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 …
2023 Spring Budget: an unintended impact on the mortgage marketRead More
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 …
Refurbishing the Buy-to-Let sector
The supply of new homes continues to be an ongoing concern for potential homeowners, renters, landlords and pretty much everyone in and around the housing market. This was evident in recent government data which outlined that only 181,810 new homes were completed across the UK in 2021, 40% below the well-documented target of 300,000 new …
70% of portfolio landlords expect to remortgage or consolidate loans in the next 12 months
A webinar poll conducted by CHL Mortgages, the intermediary-only specialist buy-to-let lender, suggests that 70% of portfolio landlords expect to remortgage or consolidate loans over the next 12 months. When breaking this down, over half (53%) of broker respondents had one to five portfolio landlord clients who would remortgage or consolidate loans in 2022. Interestingly, …
70% of portfolio landlords expect to remortgage or consolidate loans in the next 12 monthsRead More
CHL Mortgages added to Brilliant Solutions’ lending panel
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has been added to Brilliant Solutions’ lending panel. This partnership will provide Brilliant Solutions’ membership of directly authorised (DA) brokers with access to CHL’s extensive specialist buy-to-let product range. This is available to first-time landlords, portfolio landlords and limited companies covering a variety of BTL investment vehicles including …
CHL Mortgages added to Brilliant Solutions’ lending panelRead More
Act now to help your clients combat potential rises in Buy-to-Let rates
In line with the expectation of many economists, the Bank of England has just announced a rise in the base rate of 0.25% taking it to 0.5%. Previously, in December 2021, we saw the first rate hike for more than three years when the base rate increased by 0.15%. This is largely due to inflation …
Act now to help your clients combat potential rises in Buy-to-Let ratesRead More