Green Mortgages: Financing Sustainable Commercial Properties – A Smart Investment for the Future
Green mortgages are gaining popularity in the commercial real estate sector. These loans offer better terms to property owners who invest in energy-efficient buildings or make eco-friendly upgrades. Lenders now provide over 60 green mortgage products in the UK, up from just four in 2019. This surge reflects growing interest in sustainable finance and environmentally […]
Owner-Occupied Commercial Mortgages: A Complete Guide
Owner-occupied commercial mortgages are loans designed for businesses looking to purchase property for their own use. These mortgages allow companies to buy premises where they can operate, rather than renting or leasing space from others. Lenders typically offer up to 75% of the property’s value, requiring a 25% deposit from the borrower. These loans differ […]
Essential Documents Needed for a Commercial Mortgage Application: A Comprehensive Checklist
Getting a commercial mortgage can be a big step for your business. The process involves gathering important documents to show lenders you’re a good bet. These papers prove your financial health and business plans. To apply for a commercial mortgage, you’ll need to submit details about your business, financial records, and property information. This includes […]
Commercial Mortgage FAQs: What Every Business Owner Should Know Before Applying
Commercial mortgages play a vital role in helping business owners secure properties for their operations or investments. These loans work differently from residential mortgages and have unique requirements. A commercial mortgage is a secured loan that uses a property as collateral, typically requiring a 20-40% deposit and a solid business plan. Many business owners have […]
Unlocking Growth with Business Acquisition Financing: Strategic Capital for Expansion
Business acquisition financing opens doors to new growth opportunities for companies looking to expand. This type of funding allows firms to purchase existing businesses, adding new products, markets, or capabilities. Acquisition financing can fuel rapid growth by letting companies tap into established customer bases and revenue streams. Buying another business can be a smart way […]
Average UK rent tops £1,400 for the first time
A perfect storm of soaring demand and limited supply of homes has pushed rents to unprecedented levels, according to the latest Goodlord Rental Index. Contact us today to speak with a specialist Commercial Mortgages Broker to discuss how we can assist you. The average cost of renting a property in England surged by 7.5% year-on-year, shattering previous records […]
UK housing market poised for buoyant autumn as interest rate cuts loom
The UK housing market is anticipated to experience a buoyant autumn, driven by a potential interest rate cut and enhanced political stability, experts suggest. Contact us today to speak with a specialist Commercial Mortgages Broker to discuss how we can assist you. Lower mortgage rates, resulting from a likely loosening of monetary policy by the Bank of England, […]
Housing market shows signs of recovery
The housing market in England and Wales is showing signs of recovery, according to new data from e.surv. Contact us today to speak with a specialist Commercial Mortgages Broker to discuss how we can assist you. The average sale price of a home climbed nearly £1,500 (0.4%) to £360,175 in June, the strongest performance for almost a year. […]
UK house prices edge higher in sign of stability after downturn
UK HOME prices rose for a second straight month in April, according to official data, suggesting the housing market is stabilising after a dip last year. Contact us today to speak with a specialist Commercial Mortgages Broker to discuss how we can assist you. The average price of a home rose to £281,000 (S$482,970), a 1.1 per cent […]
How Will the UK Election Impact the Property Market?
With the UK general election on the horizon, many are speculating about its potential effects on various sectors, with the property market being a significant area of interest. Historically, elections tend to bring a degree of uncertainty, and this one is no different. Contact us today to speak with a specialist Commercial Mortgages Broker to discuss how we […]
UK’s housing market is now being driven by the over 50s
The UK’s housing market is increasing driven by older, affluent individuals already firmly entrenched in home ownership, in the latest sign that younger generations are being squeezed out. The cost-of-living crisis, skyrocketing interest rates and stubbornly high house prices have made it increasingly hard for younger generations to move up the housing ladder, research from […]
London postcodes remain priciest for property sales
The latest research by London lettings and estate agent, Benham and Reeves shows that the W1K postcode of Westminster sits top of the table as the nation’s priciest so far in 2023. Since the start of the year, the average home sold in the postcode has gone for a staggering £8m. Westminster also accounts for […]
How will the rising Bank of England rate impact the UK property market?
