Our short term bridging loans are for purchase, refinance, property improvement or to unlock working capital for business purposes.
This unique overdraft provides you with a flexible drawdown facility giving you instant liquidity and avoids heavy setting-up costs.
Individually structured development loans for residential and commercial projects, with finance available for site purchase, construction and fees, refinance, equity release and to provide working capital. Loans are available up to 90% of the site cost.
We have a commitment to innovation and with the ever changing financial landscape around us we have designed a range of unique Specialist Lending products that solve a range of property lending needs.
Post Pandemic Hotspots
The Covid pandemic has shaken up the property market, creating new hotspots for buyers and renters. So, which areas have seen the biggest increase in demand and what are the post pandemic hotspots?
Property website, Rightmove is one of the best sources to understand which regions are fairing the best after Covid as it has data on both the stock available and the number of people who are looking in any particular area.
According to the website, Newmarket in Suffolk is the biggest hotspot as, over the last year, it has seen the biggest gap between the number of homes sold and the number of new sellers coming to market. Rightmove says that the number of sales being agreed in the down has increased by 79% over the last year, whereas the number of new sellers putting their properties up for sale has decreased by 49%.
The top ten new supply shortage hotspots are all in South East and East of England, and three of the hotspots – Newmarket, Berkhamsted and Bushey – have recorded house price inflation of 9% since 2019.
When it comes to rental property, seaside towns and other holiday resorts have seen the biggest decline in available properties to rent, compared to 2019. This is due to a combination of increased demand from renters who want to live in a more desirable location rather than having to be close to their office, and also landlords in the area holding back some properties from the rental market to use as potentially lucrative holiday lets.
According to Rightmove, the top 10 available rental shortage hotspots are the Isle of Wight. North Devon, West Devon, Northumberland, Blackpool, Torridge, South Tyneside, Neath Port Talbot, Cornwall and North Tyneside and the average uplift in tenant demand for each property across all of these areas has been 317%.
It’s worth noting, however, that rental demand has been increasing across the country and Connells says that London – which had experienced 13 consecutive months of falling rents – bounced back in the summer, with a monthly increase of 4.3%, which is actually the largest on record. Similarly, recent analysis from ARLA Propertymark noted that while the average letting agent in the UK has 184 properties on its books, rental stock is lowest in London where it stands at just 112 properties per branch.
So, the post pandemic outlook for property currently looks positive. Covid has dispersed some of the areas that are in high demand, but demand across the country remains high.
