Paragon sees 12.5% rise in buy-to-let lending

Tue 24 May 2016

Paragon has posted a 12.5% increase in underlying profits which hit £71.9m over the past six months. New buy-to-let lending reached £823.6m compared to £446.2m at the half-year point in 2015. The lender said the significant increase reflects the strength of the group’s position in the buy-to-let market and the acceleration of landlord purchasing activity […]

Best rental yields in the North West

Tue 24 May 2016

Landlords found the best rental yields in the North West of England last year, the Your Move and Reeds Rains buy-to-let index covering England and Wales found. In the year to April landlords in the North West recorded yields of 6.8% (not accounting for voids and arrears) with Yorkshire,The Humber (6.5%), the East Midlands (5.9%) and the […]

One bed flats to offer best gains

Mon 23 May 2016

Landlords expect one bedroom flats to see greatest capital gains in the next 12 months, Amicus research has indicated. A quarter (25%) of UK landlords said one bedroom flats will offer the most attractive capital gains over the next year, closely followed by student accommodation in university towns and cities (24%). John Jenkins, chief executive […]

Newcastle becomes latest lender to up income ratio to 145%

Mon 23 May 2016

Newcastle Intermediaries has followed TMW and Foundation Home Loans in raising its buy-to-let income ratio from 125% to 145%. The society has also reduced the number of buy-to-let properties it will lend on from five to three. The change won’t affect applications submitted before 31 May. Steve Carruthers, Newcastle’s head of mortgage distribution, said: “As a […]

BTL remortgage

Openwork adds Fleet to panel

Mon 23 May 2016

Openwork has added Fleet Mortgages to its lender panel. The network’s advisers will gain access to Fleet’s range of buy-to-let mortgages for residential landlords, limited companies and HMOs. Paul Shearman, mortgage proposition director at Openwork, said: “The addition of Fleet Mortgages will give our advisers access to a lender with strong knowledge of the specialist […]

Leeds unveils buy-to-let fixes

Mon 23 May 2016

Leeds Building Society has unveiled two buy-to-let remortgage products – a 3.04% 2-year fix and a 3.49% 5-year fix to 70% loan-to-value. The mortgages come with no completion fee, a free valuation and fees assisted legals. Jaedon Green, Leeds Building Society’s director of product and distribution, said: “Many landlords will be considering their portfolios in […]

FSE Manchester: Double quotes should be given on BTL cases

Wed 18 May 2016

Brokers should be giving out both personal and limited company quotes to landlords as a matter of best practice, according to Mortgages for Business MD David Whittaker. He pointed to firms such as 3MC that already offer dual quotes as standard as an example of what people should be doing. He said: “As a matter of […]

Foundation raises rental ratio to 145%

Mon 16 May 2016

Foundation Homeloans has followed Nationwide and will raise its rental calculation for individual applications from 125% to 145% from mid-June. Limited company buy-to-let products will remain unchanged at 125%. Simon Bayley, commercial director at Foundation, said: “There is no doubt that with the new restrictions on tax relief which landlords can claim back and now […]

SPECIAL FEATURE: The future of buy-to-let

Mon 16 May 2016

David Catt, chief operating officer of Hometrack, assesses the prospects for buy-to-let as new rules continue to come into force Last month saw the introduction of the 3% stamp duty land tax surcharge. The government announcement has led to huge amounts of speculation and reams of column inches in the past few months discussing the […]

Kensington cuts buy-to-let rates

Fri 13 May 2016

Kensington has cut its buy-to-let rates by up to 0.25% – with mortgages including a 70% loan-to-value 2-year fix at 3.74% with a 2% completion fee. The lender cut the cost of its fixed completion fee from £1999 to £999, with fixed terms starting from 4.24%. Kensington is also offering a full range at 80% […]