View more on these topics

PACKAGING SUMMIT 2007: BTL as big as FTB market by 2011, says HBOS

HBOS has predicted that the buy-to-let market will be as big as the first-time buyer market by 2011.

Speaking at the Mortgage Strategy Packager’s Summit, Phil Jenks, head of mortgage strategy at HBOS, predicted that an increase in immigration from Eastern Europe, as much as 100,000 people per year until 2011, would mean the buy-to-let market will go from strength to strength.

He says: ‘We have looked at the statistics, and buy-to-let seems a pretty sure thing. We really do believe the specialist market will grow to cover as much as 30% of the entire market by 2011. This is why I believe packagers will survive, the economics says that they will be able to continue into the future as the specialist sector grows.’


Swift raises lending limit

Swift has increased its lending limit for first and second charge mortgages for up to 75% LTV to £750,000. The previous limit was £500,000. Swift will continue to lend on properties valued over £750,000 at a reduced 70% LTV.

NR may pay retention proc fees

Northern Rock may bow to peer pressure by paying brokers proc fees for home movers, as part of a customer retention drive.

HIPs could boost Network Data

Investment analysts are predicting that if Network Data’s Home Information Pack business Hipstar takes off its share price could rocket by 45% to 79p.


News and expert analysis straight to your inbox

Sign up