Despite the COVID 19 pandemic and the subsequent lock downs and tier system introductions, the BTL Market has continued to thrive. One could say that the part stamp duty relaxation, available until the end of March, has kept purchases buoyant, but we have also seen a high number of refinance deals completed as fixed rate deals have come to an end.
Last week’s East Midlands Business Link Bricks Awards 2020 may have looked very different from previous years, but the digital awards ceremony was still a vitally important opportunity to celebrate the success of the region’s property and construction industry.
This is a question that we are asked on a regular basis and there is no simple answer.
EMPO is the leading residential landlord association in the East Midlands. This established association has been providing support and representing member’s interests since 1942.
The Chancellor’s announcement that he is increasing the stamp duty threshold to £500,000 until 31 March 2021 is welcome news for the homebuyers and for the economy, but it is also brings opportunity for our property investor clients.
We are pleased to announce we now have access to a CBILS backed Bridging Finance for Developer Exits on residential development schemes
June 30th was a ‘big news’ day for property developers after the Prime Minister announced the ‘most radical reforms to our planning system since the Second World War’. The reforms would see existing commercial properties, including newly vacant shops, converted into residential housing more easily.
One of the first things to stop as Lockdown came into force was the physical valuations of residential properties by Surveyors. This meant that Lenders were reliant on Desk Top surveys or AVM’s (Automated Valuation Model) to enable them to issue Offer Letters
Earlier this year, Sterling Capital was delighted to announce that we are sponsoring the ‘Residential Development of the Year’ award at the East Midlands Business Link Bricks Awards 2020.
You may recall my ‘musings’ from a few weeks ago on the subject of mortgage payment holidays and my nervousness of property landlords taking advantage of the these as part of the wider Government COVID response.