According to a government report1, the housing in the UK is among the oldest and least energy-efficient in Western Europe. The report states that around 19 million homes in the UK lack energy efficiency, and there are several reasons for this. Firstly, a large proportion of homes in the UK use gas boilers for heating, …
Top 10 considerations for landlords purchasing their first HMO or MUFB
If you have a landlord client who is looking to purchase their first House in Multiple Occupation (HMO) or Multi-unit Freehold Block (MUFB), there are several important factors they should consider: 1. Licensing Requirements Depending on the location of the property, landlords may need to obtain a license from the local council to operate an …
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Brokers are crucial in helping landlords find the right green mortgage.
In a speech on the 19th April at the London Institute of Banking & Finance Mortgage Conference, David Geale, the FCA’s Director of Retail Banking highlighted that green mortgages have a growing role to play in decarbonising the UK’s housing stock. He also sees brokers playing a pivotal role in helping borrowers navigate a complex …
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CHL Mortgages has the EPC improvement mortgage solution
A recent survey of 500 landlords* found that 59% would exit the market if the expected deadline of 2028 to upgrade properties to a minimum EPC C rating is introduced. This new legislation could make it challenging for landlords to purchase additional buy-to-let (BTL) properties or upgrade existing properties which require works to be carried …
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Energy efficiency benefits for all
The ongoing Energy Price Cap continues to save consumers around 30% on their energy bills. However, food price inflation and the overall cost of living is still on the rise and tenants carry the additional burden of being unable to achieve the energy-efficiency related home improvements that many homeowners are pursuing. Further to this, landlords …
2023 Spring Budget: an unintended impact on the mortgage market
The Chancellor spoke for about an hour (on Wednesday 15th March) and said that in November he had delivered stability and today he was focused on growth. He opened by saying the economy is performing better than expected and that the OBR judge the UK will not enter a technical recession this year. He also …
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Blended ICR: Get more bang for your clients’ buck
I think we are now all aware that the increases in buy-to-let (BTL) mortgage rates over recent months have impacted borrowers’ affordability, as lenders use an ICR to determine the maximum amount a client can borrow. Whilst rates have started to come down, we are some way off those that could have been enjoyed not …
HMO/MUFB: The growing demand from younger tenants
The average age of a first time buyer in the UK has risen to 34, six years older than the average age of a first-time buyer in 2007, which was 28. This naturally has a knock-on effect on the rental market, with 55% of people aged 25 to 34 currently in rented accommodation, up from …