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Change in lifestyles brings buy-to-let boom

Sun Bank is predicting a boom in the buy-to-let market after revealing a

67 per cent increase in applications for the first six months of 2001 over

the same period last year.

The lender believes the buoyant property market and lifestyle changes are

behind the increase.

It also cites tax changes which have resulted in limited companies buying

more rental properties. The move introduced in the 1999 Budget makes it

beneficial for landlords to set up limited companies through which they can

buy additional properties.

Sun Bank says it is seeing an increase in repeat lending to borrowers

building up a portfolio of property.

There has also been an increase in the number of expatriates using buy to

let to give them a home to which they can return at a later date.

Sun Bank believes interest rates will remain low in the medium to long

term, meaning the cost of borrowing will remain cheap.

Marketing director Chris Cummings says: “The property market remains

buoyant. It is attracting people into the buy-to-let sector who see it as a

great way of investing for the future. It is very acceptable to rent,

especially in light of job mobility and flexible working patterns. These

days few people live in Coronation Street communities with relatives all



Scot Wids wins engineering association stakeholder work

The windfall shares test case to decide whether demutualisation shares and benefits should be taken into account when calculating loss in the pensions review is being heard next week. The &#39Needler Financial Services Limited v Taber&#39 case is expected to start on 16 July for three days at the High Court at the Royal Courts […]

L&G named ABI life insurer of the year

Legal & General was named Life Insurer of the Year at the British Insurance Awards for the third time in four years.According to the judges Legal & General won the award for setting out its stall to succeed in tomorrow&#39s market while still leading in today&#39s.The company was commended for being highly responsive to changes […]

Forsyth Partners – Forsyth Sterling Global Growth Fund

Friday, 13 July 2001.Type: Sicav.Aim: Growth by investing in equities and bonds.Minimum investment: £5,000.Place of registration: Dublin.Investment split: UK equities 60 per cent, international 25 per cent, bonds 10 per cent, cash 5 per cent.Isa link: No.Charges: Annual 1.75 per cent.Commission: Initial up to 5 per cent, renewal 0.75 per cent.Tel: 01534 285195.

Consumers&#39 in dark on credit cards

Consumers&#39 knowledge of their credit cards is extremely low, with 91 per cent of credit card holders not knowing the annual percentage rate on their cards and only 29 per cent knowing what the term means, according to a new survey.The survey of 1,000 British adults commissioned by Halifax Card Services shows consumers are largely […]


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