Surprisingly demand for new homes has reached its lowest level since 2014, according to small to medium-sized (SME) house builders. The Federation of Master Builders (FMB) House Builders’ Survey 2020 found that 37% of are worried about the impact of restricted mortgage availability and what this will mean for prospective house hunters. Brian Berry, chief […]
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Estate and lettings agency Northwood Newcastle has completed the acquisition of Bowes Mitchell Limited, also based in Newcastle upon Tyne. In the process Northwood has added 224 rental properties to its lettings portfolio, bringing the total to over 500. Northwood Newcastle was purchased by Inderpal Dhillon and Aman Singh two and a half years ago. […]
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Keystone Property Finance has unveiled the launch of its Autumn Special products which will be available across both of its standard and specialist buy-to-let ranges. The new products are an enhancement to the lender’s Summer Specials released last month, and will sit alongside the core product range. The new products offer rate reductions of up […]
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Less than one in 10 (9.7%) UK private landlords now actively choose to invest in property as an individual, research from property developer SevenCapital has found. As it stands two in five (42%) landlords invest through a limited company, while 48% plan to invest through a limited company or are interested but don’t know how. […]
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A third of Brits either currently own a second home or would consider buying one in the UK. A survey conducted by The Guild of Property Professionals found that 35 to 44 year olds are the most likely to consider purchasing a second home in the country. Iain McKenzie, chief executive of The Guild of […]
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The government is changing the rules around shared ownership so buyers will only have to purchase a minimum stake of 10%. People will also be able to buy additional shares in the property via instalments of 1%. As it stands the minimum amount people can buy under shared ownership is 25% of the home, while […]
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United Trust Bank has launched a range of interest-only residential mortgage products for purchase and remortgage. Products have an LTV up to 75% loan-to-value, and start from 3.80% for a 2-year fix to 60% LTV. Buster Tolfree, commercial director – mortgages, United Trust Bank, said: “Within this interest-only residential mortgage product range, we believe we’ve […]
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Alpa Bhakta (pictured), chief executive of Butterfield Mortgages Limited COVID-19 cases might be steadily decreasing, though this does not mean we have overcome all of the fundamental challenges posed by this global pandemic. Market uncertainty has made it difficult for investors to plan for the future. While it looks as though we are on the […]
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Brokers have overwhelmingly searched for ‘Temporary Maximum LTV Restrictions’ for six months – highlighting how the lack of availability of high LTV mortgages has become such a challenge. The data comes from Knowledge Bank, the criteria search platform for mortgage brokers due to restrictions caused by the pandemic. Matthew Corker, lender relationship manager at Knowledge […]
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Karen Chapman, senior property partner at Druces LLP Buying at auction is an effective way to accelerate the often time-consuming conveyancing process and there is always the chance you could secure a bargain. However, before you rush to the auction house, here are six things you should consider before making your bid. Special Conditions The […]
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