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.
Mixed Signs In The Property Market
After months of complete mayhem in the financial markets it seems that some kind of liquidity may be returning to the sector. HBoS has announced that they found investors to take up their recent £500 million mortgage bond issue Ã¢â‚¬" something which would have been unheard of only a couple of weeks ago. The bond issue is linked to residential mortgages and many experts are seeing this...Read More
Glasgow shopping centre in distressed property sale
The Silverburn shopping Centre in Glasgow is up for sale in one of the most startling distressed property sales in the UK today. While we await official confirmation of the sale price and those interested in the property there are rumours that Bank of Scotland has effectively pulled the plug on the operation and decided to cut its losses. Bank of Scotland, part of the HBOS group, supplied the debt...Read More
False boost to the UK property market revealed
It has been revealed that the number of first-time buyers in the UK hit a two year high last December amid the impending repeal of the stamp duty concession which gave buyers the chance to save up to £1,750 on a purchase. Lenders have revealed that nearly 25,000 mortgages were approved for first-time buyers in December 2009 which was 26% up on November. While these figures may be slightly boosted...Read More
Young people forced to rent
Although renting can sometimes be a lifestyle choice, many young people have no choice but to rent due to over-inflated house prices, claims Scottish Widows.And although some financial services are now offering specialist mortgages for graduates, the latest interest rate hike will not tempt many to take out a mortgage, for fear of being unable to make repayments. Communications manager for Scotti...Read More
Why does the Land Registry property report differ from others?
As the Land Registry property report for May shows a further 0.2% reduction in UK property prices, against a 2.6% increase and a 1.2% increase as suggested by Halifax and Nationwide reports respectively, many people are totally confused as to what they should and should not take into account. So why does the Land Registry report always seem more negative than the likes of reports by Halifax and Na...Read More