household numbers and new-build supply struggling to keep pace, demand is strong and has led to the highest sales agreed numbers at this time of year since the heady pre-credit-crunch levels.”

What's been happening in the #houseprices market this April? https://t.co/2j9au3vUye #property #news pic.twitter.com/DfskAeGPmw

— Rightmove (@rightmove) April 24, 2017

Spring selling season hots up but house price growth is not matching up https://t.co/NMTbqA6GTS

— Telegraph Property (@TeleProperty) April 24, 2017

Asking prices for homes rise to record average of £313,655 https://t.co/QuV32pOrmv

— Guardian news (@guardiannews) April 24, 2017

London house prices have dropped by £10,000 in the space of a year https://t.co/frGnwndUit via @CityAM

— Property4Media (@Prop4MediaUK) April 24, 2017

Asking prices hit record highs: Rightmove - https://t.co/fFNIQZPwNx

— Mortgage Solutions (@mortgagesols) April 24, 2017

Less competition from landlords leads to record first-time buyer sale prices https://t.co/DphsX6uxxP

— ES Homes & Property (@HomesProperty) April 26, 2017

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Property funds sit on cash

Property funds sitting on cash as FCA investigates sector - https://t.co/wPLqAAtLta

— Mortgage Solutions (@mortgagesols) April 24, 2017

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Landlord Mortgages and BTL Finance Are Key

There are two things that make for a successful residential investor. Firstly, there is getting good tenants; bringing landlords a regular and recurring income to service their debt.

The other is access to debt at a reasonable cost - a mortgage at a low rate.

Landlord Mortgages - a potted history

There is a lot to BTL and landlord mortgage finance; it is more complex and involved than a standard mortgage. Landlords have lived through extraordinary times in terms of access to debt recently.  In the 90s we had the emergence of the whole buy-to-let industry, when lenders recognised that lending against property to bone-fide landlords using an AST was not such a bad thing.  The BTL boom meant that landlords could get their hands on ridiculous amount of cash with literally no capital,  making them and the lenders vulnerable to any down turn in capital values. 

Then, came the inevitable crash. 

The 'credit crunch' meant that debt became a dirty word overnight.  Cash was again 'King', and low rated landlord mortgages were only there for landlords with 30% + of cash to put down.

In recent years we have seen the relaxing of this tight lending criteria, and now, once again landlord mortgages are readily available with Loan To Values (LTV) as high as 85%. 

Back to the boom days?! Well almost.  Now we have the Prudential Regulation Authority (PRA) wading into the mix and scuppering the happy days of easy lending.

PRA - Landlord Mortgage Controls

The Prudential Regulatory Authority (PRA) are a new organisation set up as part of the Bank of England to maintain stability within the economy.  One of the parting shots of the last Chancellor George Osborne was to slap on a tightening of the financial screw on lending to the buy-to-let sector by giving more restrictive guidelines to banks  underwriting the landlord mortgages.  In essence what it means to me and you it means that landlords will be able to borrow less again reversing the easy credit environment of the last few years.  The way that this will effect landlords is that the PRA have added an affordability test that requires landlords to be able to afford repayments based on an assumed interest rate of 5.5% as a posed to that which they actually pay.  This has had the effect of increasing the amount of rental cover required by many lenders from what was an industry average of 125% of the rent to 145%.  Portfolio landlords (defined as 4 or more properties) will face much tighter tests on their income than previously.  This element of the changes is due to come in from 30th September.

The motto of the landlord mortgage story is that whilst lending will not be as tight as it was before the buy-to-let revolution or after the credit crunch; the days of easy access to landlord mortgages and BTL mortgage finance are probably over for now.

