Tuesday 02 September 2014 | RSS Feed

Buy to Let News

Mortgage lending up 16pc year-on-year

Gross mortgage borrowing hit £10.9bn in July, up 16% on the same month last year, statistics from the BBA have shown.

Outer London drives rents up 3.7pc

UK rents increased 3.7% year-on-year with growth predominantly driven by outer London, the latest Countrywide lettings index has revealed.

Third of renters have never met their landlord

Some 30% of private tenants deal only with their letting agent, research from Ocean Finance reveals.

CML: Buy-to-let up 5pc

The total value of buy-to-let loans increased by 5% to £2.2bn in June on a month-on-month basis, Council of Mortgage Lenders data has revealed.

Q2 sees reduced B2L remortgage activity

The proportion of all buy-to-let remortgages handled by intermediaries in Q2 reduced by 6% over the past year, research from Paragon Mortgages has revealed.

HMRC targets landlords

Landlords are set to receive a letter from HMRC if they are suspected of not having paid enough tax this year, writes Charlotte Lloyd.

Landlords failing to research

Buy-to-let investors are being left out of pocket due to lack of research and poor planning, research from Platinum Property Partners has revealed, writes Charlotte Lloyd.

Landlords must take stock now

Landlords should take stock of their portfolios now or risk losing out in the event of an interest rate rise, Steve Bolton, founder and chairman of Platinum Property Partners has warned.

Virgin Money cuts rates up to 0.4pc

Virgin Money has today reduced a number of rates across its residential and buy-to-let mortgage ranges.

Greater London rents soar

Average rents in Greater London are now more than double those across the rest of the UK at £1,412 and £694 respectively.

Foreign student renters on the up

The numbers of independently wealthy foreign student renters has been increasing, with their share of the sector doubling from 12% to 29% between 2006 and 2012, writes Charlotte Lloyd.

Commercial Trust launches B2L comparison tool

Commercial Trust has launched a new buy-to-let product comparison tool for landlords.

Landlords expecting stable growth

Almost 100% of landlords report that tenant demand is currently stable or growing, a survey from specialist buy-to-let lender Paragon Mortgages found.

Barclays slash rates

Barclays is cutting the rates across its 2-year and 5-year fixed rate range, writes Charlotte Lloyd.

Rent growth remains stable

Rents have risen at just 1.4% and tenant arrears have improved over the last 12 months, the latest Buy-to-Let Index from LSL Property Services has revealed.

Sharp rise in HMO valuer complaints

The number of complaints from landlords and investors about the valuation they have received for their HMOs have seen a sharp increase, student property investment specialists The Mistoria Group has revealed.

Buy–to-let lending restrictions will harm supply

Imposing lending restrictions on the buy-to-let mortgage market could have damaging consequences for landlords and the supply of rental properties, Landlord Assist has confirmed.

Sesame launches holiday let exclusive via Leeds

Appointed representatives of the Sesame network can now access a holiday let exclusive 5-year fixed-rate product via Leeds Building Society.

Precise improves lending criteria

Precise Mortgages has improved the lending criteria on its residential and buy-to-let product ranges.

Rising property prices squeeze rental yields

Rising property prices are causing an about-turn in rental yields, the latest Mortgages for Business Complex Buy to Let Index has found.

Keystone reduces limited company rates

Keystone Buy to Let Mortgages has reduced its limited company application rates for the second time in two months.

B2L retirement investors expect strong returns

Buy-to-let investors expect income from their rental properties to bolster their annual retirement income by nearly £20,000, research from specialist buy-to-let business Platinum Property Partners has found.

Rents accelerate in May

Rents rose by 0.6% in May, accelerating from zero monthly change in April, the latest Buy-to-Let Index from LSL Property Services has revealed.

Virgin slashes B2L rates

Virgin Money has reduced the rates on a number of its buy-to-let fixed rate and tracker products.

Leeds BS cuts fees on buy-to-let

Leeds Building Society has cut the fees on its range of buy-to-let mortgages.

Paragon sees 167pc B2L boost

Paragon Group, the parent company of specialist buy-to-let lender Paragon Mortgages, saw a 167% increase in its buy-to-let business between 1 October 2013 to 31 March 2014.

