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On Starter Homes – we need a bold plan to address the housing crisis, not piecemeal schemes: http://t.co/Vs4qjABZUX pic.twitter.com/jU3dV9KBnM
— Shelter (@Shelter) March 2, 2015
Take advantage of our discounted landlord insurance rates
Tuesday, March 03, 2015
Shelter make a worthwhile point
It's good to see Shelter are finally getting to the route of the problem instead of just scapegoating landlords.
Take advantage of our discounted landlord insurance rates
Take advantage of our discounted landlord insurance rates
Nationwide February house price data
Nationwide has released February house price data showing a slowing market place.
The bank recorded a fall of 0.1% in average house prices during the month which brings the 12 month growth rate down from 6.8% in January, to 5.7% in February.
This is the sixth month in a row to see a fall in their annual growth rate figure.
“The broader economic backdrop has remained supportive of housing market activity. Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions. Indeed, the unemployment rate has continued to decline and earnings growth has picked up, particularly in inflation-adjusted terms, thanks in part to the sharp decline in energy prices."
“Nevertheless, the pace of housing market activity remains fairly subdued. There was a small increase in the number of mortgages approved for house purchase in December, up 2% from 59,000 in November to 60,300 in December, though it remains too early to determine whether this marks a turning point in activity."
The Nationwide's Chief Economist, Robert Gardner, commented:
“The broader economic backdrop has remained supportive of housing market activity. Mortgage rates remain close to all-time lows and consumer confidence remains buoyant thanks to a further steady improvement in labour market conditions. Indeed, the unemployment rate has continued to decline and earnings growth has picked up, particularly in inflation-adjusted terms, thanks in part to the sharp decline in energy prices."
“Nevertheless, the pace of housing market activity remains fairly subdued. There was a small increase in the number of mortgages approved for house purchase in December, up 2% from 59,000 in November to 60,300 in December, though it remains too early to determine whether this marks a turning point in activity."
Landlords increase equity stakes
Latest research has showed that landlords have increased the amount of equity in the new purchases of their buy-to-let.
Aspiring landlords have increased the amount of equity by 15% over the past year to average almost £100,000.
The average LTV deal sought by borrowers dropped from 62.2 % to 56.5%.
The research also showed that landlords were looking for shorter mortgages with those seeking mortgages of 25 years or more declining by 10% to 52% last year.
Landlord mortgages - whole of market - free quotes
Aspiring landlords have increased the amount of equity by 15% over the past year to average almost £100,000.
The average LTV deal sought by borrowers dropped from 62.2 % to 56.5%.
The research also showed that landlords were looking for shorter mortgages with those seeking mortgages of 25 years or more declining by 10% to 52% last year.
Landlord mortgages - whole of market - free quotes
Monday, March 02, 2015
BTL mortgages for expats
Property Hawk Mortgages receives a considerable number of buy-to-let mortgage enquiries involving Expat landlord clients and there are now more products available to service this niche sector.
Kent Reliance, Hanley Building Society, Shawbrook Bank, National Counties Building Society and Market Harborough Building Society all offer Expat buy-to-let products with products available up to 75% LTV.
The lowest rates are currently from National Counties Building Society with a 3.69% fixed or discounted rate up to 65% LTV, although the minimum loan size is £150,000.
All lenders require that the applicant owns an existing UK property and most have restrictions as to which countries the Expat is living in, such as being a member of Financial Action Task Force (TATF) and avoiding political hotspots.
Search the whole BTL mortgage market free
Email:info@propertyhawkbtlmortgages.co.uk
Kent Reliance, Hanley Building Society, Shawbrook Bank, National Counties Building Society and Market Harborough Building Society all offer Expat buy-to-let products with products available up to 75% LTV.
The lowest rates are currently from National Counties Building Society with a 3.69% fixed or discounted rate up to 65% LTV, although the minimum loan size is £150,000.
All lenders require that the applicant owns an existing UK property and most have restrictions as to which countries the Expat is living in, such as being a member of Financial Action Task Force (TATF) and avoiding political hotspots.
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.