Mortgage Search - all your options

Prices forecast to grow slower than rents

House prices are expected to climb at a slightly slower rate than rentals over the next 5 yearshttps://t.co/yJodfM2wzs #property #rent pic.twitter.com/Y7MoiQXx4g

— Zoopla (@Zoopla) April 13, 2017

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Santander to help BTL prisoners bound by PRA

Santander to help buy-to-let mortgage prisoners https://t.co/XPLPNILFY7

— FTAdviser (@FTAdviser) April 13, 2017

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Photo and video evidence -deposit disputes

In the event of a dispute photo and video evidence is vital. Find out how to best prepare this evidence here - https://t.co/wZUIaJdpfk pic.twitter.com/B2ErHTWHwJ

— mydeposits (@mydeposits) April 13, 2017

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Housing assoc. face storm of complaints

Housing associations face storm of complaints over new-build #homes, reports @johnharris1969 https://t.co/l4HuZlMKQi #ukhousing

— Guardian Housing (@GuardianHousing) April 11, 2017

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Property is worth more than ...anything

World equities? pah! Global real estate is worth over 3 times as much https://t.co/CkyX3Vk5ME pic.twitter.com/QrNfpiHwVo

— Yolande Barnes (@Yolande_Barnes) April 11, 2017

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DCLG's Lettings Fee Ban - consultation

Have you read the DCLG consultation paper on Banning letting agent fees paid by tenants? Respond by 2 June https://t.co/fL3dFq3KVi pic.twitter.com/6d4LcizUJC

— ARLA Propertymark (@arla_uk) April 13, 2017

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Housing supply at record low - RICS

News | UK Residential Market Survey shows a continued lack of impetus in enquiries and agreed sales. https://t.co/nmbNE1yuLf #RICSresi pic.twitter.com/WYEUGtvJVr

— RICS (@RICSnews) April 13, 2017

Housing availability at record low, Rics reports https://t.co/zqLRdybywq

— FTAdviser (@FTAdviser) April 13, 2017

Estate agents struggling to find homes to sell, says report https://t.co/8ypHh0wv7g #Housing pic.twitter.com/VIC86yqB4H

— Property PR (@propertypr) April 13, 2017

Housing market grinds to a halt as number of homes on market hits record low https://t.co/7uSHSFjGA2

— Telegraph Property (@TeleProperty) April 12, 2017

Surveyors get gloomy as property market stagnates https://t.co/Q4pqaVlMRV

— BBC Business (@BBCBusiness) April 12, 2017

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Tax change - what options do landlords have?

Stick or Twist: What options do landlords have following the tax changes? https://t.co/mVxEq8CkKi pic.twitter.com/tuL3ooNXQw

— NLA (@nationalandlord) April 13, 2017

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The 'sex for rent' landlords

Online adverts 'exploit homeless for sex' https://t.co/sZmsE7YA90

— BBC News (UK) (@BBCNews) April 12, 2017

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Property values per sq metre - UK map

Mapped! House prices per square metre, from brand new data https://t.co/IA1x9in4nL pic.twitter.com/QxZu4DwvbN

— Anna Powell-Smith (@darkgreener) April 13, 2017

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My Airbnb flat was turned into a brothel

'My Airbnb flat was turned into a pop-up brothel' https://t.co/7HKKryvcA3

— Marta de Sousa (@Marta_deSousa) April 11, 2017

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The death of the landlord

The death of the landlord – and how it could hurt millions of others > client @jeremyleaf comments in the Mirror https://t.co/MdlPgI1t3e

— Melanie Bien (@melaniebien) April 10, 2017

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Savills mainstream housing market update

Latest Savills mainstream housing market update – what do the lead indicators tell us this month? https://t.co/dmuSdEi8HC pic.twitter.com/csNclkQe5N

— Savills (@Savills) April 11, 2017

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Developers call for Gov to reverse BTL crackdown

Developers call on govt to reverse buy-to-let crackdown https://t.co/PvP8PUfhrV

— FTAdviser (@FTAdviser) April 10, 2017

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PRS rents growth chart

Private rents increased in the 12 months to March 2017.

Since Jan 2008:
London = +28.9%
England (excl. London) = +13.7%#ukhousing pic.twitter.com/nvCdx0Q06a

— Lichfields ThinkTank (@LichfieldsTT) April 11, 2017

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Rightmove sees increasing rental supply

The property portal has seen an increase of 12% in the number of available rental properties on its books.

The increase in supply is seen as the reason for the slowing rental growth; with asking rents now just 1.8% up over this time last year.

