94% of FHL cases beat stamp duty deadline

Tue 19 Apr 2016

Foundation Home Loans completed 94% of cases received by the end of January before the 3% stamp duty surcharge came into force on 1 April. The Bracknell-based buy-to-let lender had asked brokers to submit fully packaged cases within January to have a chance of making the cut, although 36% of completions in March were on […]

Complete FS appoints Kensington to panel

Mon 18 Apr 2016

South Coast based packager Complete FS has appointed specialist lender Kensington to its lending panel. Complete FS will offer all of Kensington’s core range of residential and buy-to-let products, in addition to a 90% LTV residential semi-exclusive. Rates on this 90% product start at 4.89% for a 2-year fixed rate and 5.19% for a 3-year fixed rate. Kensington, […]

Landlord campaign ramps up buy-to-let tax fight

Fri 15 Apr 2016

The landlord campaign to battle the buy-to-let tax changes is looking to raise an additional £250,000 through crowdfunding to battle the HMRC in court. Platinum Property Partners, which launched the campaign in February, raised £50,000 in eight days to launch a crusade against the government’s proposed tax changes – which will see the amount of mortgage […]

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, […]