News & Insights - Buy to let

Homeowners who have taken mortgage payment holidays to help them weather the financial impact of coronavirus may be able to extend their breaks by three months, the Financial Conduct Authority (FCA) has confirmed.

Recent weeks have proved a rollercoaster ride for the mortgage market, with several lenders withdrawing products and then expanding their ranges.

More than 1.2m homeowners have been offered mortgage payment holidays by their lenders to help them weather the financial impact of coronavirus.

Home-movers are being advised by the Government to put their plans on hold wherever possible whilst measures are in place to fight coronavirus.

The Bank of England cut the base rate again on Thursday to just 0.1%, its lowest ever level, in a bid to support the economy during the coronavirus crisis.

Although much of this week’s Budget speech focused on measures to protect people and businesses from the economic impact of the coronavirus, there were several announcements on property.

The Bank of England slashed the base rate by half a percentage point to just 0.25% on Wednesday to help shore up the economy during the coronavirus outbreak.

Growing numbers of property investors are looking to buy holiday homes to let out in the UK in response to increasing demand for UK holidays.

After all that festive spending, the New Year is the ideal time to review your finances and look at ways you might be able to save money in 2020.

Political and economic uncertainty may have dominated 2019, but homeowners and buyers have continued to benefit from rock-bottom mortgage rates.

Ongoing political and economic uncertainty has failed to deter first-time buyers, with growing numbers managing to get on to the property ladder.

The number of landlords buying properties to rent out is on the up, according to latest data from trade body UK Finance.

First-time buyer and homemover mortgage numbers dropped slightly in June, with many people putting their plans on hold due to current political and economic uncertainty.

Buy-to-let landlords are benefiting from cheaper mortgage rates and a wider choice of deals as lenders compete for their business.

The financial press took a look at the pros and cons of longer mortgage terms this weekend, following research produced by Santander that suggested almost half of buyers would consider taking a mortgage over a period of 40 years.

This weekend’s financial press highlighted the variety of new products coming on to the market, as lenders look for new and interesting ways to attract borrowers.

There are just a few weeks to go before the new 2019-20 tax year begins on 6th April, when landlords will see further reductions in the amount of tax relief they can claim.

Political and economic uncertainty has failed to dent first-time buyers’ enthusiasm, latest UK Finance figures show, with numbers reaching a 12-year high in 2018.

Landlords racing to beat the self-assessment deadline on 31st January must for the first time factor in cuts to mortgage interest rate relief when completing their tax returns.

Your mortgage is likely to be your biggest monthly outgoing, so it’s a great place to start if you’re looking to cut costs. Here’s our rundown of some of the mortgage resolutions you might want to consider making.

Landlords who are concerned about higher mortgage costs if interest rates rise have a wider range of fixed rate options to choose from following the launch of a new range of 10-year fixes.

Landlords should be incentivised to sell to tenants at a discount under a new scheme proposed by conservative think-tank the Centre for Policy Studies.

First-time buyer numbers in August reached their highest level since June last year, with a total of 35,500 mortgages completed.

The Chancellor Philip Hammond will unveil his Autumn Budget on October 29th, with many speculating that he could announce a range of measures affecting the property market.

The Guardian highlighted further changes for landlords this week, as new rules for ‘Houses in Multiple Occupation’ (HMO’s) come into force.