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Helping small-scale developers cash in


Conversion, self-build, refurbishment and development finance are clearly the flavours of the month.

Perhaps the new-build housing market is not seeing what you’d call explosive growth in big developments but smaller scale projects are going strong.

But with ever-changing lender criteria, options for borrowers are not as numerous as they used to be.

For example, consider the following case of a client who may pose a problem for some lenders.

This client wants to buy a house that is in need of serious refurbishment. He wants to bring it up-to-date but the property is considered unmortgageable by most lenders.

But once a relatively small amount of money has been spent it is clear that the value of the property will go up dramatically.

The issue is that ownership rules require a client to retain a property for six months before a remortgage application can be submitted to mainstream lenders on a buy-to-let mortgage.

But an increasing number of lenders are becoming more flexible about remortgaging on a short-term basis. They understand that a property can increase in value in a short period due to its initial condition.

And there’s the same requirement for clients who want to buy a big house, convert it into flats and then remortgage onto a buy-to-let deal to get a good return on their investment.

These are just two examples of where short-term lenders can help brokers help their clients.


HSBC’s mortgage market share goes up 3% in first half of 2010

HSBC increased its share of the mortgage market by only 3% in the first six months of this year. Last week the bank revealed pre-tax profits of £;7bn – up from £;3.1bn in the previous six months. Its total mortgage lending in the UK rose by 3% from December 31 2009 to some £;60bn. In […]


Bridging barriers

Although the drought in mainstream lending has thrown up opportunities for short-term finance providers, the sector remains constrained by
funding issues


Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.


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