Development Finance

New home starts in England up by 5% last year, but completions fell

Fri 24 Feb 2017

The number of new homes started in England continued to rise last year and reached the highest level since 2007, the latest official data shows. Some 153,370 new homes were started in the year to December 2016, up 5% on the previous year and more than 140,500 homes were completed in the same period, according […]

3mc announces exclusive buy-to-let deal

Wed 22 Feb 2017

3mc has launched a buy-to-let mortgage deal funded by Precise Mortgages targeting houses in multiple occupation (HMOs) available for individuals and limited companies. The deal features a 2-year fix at 3.74% at 75% loan-to-value with an arrangement fee of £1,995 and a maximum loan size of £250,000. 3mc is also marketing a packager exclusive buy-to-let […]

Office to residential conversions down 19%

Tue 21 Feb 2017

The number of office to residential conversions has fallen by 19% over the last year, according to peer-to-peer investment platform Saving Stream. The number fell from 2,942 in 2015 to 2,388 in 2016 with a lack of funding available to property developers being blamed for the decline in conversions. Liam Brooke, co-founder of Saving Stream, […]

SDL Group: Build to Rent is booming

Thu 16 Feb 2017

The SDL Group has seen its build to rent business double in the past few months as the private rental sector grows, unlike first-time buyer business. With the Office for National Statistics putting house prices at 7.2% in the year to December 2016 first-time buyers are in danger of being left behind, reckoned Rob Clifford […]

Demolition begins at Westferry Printworks

Mon 13 Feb 2017

Demolition of Westferry Printworks began today in London’s Docklands in order to start the construction of a new waterfront neighbourhood. The demolition will be overseen by Printworks’ owner Northern & Shell and development manager Mace. The Westferry Printworks development received planning consent in August 2016 and the 16 acre site will provide over 700 new […]

Bank lending to developers struggling post-Brexit

Mon 13 Feb 2017

Bank lending to property developers has failed to recover since falling before the Brexit vote according to peer-to-peer secured lending platform Saving Stream. The amount lent by banks to property developers has fallen 7% year-on-year, from £16bn outstanding in December 2015 to £14.8bn in December 2016 according to the Bank of England. The reduction is […]

LendInvest unveils refurbishment product

Wed 8 Feb 2017

LendInvest has launched a refurbishment product with interest between 0.92% and 1.1% per month which is rolled up and paid at the end of the term. The loan is based on gross development value, not loan-to-value – and is available up to 70% GDV. Customers can take out loans between £100,000 and £2m for terms […]

JLL: Car parks could help solve property shortage

Tue 24 Jan 2017

Hundreds of thousands of new homes could be built on car parks in the UK without losing parking facilities and helping to boost the number of properties being built, new research from real estate firm JLL suggests. Some 400,000 new homes could be built on 10,500 ‘surface’ car parks in towns and cities around the […]

Construction must increase to hit government targets

Mon 23 Jan 2017

The UK government’s target of building a million new homes by 2020 will only be met if there is a substantial increase in construction, according to a new report. The need for housing in England has in recent years grown faster than its supply and despite a target of delivering a million new homes by […]

LendInvest looks to double development lending

Mon 23 Jan 2017

LendInvest wants to double its development finance lending this year which it views as an underserved and growing area, its chief commercial officer Matthew Tooth has revealed. Tooth said development finance makes up around 20% of its lending by value as it stands, but by the end of the year it should make up a […]