Friday News #058 – 22nd May 2020
The UK property market is gaining momentum with buyers making swift and decisive purchasing decisions. Seasoned investors, in particular, are taking action knowing that as demand increases and more buyers return to the market the opportunity decreases.
Lenders are returning to the BTL market in high numbers after briefly removing products and putting restrictions in place due to Covid-19. With high loan to value figures on offer and base rate interest being so low, now is a great time to borrow money for property investment.
Here is what we’ve seen in the news this week:
Post-Lockdown Property Market Bouncing Back: Recent Rightmove data indicates that the property market needs to prepare for an immediate surge in demand after home-mover visits to the site exceeded 5.2 million on Wednesday 13th May. Read more.
Virgin and Clydesdale to relaunch products next week: Virgin Money and Clydesdale Bank will launch a wider product range next week, which will include residential mortgages up to 90% LTV and buy-to-lets to 80% LTV. Read more.
Buying a new-build property during lockdown: your questions answered: What does the reopening of the housing market mean for new-builds, Help to Buy and shared ownership? Read the latest property advice from Homeowners Alliance.
BTL landlords urged to take advantage of ‘bargains’ and add to portfolios: With the residential property market reopening for business, investor confidence in the sector is starting to improve…encouraging buy-to-let landlords to take advantage of existing market conditions and potential ‘bargains’ by preparing to add to their property portfolios this year. Read more.