Monday 21 April 2014 | RSS Feed

Buy to Let News

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.

Rents rising fastest in Scotland

Landlords in Scotland benefitted from a rise in average advertising rents in February, Move with Us data has revealed.

House prices at new record high

House prices in England and Wales climbed to a new record high of £257,951 in February, the latest LSL House price index for England and Wales reveals.

Void periods on the decline

Landlords are reporting that the incidence of void periods are falling, which is good news for the wider private rented sector.

CMC revamps website

Connect Mortgage Club has relaunched its website to include more tools and services for brokers.

Landlords stay close

Landlords like to stick with what they know and stay in touching distance to their rented properties, Countrywide Residential Lettings has revealed.

Precise launches buy-to-let tracker

Precise Mortgages has launched a buy-to-let lifetime tracker product for landlords as an alternative to 2-year mortgage deals.

Shawbrook unveil big money loan products

Shawbrook’s commercial mortgages division is launching a range of larger loans products in response to the flourishing buy-to-let market.

Precise and Connect launch buy-to-let deal

Connect Mortgage Club and Precise Mortgages are launching two buy-to-let products together.

SPECIAL FEATURE: The Paragon Great Buy-to-let Debate

Buy-to-Let continues to be a popular investment choice, as well as a source of passionate discussion, which was evident at the second Paragon Buy-to-Let Debate held last week in Westminster, writes the Wriglesworth team.

City of London landlords earnings surge

Landlords in the City of London are collecting £1,059 more each month than in January 2013 as asking rents increased (31.43%) to an average of £3,369 per month.

Brokers optimistic about buy-to-let in 2014

Brokers are looking forward to an expected increase in buy-to-let business following an encouraging final quarter of 2013, research by NatWest Intermediary Solutions reveals.

TBMC launches two term trackers

TBMC has launched two exclusive buy-to-let mortgage products with the Hanley Economic.

Tenants growing older

The number of tenants aged over 30 increased by 6% in the year up to January 2013, research by Countrywide Residential Lettings revealed.

Landlords looking to increase property portfolios

A third of landlords are looking to expand their rental portfolios in the next 12 months, the latest BM Solutions / BDRC Continental Landlord Panel research reveals.

Masthaven launch buy-to-let product

Masthaven has launched a 70% LTV buy-to-let product at 9.85% targeted at customers struggling to meet buy-to-let criteria.

B2L income requirements still key

Income requirements are still key when assessing whether buy-to-let customers should be eligible for the loan, says David Whittaker, managing director of Mortgages for Business, writes Ryan Bembridge.

RSA joins Source panel

Source Insurance has added RSA to its Landlord Insurance Panel.

Packager slams buy-to-let requirements

Specialist lending packager Complete FS has called on lenders to review their insistence on minimum income requirements when assessing clients for funding, writes Ryan Bembridge.

Tenants warned not to overstretch

Tenants should not to be tempted to overstretch their budgets amid reports that more and more letting agents are turning to high pressure tactics to rent their properties, Landlord Assist has warned.

Paragon reports 207pc lending surge

Specialist lender Paragon Mortgages saw an increase in mortgage lending of 207% during 2013 as it lent a total of £140.2m.

SPECIAL FEATURE: More than just renters

Martin Gywnne, SourceLet proposition manager, looks ahead at what is predicted to be another buoyant year for the buy-to-let market.

Rent increases close North South divide

The UK rental market ended 2013 strongly with the average asking rent peaking at £986 per month in November at a time when rents typically dip due to the beginning of the festive season, the latest Move With Us Rental Index has discovered.

Rent rises slowed by half during 2013

Annual rent rises have halved over the course of 2013, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK’s largest lettings agent network, including national chains Your Move and Reeds Rains.

TMW revamps B2L range

The Mortgage Works is introducing five new buy-to-let products for both first time and experienced landlords.

Shawbrook enters heavy refurbishment arena

Shawbrook’s Commercial Mortgages has launched a short-term heavy refurbishment product.

New MD for ARLA

The Association of Residential Letting Agents has appointed David Cox as its new as managing director designate.

SfI offer free B2L remortgage valuation and cashback

Santander for Intermediaries adding a remortgage cashback element to all buy-to-let products with free valuation and £250 cashback paid on completion.

Mint Bridging joins AOBP

Mint Bridging has become the latest associate lender to join the Associate of Bridging Professionals.

Tenant arrears on the up

The number of tenants in severe arrears – more than two months behind – rose by 3.4% in the final quarter of 2013, the latest Tenant Arrears Tracker by LSL Property Service has revealed.

Mortgage Trust launches January Sale

Specialist buy-to-let lender Mortgage Trust has launched a range of limited quota products available exclusively in January only.

London rental price gap widens

The rental price gap in London grew to £4,411 in 2013 as it increased by £218 year-on-year, the latest Move with Us Rental Index has found.

Raucous renters risk festive fall-out

Many people will be gearing up to host festive get-togethers over the Christmas period, but those who rent need to make sure they remember their responsibilities or risk an unwanted present this year.

Countrywide invested £24m in UK rental market in 2013

Countrywide invested £24m in the UK rental market in 2013 snapping up 28 lettings businesses – more than two businesses per month.

Kent Reliance launches BTL refurb at 4.49pc

Kent Reliance is launching a buy-to-let light refurbishment 2-year discount product at 4.49% to allow professional landlords to upgrade a property and realise the increased value.

Kent Reliance scraps B2L min income requirement

Kent Reliance has scrapped with its minimum income requirement and will now to assess the suitability of cases on rental income alone.

Santander improves BTL criteria

Santander for Intermediaries has announced changes to its buy-to-let lending criteria.

Brits at home with renting

Figures from the latest Rent Check report, produced by BDRC Continental and Allsop LLP, show that Britons are increasingly at home with renting rather than buying their home.

Rents rise to 41pc of earnings

National rents showed no sign of slowdown in October, up 1% month-on-month and 11% annually to £785 per month.

Late rent lowest since 2008

Tenant arrears are at their lowest since 2008 despite a new record for rents across England and Wales according to the latest Buy-to-Let Index from LSL Property Services plc.

Hinckley & Rugby cuts 2-year BTL

Hinckley & Rugby has cut the interest rate on its buy-to-let 75% 2-year discount mortgage from 4.19% to 3.49%.