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Buy to Let News

Paragon doubles buy-to-let lending

Paragon has grown its buy-to-let lending by 102% to £1.33bn over the year to 30 September 2015.

Rent growth slows in Scotland

The rate of rent growth in Scotland has almost halved since the Summer slowing from a 3.1% annual rise in June 2015, research from Your Move suggests.

Lenders concerned over Scottish rent controls

The Council of Mortgage Lenders, Nationwide, Aldermore and Precise Mortgages have all expressed serious concern about government proposals to give Scottish tenants more security.

Aldermore launches landlord hub

Aldermore has launched a Landlord Hub to host information and expert commentary on the buy-to-let market.

Fleet hires two BDMs

Fleet Mortgages has hired two new field-based business development managers as part of continued growth plans.

SPECIAL FEATURE: Buy-to-let concern overdone

Hansen Lu, property economist at Capital Economics, argues against an “overdone” reaction to growth in the buy-to-let mortgage market.

Ltd company buy-to-let on the up

The number of products available to landlords investing in buy-to-let through a limited company rose from 79 in the second half of last year to 99 in the first half of this year.

IMLA: Buy-to-let controls jump the gun

Yesterday’s announcement that the Financial Policy Committee is to receive powers to curb buy-to-let are “jumping the gun”, Peter Williams has warned.

Rents reach record high

Rents across England and Wales have reached the highest level on record while the gross yield on a typical rental property in England and Wales has risen to 5.2% in September.

Pensioners turn to buy-to-let

Three in five retirement experts believe pensioners are likely to invest in buy-to-let property to supplement their income in retirement, research from Equiniti claims.

Paragon Mortgages launch Paragon Premier

Paragon Mortgages is launching a product range aimed at professional landlords with larger-scale portfolios which will be available through an exclusive distribution network.

Foundation to launch Ltd company buy-to-let

Foundation Homeloans has confirmed plans to launch a range of buy-to-let loans for landlords investing in property through a limited company structure.

MBE 2015: Skipton fears consumer buy-to-let gaming

If lenders make ‘consumer’ buy-to-let cheaper than ‘commercial’ we could see a rise in gaming, Skipton Intermediaries’ head of intermediary relationships Paul Darwin has warned.

MBE 2015: Lenders will use one BTL process

Both Barclays and Skipton will merge the application process for all kinds of buy-to-let before deciding whether the deal should be classed as consumer or commercial, representatives from both lenders revealed today.

Paragon shows continued stability in PRS

The stability seen throughout 2015 in the private rented sector continued in Q3 with yields growing modestly, void period at a historic lows and steady tenant demand remaining high, research from Paragon Mortgages shows.

LEGAL VIEW: Consumer buy-to-let and MCD

James Teagle, partner at Blacks Solicitors, believes consumer landlords will be able to sign a declaration to waive protection rights under the Mortgage Credit Directive but lenders and brokers must show a duty of care or face claims down...

Buy-to-let availability improves

The number of available buy-to-let mortgage products leapt 11% over the three months to the end of September, analysis from Mortgages for Business suggests.

Dragonfly cuts buy-to-let fees

Dragonfly Property Finance has cut buy-to-let completion fees from 3% to 2.5%, reduced early repayment charges to 3% a year and increased the ERC-free period at the end of loans to three months.

FCA: Accidental landlords could waive rights

Accidental landlords may be able to waive their rights to consumer protection by stipulating that their decision to let a property is a commercial decision, the FCA has suggested.

Property letting could become a legal minefield

New legislation that comes into force today will limit landlord’s powers to evict their tenants and runs the risk of making property letting a legal minefield, CommercialTrust.co.uk has warned.

Dragonfly revamps buy-to-let range

Dragonfly Property Finance has made changes across its 2, 3, 4 and 5-year buy-to-let loan terms.

Andy Young to retire

Andy Young, CEO of buy to let mortgage specialist TBMC, has today announced he is to retire at the end of November.

Aldermore cuts buy-to-let and remo rates

Aldermore has cut rates on its range of buy-to-let and residential mortgage products.

Buy-to-let leaps 54pc in a year

Buy-to-let sales in August 2015 were up by 54.1% compared to the corresponding month last year hitting £3.31bn, research from Equifax Touchstone shows.

Steady as she goes for PRS market

Paragon Mortgages’ latest Private Rented Sector trends report for Q3 indicates a healthy rental market.