James Quinn, founder of GB Home Surveys, looks at the measures the Bank of England has taken to tame inflation and its effect on the property market. It is undeniable that the last 12 months have been incredibly difficult for families and businesses across the UK. From soaring energy food prices brought by the ongoing […]
House prices: What happens when they fall?
Annual house price growth has slowed, and the latest monthly figures show a fall, according to Nationwide. It follows the Bank of England’s decision to increase interest rates to 3%, meaning higher mortgage costs for many. Further rate rises are expected. What is happening to house prices?In the last two years, prices rose steeply – […]
UK’s 13-year housing market boom to end in 2023, surveyors predict
RICS report says rise in repossessions will add to supply while soaring interest rates price buyers out of market. Homeowners will struggle to make mortgage repayments and repossessions will rise next year as soaring interest rates and falling prices mark the end of the UK’s 13-year housing market boom, according to a sobering report from […]
August’s house sales grew by 7.6% – and a stamp duty cut is mooted
The number of house sales in August was 7.6% higher than in the same month in 2021, HMRC has revealed. The data shows that house sales were also 1.7% higher than in July. The figures are provisional seasonally adjusted estimates of the UK’s residential transactions and in August there were 104,980 properties sold. However, HMRC […]
Housebuilding surges but insufficient housing supply continues to drive up house prices
The number of sites being developed for new homes increased 15% in the second quarter of the year compared to the corresponding period in 2021, the latest data shows. Figures from the Office for National Statistics reveal a sharp rise in housebuilding starts in April to June of this year, with 51,730 homes under construction. […]
Bank of England to suspend market operations for State funeral
The BoE said CHAPS will be closed on 19th September, in line with its normal bank holiday arrangements. CHAPS handled around 174,000 payments each day, in the year to February 2021, with an average payment value of £2.1m. That works out at around £367bn each working day. Contact us today to speak with a specialist Commercial […]
Slow-to-sell property hotspots and the price cuts sellers are taking to attract a buyer
Research by property purchasing specialist, HBB Solutions, reveals that properties which are slow to sell command an average price of up to -17% below England’s overall average house price with the biggest slow-seller markets found in London and the South East. Despite England’s housing market running red hot since 2020, some homes are still lingering […]
Mortgage affordability test scrapped by Bank of England
Mortgage borrowing rules have been eased after the Bank of England scrapped an affordability test. The “stress test” forced lenders to calculate whether potential borrowers would be able to cope if interest rates climbed by up to 3%. Removing the test may help some potential borrowers get loans, such as the self-employed or freelance workers. […]
Halifax introduces a 95% mortgage for new build houses in UK
The UK property market proved to be resilient during the global pandemic and the biggest impact that had been witnessed was a sudden drop in enquiries – during the initial lockdown. It appeared to affect a particular section of the housing market, with a decline in queries from international buyers (unwilling to travel internationally) and […]
Consumer confidence in housing market remains stable
Consumer confidence in the housing market shows little change despite the cost of living crisis, according to OnTheMarket. The property website reports that high levels of buyer and seller sentiment continued unabated in March, with the proportion of active purchasers and vendors confident that they can purchase or sell within three months unchanged from February. […]
Mortgage demand lifts despite spike in living costs: BoE
Demand for secured lending for house purchases lifted in the first quarter of the year and is expected to jump over the next three months, according to a Bank of England report. Banks and building societies reported a net balance of 6 when asked how demand had changed, swinging from -34.8 in the final quarter […]
House prices will continue to rise, says property expert
