Foundation announce launch of new large loan BTL product

Foundation Home Loans has announced that it has launched a new product that will be available to both individuals, limited companies and both portfolio and non-portfolio landlords for loans of up to £1.5m. According to the lender, five-year fixed rates start at 2.99% up to 65% LTV, with an interest cover ratio of 125% x pay rate for limited companies and 145% for individuals. Andrew Ferguson, commercial director at Foundation Home Loans, said: “Having listened to our broker network, we have launched a…

Women overtaking men in the property investment world

Property investment can sometimes be considered as a ‘man’s world’. However, new research out today suggests that women are just as likely to get into the lucrative market. A study of over 1,000 people asked the UK population what they have invested in and what they’d consider investing in. Property investment won by a landslide as 40% of people said housing would be their first investment choice, if money was not an issue. It seems that half of those have already done do…

Could the prolonged heatwave increase a risk of subsidence?

As Britain’s longest heatwave in five years continues, Hamilton Fraser, who provide specialist insurance services to the private rented sector, have issued a warning to landlords to ensure they have sufficient buildings insurance, as the shortage of rain puts properties at increased risk of subsidence. In extreme cases, such damage can result in houses being uninhabitable while repairs are being carried out. Subsidence is the downward movement of the ground supporting the building. Typically, claims for subsidence increase over the warmer months as…

New generation of investors attracted by a changing industry landscape

New data and analysis from auction firm, John Pye Property, has found that an increase in the number of affordable properties coming to market and the growing power of the digital property market is giving rise to a new breed of property investors. With research showing that a greater range of appealing properties are available now in comparison to five years ago, increasing numbers of fledgling investors are now getting involved in the market. Richard Reed, head of property at John Pye Property,…

Estate agents warned to switch from Ombudsman Services for redress

Estate agents signed up with Ombudsman Services for redress in the property sector are being reminded by National Trading Standards that OS will no longer be providing redress in that sector after 6th August. The two remaining approved redress schemes after that date will be The Property Ombudsman and the Property Redress Scheme. The National Trading Standards Estate Agency Team (NTSEAT) is urging any estate agent still signed up with Ombudsman Services to switch to one of the other schemes as soon as…

UK tops list of preferred holiday rental locations

New research from Hitachi Personal Finance has revealed that when given the choice of some of the world’s most popular places to own a holiday home, almost one in ten (9%) Brits would choose to own a holiday rental here in the UK. This is despite the fact that the majority (7%) think that holiday rentals in Sydney or Paris would make them the most money. The study asked 1,000 UK adults to choose where they would most like to own a holiday…

FTBs outstrip movers for first time in 23 years

The latest data and analysis from Lloyds Bank has shown that the number of people moving home has dipped in the first half of the year and now account for only 49% of the housing market – the first time homemover numbers have fallen behind first-time buyers since 1995. According to Lloyds, there were 170,000 homemovers in the first half of 2018, down by 1,700 (1%) compared with the same period last year and down by 33,000 (16%) from the second half of 2017.…

A nation of online homebuyers

It may come as no surprise that we are officially a nation of online shoppers; for almost a decade, the UK’s comfort factor in using the internet to research and buy goods and services has put us at the forefront of online shopping. In 2011, an Ofcom report showed that more consumers in the UK used the internet for purchases than any other major country, and recently an EU report stated that 88% of UK shoppers bought goods and services online making us the…

Top tips to fix a leaky tap

New research from Direct Line Home Insurance reveals that for every leaky tap Brits lose on average 25 litres of water, the same as running a dishwasher. In fact, 460 million litres of water is lost through dripping taps each year in the UK alone, enough to fill 184 Olympic-sized swimming pools. According to the research, 35% of Brits have had to deal with a leak in the past 12 months, equating to approximately 18 million adults across the UK and of those, one…