Like every month, Rentila offers you an overview of the main real estate news of interest to landlords. This month, we focus on investment returns, interest rates and UK housing market. Happy reading and… renting!
What is the forecast for the rental market in 2020?
As the number of people renting in the UK continues to grow at a rapid speed, private landlords increasingly find themselves at the heart of the country’s housing market and subject to closer scrutiny and regulatory changes by the government.
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U.K. House Prices Rise 0.4% With Signs of Strengthening Economy
U.K. house prices rose last month as the market continued to show signs of benefiting from some reduction in political uncertainty since the election in December.
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The UK market for short-term lets has exploded recently
According to the report, one in ten landlords are likely to consider a switch to short-term lets. The numbers are even higher for those with more than five properties in their portfolio.
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Interest rates: what does the Bank of England’s decision mean for borrowers?
The Bank of England announced the day before Brexit that it would keep the base interest rate at its current level of 0.75 pe cent, quashing the rumours of yet another interest rate cut. If you are about to take out a mortgage, what does the decision mean for you?
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Is it best to overpay a mortgage or invest the money?
With interest rates at the level they are today, it might make sense to invest the money rather than overpay the mortgage. Regardless of whether the Bank of England’s main rate is raised, held or lowered, the returns from the market will be greater than any Cash ISA, especially when dividends are added into the mix.
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Nationwide to Start Offering Green Mortgages
Nationwide Building Society has created a £1bn fund to help borrowers get a mortgage for energy-efficient homes.The fund will allow Nationwide to offer ‘preferential’ mortgage rates to customers buying a new-build property that has an A-rated Energy Performance Certificate (EPC).
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Two-year fixed rates grow in popularity among buy-to-let landlords
The percentage of landlords opting for two-year fixed rate buy-to-let mortgages in the final quarter of 2019 was 26% – a 12-month high – and up from 8% the previous year.
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Asking rents rise twice as fast in London than rest of UK
London asking rents hit a record average of £2,119 per calendar month as the ongoing shortage of property for tenants continues to increase rents. According to Rightmove’s latest Rental Trends Tracker, rents in the capital are up by 4.2% in the past year and 45% over the past decade.
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What is a fixed term tenancy?
While there is no tenancy that is better than another, there are certain kinds that are more suitable for tenants and landlords, depending on what they may need. Simply put, fixed-term tenancy refers to a contract that legally binds you to a lease for a specified period of time. This obligation applies to both the tenant as well as the landlord.
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Rise of mid-life renters as many 30 and 40-somethings have a landlord
About three in 10 (27.6%) people aged 35 to 44 in England were renting from a private landlord in 2017, compared with fewer than one in 10 (8.5%) in 1997.
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Better Returns For Your Investment
Most landlords want to make a living, not a fortune and perhaps looking at other investment opportunities will give them better returns for a steadier income and show the Government that if they are not supported, they will go. What will happen then to the millions that rely on the private rental sector?
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The optimal business structure for UK landlords
It is probably fair to say that most landlords do a fair amount of research when buying properties to consider the potential for capital appreciation and cashflow. They also research the mortgage market for the best mortgage deals if they intend to finance their properties and many also consider letting and management.
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What You Need to Know about Buying a Home in UK
Now you have decided to buy a home. It is the right decision because having your home has its own charm. It will be recognised by your name and thus, creating a proud moment for you. For most of the time, purchasing a new home has been a dream comes true, but it will take time.
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Protect the environment. Reduce paper consumption and help save the trees as well as save money at the same time.