All the latest news about property funding in the UK. Bringing updates about commercial mortgages, buy to let mortgages and property development finance; mostly directly sourced from the industry press.
A property developer has won a High Court case against property investors forcing one to pay £133,000 after they backed out of an agreement to purchase flats “off plan”. The High Court, in Bristol, has ordered the person to pay a whopping £133,282 in damages, costs and interest to Plymouth’s Prestige Homes South West Ltd, …
We thought that Mezzanine finance in the property industry had all but disappeared. Two or Three years ago there were plenty of options with Mezzanine finance with lenders keen compete with each other. Coupled with increasingly aggressive funding terms at ever lower margins,and senior debts pushing past 90% of the value there was not much …
85% Buy to Let Mortgages are back! A new BTL mortgage has been released which is apparently taking the market by storm. This product is ideal for investors buying property below market value as the lender will consider loans of 70% of the open market value to 85% of the purchase price! For Example: Purchase …
The FSA has today launched a discussion paper on consumer responsibility and said that it wants to explore what steps it or others could take to help consumers understand and protect their own best interests more effectively. The protection of consumers is one of the FSA’s four statutory objectives and the discussion paper aims to …
There are increasing signs of improvement in the property market, but does this mean that property developers will be able to get 100% funding again any time soon? Well, think back a few years and you will recall that relatively inexperienced developers were able to make good money just by purchasing a property and hanging …
Anyone who has a Commercial Mortgage will (or should) be familiar with LIBOR. So they should also be quite pleased that LIBOR has reached a record low. LIBOR is the rate which determines the cost of most commercial mortgages and many other forms of borrowing. The rate coming down may bring good news in that …