Demand will outstrip supply as house prices continue to rise, according to a local property expert. Keith Moseley, the owner of X-Press Legal Services Staffordshire and West Midlands, predicts another lively year in the sector. However, he says, it’s not all bad news, with these factors supporting a resilient market, complemented by the continuation of […]
What the End of the Stamp Duty Holiday Means for the Property Market
June 30th marks the end of the Stamp Duty Holiday at the current £500,000 threshold, with it set to stagger back to the normal rates before the final deadline at the end of September. But what will the end of the Stamp Duty Holiday mean for the property market, and when is the best time […]
UK homeowners spend £4,000 on renovations during lockdown
UK homeowners have typically spent just over £4,000 on renovating their properties since the lockdown began in March, the Renovation Nation Report from money.co.uk has revealed. Garden upgrades (34%) top a list for the most popular lockdown renovation projects, closely followed by the living room (23%), bedroom (22%) and kitchen (22%). Almost a quarter (24%) […]
Rightmove: Sellers pause rather than cancel activity
Most sellers already on the market, and those with a sale already agreed, are continuing with their plans to move once it is deemed safe enough, Rightmove’s House Price Index has found. Despite the lockdown total stock for sale has only fallen by 2.6% since the lockdown. Rightmove said there weren’t enough properties coming to […]
House prices treble over last 20 years
The price of a home in the UK has more than trebled since the turn of the century, new research has revealed. The average UK price in 1999 was £91,199 and has now risen to £279,997, representing an increase of over 200 per cent. In Scotland, prices have risen by 173 per cent, from £68,959 […]
Scottish housing market is surviving despite uncertainty – John Kelly
As we await the result of the pre-Christmas general election and what changes this may or may not bring to the position of Scotland in the UK and Europe, it feels like something of a renaissance is afoot. Although the overall level of confidence in the economy remains fragile, the news is not all doom […]
Super prime property market in London seeing resilience in the face of Brexit
Buyers spent a total of £2.06 billion on super prime properties in London in the year to May 2019. This was marginally higher than a figure of £2.05 billion in the previous 12 months, according to super prime sales market insight report for Winter 2019 from international real estate firm Knight Frank. The market for […]
UK homebuyers turned off by ‘characterless’ new-builds
Prospective buyers have been deterred from purchasing new-build homes in the UK because they are “unattractive” and “devoid of character”. Roughly half of homebuyers and property investors believe new-builds are usually unattractive, while 63 per cent consider them to lack distinctive features, according to a new survey. Two-thirds of potential buyers criticised the style of […]
Older People in ‘Under-Occupied’ Homes are Blocking Property Ladder for Younger Generations
Older people are staying in their homes longer and locking younger buyers out of family properties or homeownership all together. Economic uncertainty has depressed buying and selling activity among existing homeowners, Nationwide Building Society said, and potential first time buyers are feeling the consequences. The mortgage lender said homeowners aged 55 to 64 have been […]
Labour proposes major reform of housing market
Land could come under ‘common ownership’, inheritance tax could be abolished and the buy-to-let market could be tightened under housing proposals floated by the Labour party yesterday (June 3). In a paper entitled Land for the Many, written by a group of academics, economists and land experts for the Labour leadership, and published by the Labour […]
Help to Buy sends number of first-time buyers into the 12-year record books
The number of first-time buyers reached a new high last year – with the catalyst being Help to Buy, the scheme that helps purchasers of new-build homes only. According to trade body UK Finance, there were 370,000 new first-time buyer mortgages completed last year, some 1.9% higher than in 2017. This is the highest number […]
What’s happening to rented social housing in England?
