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Landlords look North for buy-to-let

High property prices in London and the South-East are encouraging potential buy-to-let landlords to look further North for properties, according to UCB Home Loans.

It says landlords looking at rental income they can receive compared with current property prices are finding it difficult to break even.

UCB says landlords can get returns of between 8 and 10 per cent in some parts of the country while in parts of London and the South-east a return of 5 per cent can be difficult to achieve.

UCB has found that its sales of buy-to-let mortgages in some parts of London have fallen by up to a third while there is inc-reased interest in rental property in Scotland, the Midlands, East Anglia and the North.

Managing director Charles Reed says: “Landlords can find it difficult to make enough profit in parts of London and the South-east. Combined with the fact that London property may cost more than twice as much to purchase, the attraction of less expensive areas is obvious.”


Eagle Star revamps drawdown plan

Eagle Star Life has revamped its flexible drawdown plan by increasing the fund range and adding more commission options.This hybrid Sipp provides access to 36 Eagle Star Life funds and 12 external funds from managers including Fidelity, Gartmore and Henderson. The previous version of the Sipp allowed investment in up to six funds at one […]

Shawlands fined £140k for compliance failures

Shawlands Financial Services has been fined £140,000 by the FSA.The IFA firm, formerly Frizzell Life & Financial Planning, was disciplined for poor record-keeping and associated compliance breaches.This is the first such action the regulator has taken under its new powers adopted at N2 last November. The IFA, which ceased trading in January, will compensate 12,000 […]

SLI guarantees growth on fund

Scottish Life International is guaranteeing a return of at least 10.2 per cent over five years and two months on its protected term deposit – series 1 fund.SLI says the fund is lower risk than with-profits and offers the potential for further gains of up to 51 per cent dependent on the performance of the […]

Self-builders on the increase

More people than ever are considering building the home of their dreams, according to the latest research by the Norwich & Peterborough Building Society.A survey by the self-build mortgage specialist reveals 85 per cent of people would consider having a home built to their own specifications.N&P says this is up from a figure of 70 […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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