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Wednesday, October 06, 2010

The ex-factor on rental demand

I've just been reading that a Yorkshire based letting agent, Linley & Simpson has seen a record number of tenants searching for rental property.

According to the letting agent the peak in demand is thanks to the break down of relationships.

“We call it the ‘Ex-Factor’ and it seems to peak at this time of year. Many couples in relationship difficulties have tended to stay together for the sake of their children during the long summer holidays, and start of the new school term. "

“But with those pressures now behind them, they are deciding that now is the time to split up and try to move on – which ultimately leads to one of them moving out.”

Who said landlords and letting agents weren't romantic.

Only kidding, - it's all very sad, try and stay together and work things out, keep talking and make your focus making your partner happy.

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UKs largest landlord - positive

 Grainger Plc the UK's largest quoted residential landlord which has a portfolio of 13,000 residential properties has spoken encouraging about the prospects for it's residential portfolio.

The company which issues it's full year results in late November expects to outperform the UK residential market.

The residential portfolio is made up of about half of their properties located within London and the south east of England is expected to benefit from the relative strength of those markets.

Grainger has traditionally invested in regulated tenancies and has recently brought Sovereign Reversion a specialist residential investor that acquired property assets at a discount to vacant possession value and allows the owners to release equity in their homes.


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Tuesday, October 05, 2010

Landlord fined for no licence

A Leeds landlord has been fined £3000 after failing to obtain the required licence in an area that was designated as an area of selective licensing last October.

The Cross Green and East End Park area in Leeds now requires all owners of privately rented properties to hold a special licence to operate the rental of their properties.

Read more here

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Reading landlords accreditation

Reading Borough Council cabinet decided last Monday to swap its local landlord accreditation scheme, which was under review, and instead support a proposal to get the National Landlord Association (NLA) to deliver its own scheme in the borough.

Read more here

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BTL mortgages - most popular

Looking for a buy-to-let mortgage? Visit www.propertyhawk.co.uk and save time and money!

Our free online buy-to-let mortgage service aims to provide you with the most competitive buy-to-let mortgages in the market, whilst helping you choose a product to suit your individual requirements. You can use the free buy-to-let mortgage finder to get an instant personalised quote and apply for your mortgage online. There are no broker fees charged for this service so you could save yourself considerable time and money when arranging your next buy-to-let mortgage.

Below is a selection of the most popular buy-to-let mortgages currently available. For full information on these products, and all other buy-to-let mortgage schemes available to you, please visit www.propertyhawk.co.uk and click on Mortgages to use the free online buy-to-let mortgage finder. If you would like to discuss your requirements with a member of the support team please telephone 029 2069 5446.

Most popular buy-to-let mortgages
Interest RateOverall Cost for ComparisonMax LTVProduct DetailCompletion FeeEarly Repayment Charges
2.99% Fixed5.3% APR60%Fixed rate of 2.99% until 30/11/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and there is a rental calculation of 125% at a notional rate of 4.99%. An application fee will apply.3.5% (min £595)5% of amount being repaid until 30/11/2011
3.88% Tracker4.1% APR75%Variable tracker rate of BBR + 3.38% for the lifetime of the loan. This product is available up to 75% LTV and there is a rental calculation of 100% at a notional rate of 8.5%. An application fee will apply. Available on a repayment basis only and for loans up to £150,000. The completion fee is payable at offer stage.£16951% of original balance being repaid for 1 year
4.35% Tracker5.1% APR75%Variable tracker rate of BBR + 3.85% for 1 year then reverting to a variable rate of BBR + 4.19% to give a current rate of 4.69% for the remainder of the term. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply.3%3% of amount being repaid for 1 year
4.49% Tracker5.2% APR60%Variable tracker rate of BBR + 3.99% until 30/11/2012 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 60% LTV and the rental calculation is 125% a 4.99%. An application fee will apply.£9994% of original balance being repaid until 30/11/2012
4.8% Tracker5.5% APR75%Variable tracker rate of LIBOR + 4.00% for 2 years then reverting to the lender's standard variable rate of 4.60% + 0.25% = 4.85% to the end of year 5, then for the remainder of the term, the lender's standard variable rate of 4.60% + 0.75% = 5.35%. The product is available up to 75% LTV and the rental calculation is 130% at 7%. Please note that the completion fee will increase by 0.25% on applications for HMOs, freehold houses split into flats and limited companies. An application fee will apply.2.25%3% of amount being repaid for 2 years
4.89% Fixed5.1% APR60%Fixed rate of 4.89% until 30/09/2012 then reverting to the lender's standard variable rate which is currently 4.74% for the remainder of the term. There is a free valuation up to £680 for purchases and remortgages and free legals for remortgages only. This product is available up to 60% LTV and the rental calculation is 125% at payrate. There is a £250 booking fee and an application fee will apply.£14994% of amount being repaid until 30/09/2012
4.99% Fixed5.5% APR80%Fixed rate of 4.99% until 30/11/2011 then reverting to the lender's standard variable rate which is currently 4.99% for the remainder of the term. This product is available up to 80% LTV and there is a rental calculation of 125% at payrate. An application fee will apply.3% (min £595)5% of amount being repaid until 30/11/2011
5.34% Fixed5.3% APR70%Fixed rate of 5.34% until 31/01/2013 then reverting to a variable rate of BBR + 4.50% to give a current rate of 5.00% for the remainder of the term. This product is available up to 70% LTV and the rental calculation is 125% at a notional rate of BBR + 4.50%. An application fee will apply.£14953% of the amount being repaid until 31/01/2012, then 2% of the amount being repaid until 31/01/2013
5.4% Fixed5.3% APR75%Fixed rate of 5.40% until 01/02/2013 reverting to a variable rate of BBR + 4.24% to give a current rate of 4.74% for the remainder of the term. This product is available up to 75% LTV and there is a rental calculation is 125% at payrate. An application fee will apply.2.5%3% of amount being repaid until 01/02/2013
5.45% Fixed5.7% APR75%Fixed rate of 5.45% until 31/10/2012 then reverting to the lender's standard variable rate which is currently 5.39% for the remainder of the term. There is a refund of valuation (up to £500) and free legals for remortgages. This product is available up to 75% LTV and the rental calculation is 125% at payrate. An application fee will apply.1.25%2% of amount being repaid until 31/10/2012

IMPORTANT! Due to current market conditions, lenders are withdrawing and replacing products with little or no notice.
Please check our website regularly to see the most up-to-date products available.

Please visit www.propertyhawk.co.uk and click on Mortgages to search the full product range and find a buy-to-let mortgage to suit your specific personal circumstances.

Email: info@propertyhawkbtlmortgages.co.uk

Tel: 029 2069 5446

Your home may be repossessed if you do not keep up repayments on your mortgages. The Financial Services Authority does not regulate some forms of mortgage.

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Student investment - 12% yield

Landlord interested in a high yield buy-to-let investment should check out this student let in Scarborough for sale through Allsop. It comes with a 12% gross rental yield & is fully HMO compliant.

Carlton House, 1-3 Carlton Terrace, Scarborough
Fully Let Freehold Investment:

*Freehold
*29 en-suite bedrooms let to The University of Hull Head Leasing Services (fully HMO compliant)
*3 self-contained flats let on ASTs Gross *Annual Income - £87,465 Gross Initial Yield in excess of 12%

Offers are sought in excess of £725,000 Subject to Contract

For more information, please contact:

James Wilson
Email: james.wilson@allsop.co.uk
Tel: 0113 236 6679

Michael Gorman
Email: michael.gorman@allsop.co.uk
Tel: 0113 236 6683

Price beating portfolio landlord insurance



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