Home lending slowed in May as the EU referendum cast a shadow over the property market June 9, 2016 Home lending slowed in May ahead of the EU referendum as political uncertainty cast a shadow over the property market. There were 65,113 house purchase approvals in May, down 1.7 per cent from 66,250 in April – a 12-month low. This decline means house purchased approvals have fallen by more than 10 per cent over [...]
Sadiq Khan won’t improve life for London’s renters by wrapping buy-to-let landlords in red tape June 8, 2016 A “referendum on housing.” That was how Sadiq Khan described the London mayoral contest. Access to housing that Londoners can afford is certainly critical to the future success of the capital, and at the heart of the mayor’s plans are substantial reforms to private rented property. As the voice of private landlords, we welcome debate about [...]
The CMA’s retail banking recommendations have been slammed by experts addressing parliament’s Treasury Select Committee June 7, 2016 The Competition and Markets Authority's (CMA) work on the retail banking market is a failed opportunity, MPs have been told. One challenger bank boss said that the concentration risk in the market will take “decades” to unwind, speaking at a Treasury Select Committee hearing earlier today. Meanwhile, a former Competition Commission member said that the provisional recommendations issued [...]
Homemover loan applications had the highest success rate for mortgage approvals in the first quarter June 2, 2016 Homemover loan applications registered the highest success rate for converting mortgage applications into completed deals in the first quarter, according to the Intermediary Mortgage Lenders Association (IMLA). The IMLA data shows that 80 per cent of homemover applications resulted in an offer and the same percentage of offers led to a deal. Read more: Nearly two out [...]
UK mortgage lending dropped to its lowest level since the height of the eurozone crisis in April June 1, 2016 Mortgage approvals have hit their lowest level since the height of the Eurozone crisis, according to the Bank of England. Mortgage loans totaled just £281m in April, their lowest level since August 2012, after the hike in stamp duty came into effect at the beginning of the month and buy to let landlords fled the [...]
Number of buy-to-let investors breaks through 1.75m barrier, though fears of a slowdown in the second half of the year persist May 30, 2016 The number of buy-to-let investors in the UK has broken through the 1.75m barrier for the first time, up by seven per cent over the last year. Not only are numbers of investors up but they're making more money as well. The net income – rental income minus all costs – of these investors increased by eight [...]
Privatising the Land Registry sounds like a great idea – but this is why it’s not May 27, 2016 It not uncommon to read about government policy decisions and count yourself lucky that you’re not the one making them. But when it comes to the current debate over whether to privatise the Land Registry, while a good idea on the surface, rejecting this proposal should be a no-brainer. It may not be a conundrum on [...]
London house prices: Mortgage lending rises 41 per cent in capital May 25, 2016 Slowdown? What slowdown? Mortgage borrowing to fund London house purchases rose a whopping 41 per cent in the first quarter of 2016 compared with last year, up to £7.1bn, figures published by the Council of Mortgage Lenders this morning revealed. The amount borrowed was also up quarter-on-quarter, rising six per cent on the last [...]
Zoopla’s innovation strategy pays off with mega profit growth in half-year results May 25, 2016 Online property portal Zoopla continued to shrug off competition today as it released robust growth in its half-year results over the six months ended 31 March. The figures Revenues grew 130 per cent to £96.4m, while adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) rose 89 per cent to £40.5m. This followed the inclusion of six months [...]
Surge in buy-to-let loans dries up pipeline for lender Paragon May 24, 2016 Specialist buy-to-let mortgage lender Paragon has recorded a 84.6 per cent increase in loans in the first six months of 2016, to £823.6m. “We saw a surge in applications from people trying to beat the stamp duty hike and as a result expect the second half to be weaker than usual,” chief executive Nigel Terrington told [...]