The Guardian’s Post

First went the bank branches. Many of these got turned into pubs. Now their disused offices are being turned into social housing. Could banking go fully virtual? It is ultimately a digital service these days…. #housing #socialhousing #housebuilding #banking #finance #facilitiesmanagement

🏡  Fascinating initiative by Lloyds Banking Group, converting its disused offices into social housing https://lnkd.in/dBhskHzN A few key points: 🤝 The disused Pudsey office will be sold to a local housing group 📉 80 homes will be rented at 50% of market rate 📣 Recognition of the consistent demand for affordable housing, and invitation to other co-investors (insurers / pension providers) 💡 Affordable rents can make it easier for people to save up a deposit to eventually buy a home. Lloyds is the UK's largest mortgage lender. Affordable housing is a human right and the bedrock for a thriving, successful society. Great to see large-scale investors developing ways in which they can become part of the solution Delilah Rothenberg Alice Haugh Julieta Perucca

🏠 Lloyds Banking Group Leads Innovative Housing Solution Lloyds Banking Group is turning disused office sites into social housing, hopefully setting a precedent for innovative urban development and development of affordable and social homes, supporting the government's ambitious housing targets and emphasizes the importance of sustainable, creative solutions in addressing housing shortages. Hopefully this is just the start of such schemes that can gain wide spread traction across the UK #HousingCrisis #LloydsInitiative #SocialHousing #Sustainability https://lnkd.in/eTzM8JK8

🏠 Exciting News! 🏠 Today, I wanted to highlight a fantastic solution provided by Aham Housing Finance. As a leading lender in the market, Aham Housing Finance is dedicated to solving a significant problem faced by many individuals - the dream of owning a home. 🔑 The first issue Aham Housing Finance addresses is the time it takes for a customer to realize their dream of buying a home. By offering tailored solutions and personalized support, Aham Housing Finance assists customers in achieving their dream of becoming a homeowner in just three years. Imagine being able to enjoy the comfort and security of your own home much sooner than expected! 💰 Aham Housing Finance also focuses on bringing financial discipline and promoting healthy banking habits among its customers. Through educational initiatives and expert guidance, they ensure that customers become more aware and knowledgeable about managing their finances effectively. This not only helps them acquire their dream home but also enhances their overall financial well-being. 🌟 Moreover, Aham Housing Finance aims to improve customers' standard of living. By providing flexible loan options, they empower individuals to upgrade their current living conditions, moving into homes that better suit their needs and preferences. This boost in living standards positively impacts both the individuals and their families. 🏦 Additionally, Aham Housing Finance also plays a vital role in the market by spreading awareness. Many eligible borrowers are not aware that they can access financial assistance. By actively making themselves known, Aham Housing Finance ensures that those who are eligible get the chance to fulfill their dream of homeownership. ✅ Lastly, by reaching out to new customers, Aham Housing Finance continues to expand its clientele, opening doors for more individuals to experience the joy of homeownership. This growth benefits not only the borrowers but also the economy as a whole. Join me in celebrating Aham Housing Finance's remarkable efforts in solving the housing dilemma and making homeownership dreams a reality. 🌟 #AhamHousingFinance #HomeownershipDreams #FinancialWellbeing #DreamHome #RealEstate #BankingHabits #StandardOfLiving #Awareness

NatWest Group Announces New £5bn UK Social Housing Sector Lending Ambition Robert Begbie, CEO, Commercial & Institutional Banking, NatWest Group said: “We are proud to be a major lender to the UK social housing sector, which continues to deal with multiple priorities such as the demand for new and upgraded housing, and the critical challenges of energy efficiency, fire and tenant safety. In 2023, we completed nearly £3bn of new funding to help more people and families have access to housing. We support around 200 housing associations across the UK, and are proud to announce our ambition to provide a further £5billion in funding to support the housing association sector by the end of 2026.” https://lnkd.in/ejUj8eQ3 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Perhaps we need to think differently…? If we are to resolve Ireland’s current housing shortage we have to think differently. As this excellent article explains its not just about supply or lack of. There’s also the demand side. It’s also about how Irish residential property is financed. And it’s not just about the developers end which this article concentrates on. It extends beyond that confined analysis. The article states- “The last group is rented accommodation. Not everyone wants to buy. A significant slice of the new homes being built every year will have to go to renters. The natural funder of private rented accommodation is institutional investors” Well #dwellr we don’t believe that. It’s more that Irish mortgage financing hasn’t caught up with a new Ireland. Its operating and resourced at 1990’s levels. Its mortgage system is antiquated unable to deal with very different borrowers in a new and bigger Ireland. And nobody asked the question, that if as the banks say they are at full tilt, how would they have the capacity to deliver twice the current level of mortgages without increasing the dominance they currently enjoy further? It’s for this reason institutional investors have come to party. Whilst the fundamental demand side issue is a lack of new competition, #dwellr and its peers believe that it doesn’t have to be this way. Why should institutional investors dominate the funding of rental property when a cash buyer would be every bit as attractive to developers? Why do customers get declined by banks, and are asked for larger than normal down payments, because like immigrants, self employed etc they may need a little more time to get mortgage ready? We believe that initiatives like #dwellr lease to own product can make a difference. Again, perhaps we need to think differently, with greater emphasis on the demand side of this social problem to crack it, not rely on grey institutional investors.

