Boost for Landlords as Buy to Let mortgages rise ๐
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Research shows a small but encouraging increase in the number of BTL mortgages for investors ๐
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Investors now have the highest number of deals to choose from since March 2020 ๐ฅ
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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 ๐
โ Be warned though, as average BTL borrowing rates are all currently in excess of their equivalents year-on-year โ
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 ๐
Regulation Regulation Regulation... Give me a break! ๐ซ
Thank you to ARLA Propertymark for urging the Government to give Landlords a bit of a break! ๐ซ
ARLA Propertymark have urged the Government to:
1๏ธโฃ Provide more time โ for Landlords to adhere to new rules - to ensure the sector is less likely to fall foul of regulations ๐ฅ
2๏ธโฃ Appreciate the ongoing practical impact of the Coronavirus restrictions ๐ซ when asking Landlords to comply to regulations โ
- this includes Tenants ๐จ๐ฉ who are self-isolating and therefore limited property access to carry out checks and/or maintenance work โ๐งโ๐งฐ
3๏ธโฃ For example: strongly pressing the Government ๐ to allow Landlords leeway in checking smoke and carbon monoxide alarms before Tenants move in ๐งฏ (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 ๐
EU Nationals and International renters on the decline ๐
EU Nationals and International renters ๐ on the decline since the Brexit vote 4 years ago โ.
An analysis of the rental market by Goodlord has revealed a dramatic drop in the number of EU citizens taking up Tenancies โ since 2017:
1๏ธโฃ From January 2017 to November 2020 the proportion of EU renters in England fell from 20 per cent to 14 per cent ๐
2๏ธโฃ International Tenants from non-EU countries are also down, from 13 per cent to 11 per cent ๐
3๏ธโฃ The proportion of renters with UK citizenship rose significantly from 66 to 74 per cent ๐น
Tom Mundy. COO of Goodlord says ๐ข, “There was no mass exodus ๐ข of EU citizens following the Brexit vote. Instead, we’ve seen a steady but marked decrease in the number of people from the EU ๐ซ 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 โฌ However, this has not affected our occupancy rates ๐ผ and rents have continued to rise year-on-year ๐ since the summer of 2018 ๐.
Latest investment opportunity
๐ฅ 1 transaction to acquire all units
๐ฅ 4 x Luxury Apartments: Oxford Street NG1 5BH
๐ฅ Freehold on the entire building
๐ฅ All let
๐ฅ Current monthly rental income = £4,145
๐ 3 bedroom currently rented at: £1250 (unfurnished)
On the market value: £325,000
๐ 2 bedroom currently rented at: £1250 (unfurnished)
On the market value: £275,000
๐ 2 bedroom currently rented at: £895 (unfurnished)
On the market value: £155,000
๐ 1 bedroom currently rented at: £750 (unfurnished)
On the market value: £145,000
๐ข Total value £900,000 - our client will accept offers in the region of £830,000 โ
If you would like to discuss any of these articles in more detail ๐ or have any questions โโ - my team and I work extremely hard on maximising rental income โ
whilst ensuring all the legals are taken care of ๐: all day, every day ๐.. and we like having conversations too ๐ฌ
Please get in touch, we would love to hear from you.
Sincerest regards, Ali ๐

Posted one month ago
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