Vida launches expat buy-to-let mortgage range

By Marc Da Silva

Vida Homeloans has launched a new expat buy-to-let mortgage range aimed at existing UK property owners living overseas who wish to invest in the UK’s private rented sector, with borrowing rates start from 3.89% for a two-year tracker and 3.99% for a two-year fixed rate deal.

According to the lending criteria for the new mortgage range, which has been designed in partnership with buy-to-let brokers and networks working in this specialist sector, expats can borrow up to £1m at a maximum loan-to-value of 75%, with no minimum income requirement or employment restrictions, which means that pensioners can also apply for a loan.

Louisa Sedgwick, director of mortgage sales at Vida Homeloans, said: “We listen to our distribution partners and our new Vida Expat proposition is the latest evidence of our partnership approach to product design. We continue to commit to offer intermediaries innovation and flexibility in securing the best mortgage deal for their client’s needs.”

Vida allows capital raising remortgages for any purpose and will lend on HMOs up to eight bedrooms and Multi Unit Blocks (MUBs) up to five units. Applicants can reside in any country worldwide as long as it is a Financial Action Task Force (FATF) member country.


“We’ve been impressed by Vida’s responsiveness to market demand and this latest product launch certainly gives them some of the most flexible criteria in the expat sector right now,” said Stuart Marshall, managing director of Liquid Expat Mortgages.

https://www.landlordtoday.co.uk/breaking-news/2017/6/vida-launches-expat-buy-to-let-mortgage-range

Leeds BS introduces new buy-to-let tracker with no early repayments charge

By Marc Da Silva

Leeds Building Society has added to its buy-to-let range by launching a new buy-to-let five-year tracker with no early redemption charges.

The 1.65% five year tracker, available for purchase or remortgage at up to 60% loan-to-value (LTV), comes with a free valuation, as well as fees assisted legal services for standard remortgages.

The lender has also cut rates across its range of buy-to-let mortgages at 60% LTV by 0.1%, which includes a remortgage-only five-year fixed rate deal now starting at 2.39%, with free valuation, fees assisted legal services and a £999 fee.

“We’re seeing more customers moving towards longer-term products, with five year deals the most popular,” said Jaedon Green, Leeds Building Society’s director of product and distribution.

He added: “Our five-year tracker comes with no early redemption charges, so the borrower has no penalty charges if they decide to redeem their mortgage within the term, for example if they sell their property.


“This flexibility is useful to landlords, who may be reviewing their portfolios as the new buy-to-let tax legislation eases in.”

https://www.landlordtoday.co.uk/breaking-news/2017/6/leeds-bs-introduces-new-buy-to-let-tracker-with-no-early-repayments-charge

Leaders agent appointed as ARLA’s Midlands board member

By Conor Shilling

A letting agent working for Leaders has been appointed as the new ARLA Propertymark board member for the Midlands.

Duncan Chambers, who is a lettings manager at Leaders Leamington Spa, will take up the post on June 16.

Chambers will represent all ARLA Propertymark members in the Midlands at regular meetings and conferences.

Other key responsibilities include liaising with members and regional reps, being a media spokesperson, acting at board level and reporting on key developments in the Midlands.

“I am thrilled to be appointed as the new ARLA board member for the Midlands and I am incredibly excited about the challenge that lies ahead,” says Chambers.


The agent has been an ARLA Propertymark member for several years and was regional representative for Lincolnshire before moving to the West Midlands.

“In an industry where anybody is free to set up a letting agents business, it is vital that landlords and tenants protect themselves by using only properly qualified agents,” adds Chambers.

In a press statement announcing Chambers’ appointment, his firm Leaders states that it has long called for increased regulation of the lettings industry.

“I would urge everybody to avoid unprofessional agents and work towards driving them out of the industry,” says Chambers.

ARLA was co-founded by Neville Lee OBE, who also set up Leaders in 1983.

https://www.lettingagenttoday.co.uk/breaking-news/2017/6/leaders-agent-appointed-as-arlas-midlands-board-member

'Waitrose effect' can 'boost house prices by thousands of pounds'

By Vicky Shaw
'Having a premium brand on your doorstep means buyers typically need to pay top prices'

House prices will continue rising in 2017 but growth is set to slow to 3 per cent, according to a report PA

The "Waitrose effect" can help add over £36,000 to a property price typically - while living near any national supermarket may boost a home's value by around £22,000 - research suggests.

Lloyds Bank found that homes within easy reach of a local supermarket command a premium of £21,512 on average compared with property prices in nearby areas.


Homes near a Waitrose were found to command the biggest cash premium - costing £36,480 more typically than average house prices in the wider town.

Properties close to a Marks & Spencer have the second highest premium, with homes worth an average of £29,992 more than homes further away, the research found.

Lloyds Bank compared average house prices in postal districts with a supermarket from a national chain with typical property values in the wider towns to calculate the price premium paid for homes located near supermarkets.

The research covered homes across England and Wales.

Properties close to a Marks & Spencer have the second highest premium, with homes worth an average of £29,992 more than homes further away, the research found.

