CML figures show buy to let advances down 13% from January

The latest figures from the Council of Mortgage Lenders shows gross buy-to-let advances in February totalled 15,900 loans. This is 13% less compared to January but is an 11% increase compared to February 2014.
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Annual house price growth continues to soften

Annual house price growth slowed to 5.1% in March from 5.7% in February Annual house price growth slowed for the seventh month in a row UK house prices rose by 0.1% in March Commenting on the figures, Robert Gardner, Nationwides Chief Economist, said: “UK house prices edged up by 0.1% in March though the annual pace of growth slowed for the seventh month in a row to 5.1% from 5.7% in February. UK house prices are currently around 2% above their pre-crisis levels. “Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows. Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20% below the level prevailing one year ago. “While house price growth has moderated across the UK, there is still significant regional variation. Prices in...
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House Purchase Lending still subdued

Data on the characteristics of UK mortgage lending in January 2015 was released by the CML. This data is broken down into buy to let lending, first time buyers, home mover and remortgage. Lending in January: First-time buyers saw a drop in lending compared to December and the same month in 2014. There were 19,000 loans advanced to first-time buyers January - down 27% on December and 14% compared to January 2014. These loans by value were £2.8 billion, which was down 26% on December and 10% down on January last year. Home movers were advanced 22,400 loans, a decline of 24% compared to December and 17% down year-on-year. These loans totalled in value £4.2bn - 24% down on December and 14% down compared to January 2014. Remortgage lending increased month-on-month with 25,600 loans advanced - up 15% on December but 12% down on January 2014. The value of these loans (£4.1 billion) also increased month-on-month by 21% but was down 5% year-on-year compared...
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Land Registry shows annual growth of 6.5 per cent in February

The annual price change now stands at 6.5 per cent, bringing the average house price in England and Wales to £180,252
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New Manchester Development Seeks Buy-to-Let Investment

In the busy urban market of Manchester, demand for rented properties is high and this has made it a popular destination for domestic and international buy-to-let investors. Now Grove House, a new development of modern apartments in a prime residential area, is seeking property investors and aims to soak up some of the citys excess demand. Grove House is an existing building, but with a commercial rather than residential past. Nonetheless, it is located on an excellent site in a popular residential area – Old Trafford – making it a prime choice for residential use. Now, with the help of funds from buy-to-let investors pre-purchasing apartments, it is set to undergo a conversion, and be transformed from the commercial complex that currently stands to a modern, high-quality apartment complex. The finished development will contain a mixture of one- and two-bedroom properties aimed at young professionals and small families. Investors are...
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Rightmoves March Infographic shows pre-election slowdown

Rightmove’s March House Price Index reported that the price of property coming to market is up by 1.0% (+£2,748), a more muted rise at this time of year for three years suggesting a pre-election slowdown.  
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Rightmove March HPI

Buy-to-let investors cashing in their pension pots to raise larger deposits may drive prices up further at the low end of the market - agents are reporting uplift in interest ahead of new pension rules
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Gross Mortgage Lending down

The Council of Mortgage Lenders estimates that gross mortgage lending reached £13.4 billion in February.
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CML say seasonal lull in house purchase more prominent

The traditional beginning of year seasonal lull in lending is slightly more prominent in house purchase lending than in previous years, especially in comparison to the particularly strong levels at the start of 2014. Affordability constraints remain a factor for would-be borrowers, but we are still projecting lending to pick up over the next few months.
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RLAs response to The Budget 2015

Today’s budget represents a nightmare for tenants and landlords alike. A failure to extend support for energy improvements in private rented housing and measures to allow subletting will cause uncertainty and anger claims the Residential Landlords Association.
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