August 13, 2011
Lime Financial ‘ripen’ with three year anniversary!
This month marks the third anniversary of Lime Financial Services, an independent commercial finance and property investment firm based in Redditch, Worcestershire.
Lime financial offers an abundance of financial services, covering commercial finance, residential finance, mortgages and insurance.
Iain Vaughan, Managing Director of Lime Financial, launched the company in 2008 after 10 years working in the lending industry for leading estate agents and a London Based American Investment Bank.
The firm offers both commercial and residential clients impartial advice to best suit their needs. Lime Financial cover the whole of the market, offering honest advice across the board.
Lime Financial work with a range of lenders, from high street lenders such as Santander, Lloyds and Barclays to specialists such as Handelsbanken, Aldermore, Lancashire and Lowry Capital.
Iain has utilised his years of experience in many lending organisations, extensive knowledge of the markets, and wealth of important contacts to make Lime Financial thrive and reach new heights!
Iain Vaughan comments, “Obtaining finance has been particularly difficult over recent months but Lime Financial Services have succeeded in securing finance for many clients where other companies have failed.
“Our success over the last three years has enabled us to expand; my team have a wealth of experience and for those who would prefer a female consultant we can now offer this service.
“Lime Financial’s third anniversary marks a turning point as business levels and profits grow; we have a strong customer base and lender relations couldn’t be better!”
May 26, 2010
Housing market at critical tipping point says Savills
The housing market is at a critical point, says Yolande Barnes, head of residential research at estate agents Savills. Yesterday, she said the emergency Budget would be of critical importance in determining the mid-term outlook for residential markets.
“Our research suggests that mainstream property markets are at a tipping point, as subdued demand is being met by increasing supply of marketed stock,” she said.
“The abolition of HIPs should encourage more vendors to test the market so we expect to see steady increases in the number of homes for sale. This reversal of stock shortages that we saw last year should halt and may even reverse price rises. “The propensity of the market to fall will be determined by the number of distressed sellers in it. In this respect, it appears that the quantity of repossessed stock will remain minimal as the assurance that repossession will be a ‘last resort’ outcome will provide a welcome cushion.”
She said that although austere fiscal measures and public spending cuts could rock sentiment in all markets, the prime markets are more prone to financial market movements and policies affecting high-earning and high net worth individuals.
She said policies that might impact on the appeal of the UK, and London in particular, as a place to invest and do business, would be very important. The cumulative effect of the bonus levy, 50% tax and threats to non-dom status were already making the UK less attractive to international investors.
“The announcements on Capital Gains Tax rate changes may further discourage second-home owners and landlords in these markets,” she added.
“Many clients are consulting their advisers on how best to minimise their liability, while others are reconsidering the role of property within their portfolios. A worst-case scenario would be a flood of disposals, and a surge of new stock. In this respect, the timing of any changes is critical.”
The ‘tipping point’ phrase, used to describe the housing market, was also used by Rightmove last week
May 18, 2010
Order to suspend HIPs is signed
An order to suspend HIPs has been signed, with the announcement of a suspension due this week as Parliament convenes.
According to well-placed sources, the order was signed on Friday morning.
The HIP industry is anxiously awaiting developments, and could mount a legal challenge to the suspension.
A note from the HIP Reform Group sent to its members says it is “firmly of the view that this would amount to an unlawful use of the statutory power (section 162). It could therefore be challenged in the Court. “Suspension of the HIP would kill our industry overnight. Not only would the HIP providers be affected, but the EPC market would also be instantly killed as responsibility for ordering the EPC would be left with the vendor. Thousands of jobs will be lost and livelihoods will be lost.”
The HIP Reform Group has called on all its members to lobby MPs and housing minister Grant Shapps.
Meanwhile Knight Frank called for the abolition of HIPs to go yet further, with the EPC pushed to the back of the transaction.
The firm said: “Only if this happens will the full damaging legacy of HIPs have been removed.”
Accidental landlords to be clobbered by mortgage hike
Home-owners who let out their properties for more than three years and who have ordinary residential mortgages face steep hikes in their repayments.
Nationwide will be adding 1.5% to borrowers’ monthly payments, plus a £50 fee when they notify the lender that they are renting out their property.
The new regime kicks in on September 1 for new customers, and December 1 for existing borrowers who have already let out their homes for more than three years.
Nationwide wants to clamp down on property investors who have taken out residential mortgages, which cost much less than buy-to-let mortgages. However, the charges will hit accidental landlords who have been unable to sell and home-owners working abroad.
Nationwide is set to become the first lender to charge such a levy. The announcement comes after Parliament rushed through legislation to protect tenants from immediate eviction where the landlord has an ordinary residential mortgage, whose property is repossessed and where the lender might not even know there were tenants in the house.
Nationwide is also increasing or introducing other charges in September. There will be a £50 fee for switching from capital repayment to interest-only monthly payments. The society is also increasing charges levied on borrowers in arrears.
May 11, 2010
Buy-to-Let Lender Raises LTV to 80%
The Mortgage Works has increased the loan to value of its core buy-to-let mortgages from 70% to 80%.
The move was greeted as a possible end to the LTV stalemate in the buy-to-let sector, with calls for other lenders to follow suit promptly.
David Whittaker, managing director of specialist buy-to-let broker Mortgages for Business, said: “Finally we’re seeing a lender move the pieces on the chess board in a positive way.
“We’ve been waiting for two years for upbeat news in the buy-to-let market and TMW have made it clear they feel as optimistic as we do about buy-to-let’s future.
“Many portfolio landlords have been unable to expand over the last 18 months as they have reached their maximum with the mainstream lenders. They will welcome the news that alternative options at higher LTVs are becoming available.
The product range with the new 80% LTV offers trackers and fixed rates and includes a one-year fixed rate product at 5.99%, with a capped maximum loan size of £250,000 and a flat arrangement fee of £1,795.
April 29, 2010
Abbey Reduce Fixed Rates Again!
On Friday 30th April Abbey for Intermediaries are reducing the rate by up to 0.20% on select 70% LTV, Fixed rate products
Reductions as follows:
- 2 year Fixed rate, Homebuyer, Homebuyer Plus and Remortgage products, 3.44% with a £995 fee.
- 3 year Fixed rate, Homebuyer and Remortgage products, 4.25% with a £995 fee.
April 22, 2010
Protection for High Net Worth Clients
For you
- access to our dedicated High Net Worth team and our ‘Price Beater’ offering
- we’ll beat any like for like competitor quotes.
- immediate cover is available whilst your application is processed and if you need a medical examination it will be conducted by the Harley Street Doctors Group
April 8, 2010
Base Rate remains unchanged at 0.5%
The Bank of England has today kept the cost of borrowing at a record low of 0.5% for the 13th consecutive month. As the country gets ready for a general election, some commentators are predicting that a change in government will lead to a change in fiscal policy and that we will see an increase in rates later this year.
Our view remains that it is unlikely that we will see an increase in the cost of borrowing until 2011 at the earliest. The economy remains fragile and whilst there is still an outside chance of a “double dip” in the recovery, we do not see any way that rates will move this year.
March 24, 2010
Stamp Duty to be axed on FTB properties under £250k
Stamp Duty to be axed on FTB properties under £250k from midnight tonight Chancellor confirms
