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Some of the nation’s largest lenders have raised mortgage rates in the past two weeks and, according to many in the industry, more may arrive soon. The Bank of England (BoE) has made no secret that it is considering a hike in key rates early next year and, together with Chancellor Rishi Sunak referring to …

There was little focus in today’s budget on the housing market, with the most important news being confirmation of development on brownfields and a tax on large home builders to fund the removal of the coating. Specifically, Chancellor Rishi Sunak said £24bn would be earmarked for housing, of which £1.8bn would be spent to commission …

Paradigm Mortgage Services has added specialist lender SBI UK to its panel of lenders. SBI UK is a wholly owned subsidiary of State Bank of India and Paradigm members will now have access to its BTL products for individual borrowers or SPVs. SBI offers BTL products for multiple occupancy houses (HMOs), expatriates and limited liability …

Standard Life Home Finance has launched a range of flexible lifetime mortgages with no prepayment charges if a customer moves to a property that does not meet the lender’s criteria. The Horizon products were designed by Key Group, which owns the rights to use the Standard Life Home Finance brand following an agreement in September. …

As of this writing, I have recently attended several industry events. Many people in the mortgage industry seem eager to reconnect with the potential risks that still exist, including me! It looks like rental investors (BTLs) are feeling the same, with two busy days at the Consumer Real Estate Investor Fair a few weeks ago. …

Emily Machin, Specialist Finance Manager, InterBay Commercial I think it’s fair to say that over the past couple of years, buy-to-let homeowners have had the proverbial kitchen sink thrown at them. Stamp duty surcharge on second homes, changes to mortgage underwriting standards and ever-shrinking mortgage interest tax relief associated with Brexit and Covid-19, it seems …

Unlike other sectors of the mortgage market, which have boomed, commercial real estate has suffered during the pandemic. Empty offices, closed pubs and restaurants and restricted retail outlets have made lenders very nervous about lending in this market. Ironically, one of the least attractive businesses, takeout, has become one of the most successful. However, for …

The Mortgage Strategy Awards, held last month, offered many insights into the state of the industry. And one thing that jumped out at this year’s event was that the future of this industry is in good hands. Smart, ambitious and very energetic – the next generation arriving right now is an impressive group that has …

The industry just celebrated 25 years of Rental Mortgage (BTL), but you’d be forgiven for thinking it’s been around much longer. It seems to have always been there but, like all mortgages, it was introduced for a reason: to fill a gap. We all know BTL is a big part in the transition industry. Much …

Halifax is increasing its maximum loan-to-income multiple from 5x earnings to 5.5x from Thursday. The higher LTI multiple will apply to those earning over £75,000 and borrowing up to £1m at less than 75% LTV. However, for the self-employed or anyone using an affordable housing program, the LTI multiple remains capped at 4.49 times earnings. …

As we all finally settle into the full impact of Section 24, the recent government tax reshuffle has thrown another wrench into the work for rental owners (BTL). While they are certainly not industry-wide of the aforementioned interest relief changes, the changes to Dividend Tax, Corporate Tax, and National Insurance (NI ) will impact many …

When it comes to submitting applications to lenders, a slow turnaround time is the main pet peeve of mortgage brokers. During the first lockdown, when the market had to adapt to remote working, brokers faced new challenges. Subsequently, the stamp duty exemption led to a dramatic increase in demand as borrowers hoped to take advantage …

Affordability remains the main disadvantage for people wishing to buy a home, which is why government programs such as Home Buyer’s Assistance have proven to be popular. Buying aid is due to close in 2023 and there are private companies looking to fill the void, but another way to get a foot on the housing …

Two large equity release lenders have started to tailor rates to individual borrowers and their properties, which is expected to trigger a trend in the industry. Earlier this year, Pure Retirement revealed that it will introduce custom interest rates based on each borrower’s zip code, property type, age, and loan amount. The lender continues to …

Recently, the UN released a damning report on global climate change. There were disturbing findings as to where we might be headed unless some serious changes take place. It’s the latest in a long line of calls for the global community to come together to tackle the problem, but it’s a stark reminder of the …

Mortgage Broker Tools has added Octane Capital to its MBT Affordability research platform panel. Lender specializes in complex BTL loans with no stress tests on residential and semi-commercial assets, freehold multi-unit buildings, multi-occupancy homes, properties over commercial, older community homes local and vacation rentals. Its offers are available to first-time buyers, first-time owners, borrowers with …

TORONTO, October 6, 2021 / CNW / – Crestpoint Real Estate Investments Ltd. (“Crestpoint”) is pleased to announce that it is expanding its product offering to include a dedicated commercial mortgage strategy. The Commercial Mortgage Strategy (“the Strategy”) will be led by Blake Steels, Vice-President, Head of Mortgage Investments. Steels, a seasoned private market real …

Bluestone Mortgages has relaunched its Help to Buy (HTB) range of mortgages, which is now available across the market. Products are available at up to 75% LTV over a five-year term, with rates starting at 4.50%. There are no application fees and each mortgage comes with a free standard appraisal. The maximum loan amount is …

In general, 15 years is not an advanced age for a company, unless it operates in the transition sector. In October we celebrate our 15th anniversary. The milestone presents an opportune time for reflection. In 2010 gross bypass in the UK was estimated at £400 million. In 2019, this had reached £4 billion. The bridge …

According to Rightmove, one million households saved £6.1billion when they moved during the stamp duty holiday. The data from the online estate agent comes after the end of 15-month tax relief in England and Northern Ireland yesterday, after it was introduced by Chancellor Rishi Sunak last July to revive an industry that had stagnated in …