How landlords are softening the blow of buy to let tax changes June 10, 2016 The government's tax changes on second homes has produced a record demand for mortgages through companies in the first quarter of 2016, according to a report released today. Buy to let lending to limited companies surged to nearly 38,000 in the first quarter, which is more than for the whole of 2014, as landlords incorporate to [...]
House price growth falls to its lowest since October 2015 as stamp duty changes take their toll June 1, 2016 Have George Osborne's changes to house prices had their desired effect? House price growth fell in May, to its lowest since October last year – suggesting things could be about to look up for those struggling to move up the property ladder. Nationwide's House Price Index showed prices rose 1.3 per cent to £204,368 in the [...]
Buy to let investors are feeling the heat: What are the alternatives for gaining exposure to residential property? May 26, 2016 The buy-to-let boom of recent years has fed the stereotype that Brits are uniquely obsessed with property. Yet statistically this appears to be little more than a myth. The latest data from Eurostat show that 64.8 per cent of the UK adult population lives in a property they own compared to an EU average of [...]
School of hard knocks: How to cut the soaring cost of private education May 26, 2016 When it comes to our children, a good education is priceless. But if you’re talking about sending them to a private school, there is a hefty price tag, and it has been rising precipitously. To send a child to a private day school from 2015 to 2028 will set you back an average of £286,000, [...]
Mortgage lending rockets in March 2016 as stamp duty tax changes prompt a borrowing spree April 21, 2016 Mortgage lending ballooned in March as landlords and investors piled into the property market to beat a slew of tax changes which came into effect at the start of April. A total of £25.7bn was borrowed for home purchases in March, according to figures released by the Council of Mortgage Lenders (CML) this morning – 43 [...]
Proposed Basel changes could distort UK mortgage market, warns Council of Mortgage Lenders March 14, 2016 Proposed reforms to financial regulations would have “negative and unintended consequences” for the UK mortgage market, the Council of Mortgage Lenders (CML) has warned today. The CML said proposed reforms to Basel rules, a set of global rules adhered to by countries voluntarily, were "unduly harsh" on prime residential and buy to let mortgages. The reforms [...]
EU referendum: Housebuilders, mid-caps, banks and retail will be the sectors worst-hit by a Brexit, says UBS March 11, 2016 The Brexit debate continues apace – and now UBS Wealth Management has waded in on the argument, pointing out some of the sectors most at risk if the UK votes in favour of leaving the European Union. The good news is fears around Brexit have already been priced into the market, said Caroline Simmons, deputy [...]
Surge in mortgage approvals has no impact on house prices ahead of stamp duty surcharge – but the proportion of people renting rises again March 3, 2016 The impending stamp duty surcharge is distorting the housing market, with a "sharp" increase in the number of mortgage approvals in the first month of the year – the highest number since January 2014. But despite this, there has been just a slight uptick in house price growth, according to Nationwide, up 0.3 per cent in February [...]
Virgin Money’s share price soars as challenger bank confirms dividend after profits jump 53 pc March 2, 2016 Virgin Money's share price leaped eight per cent this morning after posting strong figures for its first full year as a public company, with profits soaring as customer numbers climb. The figures The challenger bank said underlying profit before tax was up 53 per cent to £160.3m for the calendar year, while net margins rose to 165 [...]
UK house prices: Homeowners rush to remortgage in January as activity reaches highest level in seven years February 23, 2016 Remortgaging activity has bounced back in January to reach its highest level in seven years as homeowners take advantage of a surge in mortgage products being offered at record low rates. Remortgage lending surged by 49 per cent to £6.2bn in January from £4.2bn in December and was 45 per cent ahead of the same [...]