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Lenders predict BTL boost

UCB Home Loans and Alliance & Leicester are forecasting strong growth for the buy-to-let market this year.

Research by A&L shows that the market has grown by nearly 20 per cent in the last two years and over three quarters of brokers have seen a rise in BTL transactions in the past three years. However, 43 per cent want better-value products.

UCB says there was a 40 per cent increase in the number of new BTL mortgages in the second half of last year and it says that momentum has carried over into 2006. In comparison, there was an 18 per cent drop in the market during the second half of 2004.

UCB says growth in London has been helped by the city hosting the 2012 Olympics.

Head of intermediary mortgages Mehrdad Yousefi says: “Buy to let is a strong market and our thoughts are echoed by mortgage brokers in the UK. Broker feedback suggests that they are encouraged by business and have enjoyed seeing a rise in demand in this area.

“Brokers expect to see the same degree of intense competition and product innovation as they have come to expect from the prime lending market. They understand that this market will need good-value products to sustain and assist the kind of growth they are expecting.”

Managing director Keith Astill says: “After a year, when it looked as though interest in the market had peaked, we are now in the middle of a year of rapid expansion.”


BM Solutions urges brokers to boost business by internet

Brokers are failing to use the internet properly and are losing business as a result, according to BM Solutions. A survey by the lender found that only 53 per cent of the brokers surveyed in its research had a company website while 52 per cent get no new business through the internet. Less than 6 […]

Straight from the Hip

Aifa and AMI chairman John Gummer declared that housing inform-ation packs were a “load of old rubbish” at the AMI annual dinner last week. If Gummer (pictured left) was referring to home information packs, then the assem-bled masses in the audience were in raptures at the comments although although nobody could say what the mysterious […]

‘Affordable housing shortage worsening’

The affordable housing crisis is worsening by 165 homes a day, says a survey from home warranty provider Premier Guarantee. Although the number of homes being built increased by 17 per cent in the first quarter of the year compared with the same period last year, 70 per cent of all homes built cost more […]

Big five under pressure as smaller firms make inroads

Swiss Re’s annual report says Legal & General, Norwich Union, Friends Provident, Scottish Widows and Abbey dominated the protection market last year but are under threat from smaller providers. It shows that the five firms made up around 60 per cent of sales last year, joined by HSBC on income protection. L&G has remained the […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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