The UK property market is a constantly evolving landscape, shaped by rising demand, limited supply, and ever-changing legislation. For property developers, one of the most exciting opportunities in recent years has been the concept of airspace development. This innovative approach taps into the potential of underutilised space above existing buildings to create new homes, offices, and mixed-use developments. Let’s delve into what airspace development entails and explore how it can benefit developers while contributing to the UK’s housing supply crisis. What Is Airspace Development? Airspace development involves constructing new units on top of existing structures, such as residential [...]

Many people may have new goals for 2023 - buying a property for the first time, moving to a bigger property to support their growing family, buying an investment property on a Buy To Let basis or arranging a remortgage to a new deal & maybe capital raising for some well needed home improvements. In 2022 interest rates did increase more than previously expected in a short space of time, However, property sales are still taking place and there are many mortgage products on the market. We’ll guide you through how to get mortgage ready in 2023, what [...]

Each lender has their own individual criteria and limits as to how many buy to let mortgages clients can have, however some lenders have the NO LIMITS to the amount of buy to let mortgages clients can have, which is great for the investors who want to expand their portfolio. The lenders that have ‘No Limits’ in place to how many buy to let mortgages you can have are more specialist buy to let lenders and accessible through buy to let mortgage brokers. It is worth noting that if you hold 4 or more buy to let mortgages [...]

In life, things happen, and circumstances change, and this means people need to alter their plans or ambitions. How you react to challenges dictates what you achieve in life, and there is no denying the current economic and financial difficulties are hard for many people and households. If you own a property and you are considering moving, it is natural to consider letting it out. However, you cannot just decide one day to let property and have it on the market the following day, especially if you have a mortgage. You’ll need to engage your lender, and changing [...]

Vacant commercial properties could be seen as an opportunity for an investor to purchase and convert into residential properties in some cases. Permitted development rules make this process much more straightforward, but it's essential to understand what these are before you get started. What is permitted development and what is it used for? Permitted development is a set of regulations that allows certain types of building work to be carried out without planning permission. This includes extensions, loft conversions, and use changes (for example, converting a shop into a house). Converting commercial properties into residential ones falls under [...]

Every aspect of life is becoming more expensive, so it shouldn’t be a shock to learn that homebuyers face fresh challenges. Three increases in interest rates have made borrowing to buy a home more expensive, and it appears leading mortgage lenders are set to impose tighter restrictions on their lending. Affordability tests are getting tougher. If you plan to arrange a mortgage soon, you must familiarise yourself with the new benchmarks in the industry. HSBC has changed their requirements HSBC requires applicants looking to borrow at 4.75 times their annual salary to earn a minimum of £50,000 per [...]

With interests rates and the cost of living increasing now may be a good time to review your mortgage to ensure you are on the right deal and possibly releasing equity to allow you to raise money to carry out some home improvements &/or debt consolidation that you may have been considering for some time. How does remortgaging work? Remortgaging is the process of replacing the mortgage you already hold on a property you own, to a new mortgage on the same property. This could be with your existing lender or a new lender. What is releasing equity? [...]

A new study in the mortgage sector reveals 34% of UK adults looking to purchase a home in the next year could see their application rejected because of “adverse credit histories”. Considering the financial challenges people endured in the past two years is a growing concern for all those with interest in the mortgage or property market. Analysis of the market suggests people looking to purchase a home in 2022 have unsecured debts of an average of £2,732. This figure is 34% higher than the average level of UK debt, which stands at £2,035. People have a lot [...]

Comparisons will inevitably be made to pre-pandemic times, and for the mortgage market, there is positive news. In January 2022, there were 74,000 mortgage approvals, according to data from the Bank of England (BOE). In February 2020, the last “normal” month before the first lockdown, there were 66,700 mortgage approvals. […]

A buy to let mortgage is a mortgage where the lender knows from the outset that you intend to rent out the property. You will have a tenancy agreement drawn up with your tenant called an Assured Shorthold Tenancy (AST) outlining the terms of renting the property. […]