This relative abundance of rental property have lead to increased letting periods, up 10% over the year, with properties in London taking on average 20% longer to secure a tenant.

Rightmove’s Sam Mitchell comments: 

“The supply boost following last year’s buy-to-let frenzy in the first few months of the year has continued through to 2017, introducing more competition in the market for letting agents trying to secure suitable tenants for their landlords’ properties. This extra choice for tenants in many areas has inevitably led to properties taking longer to let than this time last year. However, agents are still reporting that well-priced properties in popular areas are letting quickly. The new tax changes that started to phase in from this month may also lead to some landlord’s selling off properties and the extra stamp duty on buy-to-lets may deter some landlords from expanding their portfolios, so now seems to be the right time for tenants who want to have more choice to look around. Agents’ properties need to stand out even more than before, so carefully considering how your property is presented is really important. Now might be the right time to encourage landlords to give the place a lick of paint or some new furniture to give them the edge to help secure the right tenant.”

What's happened in the #rentalmarket in Q1? Find out in our latest tracker: https://t.co/02lLMUv3UY #news #property pic.twitter.com/VemWwp8pBf

— Rightmove (@rightmove) April 10, 2017

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Latest House Price Index from the ONS

The latest House Price Data from the ONS puts the average property price in England at £234,466; a monthly increase of  0.8%, bringing the annual increase to 6.3%.

Wales fairs less well, with its average property price down to just £145,293; a monthly drop of  0.9%, means the annual growth rate is just 1.8%.

London's annual growth is also down, now just to 3.7% with average prices having dropped by 0.9% in February to £474,704. 

The regional data shows that:

• East of England experienced the greatest increase in its average property price over the last 12 months with a movement of 10.3%
• Yorkshire and the Humber experienced the greatest monthly price growth with an increase of 2.5%
• North East saw the lowest annual price growth with an increase of 2.2%
• South East saw the most significant monthly price fall with a movement of -1.0%

Monthly #UKhouseprices rose 0.6% since January 2017, average #propertyprice now £217,502 https://t.co/G36BoQes3d pic.twitter.com/qZVxMPQX8L

— HM Land Registry (@LandRegGov) April 11, 2017

UK house price growth 'picking up' https://t.co/uCi748hrPp

— BBC Business (@BBCBusiness) April 11, 2017

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Arguing for zero house price inflation

Zero house price inflation is to be welcomed not feared | Larry Elliott https://t.co/WGJATez1LL

— Guardian Money (@guardianmoney) April 9, 2017

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New - Rent Repayment Orders Guidance

Statutory guidance for Rent repayment orders under the Housing and Planning Act 2016 https://t.co/PZYvNtOLoO pic.twitter.com/T2OfZUAzV4

— ARLA Propertymark (@arla_uk) April 10, 2017

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City's average tenancy deposits

Our latest tenancy deposit rankings are out - how does your city compare? https://t.co/Vsfe8bJ9Kr pic.twitter.com/OZTMeO16SE

— The DPS (@The_DPS) April 10, 2017

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BTL tax will make it harder for FTBs

New BTL tax will make it harder, not easier, for first time buyers to afford a home https://t.co/QfO4V0wsw8 #property via @Telegraph

— NALScheme (@NALScheme) April 10, 2017

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Accord enters BTL market

Accord enters consumer buy-to-let market https://t.co/FkiZwyyaMs

— FTAdviser (@FTAdviser) April 10, 2017

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Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

Rent Repayment Orders extended

As part of the Housing and Planning Act 2016, new rules Rent Repayment Order (RRO) mean that  English local authorities and tenants can claim back up to 12 months rent from rogue landlords and agents.

From 6th April 2017 applications for Rent Repayment Order can be made for :

• Illegal eviction or harassment of occupiers;
• Using violence to secure entry; and
• Failure to comply with a housing improvement notice or prohibition order.

The new rules, cover Local authorities recovering rent paid by Housing Benefit or Universal Credit and tenants who have paid their own rent. 