Most popular BTL mortgages
| Max LTV | Initial Rate | Term | Completion fee | Booking fee | Incentives | Overall Cost for Comparison | Lender |
| 85% | 4.99% Fixed | 2 Years | 2% | £130.00 | No | 0% APR | Kent Reliance Semi Exclusive |
| 85% | 5.19% Fixed | 5 Years | 2% | £130.00 | No | 0% APR | Kent Reliance Semi Exclusive |
| 85% | 5.09% Discount | 2 Years | 2% | £130.00 | No | 0% APR | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 80% | 5.39% Variable | 0 Years | 2% | £0.00 | No | 0% APR | Saffron Light Refurbishment |
| 80% | 3.79% Fixed | 2017-04-30 | £2495 | £150.00 | Free valuation | 0% APR | Mortgage Trust Exclusive |
| 80% | 4.25% Fixed | 2017-04-30 | 0% | £150.00 | Free valuation | 0% APR | Mortgage Trust Exclusive |
| 80% | 3.5% Discount | 2 Years | 0% | £0.00 | No | 5.2% APR | Hanley Economic Exclusive |
| 75% | 2.75% Discount | 2 Years | 0% | £0.00 | No | 5.1% APR | Hanley Economic Exclusive |
| 75% | 4.69% Fixed | 2 Years | 1.5% | £130.00 | No | 0% APR | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 75% | 5.39% Variable | 0 Years | 2.5% | £0.00 | No | 0% APR | Saffron Light Refurbishment |
| 75% | 2.25% Fixed | 2017-04-30 | 2.5% | £150.00 | Free valuation | 0% APR | Mortgage Trust Exclusive |
| 75% | 3.5% Fixed | 2017-04-30 | 0% | £150.00 | Free valuation | 0% APR | Mortgage Trust Exclusive |
| 75% | 4.39% Fixed | 2 Years | 1.5% | £130.00 | No | 0% APR | Kent Reliance Semi Exclusive |
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.
BTL mortgages for older applicants
From April 6 this year the Governments pension reforms will come into play, which means that people with a private pension could draw-down their whole pension fund when they reach the age of 55, instead of buying an annuity.
There is speculation that this could have quite an impact on the buy-to-let sector as the over 55s look to reinvest the money that they receive once the proposed changes come into effect.
From the perspective of a buy-to-let mortgage intermediary, this means that we could see a rise in the number of older buy-to-let applicants in the years ahead. As retirement ages also increase, many people will not be expecting to draw their pension until they are 65-70 years old.
So what are the options for older buy-to-let applicants? Currently many lenders have an upper age limit of 75 years old at the end of the term of the mortgage with a minimum term of 5 years. This could prove difficult for those who are already 70 or those looking for a longer term mortgage.
However, Precise, Kent Reliance and Aldermore all have an upper age limit of 85 years at the end of term and National Counties Building Society specifies no upper age limit. Again the minimum term with these lenders is 5 years.
As the buy-to-let mortgage market is expected to continue growing this year and beyond, we may see more lenders offering niche products to cater for the varied needs of buy-to-let property investors.
Search the whole BTL mortgage market free
Email:info@propertyhawkbtlmortgages.co.uk
There is speculation that this could have quite an impact on the buy-to-let sector as the over 55s look to reinvest the money that they receive once the proposed changes come into effect.
From the perspective of a buy-to-let mortgage intermediary, this means that we could see a rise in the number of older buy-to-let applicants in the years ahead. As retirement ages also increase, many people will not be expecting to draw their pension until they are 65-70 years old.
So what are the options for older buy-to-let applicants? Currently many lenders have an upper age limit of 75 years old at the end of the term of the mortgage with a minimum term of 5 years. This could prove difficult for those who are already 70 or those looking for a longer term mortgage.
However, Precise, Kent Reliance and Aldermore all have an upper age limit of 85 years at the end of term and National Counties Building Society specifies no upper age limit. Again the minimum term with these lenders is 5 years.
As the buy-to-let mortgage market is expected to continue growing this year and beyond, we may see more lenders offering niche products to cater for the varied needs of buy-to-let property investors.
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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