February 2018

Why buy-to-let?

As an income investment for those with enough money to raise a big deposit buy-to-let looks attractive, especially compared to low savings rates and stock market swings.

Meanwhile, the property market bouncing back has encouraged more investors to snap up property in the hope of its value rising. Mortgage rates at record lows are helping buy-to-let investors make deals stack up, but beware of low rates. One day they must rise and you need to know your investment can stand that test.

There is also a tax rise being put in place, as buy-to-let mortgage interest relief is axed and replaced with a 20 per cent tax credit. Additionally, since April 2016 landlords now have to pay an extra 3% stamp duty on property purchases.  Recent history provides an important lesson in how returns can be hit. Many buy-to-let investors who bought in the boom years before 2007 struggled as mortgage rates rose.

A sizeable number were thrown a lifeline when the base rate was slashed to 0.5 per cent. Rates stuck there until this summer and then were cut again after Brexit, but remember they will rise again. It's also worth noting that the Bank of England has buy-to-let mortgages in its sights. Yet despite the tax changes and potential for buy-to-let mortgage costs to rise, there are positives.  

Greater demand from tenants, rents that should rise with inflation and the long horizon for interest rate rises, mean many investors are still tempted by buy-to-let.

March 2018

Proposed changes to landlord gas safety regulations

The proposed changes, which do not relax regulatory requirements or reduce safety standards, is to introduce a degree of flexibility to the timing of landlords’ annual gas safety checks.

A new MOT-style certificate means that landlords can carry out the annual gas safety check in the two months before the due date and retain the existing expiry date. So, if your gas safety check is due on the 30th of March but it is carried out on the 15th of March, the new certificate will retain the 30th March expiry date and there will be no foreshortening of the inspection period.

This will also make it far simpler to keep track of the renewal date going forward as it will always be the same date! This also avoids landlords having to wait until the last minute and not gaining access, or having to shorten the annual cycle to comply with the law.

When are the changes to landlord gas safety regulations happening?

Subject to Parliament approval (which seems likely), the Gas Safety (Installation and Use) (Amendment) Regulations 2018 will come into force on 6 April 2018. The current legislation will continue to apply up to and including 5 April 2018, along with the Approved Code of Practice and guidance supporting it.

April 2018

We are now advertising our properties on 'onthemarket.com' as well as Rightmove and Zoopla.

OnTheMarket has already established itself as the UK's third largest, and agent-backed, UK residential property portal provider in terms of traffic. They are increasing their marketing budget to up to £25 million per annum for the first two years to raise the profile of the OnTheMarket.com brand and continue to build their consumer audience and agent listing.

Have a fantastic Easter weekend everyone!!!

January 2018

It can be difficult for tenants to put their stamp on their rental property, particularly in winter when there's nothing better than cosy nights in at home!

Take a look at our top tips for making your rental home feel like home.

Don’t forget that if you are wishing to undertake any decorating you will need to get permission from your landlord.

• Use soft furnishings to make your mark. Choose an accent colour or jazzy pattern and use curtains and cushions to tie this in. This is particularly useful if you live in furnished accommodation.
• If you choose a non-furnished property you will be able to purchase your own furniture to your own taste.
• Have you heard about temporary wall and tile decals, these simply stick on to walls or bathroom tiles and peel off when you leave.
• Display art and photos – don’t forget to check you are ok to pop nails in the wall before you do so. If you’re not allowed to do this, explore other options such as displaying art by standing frames on your fireplace and any shelves.
• Accessorise – use quirky and stylish accessories such as colourful rugs and floor lamps.
• Pick up some plants – plants are perfect for livening up any space.Get creative with storage – whilst you may not be able to put up shelves, consider ladder style shelves that simply lean against walls or IKEA do some great free standing shelving units that can provide a great backdrop to a room once filled with books, dvds and pictures.
• Use mirrors to create the illusion of more space, you can lean these against walls rather than hang them up.

If your landlord has given you permission to decorate, make sure that you also check if they are expecting you to return the property to its original condition when you move out. You might not want to redecorate a property that you are leaving!