Mortgages for Business is committed to keeping both our staff and clients safe during the COVID-19 outbreak while maintaining the best service possible. Our teams are working from home, but don’t worry, you can still contact us in the usual ways.
To read our comprehensive FAQ guide on how the emergency interest rate reduction and Coronavirus outbreak could affect your mortgage, please click here.
If you want to request a payment holiday, please contact your lender directly. For lender contact details, click here.

Returns on HMOs increase in Q1 2016

The introduction of more products targeted at limited company borrowers saw the average product numbers for buy to let mortgages increase significantly in Q1 2016 rising to 1,105 from 963 in Q4 2015.

The results for Q1 also revealed that remortgages yet again outstripped purchases in all categories with the exception of HMOs, where purchase numbers were slightly higher.

Commenting on the findings, David Whittaker, managing director of Mortgages for Business said:

“With tenants looking for less expensive accommodation and landlords looking for higher yields it is no surprise that the number of HMO purchases has risen in the last quarter. 

Even though remortgage transactions were higher this is not to say purchase numbers were down.

All types of residential investment showed a marked increase in the number of purchase transactions as investors rushed to beat the 3% stamp duty surcharge deadline.”

Yields for semi-commercial property also rose in Q1 making it the second highest yielding property type.

Mr Whittaker said:

“I would expect to see the number of landlords purchasing semi-commercial property to rise in the coming months as mixed use properties are technically classed as a commercial premises and as such will not be liable for the 3% stamp duty surcharge.”

 

The results of the index can be found here. 

 

You may also be interested in

HMOs - what are they and how to finance them?

Rental property which avoids the 3% stamp duty surcharge

Remortgaging your buy to let - hands up if you want a freebie?!?!

Top 10 Best Buy to Let Remortgage Products

 

 

 Newsletter sign up - News and blogs.jpg

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Get in contact with us: 0345 345 6788 or ...

Submit an enquiry
Arrange a call back