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Time Business News
30-06-2025
- Business
- Time Business News
Buy-to-Let Remortgage: When to Refinance for ROI
If you own a rental property, you must have thought sometime or the other that: 'Should I remortgage my buy-to-let property?' Well, you're not alone. In fact, with rates moving up and down and the market constantly changing, every smart landlord needs to think about this. Remortgaging isn't just a money-saving move; it's a strategy. One that can help you grow your property portfolio, increase your monthly profits, or just make your finances easier to manage. In this guide, we will walk you through how remortgaging works, the signs it might be time to refinance, and how to get your hands on the best buy to let mortgage deals UK landlords are using right now to boost returns. Why Even Bother Remortgaging a Buy-to-Let? You likely got a fixed rate on your buy-to-let mortgage for 2 to 5 years when you first got it. Most likely, you'll be switched to a Standard Variable Rate (SVR), which is more expensive, when that one ends. Remortgaging helps you: Avoid higher interest costs Free up some equity to invest in more property. Change your payment plan to one that includes payments and interest if that works better for your budget. Get a better return on your investment overall. When Should You Think About Remortgaging? There's no set date or magic formula, but there are a few signs that it might be the right time. 1. Your Fixed Rate Is About to End This is the big one. Once your fixed term ends, your lender will move you onto their SVR, and that can mean hundreds more per month in interest. Switching before that happens can save you a small fortune. 3. Interest Rates Have Dropped Mortgage rates don't stay still. If you took out your loan when rates were high, there might be cheaper options on the table now. And if you're serious about getting the best commercial mortgage rates UK lenders offer, this is definitely worth keeping an eye on. 4. You Want to Buy Another Property Many landlords use the equity they have in their current properties to buy new ones. You can get that money back by remortgaging. Just make sure the numbers add up, and you might want to talk to a commercial finance broker who knows about investment strategy. 5. Your Current Deal Just Isn't Working for You Maybe you find the terms in buy to let mortgage uk rigid, maybe the fees are too high. Or maybe you've just outgrown your current lender. Whatever the reason, switching could open the door to a better deal that fits where you are now and where you're going. Let's Check it Out: What Could You Save? Here's a quick example. Imagine you've got a best buy to let mortgage deals uk of £180,000 at 5% interest. That's £750 a month just on interest. Now imagine you remortgage at 3.8%. Suddenly, your monthly interest drops to £570. That's £180 in your pocket every month. Multiply that across a few properties and over the next few years… Well, you can see how remortgaging becomes a seriously powerful tool for boosting ROI. How Do You Get the Best Deal? Not only do UK landlords love the best buy-to-let mortgage deals, but you also have to do more than just look through comparison sites. You need to be ready. Here's how: Check your current mortgage term – Know when it ends so you can plan ahead. Get a fresh property valuation – Especially if the market's risen or you've made improvements. Know your LTV – Lower LTV often means better rates. Polish your credit score – Missed bills or credit issues can limit your options. Conclusion You should always think about refinancing, no matter how many rental homes you own or how long you've been a landlord. Getting a lower interest rate isn't enough; you also need to make sure that your investment makes money. The key? Don't wait until your lender pushes you onto their SVR. Be proactive. Stay informed. And if you're serious about getting access to the best commercial mortgage rates the UK has to offer, find a broker who knows the ropes. In today's market, smart remortgaging isn't just an option; it's a competitive advantage. TIME BUSINESS NEWS
Daily Record
30-06-2025
- Business
- Daily Record
New EDF tracker tariff cuts daily energy standing charges by £100
Low energy usage customers can also benefit from the savings under the fixed-term tariff. EDF is guaranteeing consistent savings to customers with its relaunched tracker tariff, Simply Tracker Extra Sep26, which discounts annual standing charges by £100. The fixed-term tracker tariff tracks Standard Variable prices and will undercut Ofgem's price cap by £100. Ahead of the new July price cap level coming into effect this week (July 1), EDF's tracker tariff guarantees savings of £50 per fuel on the price cap, with the discount applied through standing charges. Standing charges are fixed daily charges which cover the fixed cost of supplying electricity and gas to homes. By discounting standing charges instead of unit rates, all EDF customers who sign up to EDF's Simply Tracker Extra tariff will benefit from the same financial savings, even if they are low energy consumers. EDF has achieved the discount thanks to how it buys energy in advance, taking the savings made on energy costs and applying them to standing charges to ensure everyone can benefit. Based on the July 1 price cap level, the new tariff offers an annual average bill cost of £1,619 for a dual fuel customer paying by Direct Debit. Commenting on the tariff relaunch, Rich Hughes, Director of Retail at EDF, said: 'Although the price cap is dropping for July, our current predictions anticipate prices will rise again from July through to April 2026. 'Our price cap prediction for October has already increased by a further £63 since June 3. Given the continued volatility we're seeing in wholesale prices, we strongly advise customers to consider a fixed or tracker tariff. 