Posts Tagged ‘guaranteed rent for landlords’
Guaranteed Rent London | First-time buyers ‘having regrets,’ shows Government research
Guaranteed rent London – Being a property management company specialising in guaranteed rent that the biggest drawback of owning a rental property is void periods in between tenants. A buy-to-let property is no good as an investment if it isn’t making any money. This is why we offer a great guaranteed rent solution.
Guaranteed Rent London | One in five people who recently got onto the property ladder now regrets not buying somewhere cheaper, according to research by a Government-backed body.
The Money Advice Service (MAS) found “concerning” evidence that many recent first-time buyers are feeling financially over-stretched after under-estimating all the costs that being a home owner brings.
It is warning those trying to move on or up the ladder as the housing market revival continues to gather pace to make sure they are not taking on too much financially.
The MAS found three-quarters (74%) of people who bought their first home in the last two years said they had to stretch themselves financially to afford it.
Some 19% of the recent first-time buyers surveyed said that with hindsight, they wish they had bought somewhere cheaper. Nearly two-fifths (38%) of those surveyed lie awake at night worrying about their finances.
More than half (55%) of recent first-time buyers also found the additional expenses associated with buying a home on top of their mortgage payments had been more than they had expected. Many said they had misjudged the impact of solicitors’ charges and removal costs on their finances, while others had not given consideration to stamp duty.
The service has launched a new campaign to help those struggling on the first rung of the property ladder to get a grip on their budget. Guaranteed Rent
It is urging aspiring first-time buyers to make sure they think not only about mortgage costs but all household expenses, including council tax, utility bills and home insurance, when deciding whether they can really afford to buy a home.
The MAS offers free, impartial advice on its website – www.moneyadviceservice.org.uk – which has tools to help people work out moving costs, plan their budget for living expenses, cut back on their spending and put money into savings.
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Guaranteed Rent London | Figures released by the Council of Mortgage Lenders (CML) this week showed that first-time buyer numbers reached their highest annual numbers since 2007 last year, with this sector making up around 44% of all mortgages advanced to home buyers in 2013.
Government support schemes like Help to Buy have helped to inject new life into the housing market by boosting the flow of mortgage deals available for people with deposits as low as 5% saved.
But there have also been suggestions that would-be buyers are feeling more under pressure to get on the property ladder amid strong house price increases in some areas.
The CML’s latest figures indicate that first-time buyers have recently been stretching themselves further with their mortgage borrowing. First-time buyers typically borrowed 3.43 times their gross income in December last year, edging up slightly from a ratio of 3.38 in November.
The MAS is an independent body set up by Government and funded by a levy on the financial services industry. Guaranteed Rent London
Caroline Rookes, CEO of the service, said: “It’s really concerning to hear so many recent first-time buyers have over-stretched themselves financially.
”I urge all home buyers – even those higher up the property ladder – to ensure they are not taking on too much if they’ve borrowed the maximum available.
“Being able to afford the mortgage doesn’t mean you can necessarily afford the home – and all the associated costs.”
The research surveyed 974 people from the UK who had bought their first home in the last two years.
New rules are set to come into force in April which will mean lenders have to carry out more checks to work out whether people can really afford the mortgage they want to take out.
The Mortgage Market Review rules mean that lenders will have to consider whether a borrower would still be comfortable making their mortgage payments following a rise in interest rates.
Guaranteed Rental – Do you want to receive monthly rent even when the property is unoccupied?. Please contact us on 020 8694 8098 for extensive references to see how we can help you today.
Guaranteed Rent for Landlords | Record demand for London prime property in January
We seek properties all over England for our guaranteed rent scheme. All properties must be clean, in a good state of repair, fit for human habitation and safe. If they are not we may be able to help you anyway so it is worth giving us a call.
Nearly half of all prime properties sold in London during January went for asking price or higher, it has been revealed.
Demand for houses in this part of the country during the first month of the year has never been stronger, according to figures from estate agents Marsh & Parsons.Guaranteed Rent for Landlords
Thirty-four per cent of properties sell within two weeks of going on the market and the ratio between supply and demand is at a four-year high, fueling concerns that a property bubble is developing in the capital.
Peter Rollings, chief executive officer at Marsh & Parsons, thinks the surge in potential buyers since the turn of the year means that now is the time to get a “jackpot price on property”.
“These extraordinary conditions have created a strong seller’s market and one of the best opportunities to sell property in recent years,” he added.
The estate agent’s study showed there were 23 registered buyers competing for every home last month – this figure only stood at 14 in January 2013.
Mr Rollings puts the demand down to the “perfect combination” of low interest rates and competitive mortgage finance.Guaranteed Rent for Landlords
London’s property market has also for some time been viewed as an ideal investment opportunity, attracting rich migrants from all over the world who consider residential property in the UK capital to be a ‘safe haven’ for their cash.
“This doesn’t surprise me at all,” said Sophie Dworetzsky from law firm Withers. “If you invest in high-end London property you probably feel you have a degree of certainty – it’s like a safe currency.”
However, Mr Rollings did urge buyers to show a degree of caution when searching for houses, as he noted property regularly goes for over the asking price in a seller’s market.
For example, the average price of a two bedroom property in outer prime London rose by 17 per cent in 2013, which represents an increase of almost £100,000.
We treat your properties on our guaranteed rent scheme as our own for you to get the very best services at all times. Contact Guaranteed Rental today on 020 8694 8098 to find out more.
Guaranteed Rental Income | Private rental sector set to rise over the next year
Most of our landlords use our guaranteed rental income scheme. We have our own list of tenants waiting to move into properties. But just in case there is a void period, should happen, and for some reason your property should be without a tenant, we offer a rent guarantee scheme.
Guaranteed Rental Income | The private rental sector is set to grow this year as an increasing number of people are priced out of the mortgage market.
New findings have revealed that the private rental sector could make up 20 per cent of the homes market by 2021.
In fact, according to Belvoir Lettings, the number of people choosing to rent will continue to drive up demand.
The last year has also seen the rise of the ‘accidental landlord’ because of the inability of some mortgage holders to sell their house, although a small proportion of these are expected to take advantage of rising prices in order to make modest gains and exit the market. In addition, the report concluded that over the next few years, new rented housing stock will come from different directions, including from institutional investors. Commenting on the data, Dorian Gonsalves, chief executive of Belvoir, said:
“There are real indications of a recovery in the housing market with property prices predicted to rise, along with a projected 25 per cent increase in buy to let mortgage lending and with this we expect to see the re-emergence of more and more investment-minded landlords looking to capitalise on this trend.”
Guaranteed Rental Income | We work closely with our landlords and tenants to deliver the best Guaranteed Rent Services
Guaranteed Rental Income | He added that renting offers very good value, because of the flexibility and the fact that it is cheaper than taking out a mortgage.guaranteed rental income
This is particularly the case in London and the south-east, where property values tend to be much higher than those in the northern regions.
Mr Gonsalves added: “Whilst landlords always need to ensure they invest in the right property and be aware of local market rents, they must also remember that a good tenant who looks after a property well will actually be worth more to them, by taking out longer tenancies and reducing potential void periods.
It’s a win, win situation.” Recently figures published by Nationwide showed that property prices rose by 1.4 per cent in December and were 8.4 per cent higher than a year before.