Pfl Mortgages

Fans clad in the black and white of Derby County will be marching down Wembley Way for the Play-Off final, as the Rams stormed to victory against Leeds United.
Despite losing the first leg 1-0, the team bounced back to win 4-2 at Elland Road - winning 4-3 on aggregate - to secure their place in the final in London, on Bank Holiday Monday.
A thunderous cheer of joy bounded through Elland Road when the final whistle was blown, as travelling Rams fans expressed their delight at ...Derby's victory.
The Rams will now face the might of Aston Villa, in what is described as the richest game in football, as the winner will be promoted to the Premier League.
Lawrence Reid, life-long Derby County fan from Swadlincote, said it was a fantastic performance.
See More

Derby County take on Leeds United on Saturday in what is undoubtedly be the biggest match of the season for both clubs.
Both the Rams and Leeds now stand just three matches away from reaching the Premier League.
The first leg of their play-off semi final legs takes place at Pride Park on Saturday at 5.15pm and tickets were all snapped up earlier this week.
... But that is no reason not to watch the game - or the second leg at Elland Road on Wednesday (May 15).
Here at Derbyshire Live, we have produced a comprehensive list of everything you need to know about Saturday's first leg and where you can watch it in Derbyshire and East Staffordshire.
Not all bars and venues are listed. It is worth checking times and possible entry costs at venues beforehand.
When is the Derby vs Leeds game? The first leg of the hotly anticipated first leg between Derby County and Leeds United kicks off at 5.15pm on Saturday, May 11 at Pride Park Stadium.
Tickets for the fixture are sold out.
What channel is Derby vs Leeds on? The match will be shown live on Sky Sports channels - Sky Sports Main Event and Sky Sports Football. Coverage starts at 5pm. You can buy a pass to watch the game online via Now TV.
Which bars/venues in Derby are showing the game? Walkabout, Market Place
Bar Sport, Queen Street
Jaxx Derby, Babington Lane
The Friary, Friar Gate
Cueball Derby, Mansfield Road
Bank, Aspen Drive (Spondon)
See More

House prices in the three months to April were 5 per cent higher than in the same three months last year and 4.2 per cent higher than in the preceding three months, according to Halifax.
The Halifax house price index for April also showed that on a monthly basis, house prices rose by 1.1 per cent, versus a fall of 1.3 per cent in March. The average UK house price now stands at £236,619.
Halifax says the sharp 5 per cent rise in April’s annual change figure comes against the b...ackdrop of a particularly low growth rate over the corresponding period in 2018, impacting year-on-year comparisons. This also factors in a notably high growth figure recorded in February this year, driven by a higher volume of London sales and more expensive new build properties.
MT Finance director Tomer Aboody says: “These numbers are encouraging, reflecting that people are now coming to the conclusion that whatever will be will be with Brexit and they just want to get on with things. There is a positive attitude out there from estate agents to valuers to lenders – everyone is busier with transactions, just as you would expect for this time of year.
See More

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent.
The rate has stayed at this level since it was raised from 0.50 per cent in early August last year.
Minutes from the MPC meeting show that GDP growth of 0.5 per cent is expected in the first quarter of the year, due to a build up of business inventories, which is likely to then drop to 0.2 per cent in Q2.
... The minutes add that the MPC is still eyeing a gradual tightening of monetary policy with a rate target of 1 per cent, depending on the outcome of Brexit.
Meanwhile, the BoE’s May inflation report states that the MPC sees UK house prices decreasing by 1.25 per cent by the end of 2019, and mortgage approvals to average 60,000 per month.
Santander UK chief economist Frances Haque says: “Given the continued uncertainty over the timing and nature of Brexit, the decision to hold rates will not be a surprise to the market.
See More

