Property Secrets - Expert Property Investment Advice & Opportunities
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UK property sales remain firm |
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Gem Invest Reports: Sales activity remained relatively firm during December and an increasing amount of new stock came onto the housing market, the latest RICS UK Housing Market survey has found.
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Periodic tenancies – an explanation |
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People often get confused by this and don't understand how fixed term and periodic tenancies work. So here is an explanation. A periodic tenancy is a tenancy which runs from month to month, or sometimes from week to week. Some run from quarter to quarter or even year to year, but the vast majority run from month to month.
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UK Hotspots, Latest Mortgage News, Where to Invest Overseas! |
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UK Hotspots Where's the UK's hottest BTL hotspot? According to Haart, it's Peterborough! The research suggests that a one-bedroom apartment in Peterborough yields 8.7 per cent per annum whilst a two-bedroom apartment yields 9.0 per cent per annum. Looking at the regions where Haart operates, the East of England offers the best rental yields followed by the East Midlands and South Yorkshire. Property developer David Barnett names Croydon in south London as the place to be soon. 'In the next 10 years, Croydon will thrive but you have to play the long game. Croydon is just 15 minutes away from Victoria and now it's on the East London line too - it just takes one big thing like Westfield (the shopping centre) and the rest will follow.' Hamptons International is drawing attention to Oxford where they say that 40 per cent of high-end properties are being bought by the overseas market, with half being from Russia. Why? 'What we are seeing is prices increasing in London and buyers looking further afield where there are still sustainable prices. Oxford has that. Over the last 12 months there has been a significant increase in international buyers.' BTL Mortgage News Platform has a new range of BTL mortgage products. 'The Premier buy to let range increases the maximum loan size to £500,000. The new two-year fixed rate and tracker rate products are available up to a maximum LTV of 65 per cent and come with a 1 per cent arrangement fee. The range also includes products available on a let to buy basis, available to customers who are purchasing a new home but who do not want to sell their existing property.' More BTL mortgage developments! Yorkshire Building Society entered the buy-to-let market recently via Accord Mortgages with products in London and the South East. It is now planning to roll out into more regions. Other changes include 'reducing the minimum required property value from £150,000 to £100,000, reducing the minimum income, from £35,000 to £20,000, and reducing the minimum age from 30 to 25.' More to come as we are looking to put together a weekly BTL mortgage update. Overseas Property Hotspots Joining the European Union has long been regarded as a trigger for the property market to prosper. If you are an overseas off-plan investor looking for capital growth, you may be interested to note that Croatia has just voted to join the EU in 2013. 66 per cent voted in favour ad there was a 40 per cent turnout. The official report reads, 'The European Union is now reconsidering its position regarding further admissions to the Union. Croatia has therefore managed, although with considerable effort, to get through the door just in time. Croatia is set to join the EU in July 2013.'
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How To Buy Up North |
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I've made reference before in this publication about how there are some 'property experts' who still write off the North as a wasteland for investors. Comments like "Any property with a yield over 10% is unsellable!" or, "With a double-figure yield it'll be in a street of boarded-up properties!" are put forward as fact. Those who know no better continue to search the London and south-east estate agents with a feeling of quiet desperation. In my opinion, they miss out on some excellent investment opportunities.
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The new tenancy deposit rules |
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As many of you will be aware, the tenancy deposit regulations which came into force in 2007 turned out to be a bit of a mess, after the Court of Appeal had finished with them.
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