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Are there going to be more Buy To Let deals available in Leeds this winter?

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Published: 31/10/2018   Last Updated: 31/10/2018 09:04:52   Author: JG    Tags: Buy To Let, Leeds Property Investment

Despite the detrimental changes to the tax regime introduced by George Osbourne (the most significant of which being the phasing out of tax relief on mortgage repayments, as well as the 3% hike in stamp duty on new investment purchases), the appetite for Buy To Let amongst Landlords and investors has remained strong during 2018. Not only that the tax break on stamp duty for first time buyers has created a huge amount of competition for homes priced between £100k-£200k. This section of the market has been hot all year in Leeds and these properties have sold fast!

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Do ex council houses in Headingley make good buy to let investments?

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Published: 19/09/2018   Last Updated: 17/10/2018 11:54:04   Tags: Headingley, Buy To Let, Ex Council Houses

I recently went out to visit a first time Landlord who is about to let her 2 bed ex council semi detached home in Headingley after moving in with her boyfriend. She bought the house in 2015 and has been living there until now, so this wasn’t initially planned as a buy to let.

She paid £134,000 early in 2015. Upon studying the comparable sales in today’s market, I could see the range was likely to around £170,000 - £180,000 now. My thought was ‘Wow, that was a great buy!’. Although not looking to sell now, this shows an increase in value of up to 28% in 3 and a half years, which is a very  significant up lift in such a short time frame! Researching further I found that the average price for this postcode had increased by 26% over the past 5 years.

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Burley has some of the most affordable properties in Leeds

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Published: 05/09/2018   Last Updated: 17/10/2018 11:50:28   Author: JG    Tags: Burley, Leeds, Buy To Let, Property Prices

A landlord came in to our office earlier this week to discuss the affordability of property in Burley, with the current national market property market being in recovery with increasing house prices. Some of the best advice I can give to those looking to invest in property is our secret trick of the trade. You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

When we put this to the test, we found that Burley currently has an average property value of around £166,000 with the average salary being £25,203. This is a respectable ratio of 1 to 6.59. We tested this against our other local postcodes.

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Burley or Kirkstall - which is better for a Buy To Let investment?

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Published: 15/08/2018   Last Updated: 17/10/2018 11:37:13   Tags: Buy To Let, Burley, Kirkstall, Leeds

Should you be investing in Burley or Kirkstall when it comes to property?

Kirkstall covers a slightly larger geographic area but Burley has a higher concentration of houses. Each have a similar number of homes at around 5000 each. Burley is closer to the city centre and is known for its traditional Leeds style terraced properties.  Kirkstall is slightly farther away from the city centre in a north westerly direction travelling along the A65/Kirkstall Road, and has more semi detached properties. For these reasons Burley tends to attract a younger population and Kirkstall tends to attract more families.

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The Age Old Question: Capital Growth Or Yield?

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Published: 01/08/2018   Last Updated: 17/10/2018 11:21:26   Tags: Capital Growth, Yield, Buy To Let, Property Investment

Landlords and investors never tire of this debate. Everyone has a slightly different take on it, and your approach should also fit your personal circumstances. Where you stand on this spectrum will depend your attitude, knowledge, experience, and risk profile.

Should I go for yield (or cash flow) or capital growth?

I get this question a lot. In fact it’s one of the most asked questions I do get. The most common chestnuts being ‘Where do I buy’ or ‘What do I buy?’. If I had a pound for every time I had these…! (I’ll cover these in a separate blog, read on!). The answer is – it depends.

You’ll need to be clear on a few things before we get going and buying the first property we see that we like the look of!

What are you trying to achieve? Why are you investing in property in the first place? What are your long term goals? What are you going to do with the cash flow?

We need to understand what your strategy is first. And if you don’t have one, you need to get one! Don’t spend any money until you have got this nailed.

Let me illustrate with a couple of examples.

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How To Quickly Safeguard Against Interest Rises On Your Mortgage

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Published: 06/12/2017   Last Updated: 06/12/2017 12:25:37   Author: JG    Tags: Interest Rates, Buy To Let, Mortgages, Landlords

On the 2nd November 2017, Mark Carney the Governor of The Bank Of England announced that interest rates would rise for the first time in 10 years.

August 2016 saw the last change when there was a cut from 0.5% to an all-time record low base rate of 0.25%.

The Bank Of England estimates that almost two million mortgage holders will not have experienced an interest rate rise since taking out their mortgage.

The rise in the base rate was seen largely as a measure to control the effects of increasing inflation.

Experts predict the change to be the start of further steady incremental increases in the interest rate that are still to come.

Savvy borrowers have been fixing their mortgages to combat these effects.

Yesterday the Financial Times reported a record rise to Buy To Let rates. According to the FT, the average 2 year tracker has risen by 0.2 percentage points to reach 2.43% since the hike on 2nd November. This is the largest increase recorded on the website moneyfacts.co.uk.

Forecasts of further gloom follow in the wake of the criteria changes for portfolio landlords, on top of increased taxation due to ‘Section 24’ and the removal of mortgage relief, and the 3% hike to stamp duty on new property purchases.

To offset these effects, and to avoid getting caught up in further increases to mortgage interest rates, we recommend speaking to an expert now.

We work with a excellent independent Mortgage Broker that specialises in both Buy To Let and residential mortgages, and who has access to the very best rates available on the market today.

Not only that, our Mortgage Broker has a fantastic limited time only offer exclusively for customers of Dwell Leeds!

If you would like to arrange a FREE consultation and to see how you could benefit,  request a call back now

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