Boost for Landlords as Buy to Let mortgages rise 🚀
✅ Research shows a small but encouraging increase in the number of BTL mortgages for investors 📈
✅ Investors now have the highest number of deals to choose from since March 2020 🥇
✅ There are now 1,976 BTL products on offer - especially positive for investors with lower deposits as this growth has extended to the higher-risk 80 per cent LTV bracket 🏠
❌ Be warned though, as average BTL borrowing rates are all currently in excess of their equivalents year-on-year ⚠
If you are considering entering the BTL market, please contact us so that we can connect you with qualified advisers that are 100% abreast of all products and services 🏆
Regulation Regulation Regulation... Give me a break! 🍫
Thank you to ARLA Propertymark for urging the Government to give Landlords a bit of a break! 🍫
ARLA Propertymark have urged the Government to:
1️⃣ Provide more time ⌚ for Landlords to adhere to new rules - to ensure the sector is less likely to fall foul of regulations 🥇
2️⃣ Appreciate the ongoing practical impact of the Coronavirus restrictions 🚫 when asking Landlords to comply to regulations ✅ - this includes Tenants 👨👩 who are self-isolating and therefore limited property access to carry out checks and/or maintenance work ⛑🔧⛏🧰
3️⃣ For example: strongly pressing the Government 🏛 to allow Landlords leeway in checking smoke and carbon monoxide alarms before Tenants move in 🧯 (as opposed to on the actual Tenancy Start Date)
If you have any questions about your legal responsibilities as a Landlord, please contact us for guidance 🆘
EU Nationals and International renters on the decline 📉
EU Nationals and International renters 🌍 on the decline since the Brexit vote 4 years ago ❎.
An analysis of the rental market by Goodlord has revealed a dramatic drop in the number of EU citizens taking up Tenancies ✍ since 2017:
1️⃣ From January 2017 to November 2020 the proportion of EU renters in England fell from 20 per cent to 14 per cent 📉
2️⃣ International Tenants from non-EU countries are also down, from 13 per cent to 11 per cent 📉
3️⃣ The proportion of renters with UK citizenship rose significantly from 66 to 74 per cent 💹
Tom Mundy. COO of Goodlord says 📢, “There was no mass exodus 🚢 of EU citizens following the Brexit vote. Instead, we’ve seen a steady but marked decrease in the number of people from the EU 👫 moving to England over the last four years".
We at Cavendish Residential have certainly seen a decline in the number of overseas applicants in Nottingham ⏬ However, this has not affected our occupancy rates 🔼 and rents have continued to rise year-on-year 📆 since the summer of 2018 📈.
Latest investment opportunity
🥇 1 transaction to acquire all units
🥇 4 x Luxury Apartments: Oxford Street NG1 5BH
🥇 Freehold on the entire building
🥇 All let
🥇 Current monthly rental income = £4,145
🏠 3 bedroom currently rented at: £1250 (unfurnished)
On the market value: £325,000
🏠 2 bedroom currently rented at: £1250 (unfurnished)
On the market value: £275,000
🏠 2 bedroom currently rented at: £895 (unfurnished)
On the market value: £155,000
🏠 1 bedroom currently rented at: £750 (unfurnished)
On the market value: £145,000
📢 Total value £900,000 - our client will accept offers in the region of £830,000 ✅
If you would like to discuss any of these articles in more detail 🔍 or have any questions ❓❔ - my team and I work extremely hard on maximising rental income ✅ whilst ensuring all the legals are taken care of 📋: all day, every day 🏆.. and we like having conversations too 💬
Please get in touch, we would love to hear from you.
Sincerest regards, Ali 😊
Posted 03 February 2021
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