SPECIAL FEATURE: PRA harming buy-to-let

Fri 15 Apr 2016

Simon Whittaker is finance director at Mortgages for Business In the latest of a string of government crackdowns affecting the buy-to-let mortgage market, the Prudential Regulation Authority (PRA) published a consultation paper (CP11/16) in March proposing stricter underwriting standards in a bid to prevent the market from overheating. The consultation paper follows a review by […]

Brandon Lewis pledges bigger and better PRS

Wed 13 Apr 2016

Housing minister Brandon Lewis has pledged to build a bigger, better private rental sector by increasingly housing supply. Lewis was speaking at the Association of Residential Lettings Agents Conference 2016 at ExCel London. He said: “The Private rented sector performs a vital role in the housing market, and we are committed to its continuous improvement. […]

Buy-to-let booms for second consecutive month

Wed 13 Apr 2016

Landlord borrowing rose by 61% year-on-year in February as the buy-to-let boom continued ahead of the stamp duty surcharge deadline. Today’s Council of Mortgage Lenders data shows that landlord borrowing stood at £3.7bn in February, with the number of loans coming to 23,700, an increase of 47% year-on-year. This was the second consecutive month buy-to-let […]

Source adds complex landlord insurance to panel

Mon 4 Apr 2016

Source Insurance has added an additional specialist landlord property insurance product, Landlord Plus, to its panel. Landlord Plus provides landlords with cover for all tenant types including unoccupied properties and holiday homes as well as properties undergoing renovation or construction work up to £250,000. Buildings cover is available up to £1m and contents £100,000 with […]

Paragon updates LTD company criteria

Mon 4 Apr 2016

Paragon Mortgages have made changes to their lending criteria for limited company landlords in the wake of recent government announcements regarding tax relief changes. The specialist buy-to-let mortgage provider has removed the exclusivity borrowing restriction for limited company landlords, meaning they can make best use of holding their properties in a corporate structure. John Heron, […]

Most landlords unfazed by stamp duty surcharge

Wed 30 Mar 2016

Four out of five (78%) would-be landlords will still consider investing in property after the new stamp duty rules are introduced from 1 April, Nottingham Building Society research shows. The 3% stamp duty surcharge will put off one in seven (14%) landlord purchases. Ian Gibbons, senior mortgage broking manager at Nottingham Mortgage Services (part of The […]

The Lending Channel hosts specialist roadshow

Tue 29 Mar 2016

The Lending Channel is hosting a roundtable event for brokers wanting to improve their knowledge of specialist lending. Aldermore, Bank of Scotland, Masthaven and Shawbrook will be speaking at the event, which will take place at Falkirk Stadium on 27 April, and will be available to talk through any questions brokers may have on commercial, […]

HMOs set to be top investment in 2016

Mon 21 Mar 2016

Houses in multiple occupation are likely to be the most popular property type for property investors this year, research from Shawbrook has claimed. A survey of the bank’s clients looked into the outlook for 2016 from property professionals and the expectations they have for their own investments. A third of investors cited HMOs as their […]

CML: Caution required on buy-to-let regulation

Mon 21 Mar 2016

The Financial Policy Committee must use caution when deciding when to use loan-to-income and loan-to-value caps to dampen a perceived boom in buy-to-let, the Council of Mortgage Lenders has warned. In its response to the Treasury’s consultation on buy-to-let powers of direction for the FPC the CML said lenders accept the need for robust macro-prudential […]

Scotland clamps down on landlord rights

Fri 18 Mar 2016

The Private Housing Bill was passed into law by the Scottish Parliament last night reducing landlords’ rights to repossess, end tenancies and raise rents in some areas. Under the new legislation landlords are no longer able to terminate a tenancy when the agreement reaches its contractual end, repossession grounds have been restricted and the government […]