Virgin Money UK said it has agreed to a takeover by Nationwide Building Society. Under the Nationwide over, Virgin Money UK shareholders to receive 218p per share in cash, as well as 2p dividend from Virgin Money. This bring the total to 220p. The Nationwide takeover...
The Ministry of Justice recently released quarterly national statistics on possession claim actions in county courts by mortgage lenders and social and private landlords, covering the period from October to December 2023. The data indicates a continued trend of growth...
Following the recent Bank of England's second base rate freeze and this week's fall in inflation rates for both the UK (4.6% from 6.7%) and the US (3.2% from 3.7%), the Autumn Statement will provide further clues on whether we can expect the new year to bring with it...
Landlords are paying an extra £5.5bn a year to their banks following a surge in mortgage rates, data shows. Buy-to-let investors are now collectively paying £15bn a year in mortgage interest, a 58pc jump since November 2021 when the Bank of England began raising...
Landlords in the UK are paying 40 per cent more mortgage interest than in August 2022, forcing more of them to quit the sector warns Hamptons lettings agency. In August, mortgaged investors handed over an average of 37 per cent of their rental income in mortgage...
This is Money has run an article on the rise in landlords incorporating. It can be seen here, and says: Landlords are increasingly buying property via limited companies, rather than in their own personal name, in order to slash their tax bills. Three quarters...
Last autumn’s mini-Budget, and its subsequent impact on Swap rates, saw the introduction of staggeringly high product fees on buy-to-let mortgages. One landlord has described the fees as daylight robbery, while another said the fees “border on profiteering, as they...
OSB Group reported profit tumbled in the first-half of 2023, after taking a hit from customers acting more quickly than expected to refinance their mortgages at favourable rates. OSB, which stands for OneSavings Bank, said pretax profit in first-half of 2023 slumped...
The House of Commons Library has published a report on 'Support for Mortgage Interest loans' The full report can be seen here, and in summary says: Support for Mortgage Interest (SMI) is a government loan scheme helping with the interest costs of mortgages and certain...
Beverley Building Society has entered the buy to let market for the first time with two new products.Its variable rate BTL for UK customers is available at 5.64 per cent with a maximum loan-to-value and a completion fee of £995.Meanwhile, for expat BTL customers there...
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Headed, Half (46%) of first-time buyers considering property purchase with friend or sibling, Lloyds Bank has released...
Key Developments: MUFBs for First-Time Landlords: Expansion: Shawbrook Bank now allows first-time landlords to acquire...
Data released earlier by Nationwide showed that house prices returned to growth in May after two months of declines....