Reduced Interest rates now starting from 0.74%
According to research by Legal and General Mortgage Club, 80% of brokers are expanding their business by adding extra income streams.
Some lending areas such as buy-to-let and mortgages for first-time homebuyers have slowed. The demand for bridging loans, on the other hand, has grown.
Many mortgage brokers want to expand by offering (more…)
A recent roadshow for brokers found that some of the broker delegates were not aware that borrowers could get very low-interest rates on bridging finance.
There is fierce competition amongst bridging lenders and this has led some of them to cut interest rates to as low as 0.44% per month. According to Jo Breeden, managing director of Crystal Finance: (more…)
Some small bridging finance lenders are applying for banking licences and this could slow down the bridging loan application process. To be able to lend money, bridging lenders need to…
New rules for houses of multiple occupancy (HMO) come into effect in October 2018. Currently, houses of three or more stories high and occupied by five or more people from more than one household are covered by HMO regulations. The new rules will cover houses of any height that are occupied by five or more people, not from a single household. This will mean that many more houses will be classified as HMOs.
Most HMO property will need to be licensed by the local authority, which will insist on safety measures such as (more…)
Many buy to let landlords have formed limited companies to purchase property to save tax. Some are using bridging finance as they are finding it takes a long time to secure commercial mortgages.
The commercial mortgage application process for newly formed limited companies can take several weeks for lenders to assess the financial viability of (more…)
Over the last year or two, many new bridging lenders have entered the market, but there could be a shortage of experienced professionals to work for these lenders. According to…
In the first quarter of 2018, 38.8% of house sales failed to reach completion. This is up from 34.9% during the first three months of 2017, and the highest house sale failure rate in (more…)
Property auctions are a popular way of purchasing both commercial and residential property. Bidders hope to purchase property at below market prices. For people new to the scene there are…
Some lenders have reduced their interest rates on short-term and bridging loans. This is mainly because of increased competition between lenders. In the past few months, there have been many new financial organisations entering the short-term loan market. High street banks also want to increase their share of the bridging loan market.
Rates of 0.75% a month are possible for loans to purchase (more…)
Research and Development (R&D) tax credits are a government scheme that rewards UK businesses that invest in developing new processes, products or services.
The average R&D tax credit is (more…)
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