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B2L market bouyant, but cautious

The buy-to-let market remains buoyant but cautious, according to the latest survey of trends among the Association of Residential Letting Agents&#39 (ARLA) panel of mortgage lenders.

The average monthly total of actual loans for buy-to-let investment rose by 30% compared to the previous six months. However, an average loan figure of £82,141 was only 2.4% more than the previous average of £80,100.

Prime central London continues to have by far the largest loan size of any area of the country at £198,800 – nearly four times the average figure of £53,900 for northwest England and North Wales, and well over twice the size of the average loan for the country as a whole.

However, the average loan amount for property in prime central London has decreased by 2% while the rest of London has remained unchanged. Loan amounts increased in all the other regions from between 5.8% in the South East and 14.4% in the South West.

John Crossley, chairman of ARLA, says: “When you consider soaring house prices, this demonstrates a buoyant market for investors taking a properly cautious attitude. It kills the twin myths of &#39bubbles&#39 and &#39bursting&#39, and bodes well for the health of the private rented sector.”


Give us a break on tax and regulations

Today, the Confederation of British Industry calls on the government to halt the “relentless and damaging” rise in business taxes, which will cost firms an additional £47 billion between 1997 and 2005. It also publishes its submission to Chancellor Gordon Brown ahead of his pre-Budget report, due out later this month. Protecting the UK&#39s competitive […]

Housebuilding figures for September 2002

In September 2002, it is estimated that 16,900 dwellings were started in Great Britain compared with 15,400 in September 2001. Completions of dwellings were estimated at 14,500 in September 2002 compared with 13,300 in September of the previous year. In the latest three months 49,300 dwellings were started, up 5% on the same three months […]

New head of sales at Birmingham Midshires

Alan Cleary has been promoted to the post of head of sales at Birmingham Midshires. In his new role, Cleary takes responsibility for the lender&#39s mortgage consultants and intermediary sales team. Cleary says: “The sales team are essential to the continued success of our specialist lending function. We&#39re concentrating on a market-led and sales-focused approach […]

Birmingham Midshires scoop Investors in People award

Birmingham Midshires has been recognised with the prestigious &#39Investors in People&#39 award for the fourth time in succession. Investors in People is a government-backed initiative, recognising companies who are committed to investing in training and developing their employees. Birmingham Midshires&#39 success is based upon a recent assessment of their commitment to training their people. The […]


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