Written By Em

Em

Em Morley

Sheffield Rental Properties Needed

Published On: October 29, 2015 at 12:39 pm

Author:

Categories: Landlord News

Tags: ,,

Sheffield Rental Properties Needed

Sheffield Rental Properties Needed

Are you a landlord or letting agent in Sheffield? You could help tackle criminals in the city by offering your empty rental properties to the police.

If you’re suffering from a spell of void homes, you could work with the police to catch out thieves.

South Yorkshire Police is looking for landlords and agents to take part in a scheme that will utilise empty properties as stings to combat burglars in Sheffield.

Police say they would use the homes as traps for would-be criminals. They would only require part of the ground floor of the property, meaning minimal disruption for landlords and agents.

In some cases, the police say they could offer a lay rent for the period that they use the house.

If you are interested in tackling burglaries in your area, get in touch with the police force here: martin.simcock@southyorks.pnn.police.uk

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fee-Free Buy-to-Let Mortgage Products Rise

Published On: October 29, 2015 at 10:32 am

Author:

Categories: Finance News

Tags: ,,

The amount of arrangement fee-free buy-to-let mortgage products increased in the third quarter (Q3) of this year, revealed data from Mortgages for Business (MAB).

Fee-Free Buy-to-Let Mortgage Products Rise

Fee-Free Buy-to-Let Mortgage Products Rise

The figures from the latest Buy-to-Let Mortgage Costs Index show that 17% of products in Q3 were offered without lender arrangement fees, up from 13% in Q2. Flat fee products dropped slightly from 47% of all buy-to-let mortgages to 46% over the same period.

The greatest declines were experienced on products with percentage-based fees, falling from 40% of all buy-to-let products in Q2 to 37% in Q3.

Charges, including arrangement fees, valuation fees and legal costs, have continued to have a negative impact on total costs. On average, they now add an extra 0.48% to the headline rate, down from 0.52% in Q2. When the index first launched however, in Q1 2013, the average was 0.67%.

These decreases were also witnessed in the high loan-to-value (LTV) sector, which has previously seen an average 0.9% added to the headline rate. In Q3 2015, the average additional cost on high LTV rates was down to 0.67% after three consecutive falling quarters.

The study also found that despite absolute product numbers by initial term – one to five-year rates and loan term products – rising across all categories, the market share of two-year loans has dropped annually from 54% in Q3 2014 to 43% now.

Longer term products, especially three and five-year rates, have increased their market share, gaining 9% of the market between them.

Finance Director at MAB, Simon Whittaker, comments: “The recent falls in swap rates, almost back to levels similar to the start of the year, have helped lenders trim prices, but whilst they continue to be attracted to the buy-to-let space, they are having to be ever more creative to find the balance between maintaining their margins and offering competitive products.

“When looking at the market and the wider economy, the balance seems to have tilted towards there being no increase in bank rate for quite a few months yet.”1 

1 https://www.landlordtoday.co.uk/breaking-news/2015/10/fee-free-btl-products-increase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

96% of homeowners chose to fix last month

Published On: October 29, 2015 at 9:15 am

Author:

Categories: Finance News

Tags: ,,

Fresh data from the Mortgage Advice Bureau shows that 96% of homebuyers choose to fix during September. This was the second successive month that this figure was achieved, which in turn pushed the popularity of fixed mortgages to new record high.

Borrowers are becoming more motivated to lock into fixed rate deals whilst the mortgage pricing remains at such a low.

Deals

In comparison, just 91% of homebuyers chose a fixed rate between February and April this year. More savvy homeowners are looking to secure rates in larger numbers, with 92% of remortgage customers fixing rates in August and September. This is the highest proportion recorded since June 2014, when 93% chose to fix.

There were increases in the average mortgage pricing across two and five year fixed rates and two-year tracker rates. The average two year fixed rate increased from 2.68% in August to 2.72% in September, marking the first rise after 12 months of consecutive lows. Five year rates also increased for the first time since August 2014.

