Posts with tag: landlord demand

Demand in Buy-to-Let Sector “has Never been so Low”

Demand from landlords in the buy-to-let sector “has never been so low”, according to a leading letting agent.

Demand in Buy-to-Let Sector "has Never been so Low"

Demand in Buy-to-Let Sector “has Never been so Low”

The number of people investing in the buy-to-let sector is falling at an alarming rate, recent reports have shown, while many existing landlords are selling their portfolios ahead of changes to tax relief on finance costs.

Buy-to-let lending improved during the fourth quarter (Q4) of 2016, with the share of lending for acquisitions in the buy-to-let sector increasing from 28% in Q3 to 38% in Q4, which is comparable to the 38% recorded in Q2 last year, shows the Mortgages for Business complex buy-to-let index.

But with tax relief on landlords’ finance costs set to be phased out from next month, and now that the Bank of England’s Financial Policy Committee has been granted greater powers over the buy-to-let sector – making it more difficult for many property investors to get a mortgage due to new, stricter affordability tests – activity in the sector is slowing dramatically, warns the Director of Milton Stone, Sacha Moussaieff.

The central London letting agent comments: “In my 20 years of agency, the demand for buy-to-let property has never been so low and landlords have been driven out of the market.”

He also believes that “the extra 3% Stamp Duty”, on top of additional taxes, “means that becoming a landlord is extremely unappealing”.

Worryingly for tenants, Moussaieff also says that he fully expects to see rent prices rise to combat the “new tax laws on rental income”.

He is not the only industry professional to caution about rent rises; a leading economist fears that rents could rise by up to 30% for tenants as landlords come to terms with the impact of the forthcoming tax changes on their buy-to-let businesses: https://www.justlandlords.co.uk/news/government-attack-buy-let-push-rents/

Are you planning to put your rents up to mitigate financial changes?

 

 

 

 

 

Investment Firm Expands in Manchester Following High Landlord Demand

Published On: September 22, 2016 at 9:57 am

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Categories: Landlord News

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Investment Firm Expands in Manchester Following High Landlord Demand

Investment Firm Expands in Manchester Following High Landlord Demand

Investment firm The Mistoria Group has expanded its business in Manchester, following high levels of landlord demand.

The high yielding property investment specialist has recently opened a new office in the heart of Castlefield, in Manchester’s city centre.

The new office, located at 2 Burton Place, is The Mistoria Group’s third office, alongside Salford and Liverpool. Acting as a hub for international enquiries, investment and sales for both UK and international investors, the new office will be staffed by a team of five.

The new Manchester office has been launched on the back of a surge in landlord demand for high yielding properties in the North West and a 35% rise in demand from international property investors.

The Managing Director of The Mistoria Group, Mish Liyanage, comments: “We have had a very successful year so far, achieving almost full occupancy for all the properties we manage on behalf of landlords, achieving 100% in Salford and 98% in Liverpool. We have been inundated with enquiries and still have a long waiting list for students wanting high spec, shared accommodation.

“Our new Manchester office will help us to continue grow our strong presence in the North West, supplying some of the best rental yields and investment opportunities that are available in the region. With the new international website underway, we have high hopes for the new office in developing our international aspirations, by expanding our offering to current and new overseas investors. Jerry O’Brien will head our international sales division.”

He explains: “We wouldn’t be able to achieve this success if it wasn’t for the great team we have working across the different divisions at Mistoria. It has been a very busy period for our lettings, marketing team and MCC Accountants. Everyone has worked very hard to ensure the smooth running of the business in the period approaching the 2016/17 academic year.

“Over the next 12 months, we will continue to do what we do best in providing some of the best high yielding investment in the UK and overseas.”

The Mistoria Group is a high yielding, student buy-to-let investment specialist, offering Houses in Multiple Occupation (HMOs) and armchair investments in the north of England.