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The government last week announced that homeowners struggling to pay their mortgage due to coronavirus will be able to extend their mortgage payment holiday for a further three months, or reduce payments, but more needs to be done to help people living in private rented accomodation.  While the mortgage payment holiday...
Posted: May 25, 2020, 2:32 pm
Private renters naturally have rights and responsibilities,  but it would appear that uncertainty presented by the outbreak of Covid-19 has left many tenants looking online for guidance.  Fresh research shows that many people, including renters, are using the internet to gain relevant knowledge and information during the existing crisis.  Boiler Plan assessed...
Posted: May 25, 2020, 2:24 pm
West One Loans has relaunched its buy-to-let range following the reintroduction of physical valuations.  The new mortgage deals, offered at up to 70% loan-to-value, are available on a maximum loan size of £250,000 and a maximum property value of £400,000 or £300,000 for flats. Borrowing seeking a higher loan can apply for...
Posted: May 25, 2020, 2:00 pm
Property transactions unsurprisingly slumped in April amid the lockdown restrictions imposed to contain the spread of the Covid-19 outbreak. The latest HMRC data shows that there were 46, 440 residential property transactions in April 2020, which is down 46.1% compared with a month earlier.  Property transactions in April were 53.4% lower than...
Posted: May 25, 2020, 1:15 pm
MPs on parliament’s Housing, Communities and Local Government have called for greater financial support to be provided to all tenants during the COVID-19 outbreak. The committee wants the Local Housing Allowance to be set at a rate that reflects real market rents, which is something landlords have long been calling for.  Research...
Posted: May 22, 2020, 7:00 am
Many landlords and letting agents are increasingly concerned about the economic impact of the coronavirus pandemic on their tenants and property portfolio, but with the property market reopening for business, are their potential ‘bargains’ to be had for those currently thinking of expanding their property portfolios.  Mortgages for Business has identified...
Posted: May 22, 2020, 7:00 am
Demand for rental property is up 33% compared to this time last year as market restrictions ease and renters plan for the near-term future, according to Rightmove.  Monday 18th May saw the highest level of rental demand ever recorded in one day on the property website.  In terms of new stock, almost...
Posted: May 22, 2020, 7:00 am
Barclays is cutting selected rates by up to 10 basis points on its fixed buy-to-let mortgage range with all products coming with a £999 product fee. Barclays has cut rates across its two, three, five and seven-year fixed rates.  A Barclays statement stated: “These changes will ensure we provide a wide range...
Posted: May 22, 2020, 7:00 am
Buy-to-let landlords are bending over backwards to support tenants struggling to pay their rent as a consequence of coronavirus, new research shows.  According to a survey of more than 4,500 private landlords by the National Residential Landlords Association (NRLA), 90% of landlords who had received a request for support from a...
Posted: May 21, 2020, 7:00 am
Residential property prices increased across the UK by an average of 2.1% in the year to March, up from 2% in February, according to the latest data from the Office for National Statistics.  Prices in London soared 4.7%, the largest 12-month growth recorded in the capital since December 2016. In England, house...
Posted: May 21, 2020, 7:00 am
LendInvest has refreshed its buy-to-let product range with rates now starting from 2.99%.  The mortgage products, which are available up to 75% loan-to-value (LTV) as valuations resume, are calculated at an affordability Interest Cover Ratio (ICR) of 5% against the total gross loan amount, while the lender has adjusted its definition...
Posted: May 21, 2020, 7:00 am
West One Loans has relaunched its buy-to-let range up to 70% loan-to-value (LTV) following the reintroduction of physical valuations.  The range is available on a maximum loan size of £250,000 and a maximum property value of £400,000 or £300,000 for flats. West One will lend up to 65% LTV for loans up...
Posted: May 21, 2020, 7:00 am
Online visits and engagement by homebuyers and tenants in the UK has dropped 4.1% over the past six months as many people have been unable to follow through with their search due to the property industry lockdown, but there is now room for growth.  The latest research by Spotahome shows that the...
Posted: May 20, 2020, 7:00 am
Further signs of greater activity in the housing market have come from Knight Frank. The company reports that the volume of online enquiries has picked up significantly in recent days as prospective buyers, including buy-to-let landlords, start to make fresh property investment plans following the government's decision to ease lockdown on the...
Posted: May 20, 2020, 7:00 am
Although all age groups are at risk of contracting Covid-19, older people face a significant risk of developing severe illness if they contract the disease, and that is why Age UK London is concerned that some older tenants in the capital do not have the support they need during this...
Posted: May 20, 2020, 7:00 am
OneSavings Bank (OSB) has increased the loan-to-value (LTV) to 75% across their buy-to-let ranges available through Kent Reliance for Intermediaries, Precise Mortgages and InterBay Commercial.  The rates offered by the specialist lender apply to products such as HMOs - up to six-bedrooms - and MUFBs for remortgages and for limited companies. “Being...
Posted: May 20, 2020, 7:00 am
There has been a significant increase in the number of rental properties hitting the market after lockdown on the sector was lifted last week.  Fresh analysis of rental stock figures sourced from Rightmove and Zoopla shows that the number of rental properties coming onto the market has surged by up to 44%...
Posted: May 19, 2020, 7:00 am
The Covid-19 pandemic has had a devasting impact on the short-term let industry, with nearly all those short-letting their property seeing the vast majority of their reservations cancelled, resulting in lost income.  To help those operating in the sector survive, the UK Short Term Accommodation Association (STAA) believes that, despite the very...
Posted: May 19, 2020, 7:00 am
Skipton International has returned to remortgage lending for overseas buyers looking to invest in the UK buy-to-let market.  Skipton International had recently stopped accepting mortgage applications due to Covid-19 restrictions preventing physical property valuations.  Skipton International will initially be accepting applications for remortgages only, with a maximum loan to value of 60%. Roger...
Posted: May 19, 2020, 7:00 am
Students at the University of Bristol have taken part in a socially distant march demanding greater help for tenants adversely affected by coronavirus.   The event was organised by student activist group Bristol, Cut the Rent who six months ago won £130,000 worth of rent cuts in halls. The demonstration came after student property companies...
Posted: May 19, 2020, 7:00 am