Latest News
-
Getting a Bridging Loan: A Strategy for Success
In the ever-evolving property investment market, securing a bridging loan has become harder recently. This guide is tailored to demystify the process and enhance your chances of securing the funding you need. Understanding the Role of a BDM Your journey to a successful bridging loan begins with a strong alliance with your lender’s BDM (Business…
-
Fewer Bridging Loan Applications are Successful: What’s Going Wrong?
Recent data has highlighted a shift in the bridging loan market, with conversion rates—the percentage of loan applications that result in successful funding—experiencing a dip. Data from the Association of Short-Term Lenders (ASTL) shows a decrease in bridging loan conversions from 16% in the second quarter (Q2) of 2022 to 14.10% in Q2 of 2023,…
-
Housing Market – £100 Billion Sold Despite Downturn
In a market that many anticipated would falter, the UK’s housing sector has shown a remarkable robustness, with transactions reaching nearly £100 billion in the face of less-than-ideal conditions. From January to August, 276,785 homes were sold across England and Wales. The collective value of these homes is an impressive £99.329 billion. The Regional Breakdown…
-
35% Rise in Landlords Going Bankrupt
The UK property market is witnessing a significant rise in insolvencies among property businesses, with landlords particularly hard-hit. According to a recent analysis by Mazars, an audit, tax, and advisory firm, there has been a 16% surge in the number of property firms facing bankruptcy in the last year alone. The Rise in Property Business…
-
Why Many Self-Employed Don’t Apply for Mortgages
Recent findings from TML suggest a startling trend: more than one-third of self-employed individuals have never attempted to apply for a mortgage, primarily due to the fear of rejection. This apprehension is not unfounded—30% believe that their employment status would automatically disqualify them, while 26% are informed of the heightened difficulties that self-employed individuals face…
-
Persimmon’s Strategic Staff Reduction
The UK housing market is experiencing a notable slowdown, which has prompted Persimmon, a leading housebuilding company, to take decisive measures to sustain its financial health. Persimmon has announced a significant reduction in its workforce, with around 700 positions expected to be eliminated throughout the year. This decision aligns with a stringent recruitment freeze, signaling…
-
UK Housing Market: Experts See A Glimmer of Hope?
The UK housing market, after months of downturn, is showing signs of a tentative recovery. Data from Halifax indicates an increase in residential property prices in October, the first rise witnessed in half a year. However, amidst this hopeful news, experts predict a potential decline in values over the coming year. A Surprising Uptick in…
-
Optimism Rises Among First-Time Homebuyers in the UK
According to recent research commissioned by HSBC UK, first-time buyers are gaining confidence in their quest to find a property, with many believing that the dream of holding the keys to their own home is within closer reach than it was just a few months ago. A Surge in Buyer Confidence The study indicates a…
-
UK Housing Market Sees Light at the End of the Tunnel, Savills Reports
The UK housing market has been through a whirlwind of changes and challenges over the past few years. However, according to Savills, a leading estate agency, there is a glimmer of hope on the horizon for homebuyers and investors. A Glimpse into the Future: Savills’ Five-Year Outlook Savills has shared its five-year outlook for the…
-
King’s Speech Highlights Leasehold Reform Bill
The landscape of property ownership in the UK may be on the brink of significant transformation with the government’s announcement of the Leasehold and Freehold Reform Bill. This legislation, which was highlighted in the King’s Speech, aims to make owning a home more accessible and less burdensome for millions. Let’s look at what this bill…