Alan Cleary

Comment: Regions yielding positive results

Factors that have led to healthy returns outside the capital remain compelling As someone who was born in London but now lives in the Midlands, I am only too familiar with the tendency of the national media to focus on the capital as though nowhere else exists. Thankfully, that tendency does not extend to landlords. […]

Opinion: Don’t give in to the naysayers

An evolving buy-to-let market gives cause for optimism, despite the pressures facing the housing industry and high street retailers It is tempting to get a bit deflated with all the negativity in the news at the moment. Housing indicators paint a subdued picture, with house price inflation relatively flat, transactions stagnant and lending down. The […]

How specialist lenders are helping self-employed customers

Irregular incomes and complex accounts should not be a barrier to self-employed workers when it comes to securing a loan, says Alan Cleary of Precise Mortgages The make-up of the UK’s workforce is changing. The recent announcement that the number of people in work in the UK is the highest since records began in 1971 […]

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Opinion: Are BTL lenders doing enough to help brokers?

The PRA’s changes to tighten up lending criteria and ensure consistency have sent tremors across the lending landscape. Borrowers with four or more mortgaged buy-to-let properties are now classified as ‘portfolio landlords’ and subject to more stringent underwriting standards. In its Supervisory Statement released at the time it announced the changes, the PRA said: ‘The […]

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Thinking Cleary: Set the self-employed straight

The industry needs to keep challenging the prevailing myth that self-employed people are locked out of borrowing Chancellor Philip Hammond’s spring Budget raised the hackles of hard-working people across the country. Not only did he announce a tax hike for the self-employed in the form of increased National Insurance contributions but he also hit small […]

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Thinking Cleary: Self-employed market still underserved

Employment and housing demographics have altered greatly – so lenders and politicians should both act accordingly The ONS has recently published employment statistics under the title UK Labour Market: July 2016. The thing that jumps off the page is the rising number of self-employed people and the growth rate in self-employed roles. There were 31.7 […]

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Thinking Cleary: A cool-headed take on new B2L rules

Having just implemented the MCD, which we spent a year getting ready for, I was looking forward to a period of relative regulatory peace and quiet. Wrong again! Along comes CP11/16, aka underwriting standards for buy-to-let mortgage contracts. This time, instead of coming from the FCA it comes from the Bank of England’s Prudential Regulation […]