Despite rising between August and September, two year fixed rate pricing remained the most improved over the previous year. Borrowers looking for a short-term two year fix in September found the average rate more than 1% lower than it was twelve months previously, allowing them to make substantial savings on their repayments.

96% of homeowners chose to fix last month

96% of homeowners chose to fix last month

Products

Additionally, the total number of mortgage products available rose to a new record level in September, with 16,465 recorded. This represented a rise of 4% in August and a 36% year-on-year increase.

The head of lending at the Mortgage Advice Bureau said, ‘sooner or later, the predictions of an interest rate rise are going to become a reality and some lenders have started to act ahead of this to ensure they are not short changed. Borrowers should not be too alarmed by September’s jump in pricing, as there was only a slight increase and three year fixed rates continued to fall. All the same, it is a timely wake-up call that these rates are not here to stay forever.’[1]

Anyone in a position to buy or remortgage should consider making the most of the competitive pricing and thousands of products currently available. There are clear signs in the latest data that an increasing number of borrowers are cottoning onto the trend,’ they added.[1]

[1] http://www.propertyreporter.co.uk/finance/rising-rates-push-96-to-fix.html

 

 

Hastings Council Launches its Own Letting Agency

Published On: October 28, 2015 at 4:01 pm

Author:

Categories: Landlord News

Tags: ,,

Are you a landlord in Hastings? Or perhaps you’re searching for a rental property there? If so, Hasting Council’s new letting agency could help you out.

Hastings Council Launches its Own Letting Agency

Hastings Council Launches its Own Letting Agency

The council has set up its own agency, Letstart Letting.

The local authority hopes to make rental accommodation accessible and affordable for local families struggling to find secure housing. It also aims to make the lettings process simple and easy for landlords.

There will be no contractual agreement between the landlord and the tenant, as the council takes full responsibility, including finding the tenant, signing the tenant up, collecting rent, some repair work and ending tenancies.

Councillor Kim Forward, Deputy Leader of Hastings Council and Lead Member for Housing and Communities, explains the new agency: “Once the council takes on the management of a property, the Letstart Letting agency team will find suitable tenants and carry out all necessary checks while offering a guaranteed lease period of up to three years, and rent will be paid to the landlord even if the property is empty.

“Throughout the tenancy, the team will deal with the day-to-day care of the landlord’s property and will take every reasonable measure to ensure that it’s protected and treated well.

“The team will act upon all emergency situations and liaise with tenant and landlord on repairs. The property will be returned to the landlord at the end of the lease in exactly the same condition it was taken on (minus fair wear and tear), and repairs will be done to address any tenant damage.”

She adds: “This really is hassle-free letting. So, if you have a property to let or know of someone that does, why not contact the Letstart Letting team to find out more. Also, if you are a tenant, you can recommend this service to your landlord.”1

1 https://www.landlordtoday.co.uk/breaking-news/2015/10/hastings-council-sets-up-own-letting-agency

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unauthorised Accommodation Demolished in Ealing

Published On: October 28, 2015 at 1:01 pm

Author:

Categories: Landlord News

Tags: ,,,

Two unauthorised rental properties have been demolished in Ealing after the landlord failed to comply with an enforcement notice.

Unauthorised Accommodation Demolished in Ealing

Unauthorised Accommodation Demolished in Ealing

Ealing Council demolished the substandard homes at the back of 201 Scotts Road, Southall, over the weekend of 26th September.

Action was taken after the landlord, Mrs Nadeem, failed to comply with an enforcement notice that was served last summer.

The buildings were first discovered in October 2013 when a concerned resident reported the planning breach to the council. Nadeem was then served with the notice in 2014 that demanded she stop using the outbuildings and demolish them both by December 2014.

Nadeem was then issued a formal warning when the deadline passed with no remedial action being taken. Again, she did not comply, causing the council to demolish the outhouses.

When the council inspected the buildings, they were found in a very bad state, with damp and no insulation. Additionally, five adults and a small child were found living there, despite Nadeem insisting the buildings were empty. The renters have since found alternative accommodation.

