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October, 2011
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Mortgage
Demand for Buy-To-Let Mortgages Booming says Bank of England
10/23/2011 4:22:28 PM

Demand for buy-to-let mortgages has increased significantly in recent months as landlords rush to cash in on the continuing boom in rental prices, according to the Bank of England. The scramble to purchase rental properties is even leading would-be buyers to put in sealed bids in some areas of the south-east.


In its latest Trends in Lending Report the Bank said most major UK lenders reported demand for buy-to-let lending continuing to increase over the summer, reflecting rising rental yields.


 


 

WebLetz one of Cardiff’s leading Lettings Agents provides cost effective landlord solutions in Cardiff and across South Wales.

 

As a leading Cardiff Lettings Agent our aim is to proactively find your next tenant in the shortest possible time looking to cut void periods and maximise your rental income on your buy to let property investment.

WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time

 We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Lisvane, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays
Brokers report rise in Buy To Let business in Q3
10/17/2011 11:35:42 AM

Buy-to-let mortgages accounted for the highest proportion of brokers’ business in Q3 since Paragon Mortgages started recording the data at the beginning of 2007, research from the lender has revealed.

Buy-to-let deals accounted for 24.3% of mortgages processed by intermediaries in Q3, up from 20% in Q2.


Residential owner-occupier mortgages accounted for 66.6% of intermediary business, down from 72.2% in the previous quarter.

The survey also reveals that 43% of brokers reported an increase in buy-to-let business levels, compared to 7% who said business levels fell.

On average, intermediaries saw a 3.1% rise in buy-to-let business in Q3.

In addition, 58% of respondents said the availability of buy-to-let finance improved in Q3, while 31% said it stayed the same.

John Heron, managing director at Paragon, says: “It is positive to see that buy-to-let accounted for a growing percentage of intermediaries’ overall business levels during Q3.

“Given the pressures on the private rented sector, it is important that landlords continue to be active purchasers and develop their portfolios.”

He adds that there are plenty of opportunities for brokers to further develop their buy-to-let business, but argues more needs to be done to deliver products and advice to large-scale landlords.

WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time
 
 
We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Lisvane, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays
Buy to let mortgage products in the UK rise by a quarter
10/12/2011 8:19:49 PM

The total number of buy to let mortgages on the UK market has risen for the third quarter in a row and is now 26% higher than in the second quarter, according to broker Mortgages for Business.


The total average number of buy to let mortgage products currently on the market stands at 508 compared to 403 in the previous quarter. There was one new entrant to the lending market over the last three months taking the total number of BTL lenders to 23.

 

 The rise in products and lenders is a result of the race to keep up with the demand from buy to let investors as property prices wane and rental demand grows. Despite growth in the number of owner occupier mortgages and loans suitable for first time buyers, demand for rental property continues to push rents higher and drives the growth of average yields.

 

Complex buy to let deals continue to provide the best yields for professional investors. However, new products introduced over the last quarter aimed at investors looking to purchase smaller Houses in Multiple Occupation (HMO) have caused yields for this type of property to fall slightly.

 

The average yield for HMOs is now 9.3%, down from 10% in the second quarter. These new products have also caused average LTVs for HMOs to rise to 66% from 60% and average loan sizes to fall from £321,836 in the second quarter to £292,969 now.

 


 
WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time

 
 

We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays
Student Housing Valuable Asset Class
10/11/2011 7:37:37 PM

With the new academic year under way buy to let investors mortgage are looking at student accommodation for a sound return.


 Knight Frank head of residential research Liam Bailey said this real estate "has been classed as being quite an attractive option for a lot of investors".

If you are looking to invest in the student buy to let market then look to cities which are home to "bigger, higher profile universities". Look to cities such as Oxford, Cambridge, Manchester, London and Cardiff.

He explained this is because of an undersupply of properties and a "huge demand" caused by people from overseas trying to find a place to stay.

The educational institutions seeing the highest rises in student numbers should be sought after, Mr Bailey declared.

His comments echo a report from Savills, which asserted the asset class of student housing is becoming increasingly polarised.

Developers and investors were advised by director of research at the firm Yolande Barnes to look at the market and academic prospects at "a highly localised level" to determine a site's long-term viability.

 

WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time

 We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays

Post Office Slashes Mortgage Rates
10/6/2011 9:19:06 PM

Competition in the mortgage market intensified today after the Post Office slashed rates on a range of "first-time buyer friendly" products.

The biggest cut is on a three-year fixed-rate deal requiring a 10% deposit, with the lender's interest rate dropping from 5.99% to 4.75%.

It is withdrawing from the buy-to-let market for the time being so it can focus efforts on first-time buyer, movers and remortgage customers.

Read the full article in the Independant


WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:

·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time


WebLetz a Cardiff Letting Agent has tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen,Lisvane, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays




 






 

Kensington pulls 85% BTL and 90% residential deals
10/6/2011 9:15:29 PM

Kensington is pulling its 85% LTV buy-to-let deals and its 90% LTV residential mortgages tonight.

A spokesman for Kensington, says: “Kensington had a record breaking month in August, lending more than in any other month since our return to the intermediary mortgage market in 2009 and continuing the strong growth we have seen in 2011.

“As a consequence, we are nearing the end of current tranches on certain products and, in order to maintain consistency of service for our intermediaries, we are temporarily withdrawingthese products from our range.

“We are already working on new products with great rates and criteria that we expect to launch shortly.”

Kensington increased its LTV to 85% from 75% in February and launched its 90% LTV deals in May.

It will still offer 80% LTV on its buy-to-let deals and 85% LTV on its residential range.

WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk  or by telephone 0845 496 0000.
 Why not visit Cardiff Letting Agent  to register for our FREE guides:
Reduce Void Periods and Receive Rent on Time



We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen,Lisvane, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays




 






 

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