Tag: Octane Capital
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Mortgage Approvals Rose by 7.7% in February
The latest figures from the Bank of England indicate a resurgence in the UK housing market. February witnessed a remarkable 7.7% leap in mortgage approvals, pushing the number to 60,383—a whopping 40% surge from the same period last year. This increase marks the fifth consecutive month of increases, signaling a hopeful return to the vibrancy…
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Landlords Feel the Pinch as Profits Dip Despite Rent Hikes
Recent research has revealed that landlords are taking home less profit from their buy-to-let (BTL) investments, even as they charge more for rent. Over the last two years, the typical return on BTL properties has seen a 6% decrease, a significant dip attributed to a combination of rising mortgage costs, increased charges from agents, and…
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Remortgaging Boosts Activity in the UK Mortgage Market
The UK’s mortgage market is showing signs of life, thanks to a significant boost from homeowners choosing to remortgage. This surge is bringing a much-needed optimism to a sector that’s been craving a comeback, according to the latest findings from Octane Capital. Between October and December 2023, the mortgage market witnessed an encouraging increase in…
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Mortgage Squeeze – First-Time Buyers and Landlords Face Rising Costs in 2024
A new report from Octane Capital sheds light on the financial pressures looming for first-time buyers and landlords alike. With mortgage repayments set to climb significantly in 2024, the dream of homeownership and investment in property could get pricier. For those looking to step onto the property ladder for the first time, the forecast is…
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Mortgage Market Uncertainty – No Promises for Lower Rates Despite Interest Rate Freeze
The CEO of Octane Capital, Jonathan Samuels, has issued a warning: don’t bank on mortgage rates dropping or even staying the same after the Bank of England’s latest decision to keep interest rates on hold. This news has rippled through the mortgage market, challenging the optimism that had been slowly building over the past year.…
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Buy-to-Let Mortgage Rates Drop Below 6%
The most recent statistics from Moneyfactscompare reveal that the average two-year buy-to-let mortgage rate has dropped to 5.98%. Earlier this year, rates were soaring at 7% or more. This is great news for landlords and potential investors, as lower rates mean more affordable borrowing options. The Bank of England has played a significant role by…
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Landlord Mortgage Woes – Buy-to-Let Arrears Skyrocket in Just a Year
A recent analysis by Octane Capital reveals a startling trend: the number of buy-to-let arrears cases has doubled in just a year. This means more landlords are struggling to keep up with their mortgage payments, a worrying sign in the property market. A Closer Look at the Numbers The research examined quarterly arrears cases, focusing…
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Mortgage Rates Cause Drop in Landlord Borrowing
Research conducted by Octane Capital, a specialist property lending firm, highlights a decrease in borrowing among buy-to-let landlords. This trend is directly linked to the increase in mortgage interest rates. In the span of a year, from Q3 2022 to Q2 2023, there was a substantial reduction in borrowing by approximately £7 billion. This decrease,…
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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,…
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London’s HMO Landscape: Dominance and Scarcity
London stands out as the city with the highest number of HMOs in all of England. Specifically, it boasts a staggering 83,900 HMOs, which translates to a whopping 38.7% of England’s total HMO count. This figure attests to the robust nature of the rental market in the capital. But here’s the twist: even with such…