A RRO application no longer needs to be made following a successful prosecution of the landlord or agent, all that is now required is enough proof to satisfy a hearing of the First-tier Tribunal (Property Chamber).


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Semi-commercial finance for landlords

For landlords who are deterred by the 2016 buy-to-let stamp duty increase, semi-commercial properties can provide an investment opportunity that avoids the higher levy. For example, a single freehold that includes a commercial property, such as a shop with living accommodation above it, is not subject to the 3 per cent levy increase imposed in 2016, because it is not considered to be a buy-to-let property. A savvy investor could buy the single freehold property and then create separate leases for the commercial element and the residential element. The flat above the shop could then be considered for a buy-to-let mortgage.

The recent rise in limited company applications has been documented previously and there could well be a further uplift this year after landlords file their tax returns and contemplate the real ramifications of the tax relief changes that come into effect in April

Many professional landlords are naturally entrepreneurial, adept at adapting to changes in the market and finding ways of making their businesses work. The recent spate of changes, although a hindrance for some, is likely to motivate serious buy-to-let investors to find alternative solutions to their problems.

Search the whole BTL mortgage market free 

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

Dealing with Japanese Knotweed

Japanese Knotweed can be extremely damaging! Find out how to deal with this destructive species here - https://t.co/DYRwZjknMT pic.twitter.com/U8l8h0iQWf

— mydeposits (@mydeposits) April 4, 2017

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New rogue landlord penalties start

Local authorities get new powers over rogue landlords and agents today.

As part of the Housing and Planning Act 2016, English local authorities will be able to issue civil penalties for housing offences such as; failing to comply with a housing improvement or overcrowding notice, not having any required licences,  and not complying with the House in Multiple Occupation (HMO) management regulations.

The maximum penalty is £30,000.

These new penalties do not require the local authority to take out a criminal prosecution, only that they must follow the Government guidelines in the process of collecting evidence and the issuing of notices. 

Landlord and agents will have the option to appeal penalties at the First-tier Tribunal (Property Chamber).

Any unpaid penalties can be collected via a county court order.

Rogue landlords face £30,000 fine for flouting rules - https://t.co/INqq3IWotO

— Mortgage Solutions (@mortgagesols) April 6, 2017

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Mortgage Trust - new BTL exclusives

Property Hawk Mortgages has launched two new exclusive buy-to-let fixed rates with Mortgage Trust. There is a 2.34% two-year fixed rate and a 2.95% five-year fixed rate, both available up to 75 per cent loan-to-value and with a free valuation.

We are certainly seeing a preference for fixed rates at the moment and have seen a pronounced increase in demand for five year fixed rates since the introduction of the PRA regulations and the changes to lenders’ rental calculations. In fact, five- year fixed rates have been the top sellers at Property Hawk Mortgages so far this year.

Mortgage Trust has a 125 per cent interest coverage ratio (ICR) for basic tax payers with a stress rate of 4.00 per cent for the 5-year product and 5.50 per cent for the two-year product, so these products could be an excellent choice for landlord clients looking for achievable fixed rates during this period of changing affordability assessments. The ICR increases to 140 per cent for higher and additional rate tax payers

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Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

The buy-to-let sell off

Buy-to-let sell off precedes tax relief cuts https://t.co/O2E16XBDzf #property

— Property PR (@propertypr) April 5, 2017

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New build leasehold scandal to cost Billions

Leasehold 'nightmare' will cost homebuyers billions, report warns https://t.co/5Kq5f7Jy3f

— Guardian news (@guardiannews) April 5, 2017

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Ltd Co take up 40% of BTL market

Ltd Co takes 40% of specialist BTL market - MFB - https://t.co/8DhKwJxswG

— Mortgage Solutions (@mortgagesols) April 4, 2017

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Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

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BTL mortgage update - Bridging Finance

Jane Simpson at Property Hawk Mortgages says:

Although we are predicting a relatively flat year for the overall buy-to-let mortgage market, there will still be plenty of lending opportunities for landlords who are willing to seek them out.

When a market is retracting or at least showing signs of slow growth, it is often of strategic benefit for businesses to look at ways of diversifying their income streams and this is no different for those operating in the buy-to-let mortgage market.