The average two-year fixed rate has declined very slightly, with little activity in the market over Easter, according to Moneyfacts.
The current rate stands at 2.47 per cent, two basis points lower than the rate recorded a year ago.
Moneyfacts says rates that within the the 60 per cent LTV category and the 95 per cent LTV category have both reduced, with average in the former falling from 1.92 per cent to 1.90 per cent, and the latter from 3.27 per cent to 3.26 per cent.
... In contrast, average rates in the 70 per cent LTV category has risen from 2.53 per cent to 2.54 per cent, and the 85 per cent LTV category from 2.45 per cent to 2.46 per cent.
Meanwhile, rates in the 65 per cent LTV category, 75 per cent LTV category, 80 per cent LTV category, and the 90 per cent LTV category have all remained unchanged.
Moneyfacts finance expert Darren Cook comments: “There has been very few changes this week due to the Easter break, with many people away for the holidays this has led to a slow down in the market.
“I am surprised to see the 60 per cent LTV category fall as the margins within this category are very small.
“However, the 95 per cent LTV category continuing its declining trend is not surprising. Many lenders are wanting to get first-time buyers onto the market, so this category is extremely competitive.”
See More

The number of property transactions across the UK rose on an annual and monthly basis, according to figures collected by HMRC.
Seasonally adjusted, there were 101,830 residential transactions in March, a 1.4 per cent rise month-on-month, and a 6.8 per cent increase annually.
In addition, there were 11,210 for non-residential transactions last month, which equates to an 8.9 per cent rise on a monthly basis, and 9.7 per cent in the year to March.
... Yopa chief property analyst Mike Scott says that these figures show a stable property market, but that a a yearly rise was to be expected due to the “Beast from the East” weather pattern last march that depressed activity.
“Overall,” he adds, “the first quarter has been remarkably consistent with the previous five years, showing that activity in the housing market has not been dented by the current political and economic uncertainty.”
North London estate agent Jeremy Leaf comments: “These figures show a more resilient picture than might have been expected. But on the ground, this is what we are finding anyway, as we move into the traditionally busy spring buying season.
“We do not anticipate much change and certainly not until the Brexit position becomes clearer… although we do sense pent-up demand has not been released and many are itching to get into the market once a clearer picture emerges.”
MT Finance director Joshua Elash adds: “There is a danger that an overall number of transactions for the country as a whole masks an unhealthy market, which in large parts is either stagnant or in decline and empowers the government to continue with its strategy of an overly-aggressive stamp duty regime.
“We shall wait to see what this transactional volume equates to in net stamp duty revenues to HMRC.
“The suspicion is that the volumes reflect increased activity in the regions and secondary cities, which would be consistent with the recent house price data released by the Land Registry.
“But transactional volumes in London and the South East, where higher value properties yield higher stamp duty returns, remain suppressed.”
See More

The developer behind a huge new housing estate being built on the edge of Derby is set to unveil its completed "show village".
Redrow Homes East Midlands is currently building 350 new properties on 50 acres of farmland off Starflower Way, Mickleover, at a development called Hackwood Grange.
It has now completed four properties, which make up the show village - and it will be revealing them to prospective home-buyers this weekend.
... The show village features four different house types: the Warwick, Stratford, Cambridge and Harrogate.
The Warwick has three bedrooms, while the Stratford, Cambridge and Harrogate have four bedrooms.
All four house types are part of Redrow’s Heritage Collection, which aim to “combine 1930s charm with a contemporary, high specification interior”.
See More

The average two-year fixed rate has fallen half a basis point from last week, according to Moneyfacts.
The rate currently stands at 2.47 per cent, which is five basis points higher then it was this time last year.
The 65 per cent LTV category has seen its average two-year fixed rate fall from 2.03 per cent to 2.01 per cent, and the 75 per cent LTV category has also fallen, from 2.34 per cent to 2.31 per cent.
... In addition, the 80 per cent LTV category dropped from 2.44 per cent to 2.43 per cent, the 85 per cent LTV category from 2.46 per cent to 2.44 per cent, and the 95 per cent LTV category from 3.29 per cent to 3.27 per cent.
Meanwhile, the 70 per cent LTV category has risen, from 2.52 per cent to 2.53 per cent.
Furthermore, both the 60 per cent LTV category and the 90 per cent LTV category have remained unchanged, at 1.91 per cent and 2.63 per cent respectively.
Moneyfacts finance expert Darren Cook comments: “The larger drop in individual LTV categories, compared with the small decline in the overall figure is due to the LTV categories having been rounded up, which has led to it appearing as though there has been less change.
“The market is expecting rates to be cut, and with the Bank of England potentially cutting the base rate if we get into economic trouble in the coming months, people are expecting reductions.”
See More

