The welfare reforms have been discussed at length in the news recently, mainly due to the fact that they are affecting thousands of people across the UK. The coalition government claim that the whole point of the welfare reforms is to make the benefit system fairer, however a number of schemes have already put some people in danger of losing their homes. Here, PropertyQuoteDirect looks at the issue in further detail: Continue reading
Winter is officially well and truly behind us, which means that people across the UK are now starting to think about their next holidays. Landlords who own holiday homes should therefore start preparing their properties as soon as possible in order to ensure that they are filled before the holiday season begins; however this can often be a bigger job than first expected. Here, PropertyQuoteDirect looks at how you can prepare your holiday home as quickly as possible: Continue reading
This week has been extremely busy for landlords, as George Osborne announced his plans for the UK economy in the Budget 2014. Naturally, there are points that some are happy with – such as the fact that non UK residents will soon also have to pay Capital Gains Tax – however there are others which are raising concerns.
This is why many landlords are now taking the time to make sure that their finances and investments are secure. Here, PropertyQuoteDirect looks at some of the most prominent issues that landlords may face in the near future: Continue reading
Finding something special for your mum on Mother’s Day isn’t always easy, which is why PropertyQuoteDirect are giving away a Bird House and Bird Food to one lucky winner on Twitter!
We are sure any mum would appreciate this lovely decoration in their garden – especially if it starts to attract some new visitors!
Due to the effects of the recession, even the smallest of changes to the property and private rental markets can have a huge effect on landlords, and unfortunately it looks like things are set to change very soon. 2014 has already seen both markets starting to re-gain momentum, however not everyone is as pleased about this as others. Here, we look at some predictions for the property and private rental markets which could affect your business in the near future: Continue reading
With the risk of flooding being very real for many at the moment, it is important as a landlord that you have done all you can to protect your investment as well as your tenants. This is why PropertyQuoteDirect has put together a guide on the best ways of ensuring you are as well prepared for the floods as possible.
Obviously, the main point of flood proofing is to keep water out or at least as much as you can. If your properties are flooded then once the risk of further damage has decreased remove all flood proofing equipment to let your property dry out.
One of the most practical ways of flood proofing your rental home is to provide your tenants with sandbags. You can get hold of these from local builders or merchants. There have even been some designed especially to reduce for flooding.
Windows and Doors
If and when you are giving your property an update consider having flood proof windows and doors, especially if you are in a high risk area. You can also purchase flood boards that have been purpose built and only need to be used when your property is at risk. Another good idea is if you can, have the door thresholds a little higher, this will mean that if the flooding only brings shallow water, the property should be safe. Continue reading
The private rental sector plays a huge role in providing comfortable homes for people, so having access to the right information is important, especially for first time landlords who may need guidance to be able to run a successful business.
The New Year tends to bring change for many people, including where they live. Whether they are buying a property or looking for a new property to rent, there are many reasons for ensuring that if you are looking to sell a property, or you need to find a new tenant, that it will attract as much interest as possible. After all, the more people that want your property the more money you will be able to make!
The best way of ensuring that your property will attract attention is to have it decorated in order to suit all tastes. If you have put your interior design stamp on the property it might not be to everyone’s taste and may even put some potential tenants off, so it’s essential you pick a neutral design.
With this in mind, here at PropertyQuoteDirect we have come up with the best trends to look out for in interior design in 2014, and what you should be doing to make your property as attractive as possible. Continue reading
With phase two of the Help to Buy scheme recently launched there is some confusion as to what is on offer and who is eligible for what. With this in mind we have come up with a guide so landlords can find out what buyers can get from the scheme and how this may alter the market in the next couple of years.
The second phase of the Help to Buy scheme was launched earlier on in the year, which means that properties worth up to six hundred thousand pounds are now eligible. Furthermore, those who have a deposit as little as 5 per cent now have more mortgage options available to them.
The scheme isn’t just for new build properties either – buyers can purchase a pre-owned property in England, Scotland and Wales regardless if they are first time buyers or current home owners, although the scheme is not available for buy to let investments.
Getting a Mortgage
Whilst the scheme is aimed at getting the housing market moving again, the increase in demand and the lack of supply is pushing house prices up. Although it is now easier to get a mortgage at a cheaper rate there is a high chance that if you only have a small deposit you will also face some harsh affordability criteria. If you have a good credit rating, can prove you can make the repayments and have a 5 per cent deposit you are likely to be accepted for a mortgage, but if you can stretch to a 10 per cent deposit mortgage rates will come down significantly. The bigger the deposit the better mortgage you will receive. Continue reading
With generation rent well and truly here those who have some money and want to invest may be looking to the property market. However, if you have never thought about it before it can be a little daunting knowing where to start, so here is a guide to a better understanding of what a buy to let mortgage is. At least then that is one less thing you have to worry about.
First things first, with the competition high for rental properties there is more profit to be made in the market, this is good news for landlords although it does mean that tenants are forced into the rental market for a lot longer. As a result make sure that when it does come to set your rental price it is fair for both parties whilst being in line with average rates across the local market.
What is a buy-to-let mortgage?
If you are a first time landlord then it is important to understand how a buy-to-let mortgage works; a buy-to-let mortgage is simply money offered by a lender, usually a bank or building society, which is then used to purchase a property that the owner will not be living in. The difference between applying for a buy-to-let mortgage or a residential mortgage is the way in which the income of the borrower is assessed. For a buy-to-let mortgage the potential rental income is taken into account although all lenders will have different ways of assessing this so it is important to compare deals. Continue reading