Social housing is low cost rented housing and low cost home ownership for people who may not be able to access the private market. It includes council housing and homes provided by housing associations. In this piece we’ll be focusing on rented accommodation available in the social housing sector. Housing is a devolved issue so the […]
Almost one in five houses in Herefordshire bought as second homes or buy-to-lets, figures show
Almost one in five houses bought last year in Herefordshire were purchased as second homes or properties to rent out, figures show. According to HMRC data, second home buyers – including property investors and landlords buying houses to rent out – were undeterred by new taxes on extra properties. A second home is defined by […]
Mortgage lending drops to ‘disappointing level’ as buyer interest falls away
Nationwide this morning reported the biggest monthly drop in house prices since July 2012. The lender said that the average house price is currently standing at £214,745 this month, down 0.5% from £217,010 in July. The fall brought annual house price inflation down to 2%, and Nationwide said it expects house prices to finish this […]
UK house prices have soared 100-fold since 1966, rising three times faster than wages
UK house prices are 106 times higher than they were when England won the World Cup in 1966, according to research from online mortgage broker Trussle. Average house prices have gone up from £2,006 to £211,000, the company found, while wages have risen at around a third of the rate, moving from £798 to £26,500. […]
Letting agents report record numbers of landlords heading for the exit
A record number of landlords are now exiting the market, letting agents say. The ARLA Propertymark Private Rented Sector Report shows that the number of landlords exiting the market rose to five per branch in April, up from four in March, the highest since the data started being recorded in 2015. The figure had risen for […]
Land designated for nearly 100 properties in Largs Glen
LAND has been designated for nearly 100 properties in Largs Glen near Noddleburn Meadow – despite flooding concerns raised by two councillors. The council has earmarked space for 95 houses at the furthest end of Largs Glen beyond the as-yet unbuilt, Phase II at Noddsdale Meadow. Local elected members are divided on the issue, with SNP councillor Alan Hillopposing the […]
Nearly 160,000 homes bought with Help to Buy scheme
Since the Help to Buy: Equity Loan scheme was launched on 1 April 2013, a total of 158,883 properties have been bought with an equity loan up to the end of 2017. The latest government figures show that the total value of these loans was £8.27 billion, with the value of the properties sold under […]
Ranked: Best and worst cities for first-time buyers
London is the worst place in the UK to buy a home for first-time buyers, according to price comparison website Money Super Market’s First Time Buyer Index. The inaugural survey analysed 35 UK cities against key criteria for first-time buyers, including the cost of a one-bedroom property, crime statistics, job opportunities and average salary in […]
House Price Inflation – Government assessment of pressures
The Ministry of Housing, Communities and Local Government has released a short analysis illustrating the individual relationships between some important housing market pressures and house prices. The report is not intended to be exhaustive and has limitations, but uses relationships estimated from the affordability model in the 2007 and 2008 reports by the National Housing […]
Hundreds of empty homes on the Isle of Wight, figures show
Official figures show that hundreds of houses and flats on the Isle of Wight have been standing empty for at least half a year. The charity, Empty Homes Agency, said it was concerned official statistics might underestimate the scale of the problem. Hundreds of houses and flats on the Isle of Wight have been standing […]
Mismatch between housing costs and earnings in Brighton and Hove highlighted by new report
The South East Home Truths 2017-18 report by the National Housing Federation estimates that the average home now costs almost £395,000 in the Brighton and Hove City Council area. This is 14 times the typical local salary, the report said, making home ownership impossible for many. The report also said • The cost of renting privately […]
Social housing stock has fallen over the last 30 years
The size of the social housing sector has been decreasing over time. The proportion of the population living in social housing in Great Britain halved between the early 1980s and early 2010s, according to the Institute for Fiscal Studies. The IFS puts this down to two key developments: the introduction of Right to Buy in 1980, which […]
The average first-time buyer is now seven years older than in 1960
The average first-time buyer is now seven years older than in 1960 and needs to save around £20,000 to be able to buy a home, a study has found. Researchers who polled 2,000 adults found a huge difference in the profile of someone buying their first home through the generations. Today, first-time buyers will be […]
£1m properties increasing faster in Scotland than rest of UK
The number of houses in Scotland worth at least £1 million is increasing nearly twice as fast as the UK average, according to new research which shows thousands more Scots have become so-called ‘property millionaires’ over the past 18 months. There are now more than 11,000 homes across the nation valued at least £1m, an […]
Complaints drop ‘significantly’ following ban on ‘To Let’ signs in the Dales
Complaints from residents living the Dales area of Liverpool have “reduced significantly” following the introduction of a ban on ‘To Let’ signs according to a new report. Liverpool City Council first introduced a ban on visible advertising for rental properties in 2015 amid worries the boards were having a negative impact on the sustainability of […]
UK house price growth to slow dramatically in 2018, say experts
House price growth looks set to judder to a halt in 2018 or at best manage a small below-inflation rise, as the twin spectres of Brexit and rising interest rates put the brakes on the property market. Following what some have called a lacklustre year, homeowners and those looking to sell in the coming months have been […]