The mortgage industry rejoiced as the government announced the housing market could get back to work, but is it business as usual? asks Emma Lunn There was good news for anyone buying or selling a house, or working in property, on 11 May when the prime minister announced that the housing market would be reopening […]
Consumer choice of buy-to-let (BTL) mortgage products has increased significantly in recent weeks, the latest figures show. The data, taken from the latest Moneyfacts report, reveals that there are 280 more buy-to-let products available now than there were at the start of May. Buy-to-let landlords looking to secure a mortgage at 75% loan to value […]
As the market seeks to rebound from Covid-19, now is the time to offer BTL clients solidarity and support The buy-to-let mortgage market has been significantly affected by the lockdown measures that have been imposed due to coronavirus, with Moneyfacts recently reporting that the overall number of BTL products available had dropped markedly during the […]
The latest rental market data from HomeLet shows that average annual rents increased last month following the market officially reopening on May 13. Typical rents across the UK rose by 2.7% last month when compared to May 2019. The average monthly rent now stands at £959. However, on a monthly basis the average UK rent […]
Properties in England must have an Electrical Installation Condition Report (EICR) before new tenancies are started from 1st July 2020. The checks ensure the property’s electrical fixtures, such as light fixtures and electrical sockets, are safe before the tenant moves in. The EICR must be performed at least every five years for each property. Landlords […]
Demand for rental property is up 33% compared to this time last year as market restrictions ease and renters plan for the near-term future, according to Rightmove. Monday 18th May saw the highest level of rental demand ever recorded in one day on the property website. In terms of new stock, almost 23,000 new rental […]
Rightmove said visits to its website rose by 45% yesterday morning compared with a day earlier following the government’s decision to reopen the housing market as part of the easing of coronavirus lockdown restrictions. Email enquiries to agents increased 70% and new listings also shot up with 2,115 new properties added in just five hours, […]
Mortgage lenders have been adjusting their pricing and updating criteria as the market reopens and physical valuations resume this week. This morning has already seen a host of lenders repricing their deals as and fine tuning their risk appetite ready for an expected surge in applications. Platform has cut some 60 per cent loan-to-value deals while […]
Andy Haldane, the Bank of England’s chief economist, has told the Sunday Telegraph that negative interest rates could be considered in an effort to combat economic effects of the coronavirus lockdown measures. Haldane indicated the Bank of England is currently reviewing a number of monetary options it could take in its response to the global pandemic. These […]
Online visits and engagement by homebuyers and tenants in the UK has dropped 4.1% over the past six months as many people have been unable to follow through with their search due to the property industry lockdown, but there is now room for growth. The latest research by Spotahome shows that the UK saw the eighth […]