Welcome to the January edition of the Dee Commercial Finance newsletter!
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What does 2023 have in store for the buy-to-let market?
With the fresh new year, thoughts of course turn to planning for what might be coming over the horizon over the course of the next 12 months. For the buy-to-let market certainly, there have been some significant ups and downs, particularly for landlord borrowers who have had deals ending in the last few months.
Inflation eases for second consecutive month
Annual inflation in the UK rose by 10.5% in December, but was down from the 10.7% recorded in November. Latest Consumer Price Index (CPI) figures from the Office for National Statistics (ONS) showed a dip in inflation for the second consecutive month after a four-decade high of 11.1% was posted in October.
Second charge lending continues to grow but at slower rate: FLA
Second charge mortgage new business volumes grew by 9% in November 2022, according to the latest figures from the Finance & Leasing Association. The number of new agreements totalled 2,817 in November, while the value of new lending rose by 14% to £130m.
Profits up for holiday let investors despite falling demand
A relaxing of travel restrictions and an escalating cost-of-living crisis was always going to test the strength of the UK’s staycation market. Yet, despite these factors, holiday home owners earnt a record-breaking £28,000 on average in 2022, a 33% increase on income levels seen pre-pandemic.