Hadrian April 2019 Finance News
The April edition of the Hadrian Finance Newsletter has been released. The theme this month is Commercial Mortgages. This month’s articles include:
Guide to Commercial Mortgages | New FCA Rules on Mortgage Prisoners | Refurb to Let Bridging Products | Developers Mezzanine Finance Guide and the latest Finance Industry News
Commercial Mortgages: Read Our Handy Guide
Our guide to commercial mortgages for investors and owner occupiers will help you with obtaining finance for your commercial property purchases
Mortgages – New Mortgage Prisoner Rules
The FCA has announced new plans to help mortgage prisoners switch deals by changing how lenders assess whether a customer can afford the new loan.
The regulator announced a package of remedies this morning including new mortgage advice rules.
Mezzanine Finance: Read Our Handy Guide
Mezzanine finance is used to fill the gap between a developer’s equity and the senior debt provided by a bank.
In a typical case, a developer will put up equity of around 10% of cost, the bank will lend around 60% and the mezzanine lender will make up the difference of around 30%.
While separate from the developer’s equity contribution, the mezzanine finance is provided as part of the funds required of
Click the link below to view information and a brief summary of our Mezzanine lending specialists
Asset finance market up by 9% in January
Figures released by the Finance & Leasing Association (FLA) show that asset finance new
business grew by 9% in January by year-on-year comparison.
The plant and machinery finance and IT equipment finance sectors reported…
Refurb To Term Loans: A new way to finance those refurbishment projects
Property News this Month
The Fitness For Human Habitation Act is now in effect, meaning you can be sued by your tenant if the property is unfit. As the article notes though, in practice any half-decent landlord is highly unlikely to have a property bad enough to qualify – and there’s little incentive for tenants to make vexatious claims.
The most expensive local landlord license costs 21 times as much as the cheapest one. The average cost across the UK is £591. I know it doesn’t come across in this newsletter, but I very rarely get angry about anything. Thinking about selective licensing schemes is enough to make me go full Hulk though.
Zoopla is going to ban listings stating “no DSS”. According to the article, 50% of landlords won’t accept tenants on benefits and 20% say so in their adverts. Regardless of whether landlords are right or wrong to refuse all tenants on benefits, surely preventing them from stating so won’t change the reality and will just waste more people’s time?
Owning the average UK home now costs roughly the same as renting it. For the last nine years homeowners have been better off, but the gap has been narrowing. This rather messes up the “greedy landlords mean nobody’s got any money left over after paying their rent” narrative, but it’s still true that renters don’t benefit from leverage and inflation in the same way as owners do.
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