{"id":164,"date":"2010-07-07T10:01:17","date_gmt":"2010-07-07T10:01:17","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=164"},"modified":"2010-07-07T10:01:17","modified_gmt":"2010-07-07T10:01:17","slug":"july-buy-to-let-lending-update","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/july-buy-to-let-lending-update\/","title":{"rendered":"July Buy-to-Let Lending Update"},"content":{"rendered":"<p>It\u2019s been a quiet recently on buy-to let lending.\u00a0 A lack of faith in the industry due to the emergency budget and public sector cuts are being contributed to a slow period of growth.\u00a0 However, this year house prices in general have seen a 3 per cent increase.\u00a0 Rents have increased nationally on an average of 0.5 per cent and buy-to-let residential property prices have also risen by 0.1 per cent, bringing the last 12 months a total sum of an 8.6 per cent increase and yield are reported at about 4.8 per cent.<\/p>\n<ul>\n<li>Savills      Lending Solutions have announced \u2018Bridge to Let\u2019 scheme.\u00a0 This enables borrowers to take      advantage of a 6-month bridging finance arrangement where significant      refurbishment of a property is required, following which the client can      borrow at a competitive mortgage rate, thereby allowing borrowing against      the enhanced market value rather than the original value\/purchase      price.\u00a0 There are 2 products, at      70% LTV and 75% LTV.<\/li>\n<li>The      Mortgage Works have announced changes to their Buy-to-Let product range      with effect from Friday 2<sup>nd<\/sup> July, including adding a new      product at a 2-year fixed rate of 5.64% up to 75% LTV.<\/li>\n<li>On the      residential front, Abbey have just brought out a 3.09% 2-year fixed to 70%      LTV and a 3-year tracker at 3.21% up to 75% LTV.<\/li>\n<li>Nationwide      released their June House Price Index last week and whilst annual house      price inflation was down from 9.8% to 8.7%.<\/li>\n<\/ul>\n<p>Word has it that the Bank of England won\u2019t be rising the interest rates for the rest of the year\u2026\u2026..fingers crossed.<\/p>\n<p>For more information on any of these products contact Mark at <a href=\"mailto:mark.sorby@jmontagufs.com\">mark.sorby@jmontagufs.com<\/a><\/p>\n<p>By<br \/>\nMadalena Penny<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s been a quiet recently on buy-to let lending.\u00a0 A lack of faith in the industry due to the emergency budget and public sector cuts are being contributed to a slow period of growth.\u00a0 However, this year house prices in general have seen a 3 per cent increase.\u00a0 Rents have increased nationally on an average [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[38],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - 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