Category: Mortgages

Estate agent aims to shake up sales of commercial properties

A new online estate agent has created an online platform that aims to disrupt the way commercial properties are sold. The founder and CEO of Virtual Commercial, Andrew Vertes, an experienced estate agent, observed how residential house selling had changed over recent years. Websites like

Commercial loan delinquency rates at near record lows

According to the Mortgage Bankers Association, delinquency rates for commercial loans were at near record lows in the first quarter of 2018. The delinquency rate for loans held by banks is 0.51% overall, with commercial mortgages loans at a rate of 3.9% which is 15 basis point below

TSB IT problems stopped mortgage applications

Headlines in April revealed that the new TSB IT system had severe problems and prevented many of their customers from paying bills with their bank cards. What has now been revealed is that, before the IT breakdown, TSB had launched its “Mortgage Pro” system, which was designed to

Decline department stores leaves landlords with problems

House of Fraser is closing many of its stores. The number of large department stores in the UK has dropped by 25%, from 240 to 180. This compares to the total number of shops in the UK, which have declined by just 1%. Landlords of large department store buildings are left with the problem of

“Staycations” boost holiday let investors

The fall in the sterling has meant that overseas holidays are more expensive. This, coupled with the effect of good weather in May and June 2018 has made it more attractive to take holidays in Britain. These holidays are often referred to as “staycations.”

There has been stagnant wage growth, and this has caused many households to

Bank of England warns that high street banks are taking risks

The Bank of England has warned high street banks that they could be taking too many risks when selling mortgages and commercial loans. To qualify for a loan a business or individual must meet affordability rules designed to check whether borrowers can afford to repay loans. The Bank of England says that banks have been...

Do online property transactions threaten human jobs?

In Dubai, the government is developing the Real Estate Self Transaction (REST) system, an online platform for buying and selling property. Could a similar system be used in the UK to replace human jobs? The Dubai REST system is expected to be completed by 2020 and will allow property owners to buy and sell properties...

Heathrow’s third runway could boost buy to let businesses

The government has approved plans to build a third runway at Heathrow Airport, which should be completed by 2026. According to Adam Male, director of letting at Urban, this will provide opportunities for buy to let landlords in the areas surrounding Heathrow Airport. He claims that a new runway may put off homebuyers who do...

Expats may lose out when investing in UK property

Expats purchasing buy to let property in the UK may not be getting the best deals. If purchasing with cash, a person with foreign funds outside of the UK will have to exchange the money from a foreign currency to Great Britain Pounds. Large high street banks can transfer the money, but expats can save...

Is retail shopping in terminal decline?

In recent months there have been many headlines about retail businesses failing. There are also reports about the rise of online shopping. This has led to some people predicting the death of physical shops, but is retail shopping in a terminal decline? According to David Mitchell from Shepherd and Wedderburn, organiser of the conference Property...