John Hewitt Jones

Construction output slows by 1.5%

Mon 17 Oct 2016

Construction output decreased by 1.5% in August, the Office for National Statistics has found. The slump in output follows a revised increase of 0.5% in July, contributing to a three-month decrease in construction industry output. New work makes up the majority of the data, with output relating to repair and maintenance facing a fall of […]

BTL remortgage

Limited company buy-to-let makes up 63% of mortgage applications

Thu 6 Oct 2016

A significant 63% of applications by landlords purchasing buy-to-let properties are being made through a limited company, Mortgages for Business’ Limited Company Buy to Let Index has revealed. The figure has increased from just below 21% before changes to tax relief on mortgage interest were announced by George Osborne in July 2015. In terms of […]

Cambridge academics offer FCA P2P insight

Thu 6 Oct 2016

The FCA has teamed up with academics from the University of Cambridge in a bid to understand how peer-to-peer lending and crowdfunding should be regulated. A research team from the Centre for Alternative Finance at the Cambridge Judge Business School will provide the FCA with in-depth analyses of the P2P sector. The work will inform […]

FCA to probe mortgage market relationships

Wed 5 Oct 2016

The FCA will investigate commercial relationships at the heart of the mortgage industry to assess their impact on consumers. Speaking at the Brevan Howard Centre for Financial Analysis at Imperial Business School, Christopher Woolard, executive director of strategy and competition at the FCA, said it will assess the relationships between brokers, lenders, panels, price comparison […]

Ortus secures additional funding

Thu 15 Sep 2016

Ortus Secured Finance has received a second funding round of £20m. The increase in funding brings the total amount of the secured lender’s new fund to £60m. In the second round of funding a number of original investors increased their initial stakes in the fund and £5m investment came from a global real estate investor. The […]

LendInvest backs homes under the hammer at LOT11

Fri 19 Aug 2016

LendInvest has become a funding partner for online auction house LOT11. Items for sale at LOT11 auctions will be pre-screened, allowing bidders to see which properties LendInvest is prepared to back. Summary funding details will be presented at each pre-qualified lot, including key property information. Matthew Tooth, head of distribution at LendInvest, said: “This exciting […]

Aldermore quits bridging market

Wed 17 Aug 2016

Aldermore bank has announced it will stop accepting new applications for bridging loans from 1 September. In a statement it said changes would apply nationwide but that it would honour all previous lending commitments until the deadline. A spokeswoman for Aldermore said: “As of 1 September we will no longer accept bridging applications but continue […]

London worst in UK for mortgage arrears

Tue 16 Aug 2016

Homeowners living in London are more likely to struggle with mortgage payments than householders across the UK, a report published by debt charity StepChange claims. Of 15,000 clients surveyed, 37.7% of those living London were in arrears by an average of £4,177, compared to 31.8% of those living across the rest of the UK, who […]

Shawbrook: lending confidence unchanged by Brexit

Mon 15 Aug 2016

Investor confidence in the UK lending environment remains unchanged, according to a commercial client poll published by Shawbrook. The survey reveals 57% of property investors are feeling confident or fairly confident about the lending environment over the next six months, compared to 58% in January 2016. Confidence is reflected in the proportion of investors looking […]

Second-charge mortgage repossessions down 40%

Thu 11 Aug 2016

The number of second-charge mortgage repossessions in second quarter of 2016 was down 40.3% year-on-year, Finance and Leasing Association figures have shown. Fiona Hoyle, head of consumer and mortgage finance at the FLA, pointed out the key role of second charges following the implementation of the Mortgage Credit Directive back in March. She said: “Second-charge […]

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