Louisa joined the bank last October as deputy managing director of specialist mortgages. Prior to this appointment, she worked as managing director of mortgages at Vida Homeloans. Last November, the lender announced that Louisa would be their representative at the Intermediary Mortgage Lenders Association.
In November, the lender strengthened its Asset Finance division with two new senior hires. Ian Corbett was appointed as head of credit and risk, to lead the underwriting team and Ian Meyer joined as manager of new business operations. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/hampshire-trust-bank-promotes-louisa-sedgwick/ from https://commercialmortgages2.tumblr.com/post/672465938932793344
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The catalyst behind this is the new underwriting standards that were brought in by the PRA in 2017. The lender will be well placed to manage the increasing numbers of borrowers with five-year fixed rates, who now wish to switch to longer terms. The lender also expects the industry to increase offerings that assist customers in purchasing more energy efficient properties and upgrading to improve their EPC rating, before the new rules on EPCs come into force in 2025.
Last month, Paragon reduced rates on selected 75% and 80% LTV five-year fixed rate buy-to-let products. The lender’s green mortgage five-year fixed rate, at 80% LTV, has been reduced from 3.99% to 3.85%. The standard five-year fix at 80% LTV is now down from 4.09% to 3.95%. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/paragon-forecasts-wave-of-btl-remortgaging-activity-in-2022/ from https://commercialmortgages2.tumblr.com/post/672084658512691200 The latest Nationwide House Price Index has revealed that 2021 was the strongest calendar year performance since 2006. Annual house price growth in December was 10.4%, staying in double digits again. The average house price in the UK this year was £254,822, an increase of almost £24,000 over the year and a new record high. In Wales, house prices rose 15.8% year-on-year, making it the region with the highest increase for the first time. In Northern Ireland, house price growth was at 12.1% and England saw the lowest increase at 9.0%. Within England, the South West had the largest increase, seeing house prices rise by 11.5%. London was the only region to have slower growth than in 2020, at 4.2%.
Original article featured here… In October, MT Finance appointed their first non-executive director, Chris Patrick. In his new role, Chris will assist with MT Finance’s growth plans, focusing on funding strategy, ESG initiatives and technology. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/nationwide-house-price-index-shows-rise-in-uk-house-price-growth/ from https://commercialmortgages2.tumblr.com/post/671994039694950400
In response to this, landlords have taken advantage of remortgaging products in order to release equity and purchase more property, often expanding their portfolios earlier than they had planned.
Landbay recently repriced its limited edition range of five-year fixed rate BTL products; four of the five products in the range have been reduced by five basis points and the minimum loan value has been lowered to £200,000. The lender has also introduced a £500 cashback option for the range, which is payable upon completion. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/landbay-reflects-on-the-btl-market-this-year/ from https://commercialmortgages2.tumblr.com/post/671899684904828928
Writing in an article, Sales Director Emma Cox pointed out the difficulties this will bring for those that own older rental properties, as improving their energy efficiency may take considerable work. She also wrote that there has been little in the way of instruction given to landlords by the government in order to assist them with the necessary changes. However, lenders are now offering green mortgages to encourage landlords to make changes. Last month, Shawbrook published data from its Changing Face of Buy to Let Report, showing that landlords are already starting to improve the energy efficiency of their properties. These findings showed that 17% of landlords and 22% of portfolio landlords (those with 4 or more properties), have already taken steps to improve the energy efficiency of their property. This includes replacing boilers, heating systems and windows and also installing new white goods, all of which can positively impact the property’s EPC rating.
Shawbrook recently published its research findings, showing that UK landlords are planning to expand their portfolios in the coming year. 34% of UK landlords plan to purchase at least one additional property and 14% are now looking to purchase more properties than they had originally planned. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/shawbrook-notes-epc-challenges-faced-by-landlords/ from https://commercialmortgages2.tumblr.com/post/671816631001972736 Roma Finance, National sales manager Steve Smith, writing in an article, explained that the lender is well equipped to deal with any more challenges from the pandemic. With staff now able to work remotely where necessary and using technology such as AVMs, video calling and drone footage of development projects, Roma Finance is prepared to face any restrictions that may be put into place to deal with the Omicron variant. November was Roma Finance’s strongest month to date and the lender is confident that the new year will be a successful one with a robust property market.
In October, Roma Finance announced new promotions and appointments; Jack Ainsworth and James Edwards were both promoted to senior underwriter and a new hire has been added to the underwriting team, Farah Akhtar. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-has-positive-outlook-for-2022/ from https://commercialmortgages2.tumblr.com/post/671733591116595200
In the 2022 Savings Champion Awards, the challenger bank was shortlisted in several categories, including Best Business Fixed Rate Bond Provider, and was honoured with the prestigious account provider award again. These are the only national awards that focus entirely on savings, whilst also celebrating those banks and building societies that have promoted competitive rates in the market and taken care of their customers.
Earlier this week, the challenger bank supported its local hospice in Warrington, St Rocco’s, with a generous donation before Christmas. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/redwood-bank-honoured-with-award-for-fourth-year-in-a-row/ from https://commercialmortgages2.tumblr.com/post/671454266665451520
St Rocco’s is fundraising with a ‘renovate a room’ campaign, to make sure that every person who stays at the hospice is as comfortable as possible, in a bright and modern bedroom. The hospice costs £5million per year to run and only has NHS funding to cover a fifth of the total amount. Redwood Bank has kindly provided a donation of £2,000 donation to support the campaign.
At the beginning of December, Redwood Bank appointed Mark Winlow as chairman, to oversee and support the next level of growth. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/redwood-bank-supports-local-hospice-with-campaign-donation/ from https://commercialmortgages2.tumblr.com/post/671386296247320576
At the start of 2021, the lender created a new range specifically for investors and landlords wishing to refurbish properties. Three products make up the range; Refresh for small upgrades, Renew for refurbishment and repairs and Renovate for larger projects. For unregulated residential property, LTVs of up to 75% are available and 100% funding for 6-18 month loan terms. Borrowers in both England and Wales can access rates from 0.69% on residential property loans, up to a maximum of £3m.
Hope Capital recently launched a new fast track bridging product, ‘LOANS Fast Track Bridge‘, which provides facilities up to £750,000. The product is available for properties worth up to £1m, with the maximum LTV at 75% . from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/hope-capital-saw-high-demand-for-bridging-finance-in-2021/ from https://commercialmortgages2.tumblr.com/post/671295718527549440
34% of UK landlords plan to purchase at least one additional property and 14% are now looking to purchase more properties than they had originally planned. Confidence in the market appears to be soaring, with 67% of those surveyed feeling confident about the coming year. Only 13% of landlords are looking to purchase in a new area of the UK, and of those 36% were looking at urban locations whilst 30% were considering rural areas. 23% of landlords who intend to expand their portfolio are planning to purchase additional property in the north of England. Alternative property types are also being considered amidst the current supply issues, with 34% of landlords looking at semi-detached houses as an option and 31% considering terraced houses. Flats also remain a viable option for 27% of landlords.
Earlier this month, Shawbrook made a new hire, Craig McPheat, who has joined the bank as head of experience design. This is part of the bank’s plan to boost its team with at least another 100 new hires by the end of next year, in a variety of roles from developers, cloud and data engineers, product and customer experience designers and technology and data-related roles. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-research-shows-landlords-expansion-plans/ from https://commercialmortgages2.tumblr.com/post/671174923237064704 |
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