If you are a current landlord or considering investing in property this article will be of interest to you. An opportunity to buy a great investment property before it is advertised on the open market. The BTL mortgage market is at its most competitive since winter 2008 – there are now more lenders offering lower interest rates with lower charges and arrangement fees plus easier rent to mortgage ratios. It is time you checked you are not paying too much for your mortgage.
Example of a Current Investment Opportunity
42 Cubit Way, Oundle Road, Woodston, Peterborough (images shown on the right)
Stylish modern 2 bedroom apartment on a 999Yr lease – 7.2% gross yield – £29k deposit – £1.7k taxable annual profit 6% return on capital
Being sold by a retiring landlord. The 798sqft apartment is a large stylish & modern 2 bedroom third floor apartment.
- Annual potential pre tax net yield £1.7K – 6.0% Return on Capital Employed
- Based on 25% deposit and 3.89% interest only loan, £375 arrangement fee & £28,850 capital employed
- Asking Price £110,000 – 798sqft
Spacious two bedroom third floor apartment in a very popular development in Woodston. Walking distance of the city centre. Built in 2006, the property benefits from an open plan kitchen/living room with a built in washer/dryer, dishwasher, fridge/freezer with an electric oven, hob & extractor. The property has two double bedrooms, one with en-suite and an impressive family bathroom. The property also has central heating (water radiator type) & an allocated parking space as well as a communal lift and bicycle storage.
The employed tenant moved in April 2013 an has an initial 6 month contract. The rent is £675 per calendar month.
If you are interested and wish to arrange a viewing please call Luke on 07793 651945
Is Now The Right Time to Increase Your Property Portfolio!
A rent check report released on the 20th May 2013 reported that 17% of the UK housing stock – 3.8 million homes in England are privately rented, and this figure is rising. The rent check report measures actual rents agreed by 1500 landlords in England & Wales; most of which are members of the National Landlord Association (NLA).
The results showed that…
- 87% of landlords achieved their advertised rent
- 61% of landlords are confident in the prospects of their letting business
- 41% of landlords have agreed higher rents over the past 12 months; 7% agreed to lower rents
- 23% of landlords plan to purchase further property in the next 12 months
- The average tenant stay in a rented property was in excess of 2.5 years
Mortgage Going on to Standard variable rate?
If your mortgage is going onto SVR you could be paying too much interest. If you want to re-mortgage, to allow you to reduce your monthly costs and increase profit contact me today and I will ask our recommended mortgage broker to contact you.
If you would like more information about these contact terry.lucking@belvoirlettings.com
Free Buy to Let Advice
Terry Lucking is the owner and director of Belvoir Peterborough. Terry and his team are keen to help investors and landlords maximize their rental income offering a free one to one review. During these reviews Terry and his team will look at the various options to protect and increase your rental returns.
Belvoir offer you a free buy to let property selection service including a pre purchase visit, rental assessment and financial forecast.
Belvoir Peterborough is an accredited and regulated letting agency. Members of ARLA, Safe agent, Safeagent and the Property Ombudsman. One of the requirements for membership of ARLA and Safe Agent is to have Client Money Protection and all client monies independently audited and accounted for annually.
