Author: Anna Corrigan

LET’S DO BUSINESS

  • The UK has been crowned by Forbes, for the second year running, as the best country for business following its latest survey published in December 2018. A total of 161 countries are assessed on 15 different criteria.
  • The UK is the only country to land among the top 30 in all 15 metrics, including property rights, innovation, taxes, technology, corruption, freedom and workforce.
  • Forbes states that although sterling plummeted 9% against the US dollar the day after the EU referendum result and remains down, the economy has ‘held up relatively well’.
  • With the official exit from the EU scheduled for this March, Forbes recognises that uncertainty remains. Some UK companies are holding off investments to see how Brexit affects trade relations, but on balance the business climate remains attractive, with a globalised economy that is more open than most in terms of trade, investments and capital flows.
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DISTANCE TENANTS MOVED TO THEIR CURRENT RENTAL HOME

  • With renting offering more flexibility than ownership, some tenants have traditionally used the sector as a way to get to know a new area before committing to buying.
  • Indeed, the majority of tenants stay within their local area when moving home.
  • In 2018, over a quarter (27%) of tenants moved within a mile of their previous rental property, and two thirds (68%) stayed within ten miles.
  • At the other end of the scale, 8.1% of tenants starting new tenancies in London in 2018 moved from overseas. Despite political and economic concerns, this is actually an increase from 7.3% in 2017.
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a solid yielding, low maintenance btl

What better way to start 2019 than with a brand new rental property to start/add to your portfolio! This one bedroom apartment on Cedar Grove really is a great BTL.

https://www.rightmove.co.uk/property-for-sale/property-59253141.html

Hitting the market yesterday for £150,000 the apartment lies on the first floor of this well maintained block down a quiet residential street.

There are many reasons why this apartment would be appealing to tenants;

  • Neutral decor
  • Modern kitchen
  • Fitted wardrobes
  • 0.1 miles from Heaton Chapel train station
  • Walking distance to both Heaton Moor and Heaton Chapel centre
  • Off road parking

A very similar apartment in the block rented via Julian Wadden for £650.00pcm in the autumn and this apartment is likely to achieve the same figure – giving a yield of 5.2%.

Not only is it a good yield, but apartment blocks like this are well maintained by the management company, meaning less maintenance for you the owner and they attract tenants all year round meaning less void periods.

A great BTL for both the experienced landlords and those looking for their first.

If you need any help or advice, please do come in and see me or give me a call on 0161 442 1118. I’m here to help.

Anna 🙂

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success story

One of the best parts of this job is seeing peoples investment visions come to life.

I first met Alex over a year ago. He came into my office wanting a buy to let property in the area but wasn’t sure what to buy. We had a coffee and really great chat about the different types of property in the area, what you can buy for your money, what rents and yields can be achieved and what styles tenants look for.

Months and months went buy and Alex sent me lots of property links, came to see me with various brochures and we did a lot of viewings together.

Eventually we found the right property. Something which he could put his own stamp on (instantly increasing its value), in a great location, which would rent for a great price.

The sale went through and we spoke about tradesmen, paint colours, tiles, light shades – you name it! Over the last 3 months Alex and his team have worked tirelessly transforming the property into the most stunning buy to let. We placed it on the market and to no surprise, secured a brilliant tenant, at full asking rent, on the very first viewing.

Alex’s vision was very clear, however he fully accepted and embraced the local knowledge and guidance I could give him and I feel very proud to have been a small part of the amazing property he has brought to the rental market. The new tenant is moving in shortly and we look forward to managing this tenancy for him going forward to ensure the high standard is kept.

If you would like any help or guidance with an investment property or purchase, please do come in and see me and we can have a chat. I’d love to work with you.

Anna 🙂

 

 

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changes in tax on your buy to let properties

As a Landlord, are you are aware of the imminent tax changes that are potentially affecting Buy to Let Landlords?

These changes were introduced in April 2017 and progressively increase the tax liabilities of all 40% tax paying Landlords who have Buy to Let mortgages. Is this you?

The first time you may become aware of this extra tax burden could be when you receive your next tax demand in January 2019.

We are recommending a meeting with our internal Buy to Let Expert to talk you through the implications and potential solutions.


Please call on 0161 442 1118 or email us at heatonslettings@julianwadden.co.uk to arrange a convenient time for either a telephone or face to face meeting.

Anna

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CHOCOLATE BOX PROPERTY

  • There is little else more quintessentially British than the chocolate box cottage. Bringing up idyllic images of rambling roses framing the doorway, thatched roofs, exposed beams and open fires, an escape to a rural retreat is the aspiration of many.
  • We have taken the opportunity during this National Chocolate Week to delve further into this market and the buyers who have made this dream their reality this year.
  • So far in 2018, there have been 2,100 country cottages sold in rural locations across England and Wales. The South of the country dominates, with 46% of sales but a fifth were in the Midlands and 15% in the East. The remaining 19% were spread across the North, Yorkshire and the Humber and Wales.
  • Unsurprisingly, buyers are prepared to pay a premium for a rural idyll. Chocolate box cottages sold this year for an average of £364 per square foot. This is 33% higher than the average price paid for all homes across rural locations.
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in need of refurbishment on a generous corner plot

New to the market is this three bedroom semi-detached property on Broadstone Road in Heaton Chapel. Also being close to the border of Reddish means that, when being resold, you will attract buyers from both areas – a real plus!

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a beautifully presented, low maintenance buy to let property

Although the yield is an important factor when purchasing a buy to let, I appreciate it isn’t always the most important thing for all landlords. Of course, nobody wants to invest their money into something that isn’t going to make money, however sometimes something which is low maintenance, going to attract a great quality of tenant and increase in value is more important than an extra 1% on the return.

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