Direct Property Investments

Even so called accidental landlords, for example those who enter the sector after inheriting a property, are not leaving with many even adding to their business by expanding their portfolio.

One of the main reasons for staying is that the private rented sector makes up a large part of the UK’s lettings market and with a shortage of houses to buy is likely to continue to do so.

Indeed, new research from Foundation Home Loans shows that 17% of existing landlords plan to increase the size of their portfolio in the next 12 months and a growing number overall are accidental landlords.

Some 14% of existing landlords describe themselves as ‘accidental’ due to a change in circumstances such as marriage or relocation while 9% inherited the property that they let out.

However, 23% of all landlords questioned became a landlord purely for financial reasons, considering it to be an attractive investment, with 21% planning to use earned rental income to fund their retirement plans.

Some 21% described themselves as full time landlords and do not have another job, with the greatest proportion located in London while 19% say that they have a part time job, leaving 60% who are landlords while having a full time job.

‘With so much regulation introduced into the buy to let market in the last few years, it could be easy for those who are unplanned landlords to make a swift exit rather than stay and navigate the red tape,’ said Jeff Knight, marketing director at Foundation Home Loans.

‘That said, no matter how they found themselves owning rental property, it’s clear landlords are interested by the buy to let market for a variety of reasons and objectives, financial or otherwise,’ he pointed out.

‘Considering the rental sector forms an increasingly important part of the housing mix, landlords need to be armed with the right advice. Our findings indicate plenty of the accidental landlords are looking to expand their portfolios and remain invested in the market, which will ultimately have a positive impact on quality and choice for renters,’ he added.

Source: www.propertywire.com

June 15, 2018

Added by D_Property at June 15, 2018

Landlords find that the private rented sector in the UK is still a worthwhile investment

Even so called accidental landlords, for example those who enter the sector after inheriting a property, are not leaving with many even adding to their business by expanding their portfolio. One of the main reasons for staying is that the private rented sector makes up a large part of the UK’s lettings market and with a shortage of houses to buy is likely to continue to do so. Indeed, new research from Foundation Home Loans shows that 17% of existing landlords plan to increase the size of their portfolio in the next 12 months and a growing number overall are accidental landlords. Some 14% of existing landlords describe themselves as ‘accidental’ due to a change in […]

June 13, 2018

Added by D_Property at June 13, 2018

Two million tenants in UK could see rents rise this year, research suggests

Two million tenants across the UK could be hit with rent rises in 2018 as 40% of landlords are planning to increase what they charge in the private rented sector, new research suggests. If this number of landlords carry out their plans that would mean rent rises totalling some £46 million a month, according to the figures from online letting agent MakeUrMove. With the average rent just over £900 a month, the firm says that a rise of 2.5% would mean tenants paying some £23 a month more, totalling £414 across a typical 18 month long tenancy. Tenants will feel the impact most severely in London where the average rent is £1,274, as half of landlords […]

June 8, 2018

Added by D_Property at June 8, 2018

Homes worth a £1 million or more selling faster in many parts of the UK

Homes in the UK worth £1 million or more are selling more quickly in Cambridge than any other part of the country, twice as fast as the national average, new research reveals. Overall the average time it take to secure a buyer in this sector of the housing market is 99 says, up five days than last year but in Cambridge it is just 45 days, according to the analysis from property portal Rightmove. Indeed, the top five fastest selling million pound locations are all outside of London with Edinburgh and Harpenden in joint second place taking 53 days each, followed by Bristol at 54 days. The research also shows that in four out of 11 […]

June 7, 2018

Added by D_Property at June 7, 2018

Private sector rents in UK up 2% in year to May 2018, latest index reveals

Rents in the UK’s private rented sector increased by 2% in the 12 months to May 2018 to an average of £919 per month, the latest index shows. However, when London is excluded, the average rent in the UK is now £763, up by 1.3% on last year, according to the data from the Homelet index. Indeed, average rents in London are £1,586, up 5.6% on last year, which is the highest regional year on year increase identified in this month’s figures. Eleven of the 12 regions covered by the index recorded year on year rises in rents. Only Wales saw rents fall on an annual basis, down by 0.2% to an average of £604. But […]

April 19, 2018

Added by D_Property at April 19, 2018

UK Finance: Homeowner purchases at 10 year high

The latest data and analysis from UK Finance has revealed that mortgage lending for first-time buyers, home movers and remortgagors all saw an increase during February when compared to the previous year. Total homeowner purchases, which combine both home movers and first-time buyers, reached 50,000, the highest level for February since 2007. This morning’s figures show that there were 25,200 first-time buyer mortgages completed in February 2018, some 2.4% more than in the same month a year earlier. The £4bn of new lending in the month was 2.6 per cent more year-on-year. The average first-time buyer is 30 with a gross household income of £41,000. There were 24,800 home mover mortgages completed in the month, the […]

October 24, 2017

Added by D_Property at October 24, 2017

Mortgages of 30 years and over becoming more common in UK

Longer mortgages of 30 years and over are becoming a reality in the UK as demand soars due to rising house prices, inflation and low wage growth, a new report suggests. The majority of independent mortgage brokers believe that the rise in demand for longer home loans is inevitable and not likely to slow, according to the latest report from the Independent Mortgage Lenders Association (IMLA). Overall some 69% of mortgage brokers report an increase in demand for 35 year mortgages with 13% reporting a substantial rise in demand in the first six months of 2017. Some 77% of brokers and 74% of lenders say increase in demand for 35 year term mortgages is an inevitable […]

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