Category: Buy-to-let

Paradigm member firms will be able to access the Principality’s range of mortgage products which covers residential, buy-to-let and holiday let.

As part of the revamp, Pepper Money has repriced rates across its residential and buy-to-let products, with the most notable change being a 0.20% reduction on the Pepper 24 5-year fixed rate, which is now available for 3.77%.

There were 24,880 new first-time buyer mortgages completed in February 2019, up 4.1% year-on-year while the were 4,800 new buy-to-let home purchase mortgages completed in February 2019, down 7.7% year-on-year.

Rents in London and the South East are 18% higher than in Q4 2007. Both regions have experienced weaker growth over the past two to three years.  Affordability peaked in 2015 at 45% of net earnings.

This is from 1 April 2016 to 1 April 2019 for higher-rate tax payers, assuming a 65% loan-to-value mortgage, 3% annual interest; and a 4.5% rental yield. Meanwhile over the same period investors in corporate residential landlords have seen a return of 37.7%.

Lloyd (pictured) said young people that have grown up with technology will feel more comfortable using tech for their mortgages when they’re older.

The refreshed range includes a choice of 2 and 5-year fixed rate mortgages for portfolio landlords and a selection of 5-year products for smaller-scale landlords, with different options for mortgages up to 75% and 80% loan-to-value.

All products will be available through Landbay’s approved distributor partners.

Currently after a fixed-term contract ends landlords can give tenants eight weeks’ notice and evict renters without a reason.

Parker joined Fleet Mortgages at the end of December 2018 after six years with a specialist lender in the later life lending market. Gibbon has been promoted to telephone BDM, having already worked in sales support for Fleet Mortgages and will work closely with Parker to support advisory firms in the region.