Buy to let market running out of steam
The CML has today revealed that the UK buy to let market has rebounded strongly from post-credit crunch levels although it would appear to be running out of steam. The number of buy-to-let mortgages agreed increased by 13% in the second quarter of 2010 with around 25,000 confirmed. While these figures are welcomed by investors in the buy to let market they are just around 25% of the business levels seen prior to the credit crunch and the worldwide economic downturn.
There is no doubt that the buy to let market is "over the worst", at least in the short-term, but with many experts predicting difficult times for the UK economy and a difficult period for the property market it will do well to maintain current growth levels. Indeed even the CML believes that there are signs that the sector is easing back although how far it will fall remains to be seen. It is also worth noting that a large number of buy to let investors of years gone by have now left the market, many having been forced to sell on their properties at knockdown prices. The buy to let sector enjoyed something of an Indian summer for much of the first decade of the 2000s although whether these "good times" will return again remains to be seen.
Taylor Wimpey looks elsewhere for additional funding
UK housebuilder Taylor Wimpey today announced that talks with its bankers regarding current banking covenants have been a little disappointing and the group is looking for outside investors to help strengthen the company's balance sheet. The finances of the group are set to take a further hit with a £1.2 billion of write-down expected in the short term.
Chris Rickard, the new finan...
First time buyers compromise to climb the ladder
First time buyers are making compromises in their lifestyle to get onto the property ladder, according to research by Alliance & Leicester Mortgages.Over half (51 per cent) of first time buyers are prepared to sacrifice their social lives to buy a house, citing living close to work as the most important factor when deciding where to buy.Another third (34 per cent) said good transport links would a...Read More
Stamp Duty changes save buyers £4,500
07/12/2015 Anyone who has bought a house or flat in the past 12 months has saved an average of £4,500 thanks to the Stamp Duty changes introduced by Chancellor George Osborne. Stamp Duty, a tax that is paid on every property bought over a certain price, was reformed last December. Research from Halifax has shown that the changes helped many people make large savings, but dampened demand at...Read More
Persimmon Calls For Government Assistance NOW
Persimmon is the latest house builder to call on the government to intervene in the mortgage market as soon as possible after announcing pre-tax profits which were down two thirds on the same period last year. But what can the industry expect from the authorities?
As we have covered on this site over the last few months the UK government seemed to be on the verge of announcing a nu...
Green measures 'to have important bearing on future property prices'
It has been suggested that environmentally-friendly measures made in properties across the UK could have a significant bearing on their price in the future.The Home Builders Federation (HBF) explained that the introduction of energy performance certificates (EPCs) as part of compulsory home information packs (Hips) will mean that the energy efficiency of homes will make them more desirable in the...Read More