Property Hawk Mortgages is essentially a buy-to-let mortgage specialist and the obvious way to expand our proposition is to find products and services that complement our core first charge buy-to-let mortgage business. For this reason, we have now ventured into the second charge and bridging finance arena, but for buy-to-let only.

Bridging and second charges

My impression from discussions with numerous pundits in the industry including lenders, networks and other buy-to-let brokerages, is that there is a growing demand for alternative buy-to-let solutions. 

Second charge buy-to-let mortgages or short term finance such as bridging can resolve issues faced by landlord clients who are looking to raise capital. For example, those tied in with their existing mortgage provider or those on a very low reversionary rate with no incentive to remortgage away from their current product.

There are numerous reasons for landlords to raise capital and the purchase of a further buy-to-let property is a common one. However, the recent PRA regulations and subsequent changes to rental calculations has meant that some landlords are looking for ways of generating additional deposits to meet the tougher rental requirements. Second charges provide a possibility for doing this and a way for brokers to generate supplementary income.

At Property Hawk Mortgages, we are also receiving a growing number of enquiries about bridging finance solutions and now offer a range of both second charge and bridging products with Together Mortgages, Shawbrook, Masthaven and Precise.

Bridging is certainly growing in popularity among landlords and its reputation for being punitively expensive seems to be diminishing. If used intelligently, bridging can be an excellent resource for buy-to-let investors and enable them to make the most of opportunities and bargains in the rental property market.

For example, bridging is an excellent short term solution for landlords buying property at auction. Auction properties can often be obtained at a reduced price and allow investors to avoid paying higher stamp duty. Bridging can also provide an alternative for landlords purchasing cheaper properties that need some refurbishment before they are let out. There are numerous light refurbishment products available through core lenders, but a bridging specialist can often provide the resource to carry out more extensive renovations.

Search the whole BTL mortgage market free 

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

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The most popular BTL mortgages

Max LTV	Initial Rate	Term	Completion fee	Booking fee	Incentives	Lender
80%	2.64% Discount	2 Years	0%	£0.00	No	Hanley Economic Exclusive
80%	3.75% Fixed	2020-04-30	£995	£150.00	No	Paragon Premier Basic Rate & Ltd Company
80%	4.89% Discount	3 Years	2%	£0.00	No	Saffron BS Semi Exclusive
75%	2.34% Fixed	2 Years	£995	£150.00	Free Valuation	Mortgage Trust Exclusive
75%	2.95% Fixed	5 Years	2%	£150.00	Free Valuation	Mortgage Trust Exclusive
75%	3.24% Tracker	0 Years	1.25%	£0.00	No	N & P Ltd Company
75%	3.49% Fixed	2022-04-30	2%	£125.00	No	Foundation Semi-Exclusive Ltd Company
75%	3.59% Fixed	2019-06-30	1.5%	£0.00	No	Landbay Semi-Exclusive
75%	4.25% Fixed	2022-06-30	0%	£150.00	No	Paragon Premier Ltd Company
70%	3.79% Fixed	5 Years	1.3%	£125.00	No	Dudley Exclusive
65%	3.39% Fixed	2019-06-30	1.5%	£0.00	No	Landbay Semi-Exclusive Limited Company

 

Search the whole BTL mortgage market free 

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

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London house building set to plummet

London house building set to plummet by half as sales dwindle https://t.co/OD0bDtP5uM

— Telegraph Property (@TeleProperty) April 4, 2017

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Ltd company BTL products count soars

Limited company buy-to-let product count soars https://t.co/a3qhQz7kPE pic.twitter.com/Q5jnVwhyiZ

— Mortgage Introducer (@MortgageChat) April 4, 2017

Search the whole BTL mortgage market free 

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

Will Brexit mean we need fewer homes?

If Brexit means there will be fewer immigrants, does that mean we need to build fewer homes? Read our latest article https://t.co/gtfquCNm2k pic.twitter.com/vHkTpWm2IN

— CML press office (@cmlpressoffice) March 27, 2017

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Fergus Wilson backlash over racism

Unsurprisingly, the news that Kent landlord, Fergus Wilsons has a ban on renting to 'coloured' tenants has attracted an angry reaction on social media.

