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Wednesday, October 09, 2013
A full and proper evaluation of HTB
This article in Mindful Money tries to give a fair assessment of the new Help to Buy Scheme - worth a read if you've got five minutes.
London rents to fall thanks to HTB
London estate agency, Chesterton Humberts, is predicting that London rents could fall by five percent during the three year period the Help to Buy Scheme is set to run.
I'm not particularly convinced by the logic, but Chesterton Humberts are theorising that the increased supply of FTBs will free up rental property, therefore better fulfilling demand with the increased supply, leading to a downward pressure of rents.
Richard Davies, residential operations director at Chesterton Humberts, said: "More landlords may find their tenant(s) giving notice as they move away from the private rented sector and into home ownership."
Well, it's a theory.
I'm not particularly convinced by the logic, but Chesterton Humberts are theorising that the increased supply of FTBs will free up rental property, therefore better fulfilling demand with the increased supply, leading to a downward pressure of rents.
Richard Davies, residential operations director at Chesterton Humberts, said: "More landlords may find their tenant(s) giving notice as they move away from the private rented sector and into home ownership."
Well, it's a theory.
Or at least a guess.
Does anyone else have any theory/guess on the effects of the Help to Buy on the property market?
Landlord insurance - professional rates
Landlord insurance - professional rates
World building of the year
For those landlords who enjoy architecture the Telegraph have a photos of the finalists for this years 'World Building of the Year'.
And the winner is ... Auckland Art Gallery, designed by Francis-Jones Morehen Thorp and Archimedia.
Landlord insurance - professional rates
And the winner is ... Auckland Art Gallery, designed by Francis-Jones Morehen Thorp and Archimedia.
Landlord insurance - professional rates
Rents continue to surge
Buy-to-let rents continue to surge according to our very own Rentindex. They seem set to break the £640 pcm for the very first time having climbed steadily during the year. Rents have gained 2.7% over the last 12 months and are up over 3% alone over the last 3 months.
Why we like the Rentindex
There are plenty of other residential rent indices which give average figures for rents and chart their changes over the last few month. However, we particular like our rent index because it gives we feel a realistic representation of rents across the whole of England & Wales. Most landlords outside London would only dream at an average rent of £743. Obviously, the likes of LSL property services who prepare a rent index with data using their landlords who have opted to use a letting agent to at least let if not manage their property. The Rentindex uses data from landlords who rent out their property themselves. These DIY landlords sometimes reflect more realistically what is going on across the regions and for landlords of all walks of life not just high rolling landlords from Central London.
Seasonal rent changes
We are preparing ourselves for the seasonal drop in residential rents which normally turns down from late Autumn until recovering in Spring. So don't panic it looks like that rents will continue their rise even if in real terms rents have been falling.
Landlord insurance - professional rates
Why we like the Rentindex
There are plenty of other residential rent indices which give average figures for rents and chart their changes over the last few month. However, we particular like our rent index because it gives we feel a realistic representation of rents across the whole of England & Wales. Most landlords outside London would only dream at an average rent of £743. Obviously, the likes of LSL property services who prepare a rent index with data using their landlords who have opted to use a letting agent to at least let if not manage their property. The Rentindex uses data from landlords who rent out their property themselves. These DIY landlords sometimes reflect more realistically what is going on across the regions and for landlords of all walks of life not just high rolling landlords from Central London.
Seasonal rent changes
We are preparing ourselves for the seasonal drop in residential rents which normally turns down from late Autumn until recovering in Spring. So don't panic it looks like that rents will continue their rise even if in real terms rents have been falling.
Landlord insurance - professional rates
Monday, October 07, 2013
Tenant arrears drop according to LSL
The latest Tenant Arrears Tracker figures from LSL Property Services, surprisingly show a sharp fall.
The number of private tenants classed as being in severe arrears (two months or more behind on their rent) is now at the lowest level for two years. The figure for Q£ 2013 dropped to 69,000, – a 34 per cent drop from the 92,000 for the same period a year ago.
Private renters in serious arrears now represent 1.7 per cent of all tenancies in England and Wales, down from 2.4 per cent in the previous quarter.
David Brown, commercial director of LSL Property Services, believes this is due to improving tenant finances due to investment in the private rented sector and inflation slowing. ‘Investment in the private rented sector is accelerating. That’s helping to keep supply growing of homes to let. And in turn, better supply is the only real way to keep rental inflation under control,'
He went on to say ‘Over the last quarter, rents have consistently risen more slowly than shop prices, and wages and rents are now growing at a similar annual rate. Recently, that seems to have really helped tenants under financial pressure. But ultimately, many more homes will be needed for them to keep going round at an affordable rate.’
Private renters in serious arrears now represent 1.7 per cent of all tenancies in England and Wales, down from 2.4 per cent in the previous quarter.
David Brown, commercial director of LSL Property Services, believes this is due to improving tenant finances due to investment in the private rented sector and inflation slowing. ‘Investment in the private rented sector is accelerating. That’s helping to keep supply growing of homes to let. And in turn, better supply is the only real way to keep rental inflation under control,'
He went on to say ‘Over the last quarter, rents have consistently risen more slowly than shop prices, and wages and rents are now growing at a similar annual rate. Recently, that seems to have really helped tenants under financial pressure. But ultimately, many more homes will be needed for them to keep going round at an affordable rate.’
Landlord insurance - professional rates
Most popular BTL mortgages
| Max LTV | Initial Rate | Term | Completion fee | Booking fee | Incentives | Overall Cost for Comparison | Lender |
| 85% | 5.99% Discount | 2 Years | 2.5% | £130.00 | No | 7% APR | Kent Reliance Multi Let & Ltd Co. Semi Exclusive |
| 85% | 4.99% Fixed | 2 Years | 2.5% | £130.00 | No | 6.8% APR | Kent Reliance Semi Exclusive |
| 80% | 4.59% Discount | 2 Years | 2.5% | £130.00 | No | 6.7% APR | Kent Reliance Semi Exclusive |
| 80% | 4.95% Discount | 2 Years | 0% | £0.00 | One free standard valuation for properties up to £250,000. If the property is worth more than £250,000 then there will be a £240 contribution towards the valuation | 5.3% APR | Hanley Economic |
| 75% | 4.39% Discount | 2 Years | 1.5% | £130.00 | No | 6.5% APR | Kent Reliance large loan |
| 75% | 2.88% Tracker | 2 Years | 2.5% | £150.00 | Free valuation for purchases and remortgages & free legals on remortgages | 5.3% APR | Mortgage Trust ltd Edition Exclusive |
| 75% | 4.49% Discount | 2 Years | 2% | £130.00 | No | 6.6% APR | Kent Reliance Ex-pat |
| 75% | 3.99% Discount | 0 Years | £995 | £0.00 | One free standard valuation for properties up to £250,000. If the property is worth more than £250,000 then there will be a £240 contribution towards the valuation | 4.1% APR | Hanley Economic |
| 60% | 2.45% Discount | 2 Years | £1950 | £250.00 | One free Valuation on properties valued up to £1,000,000 | 5% APR | Hinckley & Rugby Exclusive |
Tel: 01494 894639
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