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Significant increase in number of fee-free BTL mortgages

By | 2018-05-21T10:03:58+00:00 May 21st, 2018|Property News|

Previously, nearly all buy-to-let mortgages charged a minimum 1% arrangement fee, but fresh data from specialist buy-to-let broker Mortgages for Business shows that one in five buy-to-let mortgages now carries no lender arrangement fee, compared to just one in ten – 11% - a year ago. While the move by lenders to...

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Government to respond to petition calling for reform of ‘disastrous’ BTL tax changes

By | 2018-05-21T10:03:54+00:00 May 21st, 2018|Property News|

An online petition which calls on the government to reintroduce full buy-to-let mortgage interest tax relief and abolish the 3% stamp duty surcharge has passed the 10,000-signature mark. This means that the petition - launched on May 14 by Mark Homer - now requires an official response from the government. As of...

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Number of interest-only mortgages falls by almost half

By | 2018-05-21T10:03:59+00:00 May 21st, 2018|Property News|

The number of interest-only mortgages provided by lenders continues to fall, with the latest data from UK Finance revealing that there are currently 1.7 million outstanding interest-only mortgages, including partial interest-only, down 46% since 2012. The total value of the interest-only mortgage book is £250bn, down 37% on the corresponding period. It...

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Fees ban update: MPs to debate Tenant Fees Bill today

By | 2018-05-21T10:03:55+00:00 May 21st, 2018|Property News|

MPs will today undertake the second reading of the Tenant Fees Bill which proposes to ban upfront tenant fees and introduce caps on security and holding deposits. The ban on fees is expected to take effect next spring after the Tenant Fees Bill 2017-19 was introduced to House of Commons for...

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Claim your free tickets for The Southern Homebuilding & Renovating Show

By | 2018-05-21T10:04:00+00:00 May 21st, 2018|Property News|

The Southern Homebuilding & Renovating Show kicks off at Sandown Park in Surrey at the end of next month, and you can now claim a free pair of free tickets for the show worth £24. Across three days (30 June-1 July 2018) visitors can speak to more than 220 exhibitors and...

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SAFEagent Awareness Week: Consumer money still at risk until April 2019

By | 2018-05-21T10:03:57+00:00 May 21st, 2018|Property News|

Consumers' money remains at risk until April 1 2019 is the key message of this year’s SAFEagent Awareness Week. Over the next five days, over 3,000 agents will unite to raise awareness of the importance of working with an agency that is part of a recognised Client Money Protection (CMP) scheme. It...

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Belvoir back on the acquisition trail after securing funding

By | 2018-05-21T10:03:56+00:00 May 21st, 2018|Property News|

The UK’s largest franchise agency has secured funding which it will use to strengthen its growth and acquisition strategy. Belvoir has secured a loan facility from HSBC which is part of a refinance package of up to £17 million. The acquisition fund is part of a 'revolving credit facility' from HSBC which...

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Hampshire Trust Bank change BTL and HMO interest cover ratio

By | 2018-05-21T10:03:59+00:00 May 21st, 2018|Property News|

Hampshire Trust Bank (HTB) has enhanced the lending criteria on its buy-to-let and home in multiple occupation (HMO) five-year fixed rate deals, enabling customers to potentially borrow more. HTB will now assess eligible buy-to-let mortgage applications using a minimum of 125% rental cover for companies and 140% for individuals. The lender has...

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Market dip – letting agents’ board figures down in April

By | 2018-05-21T10:03:55+00:00 May 21st, 2018|Property News|

There was a decline in both the number of To Let and Let By properties during April, according to the latest Property Activity Index from board supplier Agency Express. Overall, the number of To Let boards was down 9.4% when compared to March, while the number of Let By boards dipped...

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Government pledges to consult on longer private tenancies

By | 2018-05-18T10:03:01+00:00 May 18th, 2018|Property News|

The government has announced that it is to formally consult on proposals for longer tenancies in the private rental sector. Although there has been much debate about the issue, with government and opposition politicians calling for longer tenancies - with industry bodies often in agreement - there has not until now...

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