Work on hundreds more homes on the edge of Derby is set to start this month after a deal was struck for a large section of development land.
Avant Homes has agreed terms with property development and investment company CEG and the landowner to buy a 31.8-acre parcel of land at New House Farm, Mickleover.
Just over a year ago, CEG secured planning permission from South Derbyshire District Council for 1,100 homes across 126 acres of farmland on the western edge of Mickleover.
... Avant now intends to build 311 new homes on its section of New House Farm, with work set to commence this month following the approval of a reserved matters application.
The house-builder said it intends to construct a selection of two, three, four and five-bedroom homes on the site.
See More

Prime Minister Theresa May has reassured the region’s business leaders that the second phase of HS2 - which will run through parts of Derbyshire - will be delivered in full.
Recently, doubts have emerged about whether the whole of the second phase of the high speed rail link will be built.
Business leaders have been particularly concerned by rumours that an element of phase two, known as “Phase 2b”, may be scrapped due to lack of funding.
... This part of the network, which aims to be completed by 2033, would run from the West Midlands to Leeds, running through parts of Derbyshire, with the East Midlands region served by a station at Toton.
See More

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent.
The rate has stayed at this level since it was raised from 0.50 per cent in early August last year.
The MPC, according to the minutes, believes that the economic outlook hinges “significantly” on Brexit, and is prepared to respond to its outcome in a way that “would not be automatic and could be either direction.”
... Santander chief economist Frances Haque says: “The decision to hold rates was widely expected by both the market and commentators, given the continued uncertainty around Brexit.”
See More

A Taiwanese airline has signed a deal worth hundreds of millions of pounds that will see Derby’s Rolls-Royce supply engines to power a fleet of new aircraft.
Starlux Airlines has signed an agreement for 17 Airbus A350 XWB aircraft, which are exclusively powered by Rolls-Royce’s Trent XWB engine.
The deal also includes a TotalCare agreement, which will see Rolls-Royce look after the engines throughout their service life.
... The exact cost of the contract has not been disclosed but it is thought to be worth hundreds of millions of pounds to Rolls-Royce, which has its civil aerospace division based in Sinfin.
See More

Data collected by Moneyfacts shows that the number of residential mortgages which have a maximum term of 40 years is rising.
In the last five years, the number of available mortgages of this type has increased from 1,096 to 2,604, going from making up 35.93 per cent to 50.89 per cent of the residential mortgage market.
Furthermore, the figures show that within the same time frame, the quantity of mortgages with a 35-year term has also risen, from 1,118 to 2,221 – from compris...ing 36.66 per cent to 43.40 per cent of the market.
Meanwhile, the number of residential mortgages with 30- and 25-year terms has decreased in the last five years.
The latter has fallen from 606 to 140, representing a decline from 19.87 per cent to 2.74 per cent of the residential mortgage market, and the former has decreased from 230 to 152 – from 7.54 per cent to 2.97 per cent.
Additional data collected by Moneyfacts shows that 71 per cent of all residential mortgages can end when the borrower is 75, whereas five years ago this figure stood at 52 per cent.
Moneyfacts finance expert Darren Cook comments: “Historically, a standard mortgage term generally amounted to a period of 25 years. By extending their mortgage term, borrowers may be looking to reduce their monthly repayments and therefore are more likely to meet strict affordability requirements.
“It also appears that mortgage providers are permitting extended maximum mortgage terms of up to 40 years in conjunction with extending the maximum age that a borrower may be at the end of a mortgage.
“A longer-term mortgage may reduce the monthly repayments of a mortgage, however, the additional interest that accumulates over an extended mortgage term could be considerable.”
See More

Plans to build 175 homes and a community hall on land at a Derbyshire village that was once occupied by a prisoner of war camp has been tipped for approval.
Back in September, Garner Holdings applied to Amber Valley Borough Council to build the properties on a 15-acre site, in Spanker Lane, at Nether Heage, between Belper and Ripley.
During the Second World War the site was used as a prisoner of war camp known as “Camp 58”. After the war ended, the area was developed into an ...industrial site known as Firs Works.
The housing scheme would provide a mix of one, two, three and four bedroom properties, including terraced, semi-detached, detached, bungalows and apartments.
They would be available for sale on the open market, while a proportion would be classed as “affordable housing”.
See More

