Waiting for rates to drop? That might not be a good idea…
There appears to be an assumption that mortgage rates are directly tied to Bank of England base rates, and that mortgage rates will only come down in the latter part of this year. That isn’t the case, and the reality is that if the Bank of England decide not to reduce the rate, rates could actually go up.
Maximizing Your Borrowing Potential: Mortgage Affordability Explained
This guide explains mortgage affordability in the UK for residential buyers and buy-to-let investors. Learn how affordability is calculated, including income assessments, essential expenses, and regulatory limits. Discover strategies to maximize your borrowing potential and navigate the mortgage landscape effectively to achieve your property investment goals.
Trends and predictions for the UK Property Market – 5 years of data
Over the past few years, the UK property market has experienced significant changes, driven by fluctuating interest rates, economic uncertainties, and evolving demand patterns. For potential Buy to Let (BTL) investors, understanding these dynamics is crucial for making informed investment decisions. This analysis delves into the recent data on house prices, mortgage rates, and rental trends to provide a comprehensive outlook for BTL investments in 2024 and onwards.
Gifted Deposit Mortgages- What you need to know
The genesis of this article stemmed from a case where a client consolidated various funds for a gifted deposit mortgage into one account. Contrary to their expectations, this move created an administrative nightmare and nearly pushed the family to the brink, as the document requirements ballooned with the discovery of additional fund sources. The crux […]
Considering Shared Ownership? Read about the potential pitfalls.
Dr Alison Wallace, senior lecturer in social policy and housing, Centre for Housing Policy, University of York comments to the Levelling Up, Housing and Communities (LUHC) Committee are summarised, highlighting some of the concerns you should consider before buying a shared ownership property, worth reading in full if this is something you were considering: Entry […]
Rightmove’s thoughts on the UK property market into next year
Rightmove have recently released some thoughts on the property market into 2024. Here’s a quick summary of their predictions and data: House buyers delayed purchases due to the mini Budget but are expected to resume in 2024 as asking prices drop by one percent. Rightmove predicts new seller asking prices will decline by the end […]
Can you get a mortgage if you’ve had debt management plans?
This article posted directly by Precise Mortgages outlines their terms for clients who have or have had Debt Management Plans (DMP). In summary: Precise Mortgages offers mortgage products for customers with DMPs. Mortgages are available up to 85% Loan-to-Value (LTV) for those with DMPs. DMPs active for at least 12 months are considered; they don’t […]
BTL Rates cuts ongoing
We are seeing significant and widespread reductions in Buy-To-Let (BTL) mortgage rates across various lenders in the UK during November 2023, indicating a trend towards more affordable and diverse mortgage products in the real estate market.
Blog
Landlords Face Five-Year Deadline for EPC Goals: Exploring Funding Solutions and the Challenges
UK landlords face new EPC rules by 2028, risking £30,000 fines for non-compliance. Funding and lender roles are unclear, impacting both landlords and tenants.
