This is despite the fact that 52% of buy to let property investors believe interest rates will rise next year, the report from specialist buy to let business Platinum Property Partners also shows.
While the majority expect an increase, overall 42% believe interest rates will rise by less than 2% and only 10% expect to see interest rates rise by 2% or more. However, 29% cited a rise in interest rates as their biggest concern for 2015.
READ this before making a comment, please :)
All comments are held for moderation. This can take a while and your comment may not be posted at all.
Make sure your name and email is correct.
Speech is free, but this website IS moderated! Please, comment the relevant post and stay on topic, link to your website in the field provided. Thank you!
Aspiring home owners will be asked to register their interest in buying via the Starter Home initiative from the start of next year, an initiative that has been brought forward by at least six months earlier than planned.
There will be a change to the planning system to free under used or unviable brownfield land from planning costs and levies in return for a below market value sale price on the homes built on the site.
Posted in Finances First Time Buyer Mortgage by .
Estate agents expect a sales boost of between 2% and 5% from Chancellor George Osborne’s Stamp Duty reforms announced in last week’s Autumn Statement, which mean the tax will be based on the actual value of the property, rather than strict bands.
However, they fear the benefit will have less of an effect on the London market, where 40% more of those surveyed in November believed prices were falling than rising, says the RICS UK Residential Market Survey.
Posted in Finances Real Estate Taxes by .
The lender will allow 25 buy-to-let properties up to a value of £5m and 75 per cent loan-to-value for the portfolio.
It will accept rental income to cover the interest commitment of the loan by 125 per cent, at a stress test rate of 5.5 per cent for the aggregation of the total loan.
Under the proposals, monthly rents could be no more than 50% of the local annual council tax bill. On a typical Band A London bedsit, this maximum rent could equate to about £390 per month, which is 35% of the London Living Wage and would be considered a truly affordable proportion of wages.
Landlords could opt out of the rent control system in return for a surcharge on the rent they charge above the cap. This money would go to the Mayor of London to fund new social housing, which, in turn, would reduce housing demand and lower the market rents.
Posted in Landlord Law Prices by .
High-end letting agency Knight Frank surveyed 18 to 24-year-olds to ask if they would be happy in a “microflat” – described by the agency as “a small studio flat around 300 square foot in size, in a building with communal entertaining space”. 45% of those questioned in London indicated that they would consider such an option.
Fleet Mortgages is a new lender based in Fleet, Hampshire, which lends exclusively through the intermediary sector. It is now offering a selection of two- and five-year fixed-rate deals and three-year tracker rates based on LIBOR across all three product options.
Fleet Mortgages is offering specific 65 per cent, 75 per cent and 80 per cent LTV products for individual and limited company buy-to-lets, and 65 per cent and 75 per cent LTV for HMOs.
The UK housing market has now cooled following a pick-up in valuations activity in September with October seeing the total number of valuations fall by 20%, new data shows.
However, on an annual basis, housing market activity decreased by 10%, an improvement from a slightly steeper fall of 12% over the 12 months to September 2014, according to the latest report from Connells Survey & Valuation.
‘While the housing market is now less animated than in September, the slowdown is broadly in line with seasonal expectations and is not an alarm bell. On average, we have seen a 16% drop from September to October every year since 2010,’ said the firm’s Corporate Services Director.
Council of Mortgage Lenders data show lending to home buyers decreased 7 per cent month-on-month in September to 58,600 loans. The value of these loans also fell 8 per cent month-on-month to £10bn.
However, conditions are still pretty robust if you compare them with last year. The number of loans in September was 13 per cent above the level for the same month in 2013, while the value of lending was up 20 per cent.
The average asking price rose by just 0.85% in the quarter but despite this small increase, the average asking price was the highest on record at £265,545.
Unusually, the Greater London market was subdued in the third quarter of the year as it tempered following the huge growth recorded in the first half of 2014, according to the data from Move with Us.
Posted in News by .
