Category: Borrowing & Investing
Can Skilled Worker Visa Holders Get a Mortgage in the UK?
If you’re from overseas and bringing your talents to the UK, you might dream of owning your place, so what’s holding back skilled worker visa holders from buying a home? Having a place to call home is deeply important to most Brits and many skilled foreign workers feel the same way. There seems to be…
LendInvest Mortgages Updates Buy-to-Let Mortgage Options
LendInvest Mortgages is now offering more competitive terms for buy-to-let mortgages. They’ve reduced their rates by as much as 0.15%, with mortgage rates now starting from 3.89%. The company has also raised its maximum loan limit, now offering loans of up to £3 million. Additionally, LendInvest is providing up to 80% loan-to-value (LTV) five-year mortgage…
Navigating Shared Inheritance: What If Multiple Heirs Receive One Property?
Imagine the scenario where you and your five cousins all inherit a castle. A shared inheritance situation isn’t simply about room picks; it involves serious legal, emotional, and practical decision-making. Understanding estate law, compromising skills, and maybe even some property management knowledge will be necessary. Should you all sell, rent, or maintain this inherited property?…
Announcing Sale of Wilmer Place, 50 Armenian Street, Singapore for $26.5M
Wilmer Place, a property under the umbrella of Wilmer and Sons Private Limited, has recently been sold for $26.5 million, reflecting the value for its remaining 22-year tenure. The buyer is Jadeite Properties Pte Ltd, a joint venture equally shared by Coliwoo Holdings Pte. Ltd., part of the LHN Group, and Macritchie Developments Pte. Ltd.,…
Call for Bank of England to Lower Interest Rates Amid Rising Mortgage Costs
There is increasing pressure on the Bank of England to decrease interest rates following recent hikes in mortgage expenses. An assembly of independent economists, known as the shadow committee, has demanded a significant and immediate reduction in interest rates. Yet, the expectation among economists is that the committee will maintain the current rate of 5.25%,…
Mortgage Rates Still Rising
In the past six months, we’ve seen interest rates for savings and loans go up and down. Moneyfactscompare.co.uk has reviewed the average rates for savings and mortgage rates to see how they’ve shifted over time. Since November 2023, the average rate for a two-year fixed mortgage has dropped from 6.29% to 5.91%, and a five-year…
Savills UK is Looking for a Developer for the Historic Daffodil Cinema in Cheltenham
The Daffodil Cinema, crafted by the renowned local architect Leonard William Barnard, exhibits Edwardian Free Style architecture with Baroque Revival flourishes. With seating for 750 patrons, the cinema, originally named the Daffodil Picture House, debuted on October 5, 1922. After its tenure as a movie theatre ended in 1963, the building transitioned into a bingo…
T-Squared Social takes on New Project in St Andrews
T-Squared Social, which enjoys the backing of Justin Timberlake and Tiger Woods and has already successfully launched a venue in Manhattan, is ready to embark on a new development in St Andrews. With a plan to revitalize the traditional cinema, the New Picture House is set to become a bustling social centre in St Andrews.…
Reaction from the Property Industry to the Bank of England’s Interest Rate Decision
The Bank of England has once again decided to keep the interest rate at 5.25%, marking the sixth consecutive time this rate has been upheld. Inflation is currently at 3.2%, which is higher than the Bank’s targeted 2%. The Bank recently revealed its predictions for future inflation and the overall state of the UK economy.…
Top Investment Opportunities in Dubai
Dubai is an exceptional city that has sprouted from the desert and continues to expand at an astonishing rate. The city’s rapid development, characterized by towering skyscrapers, upscale dining venues, hotels, tourist attractions, and opulent properties, offers promising investment opportunities. Dubai stands out as a premier investment location due to its favourable business conditions and…
GetGround Launches £1.5bn Comprehensive Buy-to-Let Investment Service
GetGround, an all-encompassing property investment platform, is now available to all limited company investors in UK property. Initially, GetGround focused on helping clients set up new companies for handling their buy-to-let properties. Expanding its services, GetGround now invites investors and landlords with pre-existing limited companies to integrate them into its platform. This move allows these…
How to maximise Tax Benefits from Deductible Closing Costs on Rental Properties
To ensure you’re getting the most in tax deductions for closing costs on rental properties, remember to include expenses that commonly range from 2% to 5% of the loan amount. These deductible closing costs can be costs such as inspection fees, professional fees, mortgage fees, prepaid amounts, and title company fees. Adding these to your…
For Sale: Retail Spaces and Car Park in Potong Pasir
A portfolio of 11 leased-out restaurant and retail units, including well-known occupants like Springleaf Prata and Ayam Penyet President, are for sale. These units comprise a collective space of 9,537 square feet with individual units ranging from 614 to 3,724 square feet. Additionally, there’s a basement car park spanning 10,775 square feet on offer. The…
Savills UK Advises The Gym Group on its Expansion Plans
A study by PwC has found that there’s room for an additional 600-800 affordable gym locations across the UK. The Gym Group is keen to set up shop in densely populated urban areas where they can be easily seen and reached, either by car or public transport. They’re looking for spaces ranging from 10,000 to…
Fewest Rented Properties in London for New Investors
Finding a rental property in London that already has a tenant can be quite challenging for those interested in buy-to-let investments, a recent study suggests. According to research by Benham and Reeves, only 2% of the properties on the market in London come with tenants already living in them. Meanwhile, the North West leads the…
Inflation Rate Drops to 3.2%
The Consumer Price Index (CPI) inflation rate has declined to 3.2% in March, down from February’s 3.4%, a change that economists find underwhelming. Forecasts by Reuters and the Bank of England had anticipated a decrease in the inflation rate to 3.1%, suggesting that the Bank might need more time before reducing interest rates than was…