Lloyds Bank compared average house prices in postal districts with a supermarket from a national chain with typical property values in the wider towns to calculate the price premium paid for homes located near supermarkets.

The research covered homes across England and Wales.

The research suggests that properties near an Aldi can be, on average, £2,902 less expensive than those in surrounding areas.

Andy Mason, Lloyds Bank mortgages director, said: "With homes in areas close to major supermarkets commanding a premium of £22,000, the convenience of doing weekly shopping within easy reach may well be a pull for many home buyers looking for good access to local amenities.

"The 'Waitrose effect' is clear; having a premium brand on your doorstep means buyers typically need to pay top prices. But the research also shows that areas with 'budget' stores have, on average, seen the most rapid house price growth in recent years.

"There has been some suggestion that the likes of Lidl and Aldi are increasingly locating in more affluent areas where prices are already relatively high. Indeed, in 2014 house prices in areas with a Lidl were, on average, £4,700 lower than in neighbouring areas; today they are £6,400 higher."

Here is the average house price premium for living near a supermarket, according to the research from Lloyds Bank:

1. Waitrose, £36,480
2. Marks & Spencer, £29,992
3. Sainsbury's, £26,081
4. Iceland, £22,767
5. Tesco, £21,344
6. Co-Op, £20,687
7. Morrisons, £10,504
8. Lidl, £6,416
9. Asda, £4,117
10. Aldi, minus £2,902

http://www.independent.co.uk/property/house-prices-latest-waitrose-effect-sainsburys-marks-and-spencer-uk-property-a7760926.html

Election and Brexit uncertainty delaying tenant moves, says Landbay

By Conor Shilling

The prospect of today's General Election as well as ongoing uncertainty surrounding Britain's exit from the European Union is having a negative effect on tenant demand.

The latest Landbay Rental Index shows that average UK rents grew by 0.02% last month - the slowest pace of growth for over five years.

Figures show that London is leading the slowdown with annual growth in the year to May coming in at -0.94%.

Landbay says that rents in the capital have now fallen for 12 consecutive months thanks to dampened demand and heightened supply.

According to the Index, London was the only UK region to see rents fall in May, but seven out of 12 regions ended the month with a slower rate of growth than seen in April.

Across the rest of the UK, growth in the year to May was 1.62%.


Last month, the best year-on-year and monthly figures were recorded in Scotland at 1.27% and 0.11% respectively.

https://www.lettingagenttoday.co.uk/breaking-news/2017/6/election-and-brexit-uncertainty-delaying-tenant-moves-says-landbay

House prices:the cost of first-time buyer homes is falling, while family homes are seeing the biggest rises

By Lizzie Rivera
A new report reveals home-owners with children under eleven years old are twice as likely to move home as the average person...

http://www.mortgageintroducer.com/wp-content/uploads/2015/12/house-price-increase.jpg

A recent report reveals asking house prices are continuing to rise across the UK, for the fifth consecutive month.

Following annual rises of three per cent, houses are now being listed for sale for a national average of £317,000.

This is less than half the London average of £650,000.


Family homes, classed as three- to four-bedroom terraces or semi-detached homes, are seeing the biggest rises nationwide - up 5.4 per cent on average compared with last year.

The research by Rightmove reveals that home-owners with children under eleven years old are twice as likely to move home as the average person .

"Demand is exceeding supply in many parts of the country and continues to push up the prices of newly-marketed homes. Spring is in the air and home movers are springing up the housing ladder,” says Rightmove director Miles Shipside.

"Those with the greatest motivation to move are often those with growing families, with their need for space or access to schools outweighing uncertainties that might cause others to delay their future housing plans."

Meanwhile, there's some good news for those trying to get on the ladder.

The average first-time buyer home - typically a two-bedroom house or flat, or smaller - is being put up for sale for an average of £193,000, 0.5 per cent less than they were this time last year.

"This is likely to be an influence from the rental sector," says emoov founder Russell Quirk.

"The introduction of an additional three per cent penalty on second homes and the reduction in tax relief in the buy-to-let market has deterred would-be landlords to some extent. The competition is not as fierce in the current market climate."

London's first-time buyers, however, are still seeing prices rise by an average of 0.7 per cent.

"There's less of a negative impact from the buy-to-let withdrawal in the capital," says Shipside. "Plus, London's first-time buyers often have the bank of mum and dad behind them, so sellers are not having to reduce their prices to meet limited first-time buyer funds in the same way as they are in other parts of the country."

http://www.homesandproperty.co.uk/property-news/buying/house-prices-the-cost-of-firsttime-buyer-homes-is-falling-while-family-homes-are-seeing-the-biggest-a110651.html

Interview with one of countries leading producers of luxury micro apartments Martin Skinner of Inspired Asset Managements.

Interview with one of countries leading producers of luxury micro apartments  Martin Skinner of Inspired Asset Managements.

In Part 1  Martin talks about his early years in property . He went onto create a sizeable portfolio in Canary Wharf but which led to bankruptcy during the credit crunch.

In Part Two :  Martin describes the painful comeback and the founding of Inspired Asset Management which now has over £500 million worth of GDV under its management.

To find out more, click here