Neil Patterson

Building Societies are winning the mortgage rate war

Building Societies are winning the mortgage rate war...

Building Societies are offering substantially cheaper main residence mortgage rates compared to high street banks. Moneyfacts data analysis shows the average 5 year fixed rate at maximum 75% Loan to Value...

PRA rules see falling number of BTL products in January

PRA rules see falling number of BTL products in January...

This month the total number of Buy to Let products available using Moneyfacts data has fallen to 1,408 down from 1,482. This is not statistically a huge percentage, but is a significant change in direction...

Six Chinese factories to pump out 25,000 prefab homes a year for UK housing market

Six Chinese factories to pump out 25,000 prefab homes a year...

China National Building Material Company (CNBM) is to use it’s industrial power in a £2.75bn joint venture with UK housing association, Your Housing Group (YHG) based in Warrington and renewable...

Nigel Lawson tells Hammond to cut stamp duty to raise more tax

Nigel Lawson tells Hammond to cut stamp duty to raise more tax...

The Daily Telegraph has launched a campaign calling on Mr Hammond to address the issue of stamp duty in next week’s Autumn Statement. Click Here In an article for the Telegraph today, Lord Lawson...

BTL – How much can you borrow Pre and Post 1st of Jan (now is the time to act)

BTL – How much can you borrow Pre and Post 1st of Jan (now...

I have had lots of people ask how the calculation works for the amount you can borrow after the new rules come into force next year regarding Buy to Let affordability testing. To make it simple as a follow...

Now is the time to act if you are considering a BTL remortgage or purchase

Now is the time to act if you are considering a BTL remortgage...

The Prudential Regulation Authority (PRA) Consultation on landlord ‘affordability’ management is being implemented as guidance to lenders from the 1st of January. The PRA are requiring Buy to Let lenders...

No age limit property finance on Keystone Ltd Co and Joint applications

No age limit property finance on Keystone Ltd Co and Joint applications...

“The aim of accepting landlords over the age of 85 years within a joint mortgage application will allow many of our older borrowers to continue to leverage their portfolios”, said David Whittaker...

Property118 Stats – OMG!

Property118 Stats – OMG!

Our target for this year of 5 million page views seemed very ambitious when we first set it. However, we have smashed through it already and our stats over the last week are higher than ever. Is this...

Don’t get stuck in the wrong development loan

Don’t get stuck in the wrong development loan...

This year we have seen an increase in the number of readers, who are also developers, asking for help to repay commercial development finance on recently completed properties. Then looking to replace the...

PRA confirm new increased BTL stress testing and underwriting standards

PRA confirm new increased BTL stress testing and underwriting...

The Prudential Regulation Authority (PRA) have now confirmed to lenders what they expect the minimum standards of Buy to Let underwriting to be. These standards will have to be in place by 1st January...

Bank of England chief economist says property better than pensions?

Bank of England chief economist says property better than pensions?

In an interview with The Times the Bank of England chief economist, Andy Haldane, said property was “almost certainly” a better investment for retirement and he could not make “the remotest...

Stamp Duty attack on Landlords now hits First Time Buyers

Stamp Duty attack on Landlords now hits First Time Buyers...

The ‘Step Up’ mortgage product offered by the Coventry Building Society has been withdrawn, because borrowers may be hit by the 3% Stamp Duty surcharge on second homes. The Step Up product...

The Housing Market – Bank of England Inflation Report

The Housing Market – Bank of England Inflation Report...

From the May Inflation Report, the planned 3% surcharge on stamp duty for second homes in April caused some housing transactions to be brought forward. Therefore the sharp fall in property purchase completions...

Bank Base Rate cut to 0.25% and QE scheme increased by £60 Billion

Bank Base Rate cut to 0.25% and QE scheme increased by £60 Billion...

The Bank of England has today announced its first rate cut since March 2009 bringing the rate to all all time record low since the bank was founded in 1694 from 0.5% to 0.25%. The Bank has also announced...

The Resolution Foundation reports home ownership lowest for 30 years

The Resolution Foundation reports home ownership lowest for 30...

The Think Tank, Resolution Foundation, has reported home ownership is now at a 30 year low. Using data from the Office for National Statistics Labour Force Survey (LFS) the Resolution Foundation is reporting...

House of Lords Report “We must tackle the housing crisis”

House of Lords Report “We must tackle the housing crisis”...

The House of Lords Economic Affairs Committee has today released a report titled “Building more homes.” The report strongly recommends that the housing crisis must be tackled and that the Government...

Bank of England keeps base rate at 0.5%

Bank of England keeps base rate at 0.5%...

The Bank of England Monetary Policy Committee voted 8 to 1 to keep Base Rate at 0.5%. This was as suggested that they would wait until the August economic figures come through before making a decision.

Massive increase in Buy to Let through Limited Companies

Massive increase in Buy to Let through Limited Companies...

With the impending new tax rules coming into force next year restricting mortgage interest tax relief for landlords with properties in their personal names there has unsurprisingly been a massive percentage...

Bank of England frees up £150Billion in loans to households and businesses

Bank of England frees up £150Billion in loans to households...

The Financial Policy Committee (FPC) has just published its latest Financial Stability Report. In a speech given by Mark Carney, the Governor of the Bank of England, it was confirmed there is evidence...

Mark Carney hints at possible MPC decision to reduce Bank Base Rate

Mark Carney hints at possible MPC decision to reduce Bank Base...

In a speech this afternoon at the Bank of England, Governor Mark Carney, confirmed that the Monetary Policy Commitee (MPC) may need to consider all monetary policy easing tools at its disposal following...

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Monday 7th February 2011

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