The 69-year-old landlord says he has been bombarded with offensive comments.

So affronted by the level and viciousness of the abuse Mr Wilson has raised the issue with the police.

However, Mr Wilson has refused to withdraw his comments, arguing it is not an issue of race, but a practical one, based on his concerns over the cooking of curries, and the risk of stains and smells that may result from this. 

Along with the social media backlash, Mr Wilson's letting policy has attracted the interest of the Equality and Human Rights Commission, who are now considering legal action.

BREAKING: Landlord who banned 'coloureds' calls in police over 'abusive messages' https://t.co/hl4tOaDvqL pic.twitter.com/Ix27jdbaQS

— KentOnline (@Kent_Online) April 3, 2017

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Basement conversion collapse

Photos show luxury home collapsing into rubble during basement rennovations https://t.co/IxbxYLhWBr pic.twitter.com/xQASqcNUhp

— Telegraph News (@TelegraphNews) April 3, 2017

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Landlord LTVs keep falling say Paragon

Loan-to-values on BTL mortgages are falling according to  Paragon Mortgages’ PRS Trends Report .

In Q1 2016 the average LTV on a BTL mortgage fell 2%, to 35%. 

The average LTV on a BTL back in Q2 2012 was 42%.

Paragon Mortgages, MD John Heron comments: 

“Average gearing is low and getting lower, and this long-term de-leveraging demonstrates just how financially conservative buy-to-let landlords are.

Looking ahead, it’s realistic to expect this downward drift in gearing to continue as the PRA’s new buy-to-let underwriting standards take effect.

Our PRS Trends Report indicates a resilient sector in Q1 2017 but, as the mortgage interest rate tax changes filter through between now and 2021, landlord confidence may be eroded further which could well result in a reduction in the supply of property to the sector and, in turn, higher rents.”

Search the whole BTL mortgage market free 

Email:info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages.  

The Financial Services Authority does not regulate some forms of mortgage.

New inheritance tax rules - Gov guide

From 6 April 2017, many individuals will be offered a family home allowance so they can pass their home on to their children or grandchildren tax-free after their death.

The family home allowance will be added to the existing £325,000 Inheritance Tax threshold, meaning the total tax-free allowance will end up by 2020-21 as:

• up to £500,000 for an individual
• up to £1 million for a surviving spouse or civil partner, by 2020-21

This additional allowance will be staggered as follows -

• £100,000 in 2017 to 2018
• £125,000 in 2018 to 2019
• £150,000 in 2019 to 2020
• £175,000 in 2020 to 2021

The allowance will be gradually withdrawn for estates worth more than £2 million.

Read the policy paper - Inheritance Tax: main residence nil-rate band and the existing nil-rate band

New #inheritancetax rules come into force on Thursday that ensure people can pass on their family home https://t.co/KjNeIERQVc pic.twitter.com/w4kQVUJcYK

— HM Treasury (@hmtreasury) April 3, 2017

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Northern landlords get the best returns

Northern buy-to-let landlords getting the best returns https://t.co/W07TQBgB11 pic.twitter.com/xq7crpFbng

— Mortgage Introducer (@MortgageChat) April 3, 2017

Northern BTL investors enjoy 7% rental yields - https://t.co/4zB7M6PMJs

— Mortgage Solutions (@mortgagesols) April 3, 2017

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455 new London skyscrapers mapped

London's future skyline: all 455 new skyscrapers mapped https://t.co/rg4vZAko3m

— Telegraph Property (@TeleProperty) March 30, 2017

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Rental site where tenants bid for a property

Rentberry's controversial property bid site expands in US https://t.co/pcJcwNnQkN #Expats pic.twitter.com/gfU4vm8UHu

— IIMG Ltd (@IIMGltd) April 2, 2017

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Paying off BTL mortgages to avoid tax change

Landlords remortgaging homes ahead of tax rule change https://t.co/rHQIqb9Vpr

— Winn & Co (@winnandco) April 3, 2017

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