Understanding the Support Financial Brokers Provide in Property Investment Funding
When diving into the world of property investment, finding funding can be intimidating. It’s a challenge whether you’re an experienced investor or just starting out. Manoeuvring through the intricate financial world often necessitates the guidance of experts. That’s where financial brokers come in handy, offering essential support in securing investment funds. Financial brokers utilize their…
2024 Mortgage Lending Expected to Surpass TMA Club’s Predictions
A significant majority of TMA Club’s mortgage brokers forecast a rise in mortgage lending this year, beyond what official projections estimated. Last year saw a 28% drop in gross lending to £226 billion, as borrowers had to cut back expenses due to the fast-rising cost of living. From a recent survey by TMA Club, 20%…
Essential First-Time Buyer Mortgage Guide | UK First-Time Buyers
When looking for a first-time buyer mortgage, it’s important to explore the full range of options available on the market. Since a first-time buyer mortgage is typically the largest financial obligation you’ll take on, finding the best deal is vital. By reading this all-encompassing page of advice, tips and tricks from mortgage experts, you’ll learn…
Almost 50% of UK Homebuyers Open to Islamic Mortgage, Says Finance Firm
Close to half of the homebuyers in the UK (45%) are open to the idea of getting a mortgage that adheres to Sharia law, even though there are concerns about Islamophobia in the country. More than a third (37%) of homebuyers in the UK find Sharia-compliant lenders appealing because they avoid putting money into industries…
Mortgage product choice reaches 16 Year high
There was a rise in mortgage product availability this past month, with 6,307 options now available, the highest number of mortgage products available to borrowers since February 2008. The average rate for a two-year fixed mortgage has gone up slightly in the past month to 5.8%, according to a study by Moneyfacts. The Moneyfacts UK…
15 Ways To Fund Your Property Business
Finding the right funding is essential in the property industry, fuelling everything from buying your first property to growing your portfolio. The process of selecting the best funding option can be complex, with each choice offering different benefits, challenges, and criteria. This guide aims to be a detailed resource for investors, outlining the various funding…
UK Rents Expected to Rise Faster Than Wages for Three Years
Rent increases in Britain are projected to exceed wage growth. This comes after UK rents have already increased at an unprecedented rate following the Covid pandemic and as the cost of living continues to rise. The Resolution Foundation predicts that households will face additional financial strain, with average rents potentially surging by 13% over the…
Mortgage Rate Drop
The UK mortgage scene has recently undergone a positive change, bringing good news for those looking to buy homes or invest in property. A competitive battle among key mortgage providers has led to falling mortgage rates, making it easier for people to own a home and bringing a fresh wave of enthusiasm to the property…
Top Tips for Purchasing a Rental Property While Having a Current Mortgage
If you want to buy a rental property but already have a mortgage here are our top tips for the main 2 options available. The first option is to look into mortgage portability for a smooth transition. It’s important to check if you can afford it, understand how it will affect your credit, consider potential…
Doubts Among Mortgage Experts Regarding Yorkshire Building Society’s 99% LTV Mortgage
The new 99% LTV mortgage offering by Yorkshire Building Society, requiring only a £5,000 deposit, has led to scepticism from experts at Mojo Mortgages and uSwitch. This mortgage option allows the purchase of homes up to £500,000 with a 99% loan-to-value ratio. However, the product is not applicable to flats or newly constructed homes. Mojo…
Understanding the Impact of Rising Mortgage Rates on the UK Property Market
Trends Analysed by Tom Bill, Head of UK Residential Research at Knight Frank As the year goes on, individuals transitioning from their two-year fixed-rate mortgage plans from early 2022 might feel less discomfort from higher rates. Last week’s economic figures were unsurprising yet reassuring. Data released on Wednesday indicated a slightly bigger drop in core…
Buy-To-Let Deposit – How much do you Need for a Purchase?
If you’re thinking about purchasing your first rental property, you’re probably considering getting a mortgage. A key question is, how large should your deposit be? You’ll generally need a 25% deposit of the home’s price for a buy-to-let property, but this can vary depending on the lender and your personal situation. For the most accurate…
Clever Lending Secures Business Loan for Client’s Commercial Investment
An accountancy firm working with the broker aimed to expand and required larger office space for its operations. Steve Sanderson of Clever Lending chose to collaborate with Together because they offered a homeowner business loan (HOBL), which was suitable to meet the client’s tight schedule for their expansion. HOBLs serve as valuable financing options for…
Exploring Investment Opportunities in Hartlepool
Hartlepool offers an enticing prospect for investors with its developing economy, affordable cost of living, and impressive rental returns. The cost of properties sits below the national average, with two-bedroom homes around £97.5k. Rental returns can be as high as 7%, suggesting a substantial revenue possibility. The town’s welcoming atmosphere, wide range of amenities, and…
New £5k Deposit Mortgage from Yorkshire Building Society
The Yorkshire Building Society has unveiled a new £5k deposit mortgage option, which carries no fees! This mortgage is available for purchasing homes valued up to £500,000, offering a 99% loan-to-value ratio without relying on government-provided assistance. Buyers will face a fixed interest rate of 5.99% over a five-year period, and they can access this…
Three High-Value Shophouses on Tras Street, Tanjong Pagar, Singapore, For Sale
The Tras Street Collection comprises three beautifully restored 3-storey plus mezzanine commercial buildings at 50, 52, and 74 Tras Street. These properties were modernized in 2020 – 2021 with the latest designs and fittings. All shophouses are fully rented, providing a reliable and solid income. Restaurants are currently operating on the ground level of 50…