Friends Life upgrade CI plan

Friends Life has announced upgrades to its critical illness plan which become effective from today, writes Alan Lakey, director, CIExpert.

Rental records set in South East

Rental prices hit record levels in the South East in April as the latest Move with Us Residential Rental Index reveals asking rents in the region grew by nearly 2%.

60pc of landlords to expand portfolios

Three in five landlords plan to increase their property portfolios within six months, research from Mortgages for Business has revealed.

Buy-to-let sector grows from strength to strength

Buy-to-let lending saw a rise in March by both volume and value on the previous month according to the latest CML lending data released today

One in three look to BTL as long term investment

More than a third of landlords say that they took the decision to enter the buy-to-let market as a long term investment, research from Precise Mortgages reveals.

EXCLUSIVE: Jas Jaspal launches Berkeley Knight

Jas Jaspal - founder of Coventry-based broker Oakwood Financial Management – has launched a new proposition which allows mortgage brokers to fulfil the role of an estate agent.

Belvoir warns against Labour letting reforms

Plans by the Labour Party to pass new laws that will make renting more affordable and provide tenants with greater protection should they be elected to government have been warned against by specialist residential letting agency Belvoir.

Blemain updates buy-to-let range

Blemain Finance has reduced rates across all secured buy-to-let plans and now offer no six month minimum ownership period and will consider a variety of property types, purposes and customer profiles.

Kent Reliance cuts large loan buy-to-let rates

Kent Reliance has launched a range of specialist large loan buy-to-let mortgages with rates from 4.39% and has reduced rates for standard buy-to-let large products, starting from 4.19%.

Landlords show buy-to-let confidence

Landlords are becoming ever more confident in their buy-to-let investments, Paragon Mortgage figures show.

TBMC launches 2.75pc lifetime discount

TBMC, the buy-to-let and commercial mortgage specialist, has launched a new exclusive buy-to-let mortgage with Hanley Economic Building Society.

SourceLet offers free £400 tenant referencing trial

SourceLet is offering letting agents and landlords the opportunity a free trial of its referencing service worth up to £400.

Shawbrook names CMD as B2L Strategic Partner

Shawbrook Bank has appointed Reading-based brokerage Commercial Mortgage Desk to its Strategic Partner programme.

Keystone reduces fixed rates

Keystone Buy to Let Mortgages has reduced its fixed rate prices just two months after introducing its Classic and Premier Ranges.

Santander unveils fixed 5-year BTL

Santander for Intermediaries has launched a fixed 5-year buy-to-let mortgage, while also reducing a range of its other products for landlords.

Government closes in on tenancy fraudsters

The government has pledged over £35m to clamp down on social housing and tenancy fraud, writes Harry Yorke.

Number of serious rent arrears fall

Tenants struggling with late rent have made significant progress in the last twelve months, the latest Tenant Arrears Tracker by LSL Property Services has revealed.

TMW remove upper B2L age limits

The Mortgage Works is to remove upper age limits at term maturity on its buy-to-let mortgages.

Santander opens B2L to self employed

Self employed landlords will be able to apply for buy-to-let mortgages through Santander for Intermediaries later this month.

Sales boom stifles potential rentals

Letting out properties due to not being able to sell is getting rarer, research from the Association of Residential Letting Agents revealed.

Paragon: B2L should be held in pensions

Paragon Mortgages has called on the government to allow buy-to-let property to be included in pension schemes.

Students in debt with hidden housing costs

The National Union of Students has called for regulation of letting agents as well as an end to letting fees to help students budget by knowing the overall cost, writes Ryan Bembridge.

CHL B2L arrears outperform market

Specialist lender, CHL Mortgages, has revealed a continuing fall in arrear levels throughout 2013 for its buy-to-let mortgage book.

Castle Trust in hunt for sales director as Howard retires

Mortgage industry veteran Paul Howard is to retire as managing director of Castle Trust in May when his contract expires and will be replaced by a sales director, writes Robyn Hall.

Teachers launch new B2L deals

Teachers Building Society has launched two new buy-to-let deals and lowered the rate on its Help to Buy product.

Virgin launch 75pc buy-to-let range

Virgin Money has increased its maximum LTV from 70% to 75% on a new range of buy-to-let products.