'Our tracker tariff guarantees customers will always save £100 against the price cap, regardless of the changes to the energy price cap over the next year.' He added: 'By applying the discount through standing charges, we ensure that customers who are already working to improve their energy efficiency and reduce their carbon footprint still benefit from equal cost savings.' With only 35 per cent of customers currently on fixed tariffs, EDF's new tracker tariff provides an opportunity for widespread savings. EDF also offers a 12-month fixed tariff, Simply Fixed Jul26v12, which allows new and existing customers to lock unit rates and standing charges for one year at an average bill cost of £1,681 for a dual fuel customer paying by direct debit. To sign up to EDF Simply Tracker Extra Sep26, existing customers can do so through MyAccount online or the EDF app, or new customers can sign up on the website. The tariff is available to new and existing customers on Direct Debit, Cash Cheque and Pay As You Go for a limited time only. For an extra £50 off your energy bill, EDF customers and their friends can also sign up to 'Refer a Friend' via MyAccount online. Emily Seymour, Which? Energy Editor, said: 'Consumers will be relieved that the energy price cap will fall by 7 per cent from 1st July. The change to energy prices means that the summer could be a good time to shop around for fixed deals. As a rule of thumb, we'd recommend looking for deals cheaper than the price cap, not longer than 12 months and without significant exit fees. "If you are on a fixed deal from earlier in the year which leaves you paying more than the July price cap then you might be considering switching early. Check whether your contract has exit fees - if yours has no or low fees it could be worth changing to a new tariff. Some contracts charge large fees to leave early, which would cancel out any savings. "If you've not yet fixed a deal and your variable rates are changing from 1 July, submit a meter reading to ensure you pay the cheaper rates for any energy used after the new price cap takes effect."
Online Citizen
16-06-2025
- Business
- Online Citizen
Singapore civil servants to receive 0.4-month mid-year bonus with extra payment for junior officers
SINGAPORE: Civil servants in Singapore will receive a 0.4-month mid-year Annual Variable Component (AVC) bonus, the Public Service Division (PSD) announced on 16 June 2025. In addition, junior-grade officers will be given a one-time payment of up to S$400. The bonus amount follows close consultation with public sector unions and reflects the current economic performance and labour market outlook. Civil servants in grades equivalent to MX13(I) and MX14 will receive an additional one-time payment of S$250. Those in lower grades—MX15, MX16, and the Operations Support Scheme—will receive a higher one-time payment of S$400. The PSD stated that these figures were decided based on Singapore's first quarter economic performance and the anticipated challenges for the rest of 2025. Singapore's economy expanded by 3.9 per cent in the first quarter on a year-on-year basis. However, the Ministry of Trade and Industry has kept its GDP growth forecast for the year at between 0.0 and 2.0 per cent. This cautious outlook is attributed to continued global economic uncertainty and risks that remain skewed to the downside. On the labour front, advance data from the Ministry of Manpower showed moderating labour demand. Although employment continued to grow in the first quarter of 2025, the pace has slowed, and unemployment rates have edged up slightly since December 2024. The Ministry expects further softening of the labour market due to weakening business sentiment. In this context, the Government's decision to provide a smaller mid-year AVC compared to the previous year reflects a progressive approach. In 2024, civil servants received a mid-year bonus of 0.45 months and a year-end bonus of 1.05 months. By contrast, the 2023 mid-year bonus was 0.3 months. The PSD also noted that the Government and public sector unions will continue to jointly assess economic developments throughout the year. The final decision on the year-end AVC will take into account the guidelines to be issued by the National Wages Council later this year. This monitoring ensures that bonuses are aligned with the broader economic context and provide adequate support, particularly for lower-wage civil servants.
India Today
04-06-2025
- Automotive
- India Today
Hyundai Verna gets a new variant and wireless connectivity adapter
Hyundai Motor India Limited (HMIL) has expanded Verna's range by launching a new SX+ variant of the sedan, available in both manual and iVT (Intelligent Variable Transmission) options. The addition aims to offer customers a more premium and versatile driving experience in the midsize sedan Verna SX+ boasts a host of high-end features including a Bose premium 8-speaker sound system, leather seat upholstery, front ventilated and heated seats, LED headlamps, and front parking sensors. The new variant builds on Verna's futuristic design, advanced technology and a 5-star Global NCAP safety (Ex-showroom):Verna SX+ 1.5 MPi MT: 13,79,300Verna SX+ 1.5 MPi iVT: 15,04,300Alongside the new trim for the Verna, Hyundai also introduced a Wired to Wireless Adapter for seamless Apple CarPlay and Android Auto connectivity. The adapter is now compatible with seven Hyundai models including the Grand i10 Nios, Exter, Verna, Aura, Venue, Venue N Line, and Alcazar. Commenting on the launch, Tarun Garg, Whole-Time Director and COO of HMIL, said, "At HMIL, we are consistently driven by our vision of 'Progress for Humanity' and customer-centric innovation. The introduction of the new VERNA SX+ variant aligns with our goal to democratize premium features and elevate ownership experience for our customers. Additionally, the Wired to Wireless Adapter reaffirms our commitment to offering accessible and advanced connectivity solutions across our product range. We are confident that these interventions will be appreciated by our customers."advertisementThe Verna is offered with two engine choices. The first is a 1.5-litre MPi petrol engine that produces 115PS of maximum power and 143.8Nm of peak torque, paired with either a 6-speed manual transmission or an IVT automatic. The second option is a more powerful 1.5-litre Turbo GDi petrol engine, delivering 160PS and 253Nm of torque, available with a 6-speed manual or a 7-speed dual-clutch transmission (DCT).The 1.5 Turbo GDi variant is quick as it can accelerate from 0 to 100kmph in just 8.1 seconds. Subscribe to Auto Today Magazine
