In 1952 around half the population were renting their homes. Compare that to 2011 when 20 percent are living as tenants and you get a sense of how much the housing stock has changed over 60 years and why housing costs matter to people who pay private rent. As we’re talking percentages its worth giving …
The Nationwide Building Society is among a growing number of lenders slashing its interest-only maximum loan to value for residential lending. In March the mainstream lender reduced its maximum LTV for interest only loans from 75% to 50%. Martyn Dyson, head of mortgages at Nationwide, says: “A number of major lenders have recently restricted their …
West One Loans Bridging Finance Index Research from West One Loans, who claim to be the largest privately funded bridging lender in the UK, shows that demand for bridging finance surged to £911m. Here are the mains points from their press release: Gross bridging lending in 2011 was 110% higher than in 2010 The average …
Property developer, Bovis Homes Group have shared some good news in their preliminary results for the year ending 31st December 2011. They report an operating profit of £36m for 2011, an increase of 69% on the previous year. The background makes quite positive reading too. There were 2045 completed home sales, an increase of 8%. …
There is a long standing debate within the residential mortgage market around the viability of interest only mortgages. The Financial Services Authority (FSA) have made no secret of their distrust of lenders who rely on interest only lending. However, some consider that this is a consumer driven product and it is quite likely that most …
Applying for a commercial mortgage is fundamentally the same as applying for a residential one, some of the questions may be a little different, but the answers need to be broadly the same. It will come down to questions about the security you are offering for the loan, your credit rating and how long you …