The Bank of England has boosted quantitative easing by £150bn, in addition to holding interest rates at 0.1%. The Bank’s Monetary Policy Committee said the economy is expected to avoid another recession, but unemployment is likely to rise as government support schemes end. The unemployment rate is forecast to increase to around 6.3% by the […]
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Oscar Brooks, director at Moda Living As one of the UK’s fastest growing housing brands, it is our duty to make a mark on the rental sector. We realise more than ever the fundamental role technology plays in the day-to-day experiences of our residents, and how crucial it is to the future success and sustainability […]
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Legal & General has launched SmartrFit, a mortgage criteria search tool and affordability calculator for advisers. Results from SmartrFit inform advisers which lenders match their clients’ particular circumstances and the maximum loan amount they would offer. The tool utilises lenders’ own affordability and lending criteria, helping advisers find the right products quickly and accurately. SmartrFit […]
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A new 266-home development on the western edge of Melton Mowbray is set to launch early next year. Bellway East Midlands is building a selection of two, three and four-bedroom homes at Roman Gate, on land to the south of Leicester Road. Plans for the development were approved by Melton Borough Council in November last […]
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A shared ownership scheme backed by peer-to-peer (P2P) has launched, pledging to deliver net income of 3% per annum as well as 100% capital growth for investors. OnStep allows people to live in a home without a mortgage, with a deposit of 5% of the property value. This acts as an equity loan and the […]
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One in five individual and multi-property landlords felt unprepared when they first started letting properties, research by Direct Line – Business found. Out of those who didn’t feel ready, the most common areas they felt they were lacking in knowledge were drawing up tenancy agreements (59%), eviction rights (51%), public liability (49%) and tenant security […]
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The MCI mortgage club has added Buckinghamshire Building Society to its panel. Buckinghamshire Building Society products include Joint Borrower Sole Proprietor with no maximum age, up to a 40-year term, and a reverse Joint Burrower Sole Proprietor product, which allows children to help out parents. With a limited number of higher LTV products currently available, […]
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One in five (21%) business decision-makers say they do not trust any of their anti-money laundering (AML) checks to be automated, despite this year’s lockdown preventing most physical checks. The findings from leading AML software provider, SmartSearch, show a distinct lack of trust in electronic checks and verification, with 47% of senior business figures showing […]
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Automated lettings platform PlanetRent has partnered with LegalforLandlords to support landlords with their legal requirements. LegalforLandlords provides anything from basic legal support to advice on dealing with difficult tenants, as it has experience in evictions, rent and debt recovery The Warrington-based service has an in-house legal team but also offers services from partners including the […]
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People are looking to stretch their mortgage term to keep their payments as low as possible, Knowledge Bank data indicates. Brokers are mainly searching for ‘Maximum Age at End of Term’ on behalf of homeowners, as people continue to struggle with the effects of the coronavirus pandemic. Matthew Corker, lender relationship manager at Knowledge Bank, […]
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