House prices grew in the 12 months leading to February by 2.8 per cent, according to Halifax, leaving the average house price at £236,800.
On a monthly basis, the lender reports prices rising by 5.9 per cent. Last week, Nationwide recorded a 0.1 per cent decline over the same time period.
The Halifax adds that house prices rose 1.8 per cent on a quarterly basis, meaning that all three metrics grew together for the first time since October 2018.
... Yomdel chief executive Andy Soloman comments: “Much like the wider political spectrum, a drastic monthly increase of almost 6 per cent will no doubt confuse many who have otherwise been told we are in the midst of a complete market slowdown.”
James Pendleton founding director Lucy Pendleton says: “The difference between the Halifax index and the Land Registry figures is crucially important here.
Pendleton goes on to say that the numbers are based on agreed mortgage deals. She adds, “these [Halifax’s] buyers know they are going to be able to pull out of the deal if Brexit goes bad and the economic outlook rapidly deteriorates.”
Meanwhile, Housesimple chief executive Sam Mitchell says: “The Brexit doom-mongers have been sounding the death knell for the UK property market louder than ever.
“But they are talking down a market that has proven itself over the past few years to be unwavering in the face of some pretty stern economic headwinds.
“And with record low levels of unemployment, positive wage growth, rock bottom interest rates and plenty of cheap mortgages around, the UK’s economic fundamentals are solidly placed to handle the buffeting that lies ahead.”
Mortgage Advice Bureau head of lending Brian Murphy says: “Anecdotal reports from across our network in terms of activity last month corroborate with this and suggest that February was one of the busiest for the market that we have seen for some time in most areas of the country.
“However, there is a possibility that the current lack of stock in some regions is providing support for pricing, and therefore whilst today’s numbers make for an encouraging ‘feel good’ factor, as and when more sellers decide to list their homes in the coming months, it is possible that we may see pricing stabilise again.”
See More

Registered property transactions rose month-on-month from December to January, data collected by HM Land Registry shows.
In the first month of 2019, total registered transactions were at 99,372, up from the figure in December 2018, which stood at 88,785 – a 12 per cent rise.
On an annual basis, the total number of sales received for registration under freehold last month was 73,938, a 13.8 per cent decrease on January 2018, whereas newly built houses rose 4.6 per cent reachin...g 17,466.
Of the sales received for registration, 24,531 took place in January. The most expensive residential home was a terraced property in Kensington and Chelsea, which sold for £12.6m. In contrast, the cheapest residential property was in Country Durham, which went for £17,000.
The commercial sale that commanded the highest value was in Camden, at £32m. The cheapest was recorded in Bristol – £100.
It must be noted that there is a time difference between the sale of a property and its registration at HM Land Registry, typically between two weeks and two months.
See More

The Bank of England thinks we could get through a disorderly scenario, and we will if we are flexible, come together and maintain standards
It has been quite impossible for some time to write any update about the bridging market without leading on Brexit and the outcome it will have on property transactions and prices, employment levels, funding and interest rates.
There are few elements of the market that will not be impacted, so we must all hold on, waiting to see what will...
Continue Reading

The inflation rate coming it at 1.8 per cent, a two-year low, has fuelled talk in some quarters of the Bank of England potentially reversing its recent direction and cutting interest rates.
Adding fuel to this is the fact that, despite the Monetary Policy Committee minutes that covered the last interest rate decision saying that policy would be tightened “at a gradual pace and to a limited extent,” recent remarks from MPC member Gertjan Vlieghe suggest the bank being open to ...a different direction.
In a speech given today at the Resolution Foundation, Vlieghe talks of how under the assumption that economist trends continue as they are today, upping the base rate by 0.25 per cent a year “seems a reasonable central case.”
However, he adds that “in the case of a no-deal [Brexit] scenario I judge that an easing or an extended pause in monetary policy is more likely to be the appropriate policy response than a tightening.”
See More