Julian Bell, Leader of Ealing Council, says: “I am always astounded when I see and hear about the unacceptable conditions that landlords of unauthorised outbuildings expect tenants to live in. These illegal structures are substandard and do not meet the planning regulations that are in place to protect our residents and communities. They will not be tolerated and the council will take robust action where owners fail to comply with enforcement notices.”1

Nadeem will be issued a bill for the full cost of the demolition work. If the bill is not settled, a charge will be applied on the site, which will incur interest until the outstanding money is paid.

Ealing Council also took enforcement action in August to remove three illegal outhouses in East Acton.

1 https://www.landlordtoday.co.uk/breaking-news/2015/10/beds-in-sheds-demolished-by-ealing-council

 

 

 

 

 

 

 

 

 

 

 

Best and worst places for trick or treating

Published On: October 28, 2015 at 12:01 pm

Author:

Categories: Uncategorized

Tags: ,,,,

Many children will be donning their best fancy dress (or some creatively altered bin-bags) this Saturday as thousands take to the streets in the hope of some confectionary. However, which areas will be best for treats and which will leave kids missing a trick?

Zoopla’s ‘Trick or Treat Index’ put a number of factors, such as property prices, safe roads and local crime rates into its melting pot before deciding ‘witch’ places were safe from a frightening haul this Halloween.

Treat

The Index revealed that Milton Keynes is the best place to go trick or treating. Closely followed by Colchester, Stockport and Bristol. Those in Chesterfield, Middlesbrough and Hull were found to be the most-wicked.

Milton Keynes, where the average property price is £266,533, boasted the lowest crime rate of all the towns and cities analysed.

The top-ten best places for trick or treating were found to be;

Rank Town Avg Property Value

(Oct 2015)

 Number of Households Incidents of crime per 1,000 residents Pedestrian RTAs per 1,000 residents Trick or Treat Index
1 Milton Keynes £266,533 98,600 5.05 0.30 153
2 Colchester £276,537 71,600 6.72 0.29 139
3 Stockport £227,080 122,000 9.29 0.23 138
4 Bristol £274,479 182,700 8.64 0.45 134
5 Coventry £175,467 128,600 6.76 0.37 133
6= Wirral £216,132 140,600 9.19 0.40 128
6= Cheltenham £312,332 50,900 8.06 0.21 128
8 Wigan £150,260 136,400 8.05 0.23 127
9 Southampton £259,361 98,300 6.13 0.47 123
10 Warrington £197,522 85,100 7.30 0.31 1
Best and worst places for trick or treating

Best and worst places for trick or treating

Ghoulish

At the other end of the witch’s broom, those seeking out treats in Chesterfield on Saturday must beware of a scary low population density and devilish house prices values.

The top-ten worst places for trick or treating were found to be;

 
Rank Town Avg Property Value

(Oct. 2015)

 Number of Households Incidents of crime per 1,000 residents Pedestrian RTAs per 1,000 residents Trick or Treat Index
1 Chesterfield £162,251 46,800 7.94 2.43 50
2 Middlesbrough £141,801 57,200 13.75 0.37 51
3 Hull £123,904 112,600 11.00 0.52 57
4 Preston £178,121 57,600 13.90 0.42 60
5 Nottingham £174,895 126,100 16.51 0.64 61
6 Liverpool £155,397 206,500 15.36 0.66 64
7 Manchester £159,153 205,000 15.68 0.56 69
8= Derby £184,443 102,300 10.98 0.56 70
8= Oldham £134,412 89,700 9.37 0.43 70
10 Huddersfield £163,204 173,500 11.39 1.04 71

Lawrence Hall of Zoopla noted, ‘seasoned trick-or-treaters know what will help them secure a better Halloween haul and stay safe while doing so. For the optimum Halloween experience, our index shows that Milton Keynes is the place to go. Homeowners in the area might want to stock up on goodies, or else be prepared for some tricks coming their way!’[1]

[1] http://www.propertyreporter.co.uk/hero/and-the-best-place-to-trick-or-treat-is.html