Archive for February, 2008
Landlords seeking advice in record numbers
The National Landlords Association (NLA) has revealed it received a record number of calls from landlords seeking advice during 2007.
The NLA Advice Line, offering free advice during business hours to member landlords, received an average of 2,600 calls per month last year on a wide variety of topics. Throughout the year this amounted to over [...]
Recent Rate Cuts Should Ease Affordability Into 2008
While mortgage affordability deteriorated in 2007, the CML expects the two base rate reductions since December will help to ease debt servicing burdens into 2008.
Affordability for first time buyers worsened through 2007. By December first-time buyers typically contributed 20.7% of their income towards mortgage interest, compared with 17.9% in December 2006. The increase in typical [...]
Buy to let mortgage purchases up 5 per cent in January
A mortgage broker has revealed buy-to-let purchase mortgages taken out in January increased by over 5 per cent compared to December 2007. In December 2007 buy to let purchase mortgages were at 39.53 per cent, this increased to 44.54 per cent in January 2008.
The broker’s January best buy mortgage tracker’s figures reveal that the buy [...]
Calls to buy to let industry regulation
The treasury is under renewed pressure to regulate the buy-to-let sector.
Some 88% of lenders responding to a buy-to-let survey by a law firm.
Two-thirds of respondents expect buy-to-let repossessions to rise this year and more than half expect more litigation against brokers who fail to advise clients of the risks involved in the sector.
The survey follows [...]
Landlords enjoy windfall from global storm
Scotland’s buy-to-let market is booming in its biggest cities as a result of the credit crunch and global stock-market volatility, according to experts.
A record number of people have being searching for homes to rent, rather than trying to buy their first property – a sign the current economic uncertainties are affecting the house buying market.
This [...]