Landlords slow down on rent hikes

The number of letting agents reporting rent increases for tenants has fallen, according to the Association of Residential Letting Agents monthly Private Rental Sector Report.

FSE London: BTL market share to fall

Buy-to-let’s share of the overall mortgage market will fall once the Bank of England starts to hike base rates, senior economist at Nationwide Stefano Silvestrin has predicted.

FSE London: Faulkner blasts cash landlords

Too many landlords buy with cash when many should mortgage the properties to generate more income, property expert Kate Faulkner said.

SPECIAL FEATURE: Landlords tax for benefit

Brian Hall, founder of The Model Works, moots the idea that landlords should be taxed to pay housing benefit.

Landlords looking to expand portfolios

One in five existing landlords is planning to buy more properties to rent, research from the Nottingham Building Society shows.

Coventry cuts buy-to-let rates

Coventry for intermediaries has cut rates across its buy-to-let mortgage range at 65-75% loan-to-value with rates starting from 2.69%.

Lewis: Drive rogue landlords out

The government has renewed its commitment to drive rogue landlords out of business.

NatWest ups game on professional buy-to-let

NatWest Intermediary Solutions is opening its doors to professional landlords from tomorrow by relaxing criteria on its range of buy-to-let products.

L&G chief slams cottage buy-to-let

Legal & General’s group chief executive has thrown down the gauntlet to buy-to-let landlords calling for an “end to the cottage industry of fragmented ownership” of private rented housing in the UK.

Buy-to-let is safe haven from financial turbulence

The turmoil that originated in China last Monday has brought financial markets the world over almost to their knees – but UK landlords should be safe.

Buy-to-Let Club announces broker events

Specialist mortgage club The Buy-to-Let Club is to hold four buy-to-let events this Autumn to give brokers the knowledge to drive more and better business.

Rental property supply rises

The number of available private rented properties rose in July, according to the Association of Residential Letting Agents.

RLA warns against councils blocking new homes

The Residential Landlords Association has urged local councils not to roadblock developers seeking to convert empty office space into residential homes.

SPECIAL FEATURE: Landlord power

Fiona Heald, head of court of protection at Moore Blatch, explains why landlords need lasting powers of attorney.

One in three letting agents report rent increase

Over a third of letting agents saw rent increases last month, the highest recorded this year, the ARLA June PRS Report reveals.

Aldermore revamps buy-to-let and commercial range

Aldermore has revamped its entire range of buy-to-let mortgages, launching new standard and specialist products and brought its residential and commercial buy-to-let ranges under one proposition.

Parents renting closer to schools

Fierce competition for school places is driving parents to rent ever closer to the best schools, research from Countrywide reveals.

SPECIAL FEATURE: BTL: Not a saint, not a sinner

Paul Smee, director general of the Council of Mortgage Lenders, says that when it comes to housing tenure choice, there are no saints and sinners – the name of the game needs to be peaceful co-existence.

Keystone launches New Classic Range with Landbay

Keystone Buy to Let Mortgages has launched its New Classic Range with funding from peer-to-peer lending platform Landbay.

Keystone’s buy-to-let contract with Aldermore ends

Keystone’s funding contract with Aldermore Bank has ended after a three years, originating close to £200m in loans.

Landlords should consider costs to measure returns

Three-quarters of UK landlords don’t factor in the running costs they incur when measuring returns – a factor that can add up to over half of gross annual returns, research from Platinum Property Partners reveals.

Scot Wids Bank to pay product transfer proc fees

Scottish Widows Bank has today launched an online mortgage product transfer facility paying a full procuration fee upon completion.

One in four landlords consider using pension lump sum

One in four landlords would consider using a lump sum from their pension to invest in property, with a further 24% undecided, research from BM Solutions shows.

Buy-to-let outpacing residential growth

Analysis from Equifax Touchstone shows that buy-to-let lending in Q1 2015 grew by nearly 20% year-on-year, outpacing residential lending which was up by 1.6%.

Landlords predict rent rises to tail off

UK landlords expect annual rent growth to slow to 1.7% by next year, down from 3.7% currently.

Fixed rates most popular but trackers gaining fast

Intermediaries are writing more mortgage business with longer-term initial rates, research by Paragon Mortgages has revealed.

Pension changes will create more landlords

Bank of Ireland UK’s fourth buy-to-let market index has found that thousands of people are poised to make the most of new pensions freedoms and use their pension pot in order to enter the buy-to-let market.