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Boost for Landlords as Buy to Let mortgages rise ๐Ÿš€

โœ… Research shows a small but encouraging increase in the number of BTL mortgages for investors ๐Ÿ“ˆ
โœ… Investors now have the highest number of deals to choose from since March 2020 ๐Ÿฅ‡
โœ… 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 ๐Ÿ 

โŒ Be warned though, as average BTL borrowing rates are all currently in excess of their equivalents year-on-year โš 

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 ๐Ÿ†

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Regulation Regulation Regulation... Give me a break! ๐Ÿซ

Thank you to ARLA Propertymark for urging the Government to give Landlords a bit of a break! ๐Ÿซ

ARLA Propertymark have urged the Government to:

1๏ธโƒฃ Provide more time โŒš for Landlords to adhere to new rules - to ensure the sector is less likely to fall foul of regulations ๐Ÿฅ‡
2๏ธโƒฃ Appreciate the ongoing practical impact of the Coronavirus restrictions ๐Ÿšซ when asking Landlords to comply to regulations โœ… - this includes Tenants ๐Ÿ‘จ๐Ÿ‘ฉ who are self-isolating and therefore limited property access to carry out checks and/or maintenance work โ›‘๐Ÿ”งโ›๐Ÿงฐ
3๏ธโƒฃ For example: strongly pressing the Government ๐Ÿ› to allow Landlords leeway in checking smoke and carbon monoxide alarms before Tenants move in ๐Ÿงฏ (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 ๐Ÿ†˜

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EU Nationals and International renters on the decline ๐Ÿ“‰

EU Nationals and International renters ๐ŸŒ on the decline since the Brexit vote 4 years ago โŽ.

An analysis of the rental market by Goodlord has revealed a dramatic drop in the number of EU citizens taking up Tenancies โœ since 2017:

1๏ธโƒฃ From January 2017 to November 2020 the proportion of EU renters in England fell from 20 per cent to 14 per cent ๐Ÿ“‰

2๏ธโƒฃ International Tenants from non-EU countries are also down, from 13 per cent to 11 per cent ๐Ÿ“‰

3๏ธโƒฃ The proportion of renters with UK citizenship rose significantly from 66 to 74 per cent ๐Ÿ’น

Tom Mundy. COO of Goodlord says ๐Ÿ“ข, “There was no mass exodus ๐Ÿšข of EU citizens following the Brexit vote. Instead, we’ve seen a steady but marked decrease in the number of people from the EU ๐Ÿ‘ซ 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 โฌ However, this has not affected our occupancy rates ๐Ÿ”ผ and rents have continued to rise year-on-year ๐Ÿ“† since the summer of 2018 ๐Ÿ“ˆ.

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Latest investment opportunity

๐Ÿฅ‡ 1 transaction to acquire all units
๐Ÿฅ‡ 4 x Luxury Apartments: Oxford Street NG1 5BH
๐Ÿฅ‡ Freehold on the entire building 
๐Ÿฅ‡ All let 
๐Ÿฅ‡ Current monthly rental income = £4,145

๐Ÿ  3 bedroom currently rented at: £1250 (unfurnished)
On the market value: £325,000
๐Ÿ  2 bedroom currently rented at: £1250 (unfurnished)
On the market value: £275,000
๐Ÿ  2 bedroom currently rented at: £895 (unfurnished)
On the market value: £155,000
๐Ÿ  1 bedroom currently rented at: £750 (unfurnished)
On the market value: £145,000

๐Ÿ“ข Total value £900,000 - our client will accept offers in the region of £830,000 โœ…

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If you would like to discuss any of these articles in more detail ๐Ÿ” or have any questions โ“โ” - my team and I work extremely hard on maximising rental income โœ… whilst ensuring all the legals are taken care of ๐Ÿ“‹: all day, every day ๐Ÿ†.. and we like having conversations too ๐Ÿ’ฌ

Please get in touch, we would love to hear from you.

Sincerest regards, Ali ๐Ÿ˜Š

Posted one month ago
by Ali Baylav Managing Director Cavendish Residential

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