Friday, May 31, 2019

Instant effect - Tenant Fees Ban

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House price slump - Nationwide HPI

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Thursday, May 30, 2019

Spike in landlords selling up

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East sees biggest post-Brexit rent spike

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74,683 property sales in April

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Savills Resilient Cities Index

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Tenant fees ban - the details

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Wednesday, May 29, 2019

Fleet launches 5 yr fixed and cuts rates

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Letting agents ‘flouting’ existing laws

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DWP Universal Credit landlord newsletter

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Falling London house prices gives hope

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120,000 UC tenants behind on rent

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Millennials are already downsizing

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Mortgage approvals at a 2 year high

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New Permitted Development Rights

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Best agents will survive fees ban

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Tuesday, May 28, 2019

Letting agents using fees loopholes

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Mansfield add expat BTL to range

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Global Student Property Report 2019

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Govt announce bigger extension rights

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Half of landlords ‘more likely’ to leave PRS

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No help with leasehold extension

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Downside to tenant fees ban

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Coventry ups maximum BTL to £750k

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Sunday, May 26, 2019

Letting agent failed to provide key fob

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My landlord won't update my flat

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Saturday, May 25, 2019

Friday, May 24, 2019

MoJ figures put S21 ban into disarray

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Will a new PM change PRS policy?

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Thursday, May 23, 2019

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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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

The rise of Scottish Build to Rent

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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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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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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

Saturday, May 18, 2019

All lenders need to change their DSS tenant rules

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Thursday, May 16, 2019

£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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Pledge to speed up courts:repossessions

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Tuesday, May 14, 2019

Minister pledges court reforms

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Section 21: a case study of five landlords

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Platform cuts BTL rates

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Tel: 029 2069 5446

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.”



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Tel: 029 2069 5446

Repossession: Courts failing landlords

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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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Friday, May 10, 2019

Moving out of your student flat?

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Landlord fined £1.1m for cramped bedsits

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Thursday, May 09, 2019

Big rise” in older BTL investors

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Govt £200m pledge for high-rise cladding

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The demise of the ‘rogue’ landlord?

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Forget buy-to-let - high yield REIT

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