The York based popular house builder and property developers Persimmon Homes have announced that 2011 matched the performance of 2010. The company has benefitted from improved conditions in the world of speculative development funding with this having a positive impact on margins and profits. While the business has reduced borrowings it has also enlarged its land bank. A very impressive performance considering market conditions and the troubles of many of its competitors. The company should be further bolstered this year as the whole of the property and construction industries look forward to the effects of 95% loan to value mortgages.
Mortgage funding for new build development
November 9, 2010
We all know that it is impossible for the UK to enjoy a healthy economy with the UK housing market in the doldrums. So why is it that the UK government and bankers are so keen to suppress the UK property market with low loan to value mortgages? We have enjoyed 95% mortgages for years for first time buyers and with the sudden death of the high loan to value mortgages first time buyers are feeling the pain. With the average UK new build home creating on average six new jobs there is a real advantage to getting new build property developments funded and built out.
