In this month’s Hadrian Finance November News we outline the hot topics, the ONS have said the economy is still growing. Tax changes and planning after the budget BTL Rates still low amid Bank base rate rise. We touch on Landlords EPC changes and Alternative Finance – Are you aware of it and how we can help. We hope you enjoy our newsletter!
1.39% Fixed 2yr 60% LTV
1.74% Fixed 3yr 60% LTV
1.79% Fixed 2yr 75% LTV
2.79% Disc. 2yr 75% LTV
3.24% Fixed 2yr 80% LTV
Terry Pritchard, head of originations at Kuflink, has argued that the mainstream press needs to educated on the meaning of peer-to-peer funding to save its future.
Though more than half (51%) of UK SMEs expect to increase income or turnover in 2018-19, according to a new poll by British Business Bank, a third, especially older business owners, are unsure how to grow their business and are unaware of the alternative finance options….
We regularly bring you a column from Simon Read, a personal finance expert with extensive experience in helping people make the most of their money. We’re into a new tax year and you could understandably be forgiven for thinking, ‘so what?’ But there are two things you need to be aware of.
Property News this Month
- Homeowners now move only every 19 years on average. The research talks about social media and DIY, but I think it’s probably more to do with stamp duty, rising prices and the general awfulness of the moving process.
- Tenants’ rental payments may now appear on Experian credit reports. Good for tenants who need to build up their credit history – and also good for landlords, because some tenants will make greater efforts not to miss rent payments if it affects their creditworthiness.
- Northern house prices will rise faster than those in London, according to Savills. The highest growth over the next five years will be 21.6% in the North West, compared to 4.5% in London. Which effectively means London affordability will improve without the need for a crash, and the north/south disparity will be reduced.
- The number of lenders available to limited companies has risen by nearly 50% in the last year. There are now 22 lenders and 628 products to choose from. Knock yourself out!
- Homes will get built more quickly if they’re more varied in terms of size, design and tenure. This is from Oliver Letwin’s review into how to get developers to build sites out faster, and whether they’re land banking. It sounds weird at first, but makes sense once you’ve read the report – and it’s surprisingly readable, if you’re into this kind of thing.
- Goodbye to leasehold houses? The government is consulting on getting rid of them completely. Although I’d like to think it’s a problem that solves itself anyway, as the publicity around them mean developers will find them harder to sell and solicitors will be more diligent (read: scared of being sued) in pointing out the risks to buyers
- Property sales falling through before completion have increased by 5% in the last quarter. This is one thing you probably can link to Brexit without stretching too far, as buyers get nervous that prices will fall and they’ll end up paying too much. (Of course, if you could speed up the conveyancing process there’d be less time for conditions and perceptions to change before the deal gets done.)
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