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Every month at PPN Rory O’Mara of http://www.closedbridgingfinance.com gives an update on Mortgage and Finance and he has agreed that I can share his information in this blog.

NEWS
β€’ Average House Price: 9 June Β£297,508 August Β£304,116 – Zoopla
β€’ More FTB Mortgages issued in June since 2007
β€’ First time buyers make up 47% of the market in Q1 2016 – 154,200 Deposit is Β£33.960 up 14%.
β€’ BTL arrears falling after Brexit 9,300 Q1 2016 to 6,600 in Q4

Top Buy to LetMortgages
β€’ TMW: 2.49% 2 Year Fix 75% LTV
β€’ B Mids: 2.84% 2 Year Fix 75% LTV
β€’ KENT REL: 4.99% 2 Year Fix to 85% LTV
β€’ VIRGIN: 2.54% 2 Year Fix 75% LTV
β€’ MORT TRUST: 2.80% 31/01/18 75% LTV
β€’ COVENTRY: 3.29% 2 Year Fix 75% LTV

Top Long Term BTL
β€’ BMSols: 3.29% 5 Year Fix 75% LTV
β€’ VIRGIN: 3.48% 5 Year Fix 75% LTV
β€’ Coventry: 3.19% 5 Year Fix 65% LTV

BRIDGING & DEVELOPMENT
β€’ Typical 70-75% LTV x Purchase Price
β€’ Arrangement Fees 2%
β€’ Monthly Interest from 1%

DEVELOPMENT FINANCE:
50% x GDV
100% x Build Cost in Stages
50-60% x Purchase Price

Please contact Rory to discuss the information in this blog.

steve@bicknells.net

 

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