{"id":147,"date":"2010-06-01T09:36:27","date_gmt":"2010-06-01T09:36:27","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=83"},"modified":"2010-06-01T09:36:27","modified_gmt":"2010-06-01T09:36:27","slug":"banking-news","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/banking-news\/","title":{"rendered":"Banking News"},"content":{"rendered":"

It’s been an uneasy period in the UK for Landlords and Letting & Estate Agents this year, while we await news on the PRS industry following the elections last month.\u00a0 As the HIP packs have been abolished, the UK has seen a raised increase of houses coming onto the market as owners initiate sales.\u00a0 The proposed CGT raise has also seen a number of BTL properties hit the market as landlords rush to beat the tax increase.<\/p>\n

It also appears that the Banking sector are not immune to reform and are undergoing changes in house as banks review their policies.<\/p>\n

<\/strong><\/p>\n

    \n
  1. As the coalition government prepare plans for a \u00a36bn cut in public spending, an \u00a38bn tax, is expected to be levied on banks.\u00a0 The emergency budget on June 22nd<\/sup> is also expected to announce a vat increase.<\/li>\n<\/ol>\n
      \n
    1. Lloyds Bank, which is Britain\u2019s largest mortgage lender is doing it\u2019s best to withdraw interest only mortgages and a levy of 0.2 of a per cent is being administered by some other banks on interest only mortgages.\u00a0 BTL lending dropped for the first quarter of 2010.\u00a0 The Council of Mortgage Lenders (CML), reported a 15 per cent fall.\u00a0 In 2007 there was a reported 3,662 different btl mortgages on the market, that figure now stands today at just a mere 300.\u00a0 Arrears <\/a>in the btl market seem to be faring somewhat better with a 1.5 per cent drop at the end of this years first quarter, compared to the same quarter in 2009<\/li>\n<\/ol>\n
        \n
      1. The Eurozone situation seems to be causing some worry for btl investors, who borrowed from private banks.\u00a0 Libor (the rate at which banks lend to each other) has risen in the past three months from 0.61 per cent to 0.7 per cent.<\/li>\n<\/ol>\n
          \n
        1. Stephen Green, Chairman of HSBC announced that the bank\u2019s remuneration committee will be reviewing their pay practices.\u00a0 The committee will assessing the bank\u2019s pay and bonus policies.<\/li>\n<\/ol>\n

          By
          \nMadalena Penny<\/p>\n","protected":false},"excerpt":{"rendered":"

          It’s been an uneasy period in the UK for Landlords and Letting & Estate Agents this year, while we await news on the PRS industry following the elections last month.\u00a0 As the HIP packs have been abolished, the UK has seen a raised increase of houses coming onto the market as owners initiate sales.\u00a0 The […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[10,5,11,12],"yoast_head":"\nBanking News - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/banking-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking News - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"It’s been an uneasy period in the UK for Landlords and Letting & Estate Agents this year, while we await news on the PRS industry following the elections last month.\u00a0 As the HIP packs have been abolished, the UK has seen a raised increase of houses coming onto the market as owners initiate sales.\u00a0 The […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.withcreative.co.uk\/lforl\/banking-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Legal For Landlords\" \/>\n<meta property=\"article:published_time\" content=\"2010-06-01T09:36:27+00:00\" \/>\n<meta name=\"author\" content=\"Joanna Plane\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joanna Plane\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.withcreative.co.uk\/lforl\/banking-news\/\",\"url\":\"https:\/\/dev.withcreative.co.uk\/lforl\/banking-news\/\",\"name\":\"Banking News - 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