LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Good News!

Good News!

Good news this past week for both prospective landlords and those looking to rent, as it emerged that buy-to-let lenders have enjoyed their busiest quarter since the 2008 financial crisis, as they approved mortgages worth £3.5 billion between April and July, a total of 32,000 loans.

 

As mortgage availability for first time buyers remains difficult, the rental market continues to strengthen. As a result, the demand from buy-to-let investors has picked up…. in July the Bank of England reported that there were about 600 buy-to-let products to choose from.

 

The Council of Mortgage Lenders has also confirmed that for the first time since 2008 the arrears rates for buy-to-let mortgages were lower than in the owner-occupied sector.

At 28,100 or 2.9% of the total, loans over three months in arrears in the buy-to-let sector were 0.05 per cent lower than in mainstream lending during the quarter.

 

As for rents, yields are up in the south east, having risen from 4.5% in July 2010 to 4.8% in July 2011 with Savills forecasting a 7% per cent rise this year.

 

Robert Gordon-James, owner of Martin & Co (Tonbridge), a leading lettings specialist, said:

“It’s clearly a good time for those thinking about entering the buy to let market - better terms for borrowing and rising yields. This is also good news for applicants as it increases the number of properties available for rent”.