Steep price rises in all areas of the housing market, from home ownership to renting, are creating additional burdens on already-pressured household budgets across the UK. Renters, in particular, are increasingly vulnerable to the rising cost of living, with multiple advice agencies (Citizens Advice Bureau, StepChange Debt Charity, Christians Against Poverty) all reporting that renters, both private and social, are the largest group receiving advice. The median private rent across the UK in April 2024 stood at £1,293 per month (£15,500 annually) while in London this figure was £2,070 per month (£24,840 annually). Meanwhile, house prices continue to rise, with HM Land Registry noting a 1.8% increase in the average UK house price in the year to February 2024. This has had a knock-on effect on mortgage debt, as the average full-time UK employee can expect to spend around 8.3 times their annual earnings on purchasing a home. In March 2024, 21.8% of UK adults reported that they were finding it either fairly or very difficult to manage financially, with increasing signs of housing indebtedness. Both mortgage and landlord possession orders are on the rise, with the equivalent of 199.5 landlord possession orders made every day in Q1 2024. . . . . . . . . . . . #finance #commercialfinance #businessloan #sme #smallbusiness #business #ltdcompany #soletrader #assetfinance #invoicefinance #factoring #motorfinance #propertyfinance #mortgages #buytoletmortgage #buytolet #btlmortgage #btl #bridgingloan #developmentloan #propertydevelopment #bridgingfinance #developmentfinance #equityrelease #property #propertyrefinance #estateagents #hmo #holidaylets #remortgage

Market Insights from the desk of Jonah Muzyka, Director of Mortgage Origination Western Canada at Cameron Stephens Mortgage Capital: “The recent barrage of headline-making moves from the Federal Government to stimulate housing growth have left little room for doubt that this issue has graduated from an urban eccentricity to a national crisis with election implications. Notably, the conditional pause of self-assessed GST on rental projects gave development pro-formas across the country a notional 5% (of value) savings. This is a significant change to tax policy though whether it will yield a significant number of new rental units remains to be seen given the recent inflation of cost items elsewhere in most development budgets. In an acknowledgement that the Provinces have been ineffective at managing their municipal partners when it comes to housing policy, the Federal Government launched the Housing Accelerator Fund, a $4BN initiative that offers cities direct Federal funding in return for commitments to growth targets, accommodating planning policies and concrete proposals to achieve expedited housing delivery. To date, deals have been struck with London, ON ($74M), Hamilton, ON ($93.5M), Halifax, NS ($79M) and others. Over 540 applications have been submitted as of writing from interested municipalities which suggests a strong appetite to trade funding for zoning concessions and process improvements. Finally, the CMHC continues its critical work of offering both standard loan insurance programs, as well as more exotic and tailored offerings like the MLI Select and RCFI programs in hopes of stimulating rental housing growth in key markets across the country. Taken wholistically, there’s little doubt that the Federal Government has laid down the gauntlet on housing policy reform and are willing to throw material funding at the problem. That’s encouraging and overdue, but it won’t amount to the kind of radical change needed to solve this generational crisis until we see similar action at the Provincial and Municipal levels.” Contact us to discuss all the ways we can work together at www.CameronStephens.com #Finance #FinancingFromTheGroundUp #CSmortgageCap #FallForecast #ThoughtLeadership #development #realestatedevelopment #realestate #builder #developer #financing #nonbanklender #lender #mortgageinvestments #financingsolutions #equitycapital

Joshua Ure, CEO and Head of Property, InvestMentor and I have been chatting today. I relayed one conversation earlier today regarding interest rates. It reminds me of the five categories of households I first identified in 2023H2 … “it’s really a tale of two demographics”, as Joshua notes. “Boomers are booming, and their consumption is through the roof. Everyone else is belt tightening and struggling (to some degree) through it all. On the finance side - Borrowing capacities for everyday people are getting smashed by the banks due to serviceability requirements, higher cost of living assessments and higher expenses so no new supply housing being brought on in the Greenfields in Sydney, Melbourne and Brisbane. My feeling is migration will get turned off to ease the pressure as it’s too hard to get the housing required. A bad outcome for the country.” I concur with all of that: As I've said before, Joshua, we are in a mess. Your finance point is a good one. I have five groups of Australian households: the homeless and those living below the poverty line; renters and mortgagees struggling with affordability and cost of living pressures, including mortgage holders who took up extremely low rates but are hitting obstacles to meeting their principal repayments coming off fixed loans; those that are well down the road of paying off a mortgage because they managed to get ahead in and around COVID but are still facing cost of living constraints; and those that own their home outright or are on a high, secure income and can comfortably afford to rent. #economics #Ausbiz #creditorwatch #hia

Great initiative . This initiative will require all our support to succeed and wisdom from them will be to engage with with stakeholders that have been involved in this sector for long. This is such a dynamic sector with lots of risks and uncertainties along the way. One of the biggest threats to the sector right now is this cancer of construction mafias that is destroying emerging construction enterprises