As we continue to mentally readjust to life after the worst of the pandemic, we find the property development market at an interesting place in time. As far as interest in bridging goes, things are recovering well. At London Credit for example, we are receiving a constant stream of enquiries from brokers.
Capital cities are usually – but not always (think Canberra) – the economic epicentre and cultural lifeblood of a country. For the UK, London is so much more than that. It is a genuine ‘world city’ and in surveys its inhabitants often say they feel more affinity to residents of New York than Leeds or Birmingham, for example.
Speak to anyone in the specialist market at the moment, and you’ll get a similar story. The desire from investors to purchase property, whether with the intention of doing it up and selling it on or retaining it for the long term, is as strong as ever.
There is a real feeling of business getting back to normal at the moment across the bridging industry. It’s not just because of the excellent levels of activity we are still seeing, even after that first Stamp Duty holiday has passed, but also because of the return to face-to-face industry events.
Here is a real feeling of business getting back to normal at the moment across the bridging industry. It’s not just because of the excellent levels of activity we are stil
It’s been an astonishing year for the property market. Despite the inevitable difficulties of the pandemic, the Stamp Duty holiday has spurred a significant level of activity. It’s not just meant that brokers and lenders have formidable workloads; it’s also pushed house prices up sharply.
The pandemic has forced all of us to spend far more time at home over the last year and a half, causing our homes to double as our workplaces and even as schools for our children.
London Credit has launched an Extend or Convert Refurb product for property investors who want to increase value by adding space or changing the use of a property.
Business development managers (BDM) are an integral part of the mortgage market, acting as the voice and face for lenders who appreciate the intermediary market.
It would be easy to think that demand from overseas buyers is likely to drop in the months ahead. April sees the introduction of a new Stamp Duty surcharge for those purchasing a UK property from abroad, with buyers having to put up an extra 2% compared to domestic buyers.
"Quick transactions don’t happen by accident. It’s only through the broker, borrower and lender working closely together that we see such rapid turnarounds."
Stamp duty has been a big topic of discussion for everyone in the property market of late, thanks to the ‘will they, won’t they’ over a possible extension to the stamp duty holiday which was due to end at the start of April.
The clock is ticking on the Government’s Stamp Duty holiday. Last summer Rishi Sunak, the Chancellor of the Exchequer, announced that no Stamp Duty would be charged on the first £500,000 of any purchase made before the end of March 2021.
London Credit has relaunched its auction finance product, where an offer can be issued prior to the auction so that a potential buyer has surety of funds should their bid be successful.
Estate agents back in April (when the UK was in lockdown and the property market was frozen) were forecasting that house prices would fall by up to 10% in the short term.
European and global investors are looking for more innovative investment opportunities that are proven to add value to their portfolio. One such option is to invest in property-secured loans and one of the most favourable in recent years is the UK bridging finance lending market for business purposes.
London Credit, a well-established Bridging Finance company is looking
to recruit a dynamic Business Development Manager to join their
expanding team based in London
