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 […]
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 […]
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 […]
Paragon Mortgages will now accept consumer buy-to-let applications via its sister brand Mortgage Trust. Ahead of Monday’s deadline its new online application system is live, meaning Mortgage Trust products are available to consumer buy-to-let customers. John Heron, Paragon’s director of mortgages, said: “We are pleased we have been able to launch our consumer buy-to-let application […]
Delegates at the Scottish National Party Spring Conference have voted in favour of introducing national rent controls for all Scottish tenants. Should the SNP win a majority in the upcoming Scottish general election this could mean landlords are unable to raise rents above a cap set by the State, even when their own mortgage costs […]
Landlord returns reached a 14-month high of 12% in the year to January 2016, the latest Buy-to-Let Index from Your Move and Reeds Rains has revealed. Landlords typically made £21,988 over the period. Adrian Gill, director of estate agents Reeds Rains and Your Move, said: “Buy-to-let returns are building and property prices are picking up […]
Mortgage brokers expect George Osborne to flesh out how the 3% stamp duty surcharge will work in the Budget announcement next Wednesday. Currently brokers are uncertain on how the surcharge will affect people buying a new main residence, married couples, consumers based overseas, properties owned in trusts and purchasing homes using bridging loans. There is […]
Buy-to-let transactions surged in February ahead of the 3% stamp duty surcharge deadline. The number of buy-to-let valuations rose by 34% from February last year, with remortgaging activity jumping by 41%. Activity was also 25% higher than in January 2016. John Bagshaw, corporate services director of Connells Survey & Valuation, said: “Expect this activity to reach […]
The number of retirement customers looking to invest the tax free cash lump sum from their pension pots into the buy-to-let has remained constant this year, data from Fidelity International has shown. From 6 April buy-to-let investors will have to pay an additional 3% stamp duty surcharge compared with residential buyers while higher-rate tax relief on mortgage […]