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  • Mortgages & Finance

    Brexit & decline in BTL market - broker view

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    New figures from the Mortgage Advice Bureau give an insight into the changing demographics of buy to let investors.

    Buy to let mortgage applicants are clearly tightening their belt a little. Their average loan was £127,123 - down from well over £135,000 some 12 months ago.

    Their average purchase price is also down, by over five per cent, to £189,577. Their average salary is a (perhaps surprisingly modest) £39,270 - that just over 1.3 per cent more than a year ago.

    In terms of the mortgage market as a whole, MAB acknowledges that recent surveys show an increasingly cautious ‘wait and see’ tone amongst buyers but it says that “outside of London and the South East, in many pockets the ‘keep calm and carry on’ rhetoric appears to be prevailing, which is very encouraging.”

    Full/source article

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    The trade body for the mortgage sector has warned that buy-to-let purchase lending is set to come in at below its forecasts for 2018.

    UK Finance had predicted £12bn of buy-to-let lending for house purchase this year, but Jackie Bennett, director of mortgages, has warned this is heading for around £9bn.

    Speaking at UK Finance’s annual mortgage conference, she said: “Our forecast for 2018 was for around £12bn for buy-to-let purchase. The market looks like it will considerably undershoot this, coming in more around £9bn.

    “This is undoubtedly the impact of the various tax, regulatory and legislative changes that have happened to landlords in the buy-to-let sector.

    “With the 2018 tax bills dropping through landlords’ letterboxes, or more likely in their inboxes these days, we are yet to see what further impact this may have on the market.”

    Full/source article

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    The UK’s departure from the European Union has kept mortgage rates lower for longer – and if the prospect of a no deal Brexit rears its head that silver lining is likely to continue.

    That was the consensus from UK economists and Ray Boulger, senior technical manager of John Charcol.

    Full/source article

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    Another positive reason to hit a port and sit out the next 10 years

    rents will rise interest will stay low

    just sit tight

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.