Accord Mortgages, the buy-to-let brand of Yorkshire Building Society, is one such lender to do so, while NatWest similarly eased its rules earlier this year. Previously it was standard practice for buy-to-let applicants to require a minimum income of £25,000. Bank of Ireland, BM Solutions, Coventry Building Society and Foundation Home Loans are other lenders that don’t have minimum income requirements. Chris Sykes, of mortgage broker Private Finance, said: “It is a welcome change for many. Those who treat buy-to-lets as their pension wouldn’t qualify for finance through Accord previously, but would now.” Accord is also encouraging first-time landlords to apply, saying they should contact their business development manag... Read More
The Mortgage Works (TMW) has resumed lending to 80% LTV on its buy-to-let, let to buy, large portfolio and limited company range of mortgages. The mortgages are only available on properties with an EPC rating of at least C, as the lender looks ahead at a potential regulatory change which could make a C rating a minimum requirement for all tenancies by 2028. The lender is offering a 2-year fix at 2.49% and a 5-year fix at 2.99%, both with a 2% fee. For limited company landlords meanwhile 2-year fixes cost 2.79% and 5-year fixes 3.49%, with a 2% product fee. TMW had halted 80% LTV lending in the height of the pandemic. head of The Mortgage Works, said: “The Mortgage Works is one of the UK’s largest buy to let lenders and we... Read More
A significant increase in residential property prices has been forecast by Reallymoving as demand rom buyers continues to heavily outweigh supply. The comparison site predicts the UK housing market will remain buoyant with prices set to increase by an average of 2.9% in June and 3,7%, when compared with the corresponding period last year. Despite warnings from agents and surveyors of limited new supply, activity remains exceptionally stron... Read More
From April 26 Nationwide’s Helping Hand product allows first timers the option of borrowing up to 5.5 times their income when taking a five or 10-year fixed rate mortgage up to 90 per cent Loan To Value – the most currently offered by any major high street lender.   More info at Read More

Agency fees the biggest factor when choosing an agent

April 13, 2021 Tags: Agency, factor
Price unsurprisingly remains an important factor for many buy-to-let landlords when it comes to choosing a letting agent. Letting agent fees, of which 44% of landlords stated is their biggest expense, is the biggest factor when choosing an agent, according to new research by Rentround. More info at Read More

PBSA news roundup

April 11, 2021
PBSA roundup – new Leeds scheme, £133m tie-up and hottest towns revealed More info at Read More
London lettings and estate agency Benham and Reeves has calculated a league table of the most popular postcodes in the capital for investors and owner occupier buyers in the past year of the pandemic. Checking all residential property transactions since the first lockdown in March 2020, the agency says there’s been just shy of 50,000 sales completed across the capital at an average £487,500. More info... Read More