BTL Insider

Vida Homeloans has cut rates across its BTL products by up to 30bps. “We’ve seen swap rates in the market drop over the course of January,” said Ross Williams, head of mortgage product management at Vida Homeloans. “We always endeavour to pass these savings on to our potential customers through rate reductions across our ranges.” Read the full story on BTL Insider: https://lnkd.in/efCxQFw3

CHL Mortgages has cut rates on its short-term range of BTL products for intermediaries by up to 1.19%. “We believe this rate reduction will support landlords looking to diversify their portfolios and explore other investment opportunities,” said Ross Turrell, commercial director at CHL Mortgages. Read the full story on BTL Insider: https://lnkd.in/eXMSsXSn

A coalition of student housing providers along with the National Residential Landlords Association - NRLA have warned the government that the Renters Rights Bill will threaten students’ access to higher education. In a joint statement accompanying the letter, the coalition has stated: “The changes will ultimately prove to be counterproductive, increasing uncertainty and financial anxiety amongst student tenants. “We call on the Government and Peers to act to protect the availability of all student housing.” Read the full story on BTL Insider: https://lnkd.in/eKPp4d6f

Young ethnic minority renters are being priced out of their own communities, according to Generation Rent UK. “Some move out to live independently from their family, some choose to stay with them - but many young people, especially ethnic minority young people, are being forced to make these decisions because they cannot afford any other alternative,” said Generation Rent, in a statement accompanying the research. Read the full story on BTL Insider: https://lnkd.in/ePat-n58

Keystone Property Finance has reduced rates across its entire product range by 15bps. “We’re delighted to be able to reduce our mortgage rates for the second time this year,” said Elise Coole, managing director of Keystone Property Finance. Read the full story on BTL Insider: https://lnkd.in/eqbqt_Mx

Molo Finance has cut rates across its BTL product range by 20bps. Martin Sims, distribution director at Molo, commented: “By reducing our rates, we are giving intermediaries even stronger options to support their clients, whether they are growing their portfolios or securing their first investment property.” Read the full story on BTL Insider: https://lnkd.in/eht-ebPw

Propertymark has warned that hundreds of letting agents are at risk after the HM Revenue & Customs published its most recent update on compliance and penalties for the sector. Propertymark added: “It is vital that agents correctly apply for and maintain an up-to-date registration with HMRC, and whilst we actively advocate for more precise guidelines and understand the complexities of the current process, it’s crucial that agents understand the severity of the consequences of failure to register." Read the full story on BTL Insider: https://lnkd.in/eEaJzcbf

Cardiff’s CF24 postcode has taken the top spot in Paragon Banking Group PLC’s top 10 hotspots for BTL investment in 2024. “Even though privately rented homes are in short supply all over the UK, landlords are strategic and often target locations with consistently high demand; cities where we see large transient populations, such as students and temporary workers, alongside more permanent residents like young professionals and families,” said Neil Smith, head of surveyors at Paragon Bank. Read the full story on BTL Insider: https://lnkd.in/eN5KPaWG

The The Right Mortgage and Protection Network has launched an accreditation scheme for advisers who offer their services in the BTL space. Roger Morris, group distribution director at BTL specialists Chetwood Financial Limited, is working with The Right Mortgage on this initiative. “Following the success of last year’s later life lending accreditation scheme, we at the network are awarding other specialist product sectors where we can work with our adviser members, help develop their propositions and provide them with a further layer of support and resources,” said Victoria C., head of lending at The Right Mortgage & Protection Network. Read the full story on BTL Insider: https://lnkd.in/exYVY78m

"I think it’s fair to say that 2024 was an eventful year for the property industry, and the BTL market was by no means an exception. "Landlords were impacted by a variety of changes and challenges, many of which were caused by the policies brought in by the new Labour government and the elevated cost of borrowing. "In spite of these challenges, bricks and mortar investments have demonstrated remarkable resilience." Read the full opinion piece by Ross Turrell, commercial director at CHL Mortgages on BTL Insider: https://lnkd.in/eVDdh2HM