Scotsman
03-06-2025
- Business
- Scotsman
New mortgage rules explained, including how much you can now borrow and will house prices rise
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. The change could enable house buyers to borrow an extra £26,000, but it's likely to push up prices From gorgeous Georgian town houses to jaw-dropping penthouses, converted campervans to bargain boltholes. Take a peek at the finest homes across the UK. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Changes to mortgage affordability rules mean house buyers can now borrow around 13 per cent more This could help up to 80,000 more first-time buyers get on the property ladder, analysis suggests But it could push up house prices by as much as £19,000 New mortgage rules could help first-time buyers borrow up to £26,000 more, but they are expected to increase house prices | Photo by Ketut Subiyanto: New mortgage rules could help up to 80,000 first-time buyers take their first step on the property ladder, analysis suggests. But they could also push up the average house price by as much as £19,000, research by Savills shows. Advertisement Hide Ad Advertisement Hide Ad What are the new mortgage rules, and why have they changed? Mortgage lenders are required to carry out affordability checks on borrowers to ensure they can cope with interest rate rises or changes in their circumstances. But concerns were raised that the restrictions in place were unduly limiting the ability of some borrowers - especially first-time buyers - to secure loans even when the repayments were affordable. The Bank of England changed its guidance in March, meaning lenders are no longer required to 'stress test' borrowers at the Standard Variable Rate plus one per cent, if borrowers take on a fix of less than five years. The Financial Conduct Authority advised the same month that firms had the 'flexibility to design their test 'in a way that is appropriate for the customer's mortgage'. Advertisement Hide Ad Advertisement Hide Ad 'Many firms add a margin to the lender's current reversion rate,' it added. 'With interest rates currently falling this may be unnecessarily restricting access to otherwise affordable mortgages.' How have lenders reacted? A number of mortgage providers have already changed the way they apply the affordability test, increasing the amount buyers can borrow. Santander was the first to do so, at the end of March, reducing affordability rates by up to 0.75 per cent, which it said meant customers could borrow between £10,000 and £35,000 more than before. That meant first-time buyers with a joint income of £49,500 could now borrow up to £210,000, rather than £197,000, based on a two or three-year fixed mortgage, while existing homeowners earning a combined £63,500 could borrow up to £278,000, up from £260,000. Advertisement Hide Ad Advertisement Hide Ad Lloyds Banking Group, which owns Halifax, followed suit in mid-April, saying the changes meant typical customers could now borrow around 13 per cent more, which worked out at roughly £38,000 extra for a family with a household income of £75,000. HSBC said later that month that its own changes meant a first-time buyer would be able to borrow up to £39,000 more, while NatWest said a typical family would now be able to borrow up to £33,000 more. In May, Nationwide announced its own changes, which it said meant applicants could borrow on average £28,000 more. How much more can house buyers borrow? As you can see from above, how much more house buyers can borrow depends on the lender and their own circumstances. Advertisement Hide Ad Advertisement Hide Ad But Savills worked out that first-time buyers with a household income of £62,000 would be able to borrow an extra £25,900, which is 12.8 per cent more than before, if stress tested affordability is reduced from 8.25 per cent to 7 per cent. It said the relaxed lending rules were expected to increase the number of first-time buyer transactions by between 47,000 and 80,000, or 14-24 per cent. What impact will changes have on house prices? Savills has calculated that the new mortgage rules could cause house prices to rise by an extra 5 to 7.5 per cent over the next five years, on top of the increase already forecast for this period. 'Relaxed lending rules will certainly change the course of travel for the housing market in the medium to long term, but there will be a strong interplay between the extent to which house prices and first-time buyer transactions increase,' said Lucian Cook, head of residential research at Savills. Advertisement Hide Ad Advertisement Hide Ad 'The more increased borrowing capacity impacts prices, the less impact there will be on transactions.' He added that the impact would not be felt immediately but over the course of the next five years. The current uncertain economic outlook would likely make buyers less willing to take on substantially more debt in the short term, he said. Based on mortgage changes increasing borrowing capacity by £25,900 for first-time buyers with a joint income of £62,000, Savills said this could increase house prices by between 5 per cent and 7.5 per cent, or £12,950 to £19,425. Advertisement Hide Ad Advertisement Hide Ad Do you have a house hunting story or tips to share? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers. 🏠 Whether you're planning to move or just curious what your home is worth, Purplebricks offers free valuations and fixed-fee selling support from local experts. 👉 Request a valuation or browse current listings in your area.
